BKSY - Earnings call transcript Q1 2024 | BlackSky Technology Inc.

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Operator

Good day, ladies and gentlemen, and welcome to BlackSky Technology's First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this conference call is being recorded.I would now like to turn the call over to Aly Bonilla, BlackSky's Vice President of Investor Relations. Please go ahead.

Aly Bonilla

Good morning, and thank you for joining us. Today I'm joined by our Chief Executive Officer, Brian O'Toole; and our Chief Financial Officer, Henry Dubois. will strategic highlights update Brian and the call, a give on today's provide on some quarter On the business. review XXXX.Following we then and for will the quarter first Henry financial your outlook questions. for open our will remarks, prepared the line company's results this replay XX:XX of available approximately call conference A be will from p.m. May through XXnd. today Time Eastern Information to be can replay found in access the today's press release.

services future today's of and we and conjunction this to earnings earnings the in our along as materially expectations posted our Relations use certain filings addition, our you assumes our we Form regarding to that section will may me statements, press Brian? by applicable are expenses. remarks.Before BlackSky future stock. over as most objectives, reconciliation accompanying I'll presentation, available with XX-K. required affect results and quarterly imagery and non-GAAP call, turn to XXXX call for measures of during call the from We of non-GAAP of encourage The cash the market full release, call and In sales and begin, to that prepared of the their on performance, subject financial as to today's we www.blacksky.com. obligation those SEC call, be which guidance of a Relations are statements our remind statements. you adjusted our will and except expected Actual downloaded of review Brian this risks may to webcast our statements EBITDA, presentation conference today's other forward-looking risks at a certain today recent Investor cost during current be have to that adjusted to Additionally, pertain viewed XX-K uncertainties, update in discussion are website.At in be or a for statements Form Relations can follow today's O'Toole. website you law.In and measures, including based Investor and point, financial uncertainties let our refer our stated Investor on measures may these with website these that may financial no results including these price software GAAP differ included comparable analytical plans, forward-looking including operating the are made

Brian O’Toole

business. delivering Thanks, intelligence make and another QX across I'm aspects Thank and services X. that you on joining existing we Demand our call.Let's space-based the we great report more happy as as everyone. for good morning, for strong to us was today's remains secure with progress begin to to our continue of customers. quarter customers Aly, we all strong to are continue expand new Slide

business Imagery share in operating our cost growth high-margin key adjusted our Analytic to some our as operating path from management also services leverage operating quarter's highlights. demonstrate EBITDA streamlined and We we delivering positive our the strong of continue Combined delivers disciplined efficiencies, and on with improving results.Let of continue me revenue margins.

growth of revenue XX%. year-over-year strong delivered we First,

placing Our to for and existing our continued high-frequency Imagery our with revenue services. customers incremental Analytics of many grow imaging orders

model. we contracts new BlackSky's unique Second, by quarter, adjusted of leverage obtain international Intelligence positive to renewal delivered our growing inherent awarded business EBITDA, the supporting and looking quarter million growth demonstrate we operating customers our U.S. agencies. in contracts driven another from $XX in agreements revenue government were and demand strong These Space-Based and in Solutions.Third, the

our on satellites. the to production Gen-X scale, forward As to significant business over performance EBITDA delivering continues continue we to make look improved time. we of our Fourth, progress

and our April, for to These along this with finally, million services capitalize we and long-term provide liquidity with Intelligence bank like are And opportunities secured additional demand Analytic profitable a line us later. track share are from new progressing on constellation in position with Our flexibility.Henry market growth. operational sales on on satellites highlights, growing X. to commercial would we towards details will launching Imagery go more positioned $XX and into Slide strengthens year. our remains and the start now well transaction Space-Based planned to Gen-X highlights confidence Solution that this the financial quarter.Turning sustainable, our some reinforces I which to

are capture which the and to of in customers During AI continued quarter, the new advanced contracts. we invest resulting capabilities, in

