Slide 1: BlackSky Q3 2024 Earnings Webcast
November 7, 2024 BLACKSKY Q3 2024 EARNINGS WEBCAST © BlackSky 2024. All rights reserved. Public information. 1
Slide 2: Legal Disclaimers
Legal Disclaimers 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,” “anticipate,” “estimate,” “intend,” “strategy,” “futur
Slide 3: Recent Highlights
Recent Highlights Won new awards and extension agreements valued up to $780 million supporting multiple U.S. and international government agencies Up to $780 million in Raised over $45 million in growth capital to new multi-year contracts fully fund baseline Gen-3 constellation demonstrates strong F
Slide 4: Awarded $290 Million Multi-Year IDIQ Contract to Monitor Global Economic Activity
Awarded $290 Million Multi-Year IDIQ Contract to Monitor Global Economic Activity Contract with NGA for Luno A program, a follow-on contract to the previous EIM program Our advanced AI technology will power automated delivery of intelligence and change-monitoring over critical areas of interest Blac
Slide 5: Awarded $476 Million Multi-Year IDIQ Contract to Support Applied Science Research
Awarded $476 Million Multi-Year IDIQ Contract to Support Applied Science Research Contract with NASA supports the agency’s Commercial Smallsat Data Acquisition Program BlackSky to deliver time-diverse, high- revisit imaging data to provide intelligence around critical changes taking place on Earth I
Slide 6: Continuing to Win and Expand New Contracts with Defense and Intelligence Customers
Continuing to Win and Expand New Contracts with Defense Pontoon bridge destroyed and Intelligence Customers Signed a $6 million contract expansion with existing international defense customer increasing access to Gen-2 imagery services August 21, 2024 | 5:37 p.m. Continued to win contracts and optio
Slide 7: BlackSky's New Space Domain Awareness Service Lands Seven-Figure Contracts
Chinese Space Station BlackSky’s New Space Domain Awareness Service Lands Seven-Figure Contracts Expanded BlackSky’s product offering to provide automated non-Earth imaging (NEI) International Space Station services Awarded seven-figure contracts with government and commercial customers to meet grow
Slide 8: First Gen-3 Satellite On Track for Launch
First Gen-3 Satellite On Track for Launch First Gen-3 satellite in final testing phase in preparation for launch Preparing for shipment of first unit to Rocket Lab’s launch site where a dedicated Electron rocket is ready to go Launch window expected to open 3 to 4 weeks after shipment © BlackSky 202
Slide 9: Gen-3 Production Line Up and Running
Gen-3 Production Line Up and Running Assembly and integration of next Gen-3 satellites are underway Planning a regular cadence of launches starting in 2025 To further optimize Gen-3 supply chain and production operations, acquired partner stake in LeoStella © BlackSky 2024. All rights reserved. Publ
Slide 10: YTD 2024 Financial Results
YTD 2024 FINANCIAL RESULTS © BlackSky 2024. All rights reserved. Public information. 10
Slide 11: YTD Revenue
YTD Revenue Strong Year-over-Year Revenue Growth ($ in millions) +22% $71.7 YoY Growth YTD revenue growth of 22% compared to the prior year period $59.0 $19.1 $12.6 Continued year-over-year growth in high- margin imagery and analytics revenue $52.6 New contract awards expected to drive $46.4 additio
Slide 12: YTD Imagery and Analytics Cost of Sales
YTD Imagery and Analytics Cost of Sales Strong Operating Leverage Drives Profitability ($ in millions) +$6.2 $52.6 Imagery and analytics cost of sales(1) remained $46.4 flat year-over-year while we continue to grow revenues Incremental revenues from high-margin imagery and analytic services flow dir
Slide 13: YTD Cash Operating Expenses
YTD Cash Operating Expenses Disciplined Cost Management ($ in millions) -1% YoY Change YTD cash operating expenses(1) are lower $48.7 $48.0 compared to the prior year period, while total revenue increased 22% Cash operating expenses(1) of $48.0 million, down 1% from the prior year period Disciplined
Slide 14: YTD Adjusted EBITDA
YTD Adjusted EBITDA Strong Improvement in Adjusted EBITDA(1) ($ in millions) $4.3 Positive Adjusted EBITDA(1) of $4.3 million, up $14.6 million over the prior year period 4th consecutive quarter of positive Adjusted EBITDA Higher revenues, gross margin growth, and cost savings across the business dr
Slide 15: 2024 Outlook
2024 Outlook Delivering Strong Long-Term Growth ($ in millions) Revenue +51% 4 Yr. CAGR Growth • Maintain guidance for full year 2024 revenue of $102M - $118M • Actively ramping up recent contract awards and working to close a $102 - $118 number of sizable, multi-year contracts in Q4 $94 Adjusted EB
Slide 16: Well-Positioned for Our Next Phase of Growth
Well-Positioned for Our Next Phase of Growth Near record multi-year contract bookings BlackSky’s demonstrate growing demand for BlackSky’s High-Frequency space-based intelligence solutions Constellation Capital raise strengthens our balance sheet Gen-3 satellites readying for launch to meet strong d
Slide 17: © BlackSky 2024. All rights reserved. Public information.
© BlackSky 2024. All rights reserved. Public information. 17
Slide 18: Appendix
APPENDIX © BlackSky 2024. All rights reserved. Public information. 18
Slide 19: Reconciliation of Net (Loss) Income to Adjusted EBITDA
BLACKSKY TECHNOLOGY INC. RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA (unaudited) (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income $ (12,591) $ 675 $ (37,798) $ (50,071) Interest income (257) (519) (987) (1,602) Interest
Slide 20: Reconciliation of Imagery and Software Analytical Service Cost of Sales
BLACKSKY TECHNOLOGY INC. RECONCILIATION OF IMAGERY AND SOFTWARE ANALYTICAL SERVICE COST OF SALES TO ADJUSTED IMAGERY AND SOFTWARE ANALYTICAL SERVICE COST OF SALES (unaudited) (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Imagery and software anal
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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Operating expenses $ 29,129 $ 29,009 $ 89,362 $ 88,549 Stock-based compensation for selling, genera