Slide 1: BlackSky Q2 2026 Earnings Webcast
August 6, 2026 BLACKSKY Q2 2026 EARNINGS WEBCAST © BlackSky 2026. All rights reserved. Confidential & Proprietary. 1
Slide 2: Legal Disclaimer
Legal Disclaimer FORWARD-LOOKING STATEMENTS Certain statements in this presentation may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. Words such as “believe,” “project,” “expect,” ” forecast,” “anticipate,” “estimate,” “intend,” “strat
Slide 3: Strong Sales Performance Accelerates Revenue and AEBITDA Growth
Strong Sales Performance Accelerates Revenue and AEBITDA Growth 86 aircraft and 22,258 vehicles automatically detected in BlackSky Spectra © BlackSky 2026. All rights reserved. Confidential & Proprietary. Farnborough International Airshow, United Kingdom | Gen-3 | July 20, 2026 3
Slide 4: Exceptional Performance and Unit Economics Distinguish Gen-3 as a Competitive Differentiator
Exceptional Performance and Unit Economics Distinguish Gen-3 as a Competitive Differentiator Extreme off nadir collection | London, England | Gen-3 | July 9, 2026 ©© BlackSky 2026. BlackSky AllAll 2026. rights reserved. rights Confidential reserved. && Confidential Proprietary. Proprietary. 4
Slide 5: Real-Time Space-Based Intelligence for a Rapidly Changing Global Landscape
Real-Time Space-Based Intelligence for a Rapidly Changing Global Landscape June 13 at 8:11 p.m. June 13 at 4:31 p.m. June 13 at 10:02 a.m. June 13 at 8:23 a.m. June 13 at 8:21 a.m. June 13 at 5:03 a.m. 3 vessels 9 vessels 82 vessels 28 vessels 20 vessels June 13 at 04:59 a.m. June 12 at 8:50 p.m. Ju
Slide 6: Gen-3 Flywheel Accelerating Top and Bottom-Line Growth
Gen-3 Flywheel Accelerating Top and Bottom-Line Growth Grew Q2 revenue 50% YoY driven by record space- based intelligence & AI services Delivered significant positive Adjusted EBITDA growth unlocked by Gen-3 imagery services Secured up to $200 million in YTD bookings, continuing to grow contracted b
Slide 7: 50% Revenue Growth Achieving a $100M Annual Run Rate Milestone
Space-Based Intelligence & AI Services 50% Revenue Growth Achieving a $100M Annual Run Rate Milestone Record revenue with ~50% sequential growth driven by accelerating Gen-3 demand High-margin Gen-3 recurring revenue driving adjusted EBITDA growth International revenues grew 150% YoY with multi-year
Slide 8: Scaling Gen-3 Production to Support Expanding Global Demand
Scaling Gen-3 Production to Support Expanding Global Demand Next three Gen-3 satellites in production © BlackSky 2026. All rights reserved. Confidential & Proprietary. Tukwila, WA 8
Slide 9: First Gen-3 Sovereign Satellite On Track for a 2026 Delivery
Mission Solutions First Gen-3 Sovereign Satellite On Track for a 2026 Delivery Strong execution on major programs contributing to revenue growth Multiple Gen-3 sovereign satellites are in production and on track to meet delivery schedules Actively working a strong pipeline of Gen-3 sovereign opportu
Slide 10: Success of Gen-3 Driving Advancement of Next-Generation Systems
Advanced Technology Programs Success of Gen-3 Driving Advancement of Next- Generation Systems Awarded eight-figure contract to accelerate AROS development to meet critical U.S. government mission needs Growing ATP portfolio drives 65% revenue growth quarter over quarter Won additional R&D contracts
Slide 11: AROS Addressing Critical Market Need and Creating TAM Expansion Opportunity
AROS Addressing Critical Market Need and Creating TAM Expansion Opportunity Contract with NRO accelerates program to support a targeted launch in 2028 Cost-effective, very-high resolution solution to support tactical mission applications Expected to fill upcoming capacity gap in government and comme
Slide 12: Q2 2026 Financial Results
Q2 2026 FINANCIAL RESULTS © BlackSky 2026. All rights reserved. Confidential & Proprietary. 12
Slide 13: Q2 Revenue
Q2 Revenue Strong Revenue Growth ($ in millions) 50% $33.3 YoY Growth Q2 revenue of $33.3 million, up 50% over the prior year quarter $3.7 $5.1 $22.2 Record space-based intelligence & AI services $3.2 revenue of $24.5 million, up 50% sequentially $1.0 from Q1 2026 $24.5 Strong execution on Mission S
Slide 14: Q2 Cash Operating Expenses
Q2 Cash Operating Expenses (1) Delivering Strong Operating Leverage ($ in millions) YoY cash operating expenses flat, while total 50% $33.3 YoY Revenue revenue increased 50% Growth Cash operating expenses of $20.0 million, $22.2 essentially flat compared to prior year quarter $19.4 $20.0 Cash operat
Slide 15: Q2 Adjusted EBITDA
Q2 Adjusted EBITDA (1) Operating Leverage Drives Adjusted EBITDA (1) Growth ($ in millions) Positive Adjusted EBITDA(1) of $4.7 million, up $7.5 million over the prior year quarter $7.5M $4.7 YoY Growth YoY increase mainly driven by Gen-3 space- based intelligence & AI services revenue Scaling high-
Slide 16: Cash and Liquidity
Cash and Liquidity Cash Position Improves to Over $240 Million ($ in millions) 108% YoY Growth $328.7 Q2 cash balance* of $244.1 million, up 157% $28.0 over the prior year quarter $30.6 $26.0 Successfully raised $150 million through ATM $157.9 offerings $6.9 $13.5 $42.6 $244.1 Liquidity position imp
Slide 17: Reaffirming 2026 Outlook
Reaffirming 2026 Outlook Full Year Guidance Revenue $130M - $150M Adj. EBITDA(1) $12M - $24M Capital Expenditures $50M - $60M (1) Blacksky has not reconciled its non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensati
Slide 18: Success of Gen-3 Unlocks Rapid Growth in 2026 and Beyond
Success of Gen-3 Unlocks Rapid Growth in 2026 and Beyond Pre-match activity an hour before kickoff for the World Cup soccer match between Argentina and Spain © BlackSky 2026. All rights reserved. Confidential & Proprietary. East Rutherford, New Jersey, USA | Gen-3 | July 19, 2026 18
Slide 19: Appendix
APPENDIX © BlackSky 2026. All rights reserved. Confidential & Proprietary. 19
Slide 20: Reconciliation of Net Loss to Adjusted EBITDA
BLACKSKY TECHNOLOGY INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (unaudited) (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net loss $ (20,834) $ (41,239) $ (50,497) $ (54,052) Interest income (1,348) (677) (2,372) (1,250) Interest expense 3,865 3,509
Slide 21: Reconciliation of Operating Expenses to Cash Operating Expenses
BLACKSKY TECHNOLOGY INC. RECONCILIATION OF OPERATING EXPENSES TO CASH OPERATING EXPENSES (unaudited) (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Operating expenses $ 32,066 $ 29,892 $ 64,045 $ 58,815 Depreciation and amortization (7,997) (7,208) (17,244)