Hawkeye 360, Inc. · NYSE:HAWK
Hawkeye 360 — Q2 2026 Earnings Presentation
30 slides from Hawkeye 360's earnings presentation, Aug 13, 2026
Slide 1: HawkEye 360 Investor Presentation
HAWKEYE 360 INVESTOR PRESENTATION August 2026
Slide 2: Disclaimer
Disclaimer Forward - Looking Statements This presentation includes forward - looking statements within the meaning of the "safe harbor" provisions of the Private Securiti es Litigation Reform Act of 1995. All statements contained in this presentation, other than statements of historical fact, are fo
Slide 3: And we are just getting started.
We are a next - generation radio frequency analytics, software, and technology provider to the defense and intelligence communities. We have combined deep expertise in signals intelligence, AI, and space to create a significant advantage for the U.S. and its allies. We are a leader in the generation
Slide 4: HawkEye 360 At A Glance
HawkEye 360 At A Glance 7 Years 5 Years 30+ 1 Billion+ Proprietary Data Collection Operational Deployment Satellites On Orbit Data Points Processed & Analyzed $49.8M $292M 14% ~40% Q2 2026 Adj. EBITDA International Portion of Q2 2026 Q2 2026 Revenue Backlog (1) Margin (2) Revenue Select Customers Na
Slide 5: Our Market and Industry
SECTION 1 Our Market and Industry
Slide 6: An Increasingly Complex World Demands Capabilities That Matter in Both Peace and Conflict
An Increasingly Complex World Demands Capabilities That Matter in Both Peace and Conflict 6
Slide 7: Defense Priorities and Budgets Are Accelerating a Shift to Space-Based Capabilities
Defense Priorities and Budgets Are Accelerating a Shift to Space - Based Capabilities Legacy Airborne ISR Programs Being Replaced By Space National Security Space Growing at Faster Rate than Expanding DoW Budget Capabilities U.S. DoW Budget FY19 – FY26 ($B) RDT&E and Procurement Budget for Space - B
Slide 8: HawkEye Participates in the $24B Spectrum Exploitation Market
HawkEye 360 Participates in the $24B Spectrum Exploitation Market GLOBAL GOVERNMENT SPENDING ON SPECTRUM EXPLOITATION, USD $B Total Addressable Market (TAM) • Government spending on • Spectrum Awareness (RF detection, monitoring, interpretation) 7% CAGR • RF Exploitation (extracting signals intellig
Slide 9: HawkEye Is Well Positioned to Capture Significant Market Share Within its Growing Market
HawkEye 360 Is Well Positioned to Capture Significant Market Share Within its Growing Market Breakdown of $24B TAM HawkEye 360’s Role Today Growth Vector Going Forward International • Significant penetration within US DoW • Continued expansion into US and Intelligence organizations Geography • Land
Slide 10: Tangible Growth Vectors With Clear Path to Achieve Each
Tangible Growth Vectors With Clear Path to Achieve Each 1 2 3 4 5 Field Upgraded Reduce Latency For Capitalize On Defense Pursue Commercial Proven M&A Growth Capabilities Tactical Decision Making Priorities Applications Engine • Expand “known” • Expand market with • Field tailored • Leverage existin
Slide 11: HawkEye 360's Competitive Differentiators
HawkEye 360’s Competitive Differentiators Illustrates our N of 1 Positioning Extensive scale and capabilities of Proprietary signal processing our constellation are hard to algorithms built by seasoned No Direct Competitors replicate for new entrants or by RF SIGINT specialists difficult traditional
Slide 12: Our Business
RNAS eer Fi @ Hawkeye" H ¢ , i. 1 A .} ‘ 4 \ SECTION 2 XS I A |. Our Business
Slide 13: Serving Customers with an Attractive Recurring Revenue Model
Serving Customers with an Attractive Recurring Revenue Model Built to Serve the Most Demanding Customers: The U.S. Government and its Allies Revenue Underpinned by Mission Value and Backlog Diversified Customer Base —Revenue Breakdown (1) (2Q26) PREDICTABILITY & VISIBILITY Driven by the mission - cr
Slide 14: How We Integrate into Our Customers Existing Intelligence Systems
How We Integrate into Our Customers Existing Intelligence Systems HawkEye 360 Role / Integration U.S. Intelligence Community • Provide unclassified, shareable data to empower partners and allies • Relieve pressure on high - end national systems by executing simpler mission sets Department of War • P
Slide 15: Comprehensive Product Portfolio with Flexible Service Model
Comprehensive Product Portfolio with Flexible Service Model OUR KEY OFFERINGS Problems Solved for Customer Raw signal to be used with customer’s processing Raw Data SPECTRUM EXPLOITATION Technical analysis of signals spectrum Geolocate, identify, and track ships of all types MARITIME INTELLIGENCE (i