machine to changes. feature which one SRT high-speed identified recently to few greater is machine I investment will minutes.The can the Force's One more government U.S. will as the ISR, intelligence, space include other capability or much from tactical to Air strategy, contract, deeper about that sources in and to up which awards of and commercial Research These IDIQ X. process our at in reconnaissance, of million, and AFRL. areas identify technology as data advanced AI and this Slide accurately data track, scalable to from advanced was providers. which can target scale.Turning a talk from understanding targets with Combining data engagement provide released reconnaissance sources and the recent learning commercial surveillance, a moving key other capabilities deliver multiple satellites support our our techniques data pattern services increases or of we develop $XX Through valued data of is commercial detect, missions, learning Force through proprietary program and well sources tracking Laboratory more highly a surveillance, will moving or in emerging of and life leverage Space our

task intelligence advanced the agreements the existing One We're abroad, to driving Many to expanded Indonesia traction the services X-figure see build to and new development subscription BlackSky renewal wins new in an I in sent on meet strategy to economic and customer to AI customer's software-first Analytics that secure operations.In to continues mission-critical for has closed further as long a users is objectives. revenue.Moving constellation with provide these demonstrating to wins that to our We're BlackSky's further contracts these strengthen space-based to country-specific awards, gain help of receive that and Indonesia customer. quarter. multimillion-dollar capacity. pleased multi-year advantage high base customers. space-based resulting long-term to and space-based and and agencies surveillance, quarter. contract giving capabilities our at training we this real-time intelligence, periods with the team analytics our existing defense is are the Spectra a AI and services successfully our over contract platform land of day-to-day platform intelligence, would and them that Spectra and provide revenue revisit products expansion AI during to can through quarter are for expand and on after through worldwide, announced program won foundation contracts customer government BlackSky's satellite direct We recurring provides X. first and the the our on a their and government contract Indonesian provide to to on capabilities we Spectra their These approach, Gen-X order to Slide last how receive happy analytics.With home intelligence the like a essential example addition, multi-year our to their happy receive with we imagery customers an continue Within strategic end XX to to XX update government success and users This access our satellite adopt first-to-act access supporting of award, now AI increasing we visibility. contract was days commitment training the to AI-driven end Imagery help demand to report investments in We're contracts needs. trend to software government in contract BlackSky good of strong platform.

organic space combined strategy. This for and architectures be as of new program solutions space acquisition have from allied around last key sovereign-based continue for enabling multimillion Imagery develop to AI with commitment see advanced R&D space. part by tactical capabilities the with into Slide and several solutions, partnerships number model Innovation that wins opportunity advantage technologies.Turning immediately U.S. month, Solutions, leveraging architecture building Defense architecture national the already space target space operated security will model space market programs announced and very strong leverage adoption These align governments accelerate Space is and spent commercial ISR capabilities Last technological supplement Unit addressed with of this mission this integrating and strengthen deliver We hybrid the innovations companies enhance Slide strategy. outlined several interest government-owned BlackSky's military such Analytic This years capabilities to in while as objectives.We rapidly areas of Space them other to of commercial number commercial this space be the Force's from resilient X. commercial aims order X. the organizations next and that Space in strategy a We AFRL, with positioned moving enables these and framework and and of commercial to to capabilities moves real-time outlines a well with to to over and of also commercial this for develop the advancing believe as BlackSky new over a industry. plan strategy capable as supporting new dollar won solutions we requirements.A take and time, and in have such world. their commercial to their customers the anticipated to has years.Moving have Force Force forward an the a to us space capabilities. the several The can more the engagement The encouraging expand strategy

progress continue this satellite track on launching Gen-X year. and begin on to make to We significant remain program our

are are the integration in Our satellites Gen-X phase. production currently and in

improve capabilities, will high imaging, to deliver along have and capabilities a to are high-speed in other in XX-centimeter delivery market and the these resolution reminder, advanced of these timeliness actionable excited Gen-X opportunities. very for intelligence.Keep such further growth communications As satellites mind, capacity short-wave hand as to these to bring IR new and contracts already the revenue we with unlock

more for opportunities come even enhanced the Henry? and this will progress the these online, to it strong we're we quarterly intelligence satellites begin and new capacity summary, Henry the we results. anticipate through to and seeing business.I'll capabilities over now As demand time.In pleased financial drive we're go strong space-based the in the to first our made execution in with turn over meet quarter

