Blacksky Technology Inc. · NYSE:BKSY
Blacksky Technology — Osprey Technology Acquisition — SPAC Merger (September 2021)
39 slides from Blacksky Technology's SPAC merger presentation, Sep 1, 2021
Slide 1: Investor Presentation September 2021
Exhibit 99.1 S E P T E M B E R 2021 INVESTOR PRESENTATION 1Exhibit 99.1 S E P T E M B E R 2021 INVESTOR PRESENTATION 1
Slide 2: Confidentiality, Proprietary Information, and Forward Looking Statements
Confidentiality, Proprietary Information, and Forward Looking Statements Confidentiality and Disclosures. This presentation has been prepared for use by Osprey Technology Acquisition Corp. (“Osprey”) and BlackSky Holdings, Inc. (“BlackSky”) in connection with their proposed business combination. Thi
Slide 3: Confidentiality, Proprietary Information, and Forward Looking Statements (cont.)
Confidentiality, Proprietary Information, and Forward Looking Statements (cont.) Use of Non-GAAP Financial Metrics. This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted EBITDA. These non-GAAP measures are an addition, and not a substi
Slide 4: Transaction Overview
Transaction Overview Sources Amount % Osprey Technology Acquisition Corp. (NYSE: SFTW) is a publicly listed special purpose acquisition company Transaction Seller Rollover $925 63% Transaction with ~$318m cash in trust Size Size SPAC Cash in Trust 318 21% Raised $180m of PIPE commitments, including
Slide 5: Recent Highlights Since June 2021 Investor Day
Recent Highlights Since June 2021 Investor Day 2021 and 2022 Growing Government Pipeline Grows to 2.5b $2.5 Billion Revenue Growth Demand for BlackSky 1.7b on Track Results in Major Wins 2021 Revenue on track to nearly Won ~$30m contract for AI analytics Expanded re-seller network with new double fr
Slide 6: BlackSky and Palantir Collaboration Aids Government Agencies in Predicting Events
BlackSky and Palantir Collaboration Aids Government Agencies in Predicting Events BlackSky also Secures Investment from Palantir and Enters into Multi-Year Strategic Partnership Delivers real-time actionable intelligence for Defense and Intelligence customers Integrates BlackSky Imagery and analytic
Slide 7: 30-Day Persistent Monitoring of the Fall of Afghanistan with Spectra AI
30-Day Persistent Monitoring of the Fall of Afghanistan with Spectra AI 300+ Spectra AI-Generated Collection Tips 200+ Images Captured 90-Minute Latency from Collection to Delivery 09 AUGUST 2021 12 AUGUST 2021 13 AUGUST 2021 03:39 UTC 04:47 UTC 13:16 UTC Kabul Evacuation Kunduz Combat Capture of He
Slide 8: 12-Month Persistent Monitoring of Port Hedland, Australia
12-Month Persistent Monitoring of Port Hedland, Australia Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 812-Month Persistent Monitoring of Port Hedland, Australia Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 8
Slide 9: BlackSky is Defining the Category of Real-time Global Intelligence
BlackSky is Defining the Category of Real-time Global Intelligence Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 9 9BlackSky is Defining the Category of Real-time Global Intelligence Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 9 9
Slide 10: BlackSky is an AI-driven SaaS Platform Powered by our Proprietary Space and Terrestrial Sensor Network
BlackSky is an AI-driven SaaS Platform Powered by our Proprietary Space and Terrestrial Sensor Network We Deliver Real-time Information, Insights and Analytics about our Changing World Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 10
Slide 11: BlackSky's Platform is Disrupting a Highly Fragmented Market
BlackSky’s Platform is Disrupting a Highly Fragmented Market by Providing Customers an Intuitive SaaS Experience Today BlackSky Integrates Multiple Space & Terrestrial Data Sources to Deliver AI-enabled Insights Apps Data Feeds APIs AI / ML-POWERED ANALYTICS Global Intel Database ETL / MULTI-SOURCE
Slide 12: BlackSky Investment Highlights
BlackSky Investment Highlights o Proprietary, AI-driven SaaS Platform and A First Mover Space Network o Disruptor in a Large and Expanding Market 1 $40bn+ TAM Opportunity BlackSky is Defining a New o Intuitive SaaS Experience with Affordable Data & TAM Expansion Category of Analytics Addressing Pent
Slide 13: BlackSky Delivers Real-time Insights, Information & Analytics about Our Changing World