Slide 16: Unique Technology Stack and Proprietary Signal Processing Platform Enables Our Differentiated Solutions
Unique Technology Stack and Proprietary Signal Processing Platform Enables Our Differentiated Solutions [ 1 ] [ 2 ] COLLECTION PROCESSING CUSTOMERS RF ALGORITHMS ANALYSTS [ 3 ] 3rd PARTY SENSORS ANALYTICS DATA NATIONAL PLATFORMS SENSORS ANALYTICS AGENTS AIRBORNE RF GROUND RF DATA EMITTER ANALYTICS G
Slide 17: The Constellation Today
[ 1 ] The Constellation Today Current Constellation • 30+ satellites operating in sun - synchronous polar orbit and mid - inclination orbits for global coverage • <45 mins of revisit globally POLAR ORBIT • 8+ commercial downlink ground stations Guaranteed global coverage across every latitude on • 3
Slide 18: Evolution of the HawkEye Constellation for Capability, Scale and Cost Efficiency
Evolution of the HawkEye 360 Constellation [ 1 ] for Capability, Scale and Cost Efficiency Block 2 Block 3 Block 4 • Clusters 2 through 14 • In- house design and build, successful • Advanced capabilities and payload demo flight K0 June 2024 size / weight / power to support • High heritage system wit
Slide 19: Signal Processing and Analytics Unlock Differentiated Analysis
Signal Processing and Analytics Unlock Differentiated Analysis [2] Signal Processing [ 3 ] [ 3 ] Analytics DETECT LOCATE IDENTIFY TRACK DESCRIBE PREDICT Detect the emitter signal Geolocate the emitter on Identify the type Maintain custody of the Understand the emitter Predict what the emitter from t
Slide 20: Our Growth and Financial Profile
SECTION 3 Our Growth and Financial Profile
Slide 21: Attractive Business Model Drives Revenue Scale and Visibility
Attractive Business Model Drives Revenue Scale and Visibility Long - Term Customer Relationships and Durable, Recurring Nature of Our Platform Drive Improving Revenue Quality TYPICAL CUSTOMER JOURNEY (ILLUSTRATIVE VALUES) Initial Operations Integrated Mission Partner • Initial recurring collections
Slide 22: Operating Leverage and Capital Efficiency Expand Our Profitability
Operating Leverage and Capital Efficiency Expand Our Profitability Our Financial Strategy Benefits From Tailwinds on Both Profitability and Capital Efficiency Improved Operating Leverage… …with Significant Capital Efficiency Smaller Satellites = Significant 1 Cost Reduction Revenue ∆ 2 More Signals
Slide 23: Financials: Q2 Measures
Financials: Q2 Measures Revenue ($M) Net Income ($M) Operating Cash Flow ($M) $1.6 +87% $11.6 $49.8 $4.6 - $15.3 $28.8 U.S. Q2 2025 Q2 2026 Q2 2025 Q2 2026 $26.6 Adjusted EBITDA (1) ($M) Free Cash Flow (1) ($M) $5.4 $7.8 $17.6 $7.0 $21.0 Int’l $9.0 - $1.3 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2
Slide 24: Supplementary Materials
APPENDIX Supplementary Materials
Slide 25: Purpose-Built for the Warfighter Over 10+ Years
Purpose - Built for the Warfighter Over 10+ Years Dec 2018 Dec 2019 Feb 2022 Dec 2023 Aug 2024 Dec 2025 Pathfinder launch First NRO contract GPS jamming Aurora acquisition from Scale milestone – 10th ISA acquisition geolocation Maxar Technologies cluster deployed operationalized, significantly accel
Slide 26: We Are Led by a World-Class Team of Leaders, Advisors, and Investors
We Are Led by a World - Class Team of Leaders, Advisors, and Investors Highly Seasoned Team with 25+ Years of Average Industry Experience Todd Probert CHIEF OPERATING OFFICER John Serafini 35+ years of experience CHIEF EXECUTIVE • CACI, President National Security & Innovative Solutions OFFICER • Ra
Slide 27: RF Spectrum Is a Critical Part of Securing the Modern Battlespace
RF Spectrum Is a Critical Part of Securing the Modern Battlespace Positioning, Communicate Command Sense Deny Navigation, Timing (PNT) Assured Machine - to- Machine Radar, Signals Global Positioning Jamming and Communications Interface Intelligence System Spoofing 30 MHz 70 MHz Air Defense Air Defen
Slide 28: Non-GAAP Financial Measure Reconciliation
Non- GAAP Financial Measure Reconciliation Adjusted EBITDA For the Quarter Ended June 30, ($ in millions) 2025A (1) 2026A Net Income / (Loss) 1.6 (15.3) (- ) Interest income (0.9) (2.9) (+) Interest expense 0.0 0.9 (+) Income tax expense — 0.3 (+) Depreciation and amortization 5.9 8.6 (+) Stock - ba
Slide 29: Non-GAAP Financial Measure Reconciliation
Non- GAAP Financial Measure Reconciliation Free Cash Flow For the Quarter Ended June 30, ($ in millions) 2025A (1) 2026A Net cash provided by operating activities 4.6 11.6 (+) Purchases of satellites, property, and equipment (5.9) (6.2) Free Cash Flow (1.3) 5.4 Note: (1) HawkEye 360 Standalone 29
Slide 30: | @ Hawkeye :
| @ Hawkeye :