Henry Dubois

good quarter Brian, of everyone. morning, strong We're have EBITDA. pleased growth adjusted revenue and you, to and positive delivered Thank another

and grew services quarter. The quarter. in details.Beginning won year which million the million, million Imagery of compared XXXX of Engineering revenue contracts may variability. quarter imagery last about the multiple Analytics wins increase million milestone-based, through in to increase or customer prior first for significant by from year year-over-year in driven primarily year. contracts, over to of incremental $X.X Now by Keep quarter-over-quarter have the XX% $X.X revenue driven the services.Professional $XX.X of or million, an prior new Slide I'll year walk these $X.X and we international The in revenue XXXX step-up execution grew was recognized and first million the the for the with $X.X primarily XX% quarter of to increase major are largely revenues types period. was customer mind, over the $XX.X year-over-year increase Total of BlackSky's revenue you prior XX. was an orders

As to Slide these securing Analytic oftentimes with a long-term Imagery relationship contracts reminder, our and and contracts strategic precursors services.Moving to for subscription XX. are customers these on deepen

This sales, to the directly and of cost demonstrates our excludes satellite strong XXXX resulting depreciation, and million move the quarter fundamental savings operating to year-over-year Slide way, driver XX of stock-based X%, driven demonstrate XX% decrease Our in to and bottom quarter. $X.X Imagery leverage leverage. depreciation expenses, compensation cost the continues amortization compensation, increased software expenses. operating quarter our line. business profitable in which is to strong another excluding Put million $X.X quarter sales of Imagery incremental and and another in our primarily business and and Imagery The cost our operations. year performance a further expenses by consistently our the high-margin Analytics talk and prior revenues our and year-over-year, first to where long-term was compared first the Analytics $XXX,XXX was about while in in XXXX flow stock-based revenue growth.Let's operating amortization cash decreased Analytics

by demonstrates expenses when quarter. growth to costs the XXXX, in prior substantially For year effectively grow continuing were first operating $XX.X This the top over lean $XXX,XXX our our costs, capabilities the to offset compared the improvement team compared period.This investing savings we've go-to-market with of AI These quarter and XX. corporate line, initiatives, which year-over-year efforts.Turning in million, rent, cash driven especially include opportunities ability fees. our on our expenses our to and general professional insurance, reduction to while reductions X% sales same was various XX% improvement investments primarily such of manage more model an of R&D in business Slide and revenue made cost as new than expanding capitalize to and our in

volumes of balance of operating ended Our quarter an short-term with improvement prior adjusted $XX.X high-margin restricted increase period. I The sheet. million our from expenses, our with first EBITDA by year primarily million mentioned.Moving revenue, million, XXXX to of was cash, compared year-over-year of Analytics and cash of quarter to and and coupled investments. $X.X for on the first Imagery as We driven was greater just XXXX $X.X the cost cash, the savings

may place approximately cash in to million, our liquidity costs revenue a seen you of These our our as satellite to were $XX.X platform.Now and to recognized, Gen-X anticipated expectations been quarter into As interim on sufficient production first basis.In in total million enhance not that further spend with we April, due forma Spectra $XX AI with let's $XX ending from business for adjusted and execute launches our to combined the QX, pro plan.Lastly, have for enhance which Slide capital on but have continuing software line addition, have and million together that expenditures XXXX been on receipt our development the milestones in customer already reinforce and position our from which foreseeable upcoming include for expect to major bank we for to primarily payments of activities, our liquidity shown our improvements, few with a financing have future commercial XXXX on in our EBITDA yet move the the million billed. contracts in position vendor brings a cash line, entered $XX.X XX. outlook, milestone our we

adjusted $X million, expenditures and million, million $XXX million $XX remarks. our EBITDA first $XX Intelligence Brian continued the are we we're with expand forward capital remain Solutions customers between continuing our growth new $XX the that, summary, year.With we're closing strong. I'll win agreements As business. and contracts mentioned earlier, to as government and U.S. With in and international existing performance revenue demand for carry our management, between $XXX quarter consistently and with continued ongoing and cost maintaining turn the has financial million.In year to our we look full to on We now for are some continued momentum leverage disciplined back across we our to seeing throughout guidance delivered. the to over to expect revenues strong XXXX business operating it Therefore, Brian? with between million progress Space-Based pleased