BlackSky Delivers Real-time Insights, Information & Analytics about Our Changing World Monitor the World Detect and Analyze in Real-time Global Activity Proprietary Data Lake Understand and Predict Change Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 13BlackSky Delivers
Slide 14: BlackSky's AI-driven SaaS Platform is Disrupting an Inefficient Industry
BlackSky’s AI-driven SaaS Platform is Disrupting an Inefficient Industry AI-driven SaaS Platform Delivering Insights, Current Market is Highly Fragmented Information and Analytics Consultants / Experts Data Providers End User Geospatial End User Analyst Software Providers Slow and inefficient proces
Slide 15: AI-Powered SaaS Platform Monitoring Global Activity in Real-time
AI-Powered SaaS Platform BlackSky is monitoring Global Activity in Real-time Observations 1M per day from our proprietary data lake of Data >100K Sources delivering Significant ~18K Events per day Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 15AI-Powered SaaS Platform
Slide 16: BlackSky is Revolutionizing the Customer Experience
BlackSky is Revolutionizing the Customer Experience BLACKSKY REAL-TIME GLOBAL LEGACY EARTH DATA INTELLIGENCE $120K $12K for imagery for on-demand imagery in 2-3 days & insights in ~90 minutes Outdated & Inefficient Current Experience Experience 1. Call customer 5. Wait 2 to 3 days 9. Generate report
Slide 17: Spectra Tasking From Collection to Insights in ~90 Minutes
Spectra Tasking From Collection to Insights in ~90 Minutes Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 17Spectra Tasking From Collection to Insights in ~90 Minutes Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 17
Slide 18: Client Case Study: US and International Defense and Intelligence Agencies
CLIENT CASE STUDY US and International Defense and Intelligence Agencies OPERATIONAL REQUIREMENTS BlackSky’s Solution Meets • Assured Access to task collections of key facilities Needs for Both Intelligence and and military activity on a Regional and Global Scale • High Frequency Dawn to Dusk Collec
Slide 19: Client Case Study: Fortune 500 Engineering & Construction Companies
CLIENT CASE STUDY 14 Fortune 500 Engineering & Construction Companies $10bn+ Global Construction Company BUSINESS REQUIREMENTS • Monitor progress of building, warehouse and highway construction (e.g., BlackSky’s SaaS how many miles or square feet were constructed per day) • Monitor large-scale highw
Slide 20: Commercial Use Case: Fortune 500 Property & Casualty Insurance Companies
COMMERCIAL USE CASE 25 Fortune 500 Property & Casualty Insurance Companies $40bn+ Insurance Company BUSINESS REQUIREMENTS BlackSky’s SaaS Solution • Conduct post-disaster damage assessments • Early damage assessments Provide on-demand imaging and analytics through a • Prioritize search and rescue Sa
Slide 21: Strong Demand from World-Class Customers
Strong Demand from World-Class Customers Expanding Customer Base Robust Pipeline Growth High Revenue Visibility (# of customers) ($ in billions) ($ in millions) ~150 YoY REVENUE GROWTH $2.5 +4.2x 54% 91% 183% $1.7 $114 11% ~50 $0.6 $40 89% $21 9% 14 91% 2020A 2021E 2022E Jan 2020 Dec 2020 Jun 2021 2
Slide 22: Expansion of Existing Contracts Drives Significant 2022 Revenue Visibility
Expansion of Existing Contracts Drives Significant 2022 Revenue Visibility $114 $114 2022 Net New Total Revenue ~100% of 2021E revenue expected to be in contracted ($ in millions) ~5x backlog by end of Q3 ~90% of 2022E revenue from expansion of and follow-on ~2x to existing contracts ~4x $40 $40 ~75
Slide 23: Revenue Growth and Operating Leverage
Revenue Growth and Operating Leverage 1 Revenue Gross Profit Adj. EBITDA ($ in millions) ($ in millions) ($ in millions) 54% 91% 183% 98% 72% 40% 16% (13%) 20% 62% 74% 78% 80% 2% 32% 46% 45% $546 Limited Marginal $436 Costs to Scale $246 $389 $305 $177 $226 $168 $72 $114 $71 $40 $21 $14 ($3) $8 $2 $
Slide 24: BlackSky at a Glance
BlackSky at a Glance BlackSky is Defining a New Category in Real-time Global Intelligence Ready to Scale A First Mover A First Mover ~71% ~92% 80% / 45% in Real-time 2019A – 2021E 2021E – 2025E Gross / Adj. EBITDA 1 Global Intelligence Revenue CAGR Revenue CAGR Margins at Scale 14 11 $340m $2.5bn 2
Slide 25: Market Opportunity & Competitive Landscape
MARKET OPPORTUNITY & COMPETITIVE LANDSCAPE 25MARKET OPPORTUNITY & COMPETITIVE LANDSCAPE 25
Slide 26: Highly Fragmented Market Ready for Disruption
