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BlackSky posts 50% year-over-year Q2 revenue growth and $100M run rate
Management attributed the growth to Gen-3 imagery scaling and said international subscription revenue grew 150% year over year to make up more than 80% of funded backlog.
BlackSky Technology reported a major inflection in Q2 2026, with revenue up 50% year over year as it scaled Gen-3 imagery services and generated record space-based intelligence revenue, according to a Yahoo Finance earnings call summary.
The company said it reached a $100 million annual run rate for high-margin imagery and AI subscription services, which management described as a key step toward accelerating incremental earnings growth. BlackSky also pointed to Gen-3’s 35-centimeter imaging performance and unit economics, saying it costs about one-fifth as much as legacy platforms and helped capture 90% of its current growth.
BlackSky’s international footprint expanded further, with international subscription revenues growing 150% year over year and now representing more than 80% of the company’s total funded backlog. The summary also said the company held cash operating expenses flat despite 50% revenue growth, highlighting operating leverage as higher-margin services increase in the mix.
Looking ahead, BlackSky reaffirmed full-year 2026 guidance, with revenue expected between $130 million and $150 million and adjusted EBITDA between $12 million and $24 million. The company indicated it expects to have eight Gen-3 satellites on orbit by the end of 2026 and is accelerating its AROS program for a targeted 2028 launch, while liquidity rose to more than $325 million after a $150 million capital raise via ATM offerings.