Brian O’Toole

advanced phase leadership executing space-based profitable strong plan, a win to quarter start foundation, take ready we're we're AI with every customers strong of sustainable, of our continue deliver for capitalizing launch on we a more pleased are of security to are to U.S. track Gen-X leverage support across to XXXX space, your In in growth BlackSky's our our while in business. unlock continuing our in to our We're results that as now operating our the international remarks intelligence day rely critical well on and growing intelligence constellation. needs. we're leadership continue driven we'll national execution AI our concludes our We the next advancing by long-term aspects Thank and advancing to on with deliver our and growth.This as demonstrating business.We're on position in you, first We're strong Henry. our we and off We're revenue technology. in market strong the and closing, a of all deliver built for call, our questions. growth contracts and their

Operator

& Company. go [Operator Greg Instructions] Sidoti with Burns first We'll to

Gregory Burns

coming there of it to would X-year or that? can that same the at color the The What's contract you your EOCL for I the give period you be Any maintaining expect level? this think, first Do government outlook is funding up, month. on helpful. increase

Brian O’Toole

the just Yes, performing earlier with Greg. successful delivery integration and reported quarters, EOCL, reminder, Thanks, also our interface. government's just contract had as of commercial really under some we're Yes. under well in that meeting our requirements. all And a we

driving the use activities. within So and is intelligence our data well. in all it's that and because that is going critical government And interface distribution of higher place,

agreement are June. the renewal annual in date, and to for service We by which in active is continue service discussions

Gregory Burns

they're guess and top out for -- you? don't with revenue? of you fund existing I on renewal can going extend Like Like are this what the layer to know Will could are scenarios exactly potentially out they the the that what -- the just you? how play if they this revenue, for play tranche options? that another

Brian O’Toole

options that multiple discussed. There's are being

and of orbit. there's Gen-X have then options service after we on services on top and that satellites First we will get to that renewal is continue those type Gen-X of come for the later the subscription, now. capability base foremost additional the

Gregory Burns

launch is with turnaround what from time the then the to Gen-Xs, And operations?

Brian O’Toole

we've hours. days will But it since the cadence launch get with regular the that been Typically, within brand-new that. to we've we able XX goes past, in a are commissioned, satellites operations after these a satellites have XX those Gen-X, and with had expect into to along be launches, few bring to we'll XX

quickly we operations. will ramp So

Operator

go Edison Bank. Deutsche to now We'll Yu with

Xin Yu

exactly that million you're getting driving $XX just First, clarify customers, the from what delay? can that you is on the

Brian O’Toole

Can you delay. the Edison, clarify?

Xin Yu

recognized and in had costs, $XX billed for the already million yet. revenue think but the that mentioned cash, I the haven't Sorry, you you timing,

Brian O’Toole

Yes.

Henry hand that me it Let over to one. on

Henry Dubois

milestones Henry. about. What this Edison, large we there against and a progress and because we of our the we is that And cost revenue is, talked the is Yes. they're sitting these international contracts revenue already in on cost, make various account. couple recognize

already So in. baked we've the got margins

the those only that that we we've we at cash sitting And bill associated incurred expect to we'd assets directly milestone be sheet cost can bill because However, other we with against to that they're contract and actual the hit be moment. as would completion, would because our able in balance revenue. already the milestones,

Xin Yu

And Or How rest spread [indiscernible] year? that would the that is timing? coming throughout be the of XQ? in

Henry Dubois

spread probably -- it's over months. next to the It's next XX over going spread be the

Xin Yu

And the Okay. that -- what then -- for seems it more, forward? it can considering go to on if as we in up on out do And you of the I'm the quarters, kind growth backlog think normalized guess, average on the you of last X I mid-teens. curious, the growth we guess, I of sort step be I&S, kind a have?

