Slide 1: Investor Overview September 2024
Investor Overview September 2024 Wall Street and lower Manhattan. © BlackSky 2024. All rights reserved.
Slide 2: Legal Disclaimer
Legal Disclaimer 2 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to BlackSky Technology Inc “BlackSky” or t
Slide 3: Offering Summary
Offering Summary 3 Issuer: BlackSky Technology Inc. Symbol / Exchange BKSY / NYSE Offering Type Registered Common Stock (100% Primary) Base Deal Size $35 million Over-Allotment Option 15% Marketing Thursday, September 19th – Tuesday, September 24th Expected Pricing Tuesday, September 24th (After Mar
Slide 4: Successfully Executing in the New Space Economy
Successfully Executing in the New Space Economy 4 Operational satellite constellation delivering mission- critical information with capacity to support high-margin revenue growth 1) Value does not include potential value from IDIQ contracts 2) Our long-term adjusted EBITDA margin target is not a pro
Slide 5: BlackSky at a Glance
1) As of 6/30/2024 2) Adjusted EBITDA is a non-GAAP financial measure. See Appendix for a reconciliation to the most comparable measure reported in accordance with GAAP 3) For the twelve month period ended 6/30/24 4) Worldwide median for image collection to delivery is 0.8 hours; with Analytics addi
Slide 6: Recent Achievements
Recent Achievements 6 Selected by NASA for Commercial SmallSat Services Award up to $476 million(1) on September 6th Awarded $40 million in new awards and extension agreements in Q2 supporting multiple U.S. and international government agencies First high resolution Gen-3 Satellite in final stages o
Slide 7: Global Threats Require Mission-Critical Space Technologies
Global Threats Require Mission-Critical Space Technologies 7 Nations Experiencing Expected to endure conflict fueled by political competition, regional crises, and civil disputes As regional conflicts become global threats, timely situational awareness becomes critical GLOBAL CONFLICT ECONOMIC UNCER
Slide 8: Space Based Intelligence is More Important than Ever
Growth in the Global Geospatial Analytics Market ($B) Source: MarketsandMarkets Space Based Intelligence is More Important than Ever 8 Attacks on Moscow’s warships have helped to establish an export corridor that could boost Kyiv’s war effort. – Financial Times, May 2, 2024. Image by BlackSky BlackS
Slide 9: BlackSky: Space Based Intelligence Designed to Meet Today's Mission-Critical Decisions
Key Capabilities Legacy Imaging(1) Legacy Mapping(2) Constellation Purpose Dynamic Monitoring 13 SATS VHR Imaging 6 SATS Static Global Mapping 100+ SATS Reliable Dynamic Hourly Monitoring Real-Time AI-Enabled Analytics Real-Time Autonomous Delivery Multi-Source Tasking and AI Analytics Multi-Spectra
Slide 10: BlackSky Spectra: The power of a purpose-built software platform
BlackSky Spectra® The power of a purpose-built software platform 10 12 Intuitive tasking interface Rapid delivery Automated AI-powered analytics Intuitive user interface brings the complexity of BlackSky’s data to the palm of its everyday user * Imagery of Incheon, South Korea • No geospatial data e
Slide 11: BlackSky Solutions Support a Range of Industry Applications
11 BlackSky Solutions Support a Range of Industry Applications Responsive tactical ISR for an edge on the ground Site monitoring for persistent situational awareness Indications and warning to streamline broad area search Space domain awareness for insight into in-space capabilities Moving target en
Slide 12: Spectra Delivers Real-Time Intelligence in Support of Counter-Drug Operations
International defense customer uses BlackSky’s self-service Spectra platform to task real-time imagery during counter drug operation BlackSky’s fully automated Spectra platform delivered timely and actionable intelligence directly into customer’s operations center Customers credit BlackSky with chan
Slide 13: AI Automation Reduces Analysts Workloads
13 Contract leverages BlackSky’s proven high-frequency monitoring and AI-enabled analytic capabilities Fully automated solution provides analytic services to monitor economic activity and military capabilities New contract is a follow on to a prior $60M – 5 Year EIM contract – expanding the governme