Highly Fragmented Market Ready for Disruption End User Highly fragmented market for data, analysis and software Geospatial Analyst Large ecosystem with no single scale Space Data Consultants / dominant category owner — Experts — Many players provide point solutions without addressing customer needs
Slide 27: Secular Mega Trends Driving High-growth Outlook
Secular Mega Trends Driving High-growth Outlook Defense industry shift to space-based tactical ISR 1 Estimated TAM $40+ ($ in billions) Commercial demand for real-time geospatial intelligence 2 Proliferation of GPS-enabled devices 3 $13+ Web mapping services shift to real-time updates 4 2020 2025 So
Slide 28: BlackSky has built a Platform of Critical Capabilities to Disrupt the Market
BlackSky has built a Platform of Critical Capabilities to Disrupt the Market Revolutionize the Customer Experience Vertically Integrated Platform Space Consultants/ Software/ Data Experts Analytics SaaS Platform Frequency Dusk-to-dawn High Revisit Intuitive platform for High revisit rate and low Fle
Slide 29: BlackSky is Disrupting a Large and Expanding Market for Real-time Global Intelligence
BlackSky is Disrupting a Large and Expanding Market for Real-time Global Intelligence TAM (2025): $40bn+ End Users High Large On-demand real-time Decision makers global intelligence Business analysts Intuitive self-service SaaS platform Insights Operations staff TAM Affordable data and analytics Exp
Slide 30: Enabling a Revolutionary Customer Experience
Enabling a Revolutionary Customer Experience Increases speed Reduces high Lowers total Integrated directly Easy to insights start-up, data, cost of into customer to Use software and ownership workflows staffing costs Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 30Enabl
Slide 31: Executing against Clear Milestones with Upside Potential
Executing against Clear Milestones with Upside Potential On Track to Meet Near-term Milestones Contracted backlog provides significant revenue visibility Multiple Levers to Accelerate for 2021 and 2022 revenue Growth Plan New multi-year contract wins and extensions strengthen Strategic M&A out year
Slide 32: Appendix
APPENDIX 32APPENDIX 32
Slide 33: BlackSky Financial Summary
BlackSky Financial Summary ($ in millions) FY ending 12/31 2019A 2020A 2021E 2022E 2023E 2024E 2025E Imagery $1 $3 $11 $61 $148 $261 $348 Data, Software & Analytics 13 16 17 33 67 113 180 Engineering & Integration 0 3 12 20 12 16 18 Revenue $14 $21 $40 $114 $226 $389 $546 % growth 54% 91% 183% 98% 7
Slide 34: Reconciliation of Non-GAAP Financials
Reconciliation of Non-GAAP Financials ($ in millions) FY ending 12/31 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2 Net Income (Loss) from Continuing Operations ($66) ($20) ($272) ($99) ($23) $69 $105 (+) Depreciation 6 8 21 40 52 79 77 (+) Amortization 1 1 1 1 1 1 1 (+) Interest 14 5 160 5 8 8 1 (+)
Slide 35: Client Case Study: Fortune 500 Energy Companies
CLIENT CASE STUDY 55 Fortune 500 Energy Companies $100bn+ Oil & Gas Company BUSINESS REQUIREMENTS • Global oil and gas company using geospatial data in the Security Operations Center (SOC) to monitor oil fields, BlackSky’s Disruptive Solution tank farms, and to respond to natural disasters and crise
Slide 36: Client Case Study: Global Environmental Company
CLIENT CASE STUDY $2bn+ Global Environmental Company BUSINESS REQUIREMENTS • Monitor excessive clearing of timber, earth disturbance in / around mining sites BlackSky’s Disruptive Solution CURRENT MARKET APPROACH Provide on-demand imaging and analytics • Human inspections of remote sites to monitori
Slide 37: New Members of BlackSky Management Team
New Members of BlackSky Management Team Johan Chris Henry Broekhuysen Lin Dubois F i n a n c i a l General Counsel CDO A d v i s o r 19+ years working with Domestic & international business, government and experience leading telecom Founding Principal at Open legal teams to spur growth companies thr
Slide 38: New Board Members
New Board Members Dr. Magid M. Tim Harvey James Abraham Tolonen Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 38New Board Members Dr. Magid M. Tim Harvey James Abraham Tolonen Copyright © BlackSky 2021. All rights reserved. Confidential & Proprietary. 38
Slide 39: BLACK(SKY
BLACK(SKY Be The First To Know
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