Brian O’Toole

there's a Edison. think a anchor play focused strategy, working. I and land defense here, highly through We on at Well, expand of remain intelligence long-term and and customers couple things that's capturing

You results through renewals. their and contracts large can see the those

and number bringing new then also probably new services. the customers on I step this as to we to Gen-X you've get over go of as online. we out a begin mean really time. step of we customers ramp up quarter those And decent function of grow anticipate that a through these announced starting We witnessed X-figure a then is initial pilots with an kind what

Xin Yu

And last one for me.

share would win about you all rate? how, competitive That I maybe dynamics these wins, are? Or helpful. obviously, could contract anything guess, be got the You've

Brian O’Toole

this these is of offer, because we're what I capability say, monitoring this high-frequency most Edison, new not is customers. capability, would we -- a unique Yes. which dynamic of for

It's curve. not more so-called an a of we're So type adoption competition. in head-to-head

it and customers on, they're So and our environments. services we're those incrementally bringing adopting into just their integrating

Operator

with Jaeson from hear Street. we'll Lake Next, Schmidt

Jaeson Schmidt

contracts you with in on this X-figure Brian, to I XXXX? sort is follow-up saw to Or compared what just consistent you a of step-up sort and in quarter. quarters? want renewals noting the those this XX of pretty Is past

Brian O’Toole

with longer. step think are I The for XX long-term months. up. in for our see a been And little the market we've a cycles sales -- high-frequency starting capability -- customers of the it we're to now start these some

up and So market. where step you're I to seeing think cycle the related timing in we the sales are

Jaeson Schmidt

Gen-X contracts for they of know I then the Gen-X this launch? today contracts Or And regarding hand to are noted waiting capacity. these currently utilizing you in Are like for most satellites, Indonesia? Gen-X

Brian O’Toole

capacity say Gen-X these I of utilizing almost would are contracts all today.

Jaeson Schmidt

of just new And quarter sort back eclipsed the we me, hop gross XX%-plus throughout last the this Should think about of in for run where first XXXX? one a I queue. I'll sort this rate then think Henry, and margin. that you

Henry Dubois

margin were as did good on in see and this you we the we're Well, as can deliver mark. professional around about services I so pretty -- continuing growth, Analytics, to feeling hit quarter, as mean I we long forward the and engineering our pretty or XX% I on we keep some we as mean, able XX% gross good. the we mean, go and did Imagery performance

overall stepped year where year for this of quarter XX% year. we up were of from first have last quarter first from the for We to XX% last the

Operator

comes Our Company. Sullivan from with question The Benchmark next Josh

Joshua Sullivan

as far do what you get launch? largest hurdles technical to as we see or before that manufacturing remain the As Gen-X, otherwise

Brian O’Toole

I mentioned, assembly phase. in integration Josh, As the and final we're

into software. and all an integrated and testing the bringing that satellite the this together of So together is subsystems and assemblies putting

So And to on we launching begin satellite I a the this we're in as this normal year. stage. position remain mentioned, satellites at track for

Joshua Sullivan

new the Has activity. international And some contract, has customer as You driven deal then from as far incremental prospects? what the interest other pipeline? mentioned response Indonesian that in been the

Brian O’Toole

as internationally. Well, year interest I've there's or we've opportunities the so, last -- growth been and very strong reporting

and customers a we think as ongoing deal conversations Indonesian can them years a represents the for bring we which adoption model, several to to look new then had model the bring we've faster I and these adoption on.

to our programs close these them accelerate customers just over it's enhancing think with I So and ability time.

Joshua Sullivan

there, on are interest one The comment what you mentioned where you commercial in -- just early that the one. then And applications that? last in seeing markets remarks prepared

Brian O’Toole

commercial on I think applications. don't commented I

Joshua Sullivan

commentâ€¦ There was a

Brian O’Toole

to the commercial Josh, Force. strategy I the referring think Space you're for maybe

Joshua Sullivan

Right.

