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NEW YORK STOCK EXCHANGE, INC. · Professional Services · CIK 0001753539
$16.69
-3.80% · live
Updated
$599.7M market value
From BlackSky Technology Inc.'s FY2025 10-K, filed Mar 17, 2026 · read the filing
BlackSky Technology makes communications equipment. It took in $106.6M last year, which makes it a smaller company. It spends more than it earns — losing about 66 cents on every dollar of sales.
The financial picture is mixed, with growth needing attention and profitability and debt weaker.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Received a delisting or listing-standard notice, in a filing on 2026-08-13.
Form 8-K, item 3.01 · Read the filing
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score -1.07
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Several areas of financial weakness.
From BlackSky Technology Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit margin
-56.0% → -65.9%
Long-term debt
$105.7M → $193.2M
Cash
$13.1M → $42.4M
Shares in issue
30.7M → 35.9M
Measured against FY2024, from the 10-K filed Mar 17, 2026
Deteriorated: −9.9 pts
-56.0% to -65.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
How the latest move compares (quote live), and what was published around it
BKSY fell 3.80% on the latest quote. The average Technology company tracked here moved −1.27%, and the S&P 500 −1.04%. That is 2.5 points below its sector and 2.8 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 13 analysts covering this company, as of . Their views, not this site's.
Of 13 analysts publishing on this company, 3 say strong buy, 8 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $70.3M last year, losing about 66 cents on every dollar of sales.
Slowly. Sales grew 4.4% last year.
Yes — it carries debt while operations are consuming cash rather than generating it. For every $1 it owes, it owns $1.33 in assets. Its operating profit does not cover its interest bill — -3.14x against the interest it owes. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it lost $70.3M and generated -$28.3M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Mar 17, 2026Filing for FY2025 | FY202410-K · Mar 20, 2025Filing for FY2024 | FY202310-K · Mar 20, 2025Filing for FY2023 | FY202210-K · Mar 23, 2023Filing for FY2022 | FY202110-K · Mar 31, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $106.6M | $102.1M | $94.5M | $65.3M | $34.1M | +4.4% |
| Selling, general and administrative | $87.4M | $74.1M | $72.6M | $79.7M | $86.7M | +18.0% |
| Operating income | -$46.9M | -$44.3M | -$56.0M | -$86.5M | -$120.1M | −5.9% |
| Operating marginOperating income ÷ revenueWhat is this? | -44.0% | -43.4% | -59.2% | -132.4% | -352.5% | −0.6 pts |
| Interest expense | $14.9M | $12.2M | $9.3M | $5.4M | $5.2M | +22.6% |
| Income before tax | -$70.1M | -$56.8M | -$53.2M | -$74.9M | -$244.0M | −23.4% |
| Net income | -$70.3M | -$57.2M | -$53.9M | -$74.2M | -$245.6M | −22.8% |
| Net marginNet income ÷ revenueWhat is this? | -65.9% | -56.0% | -57.0% | -113.5% | -720.7% | −9.9 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-1.96 | $-1.87 | $-3.02 | $-0.6206 | $-2.15 | −4.8% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| BKSYBlackSky Technology Inc. · this page | 3.3/10 | 1/8 | 4.4% | -65.9% |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 1,055 shares
Holds 73,985 shares after this filing.
Was granted or awarded shares — 1,055 shares
Holds 88,378 shares after this filing.
Was granted or awarded shares — 1,055 shares
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Held a shareholder vote
Read the filingReceived a delisting or listing-standard notice
Read the filingWrite down why you are following BlackSky Technology Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from BKSY's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Mar 17, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 3.3 | 1/8 | 10-K, filed Mar 17, 2026 |
| FY2024 | 3.3 | 2/8 | 10-K, filed Mar 20, 2025 |
| FY2023 | 4.7 | 3/8 | 10-K, filed Mar 20, 2024 |
| FY2022 | 4.7 | 3/8 | 10-K, filed Mar 23, 2023 |
| FY2021 | 4.7 | 3/8 | 10-K, filed Mar 31, 2022 |
| FY2020 | 2.0 | 0/6 | 10-K, filed Mar 31, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
1 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
-1.07
In the distress zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: +82.7%
$105.7M to $193.2MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +225.1%
$13.1M to $42.4MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +17.2%
30.7M to 35.9MCritical
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Deteriorated: $13.0M wider
-$57.2M to -$70.3MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: $2.6M wider
-$44.3M to -$46.9MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: $0.09 wider
-$1.87 to -$1.96Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 6, 2026 — read it.
