BlackSky Technology Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
BKSY$23.84-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(37,798) | $(50,071) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 33,586 | 32,735 |
| Operating lease right of use assets amortization | 529 | 753 |
| Bad debt expense | 100 | 39 |
| Stock-based compensation expense | 8,244 | 7,725 |
| Amortization of debt issuance costs and non-cash interest expense | 6,727 | 249 |
| Gain on derivatives | (8,593) | (7,445) |
| Non-cash interest income | (630) | (551) |
| Loss on impairment of assets | 71 | — |
| Loss on disposal of assets | 44 | 127 |
| Income on equity method investment | — | (913) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,313) | 359 |
| Contract assets - current and long-term | (5,133) | (5,271) |
| Prepaid expenses and other current assets | (1,148) | (13) |
| Other assets | 2,525 | 1,144 |
| Accounts payable and accrued liabilities | (967) | 834 |
| Other current liabilities | 194 | (640) |
| Contract liabilities - current and long-term | 1,005 | (175) |
| Other liabilities | (10) | 5,316 |
| Net cash used in operating activities | (4,567) | (15,798) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (12,289) | (12,296) |
| Satellite procurement work in process | (28,410) | (23,603) |
| Purchases of short-term investments | (13,488) | (29,167) |
| Proceeds from maturities of short-term investments | 26,725 | 50,110 |
| Proceeds from sale of property and equipment | — | 22 |
| Net cash used in investing activities | (27,462) | (14,934) |
| Cash flows from financing activities: | ||
| Proceeds from equity issuances, net of equity issuance costs | 47,343 | 30,868 |
| Proceeds from issuance of debt | 20,000 | — |
| Proceeds from options exercised and ESPP shares purchased | 157 | 9 |
| Debt payments | (10,000) | — |
| Withholding tax payments on vesting of restricted stock units | (967) | (972) |
| Payments for debt issuance costs | (632) | — |
| Payments of transaction costs for debt modification | — | (1,311) |
| Payments of transaction costs related to derivative liabilities | — | (905) |
| Net cash provided by financing activities | 55,901 | 27,689 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 23,872 | (3,043) |
| Cash, cash equivalents, and restricted cash – beginning of year | 33,434 | 37,016 |
| Cash, cash equivalents, and restricted cash – end of period | $57,306 | $33,973 |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited condensed consolidated statements of cash flows:
| September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $56,159 | $32,138 |
| Restricted cash | 1,147 | 1,835 |
| Total cash, cash equivalents, and restricted cash | $57,306 | $33,973 |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $1,208 | $— |
| Cash paid for income taxes | 377 | 182 |
| Supplemental disclosures of non-cash financing and investing information: | ||
| Increase of debt principal for paid-in-kind interest | $4,105 | $3,490 |
| Property and equipment additions (credits received) accrued but not yet paid, net | 1,606 | (226) |
| Vendor financed satellite procurement costs | 1,500 | — |
| Credits from LeoStella applied to satellite procurement costs | 966 | 122 |
| Accretion of short-term investments' discounts and premiums | 630 | 531 |
| Capitalized stock-based compensation | 426 | 539 |
| Equity issuance costs accrued but not yet paid | 313 | 90 |
| Capitalized interest for property and equipment placed into service | — | 220 |
| Satellite procurement costs included in settlement with LeoStella | — | 36 |
| Debt modification costs accrued but not yet paid | — | 6 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.