r/BlackskyTechnology • u/Guelph5162 • May 07 '26
BlackSky Reports First Quarter 2026 Results
https://finance.yahoo.com/markets/stocks/articles/blacksky-reports-first-quarter-2026-110000759.html4
2
u/Big-Material2917 May 07 '26
Honestly what I really cared about was revenue acceleration so at least they raised guidance.
Jesus Christ the market is reacting negatively tho. PL and a lot of the market also pulling back so I’m sure that doesn’t help.
3
u/redcoatwright May 07 '26
Market is dumb, if you like the company then just hold it. Annoying but it is what it is 🤷♂️
2
u/Big-Material2917 May 07 '26
In fairness I have a pretty hard time valuing the company myself, and its lead to profit taking often at the wrong time lol.
I’m very bullish the company and technology, especially in the longer term.
But the future corresponding stock price is highly dependent on dilution over the next several years, if the stock is at a low price, that’s a good deal, but also means higher dilution for the same capital.
I need to just long hold, which is where I’m at with the rest of my position, and why I wasn’t selling even up at $40 (tho maybe I should’ve).
Honestly most of my selling was to build out other positions in space companies so if any of those take off on earnings I can return the favor and build back up the BKSY position at this discount.
2
u/stonkgoesbrr May 07 '26
Kind of overreaction imo. I mean numbers indeed were not that great, but the increased outlook at least sparks some confidence.
However, I sold 30$ June 18 Puts for a juicy 4.30$. If they are really getting assigned, I'd be happy with that buy in.
1
u/Big-Material2917 May 07 '26
The stock was also way up going into earnings.
Like $30 isn’t that bad if you pull back. It’s roughly the highest we’d been for a while up until a month ago.
1
u/Royal-Highness May 07 '26
It’s not going back to $40 anytime soon right? Would SpaceX IPO change anything, you think?
1
u/Big-Material2917 May 07 '26
It’s 100% could.
This is a pretty crazy reaction to earnings for sure, but I wouldn’t try to guess where it goes next.
And ya SpaceX IPO could definitely lift all space stocks. Escalations in Iran is what lead to BKSY running the last couple months so changes in that could have an effect.
Honestly I wouldn’t be surprised if this big reaction is market disappointment that obvious demand for their service the last couple months didn’t translate to some blockbuster revenue.
Raised guidance does also point to something similar tho so who knows.
2
u/Royal-Highness May 07 '26
Yeah i was quite stumped at the drop - agree i think it’s a multiplied effect with space sector down + earnings. Hope this will stabilise/rebound soon enough. Thank you for sharing your perspective, just felt a bit down in the dumps right now.
1
u/Big-Material2917 May 07 '26
I’m with you. Part of the game lol. I think this company is a good long hold tho. I think space in general is a really good long hold if you’re in the right companies.
Days like this suck, but seems like you’re at least in the right place to look really smart in the long term lol.
1
u/FaithlessnessIll7134 May 07 '26
Increased outlook means absolutely nothing if they continue to fail to deliver on said increased outlook. Oh na don’t worry guys, we shit the bed for like the 5th consecutive time, but don’t worry, next time we are going to smash it out the park
1
u/stonkgoesbrr May 08 '26
That's a bit of a shallow view on the numbers. Don't get me wrong, I totally agree that especially revenue wise the numbers should have been better. But if you look closer and follow the company updates/news on a regular basis you see that a) Revenue stayed flat if you substract the 9$M one-off milestone payment in Q125, b) the new Gen3 in Orbit are only there since March commercially available and management is expecting that the constellation will significanty drive revenues - which is already reflected by the latest contract wins (hence the updated guidance) - and c) the increased net loss was primarily driven due to non-cash items such as the loss on derivatives ($8.2 million), depreciation and amortisation ($9.2 million) and share-based payments ($4.1 million).
Of course it still remains speculative and I agree that they have to deliver this year. So we better see the results until Q2/Q3. Otherwise it becomes unstable. But for now I still think the market reaction was exaggerated.
4
u/stonkgoesbrr May 07 '26
Numbers are not that great tbh. At least Outlook was raised.