Satellite imagery company BlackSky sees quarterly losses slow as it adds another military contract
Publishing timestamp: 2023-03-07 10:00:41
Summary
BlackSky announced fourth-quarter results on Tuesday that show company further trimming losses and securing additional military contract. The company posted an adjusted EBITDA loss of $4.6 million for fourth quarter, down 68% from same period year earlier. It also announced plans to raise more funds through sale of 16.4 million shares of common stock to "a syndicate of new and existing institutional investors." BlackSky expects to approach $100 million in annual revenue in 2023 and announced a multiyear defense contract worth over $150 million for an unnamed international government customer.
Sentiment: POSITIVE
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Source: https://www.cnbc.com/2023/03/07/blacksky-bksy-q4-results.html