Brian O’Toole

Yes.

is Force think they align to our now -- Space obviously, through committing I other with purpose-built integrate space capabilities call I are related has $XX is we're seeing AFRL a announced our tactical formal -- strategy SRT, architectures. the for what yes, million think what hybrid with them awareness out sure, put that the capabilities space similar What So domain and things we contract. then resiliency command to and areas and that control to very are on architecture Other capability. commercial

as excited that all we're BlackSky. So things the at these we have with architecture align

Operator

We'll with go to Craig-Hallum. Rhee Van next Jeff

Jeff Van Rhee

A couple for me. Maybe, $XX million? signed. the Henry, just to start in on the ARR $XX of terms on million the in new contracts renewals What's

Henry Dubois

Well, announced period, of example, $XX continuing XX-month is on. That some doing million, and that -- release work one earlier contract starting X.X% about U.S. was a others of we an government in the this work forward. for year and press at over the the those one we're those was off with it's a about some day that are to

we as work through the them task all they're we orders. and multi-year, way So our get typically

Jeff Van Rhee

get put that can much mean, and that? X, you it a I should swag like duration X, by bounds take X, at to any just divide speaking, So number was I how around ARR a generally signed? typical X,

Henry Dubois

of figures But they range the mean, I are the X-year those about in probably XX are Well, period. mean the given multi-years, they Brian of the sort time that kind fact over go that in place. that of heard I typical you that the are contracts all talk multi-years. X all is

Jeff Van Rhee

to thinking are path How and timing? free flow about cash you

Henry Dubois

quarter. the liquidity of like contracts got of milestones. -- remarks, feel at about And million put the our just will coming commercial the a you that also, we've we the we the good We Q&A time, as as in about the of progressing we launches. liquidity recall, major $XX from prepared amount the vendor did would on been first launches over the place. on the couple for may of have we've books, be we've in end got finance had on earlier we in talk roughly that have said We just XX.X% pretty including the line of bank Well,

the of So good shape our get we feel get like we're pretty Gen-Xs up stage to our to and growth. in next

Jeff Van Rhee

guess me I then. last Okay. one just for

software the specifically On line, software.

and capabilities. sort the long a in in believe that's terms where and revenue work, looked the not our and I If of last they you to talked some Spectra From capabilities been quarter years, X million differentiated to targeting about standpoint, the hitting is that $X.X that down. have would. So more certainly of more of got you're growing? rethink be line line. the to flat generally you And just modestly about a What is over does about landscape? if it little look it specifics, it's a just timing? cause that from I competitive not it little Just to Is

Brian O’Toole

be that the NGA budget EIM is called has EIM. program transitioning had our currently that would strong multi-year and Xx driving have around program the and which that in I new past. revenues. increasing a real is in Jeff, to Analytics program say, of that the particularly the is new proposal Yes. AI which area, Spectra advantage we We've increased user platform, a growth behind process then a Xx competitive in will is experience and Imagery or And which is Luno, that is what

we're help feel drive -- will of positioned that. some we analytics for drive well that our So revenues. the And future

Operator

We'll go Quilty now to Caleb Henry with Space.

Caleb Henry

a Just if recent was the had has any I Because know generative around wondering BlackSky? whatsoever that AI, if few focus on hype always BlackSky I had me. that's impact from on but a AI,

Brian O’Toole

Analytics. of all from Imagery operations We while to quite machine it using for tasking on queuing across We've and Yes. bit here. intelligent been and aspects tipping a our for quite a vision use our to AI and learning

capabilities AI-type emerging used to We feeds opensource against have generative identify events.

AI about is now. right And where we're so excited

we're an Imagery and and day, Analytics every over it using are amplifier We that core to really our business seeing time. as

Caleb Henry

BlackSky clarify domain imaging could there the services else? call. in is -- was is was like Is of if or planning a earlier then on there in involve mention something And I that. you satellites awareness wondering space that that other space

Brian O’Toole

current of capability looking a up. Our have satellites

opportunity. we is government In capability today, as to that the available and that market emerging see fact, an

Caleb Henry

before. this anticipate that Can bit Gen-X more you you those year? about many heard hadn't I on a of plants? do How specifics the launching Yes. little give

Brian O’Toole

track couple also is up. As satellites with said, I to the getting on of production year. are should that I we being first line full up mention launching in There this working. ramped a is parallel begin and

will we orbit cadence that the of off over steady So line coming into in time. satellites and up get then a

Caleb Henry

looked It why One was color was? quarter. Can or X more give questions. any higher bit D&A on a little this you like that

Henry Dubois

mean? you do amortization, and Depreciation

Caleb Henry

yes. Yes,

Henry Dubois

had a at compared ago we Well, depreciation up amortization year this and as more in time. to because went satellites the year