Improved: +50.1%
$22.2M to $33.3MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: $6.1M narrower
-$13.9M to -$7.8MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $20.4M narrower
-$41.2M to -$20.8MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +39.4 pts
-62.8% to -23.4%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +123.2 pts
-185.8% to -62.5%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $0.68 narrower
-$1.19 to -$0.51Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +69.8%
$117.3M to $199.2MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +63.6%
$22.6M to $36.9MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +17.6%
34.6M to 40.6MCritical
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 6, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +60.4%
$20.8M to $33.3MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: $10.7M narrower
-$18.5M to -$7.8MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +65.8 pts
-89.2% to -23.4%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +80.3 pts
-142.8% to -62.5%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +10.5%
36.8M to 40.6MCritical
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Improved: $8.8M narrower
-$29.7M to -$20.8MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: $0.29 narrower
-$0.81 to -$0.51Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -6.3%
$39.4M to $36.9MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
2 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
Loading price history…
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 19.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
| — |
| 3.07x |
| MGMistras Group, Inc. | 6.0/10 | 7/9 | -0.8% | 2.3% | 39.48x | 1.46x |
|---|
| Median of peers | 6.0/10 | — | -0.8% | 2.3% | 39.48x | 1.46x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Holds 86,906 shares after this filing.
Was granted or awarded shares — 1,055 shares
Holds 85,612 shares after this filing.
Sold on the open market — 20,000 shares at $22.88 ($457.6K)
Holds 1,043,396 shares after this filing.
Sold on the open market — 4,000 shares at $22.97 ($91.9K)
Holds 478,931 shares after this filing.
Sold on the open market — 6,000 shares at $23.10 ($138.6K)
Holds 421,680 shares after this filing.
Was granted or awarded shares — 8,005 shares
Holds 85,851 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 18,000 shares ($390.1K) on or after .
Shares originally obtained via Restricted Stock Units.
Filed notice to sell 56,497 shares ($1.2M) on or after .
Shares originally obtained via Restricted Share Units Vesting - See Remarks..
Filed notice to sell 15,284 shares ($317.7K) on or after .
Shares originally obtained via Restricted Share Units Vesting - See Remarks..
Filed notice to sell 13,101 shares ($271.8K) on or after .
Shares originally obtained via Restricted Share Units Vesting - See Remarks..
Filed notice to sell 80,000 shares ($1.8M) on or after .
Shares originally obtained via RSU's acquired between 9/9/2021 and 3/14/2022.
Filed notice to sell 16,000 shares ($391.0K) on or after .
Shares originally obtained via Compensation.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report for Q2 FY2026
Revenue +50.1% · Operating margin +39.4 pts · Operating income $6.1M narrower — against Q2 FY2025
Published results
Read the filingProxy statement for a shareholder meeting
Read the filingSigned a material agreement
Read the filingQuarterly report for Q1 FY2026
Revenue -29.7% · Operating margin −48.7 pts · Operating income $6.6M wider — against Q1 FY2025
Read the filingPublished results
Read the filingAnnual report for FY2025
Profit margin −9.9 pts · Long-term debt +82.7% · Cash +225.1% — against FY2024
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2025
Profit margin −9.9 pts · Long-term debt +82.7% · Cash +225.1% — against FY2024
Read the filingPublished results · Reported another event
Read the filingPublished results · Reported another event
Read the filingSigned a material agreement
Read the filingQuarterly report for Q3 FY2025
Revenue -13.0% · Operating margin −27.1 pts · Profit margin −22.4 pts — against Q3 FY2024
Read the filingPublished results
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q2 FY2025
Revenue -11.0% · Operating margin −15.8 pts · Profit $31.8M wider — against Q2 FY2024
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingBlackSky Wins Six-Figure Gen-3 On-Demand Pilot Contract with New International Intelligence Customer
Yahoo Finance ·
Primary sources and further research