Slide 14: BlackSky Wins New Contract for Space Domain Awareness
BlackSky Wins New Contract for Space Domain Awareness; Expands Product Offerings Awarded September 2024 14 Space Situation is a new and growing market BlackSky constellation and Spectra platform can deliver real-time intelligence on space activity New award is a subscription-based contract for data
Slide 15: Trusted Partner to the World's Most Demanding Customers
Trusted Partner to the World’s Most Demanding Customers 15*Special Operations Command: for project(s) sponsored by the Air Force Research Laboratory
Slide 16: A Strong Track Record of Multi-Year Contract Wins
1) Contract valued up to $1.021 billion 2) Represents total ceiling value of IDIQ 3) Total contracted values include IDIQ figures (not fully contracted to BKSY) A Strong Track Record of Multi-Year Contract Wins Valued up to $2.3B(3) 16 Electro Optical Commercial Layer (EOCL) Commercial satellite ima
Slide 17: Gen-3 Expected to Launch in Q4 2024
17 AI Analytics – automated edge processing Low-latency space communications Short-wave Infrared (SWIR) improves visibility through smoke and haze, and extends visibility in low light conditions Established supply chain and production line reduces deployment timing Gen-3 constellation designed to ex
Slide 18: Strong Operating Leverage Developing Within Our Business
$15.4 $47.4 $65.4 $35.3 $11.2 $13.9 $13.6 $6.8 2021 2022 2023 1H 2024 Strong Operating Leverage Developing Within Our Business 18 1) Adjusted imagery and software analytical services cost of sales is a non-GAAP financial measure. See Appendix for a reconciliation to the most comparable measure repor
Slide 19: Compelling Operating Profile – Gen-3 Expected to Unlock Contracted Revenue
FY 2022 FY 2023 1H 2024 Long-Term Target(4) 81% Compelling Operating Profile – Gen-3 Expected to Unlock Contracted Revenue, Enabling Sustained Growth 19 Metric YoY Revenue Growth % 92% 69% 45% (45%) 45% 79% 64% (1%) 1) Imagery and software analytical service gross margin is a non-GAAP financial meas
Slide 20: Successfully Executing in the New Space Economy
Successfully Executing in the New Space Economy 20 • First-of-its-kind commercial service delivering dynamic, hourly monitoring from space • Revolutionizing on-demand access to space-based intelligence through our proprietary, AI- enabled software platform • Vertically integrated technology stack wi
Slide 21: Harness the power of a superpower
BLACK(SKY Harness the power of a superpower.
Slide 22: Appendix
BLACK SKY APPENDIX BLACK|SKY
Slide 23: Reconciliation of Total Revenue on a Trailing Twelve Month Basis
231) For the twelve month period ended June 30, 2024 2022 1H 2023 2H 2023 2023 1H 2024 TTM(1) Total Revenue 65,350$ 37,724$ 56,768$ 94,492$ 49,174$ 105,942$ BLACKSKY TECHNOLOGY INC. RECONCILIATION OF TOTAL REVENUE ON A TRAILING TWELVE MONTH BASIS (in thousands) (unaudited)
Slide 24: Reconciliation of Net Loss to Adjusted EBITDA
241) For the twelve month period ended June 30, 2024 2) See associated quarter’s earnings release or Form 10-Q/K for further details. BLACKSKY TECHNOLOGY INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (in thousands) (unaudited) 2021 2022 1H 2023 2H 2023 2023 1H 2024 TTM(1) Net (loss) (245,643)$
Slide 25: Reconciliation of Imagery and Software Analytical Service Cost of Sales
25 2021 2022 2023 1H 2024 Imagery and software analytical service costs, excluding depreciation and amortization 13,013$ 14,462$ 13,793$ 6,877$ Stock-based compensation for imagery and software analytical service costs (1,824) (553) (242) (104) Adjusted imagery and software analytical service costs,
Slide 26: Gross Margin Reconciliation
26 2022 2023 1H 2024 Imagery and software analytical service revenue 47,415$ 65,391$ 35,302$ Imagery and software analytical service costs, excluding depreciation and amortization (14,462) (13,793) (6,877) Imagery and software analytical service costs, excluding depreciation and amortization, as a %