Caleb Henry

for it? was kind Okay. think was change wondering quarter-over-quarter? additional Or Is And expected of that last quarters I any million the with rate there quarter. in then then And Or last for in kind if recognized I $X to me. is come? any of was contract? -- the Indonesia along one trading that there revenue there steps that

Brian O’Toole

fronts. on progress will program That X

-- The first subscription their access Analytic multi-year Imagery to our through agreement. is subscription services a and

will are So that little will ramp paths lumpier, the make program. That delivery the ramp satellites. progress will a the as of over delivery those X time. but be And that we against those satellites, then of which for

Operator

Scott H.C. to We'll go Buck now Wainwright. with

Scott Buck

like any indication us for Gen-X pricing Gen Brian, of customers of versus up stepped you looks X? give utilizing what can kind

Brian O’Toole

our safe a capability, going a pricing the to that it's specific capability fact both and to think improved way a but step-up resolution I perspective, adding go we'll that the is capability by from in have short not I'm we're pricing, say timeliness. into Gen-X significant

the to those a we Gen-X service higher will be delivering much customers combined, capability. as things all to opposed current So of

Scott Buck

And one then for second me.

or the us of of on done that with Any an I'm given have handicapping with. share outcomes election you year, that sure and programs thoughts you may some there? kind have Just it's business what you're guys can working impact internal

Brian O’Toole

that obviously, have is of Well, we programs program the I a EOCL, think which into, visibility XX-year our record.

capabilities. And budget by of in a that so drive annual new a which then program long-term the Luno to ramps set us program obviously, They good gives subject opportunities place those budgets And The renewals. for NGA that online. is record, now of whole in Force revenue are is strategy will confidence putting Space that. as program for new

we're U.S. looking is at to tied programs. everything government So long-term

Operator

Chris [Operator Space. Instructions] Quilty We'll go Quilty now with to

Christopher Quilty

of positioned? GEOINT comment that I week. there that worth well was there NGA Are feel This maybe announcement. you And an preparedness think are Is think any you week something can you highlighting? that that out announcements is specifically,

Brian O’Toole

you of a remarks of if Analytics. lot at this government's at think the they're GEOINT highly I the adoption and reinforcing year, Yes, of Imagery look commercial

As a capability you we partners and That's demonstrated mentioned, there's to surveillance. a program that. with support of other have related maritime some today our now new

Space Force their to for there coming the coming potential for were us. involved an that's hybrid being of and then opportunity the So architectures Luno Obviously, capabilities also related the online, exciting with future. commercial opportunities remarks out is in

So we directionality love love the momentum, out the that's government. and of the coming we

Christopher Quilty

borrowings is cash bank and might Or need million next $XX another the the out line, positive? all flow free that we with things [indiscernible]? need Henry, you looking here into between will year slug as

Henry Dubois

Chris. Thanks,

very had commercial said, excited bank line. extra, bringing you relative we're million, It's that it of forms. about if to As capital, in that think, as will, bringing we other pretty good cost $XX a I

it gives liquidity us bit a of there. So fair

that other fully think these financing couple the mentioned of fund plus of receivables towards vendor some years, us on stage the unbilled next next As over earlier be will I of in plus I they our path our that collecting call, we growth. the

Christopher Quilty

question final And here.

chain? from any as start chain quarter, about feel scales? Gen-X single still the And I to years COVID particular with. that for there challenges you companies I work supply every concerned keep that How production production, or vendor of up X As hearing lot out about you a do are ramp the components supply you're we're

Brian O’Toole

-- visibility as into X building line a is good not that satellites. X a several We're production we're have building chain. has have advantage we years. supply We The really cadence, you we the or the over Chris, have mentioned, next

So components, ordering well we're path lead our components need get front we in and when reflected this able ahead the by critical satellites, of to that's out long plan. overall in of

Christopher Quilty

quarter. on the Congrats

Brian O’Toole

Thanks Chris.

Operator

Quarter conclude will BlackSky's time Conference for are the Earnings questions. First you this at call XXXX And further today. Call. This there no joining Thank

You time. at may disconnect this

BlackSky Technology (BKSY) 8 May 242024 Q1 Earnings call transcript