BlackSky Technology Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
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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Item 1. Financial Statements Condensed Consolidated Balance Sheets
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $28,815 | $13,056 |
| Restricted cash | 1,103 | 1,322 |
| Short-term investments | 117,674 | 39,406 |
| Accounts receivable, net of allowance of $69 and $45, respectively | 3,969 | 14,701 |
| Contract assets | 36,040 | 27,852 |
| Inventories | — | 6,043 |
| Prepaid expenses and other current assets | 13,441 | 4,356 |
| Total current assets | 201,042 | 106,736 |
| Property and equipment - net | 72,865 | 45,613 |
| Operating lease right of use assets - net | 3,571 | 4,029 |
| Goodwill | 10,279 | 10,260 |
| Intangible assets - net | 4,858 | 5,446 |
| Satellite work in process | 79,552 | 80,601 |
| Other assets | 8,690 | 1,461 |
| Total assets | $380,857 | $254,146 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $11,934 | $20,419 |
| Contract liabilities - current | 21,662 | 2,183 |
| Debt - current portion | 5,770 | 1,927 |
| Other current liabilities | 12,287 | 1,493 |
| Total current liabilities | 51,653 | 26,022 |
| Operating lease liabilities | 7,641 | 8,048 |
| Derivative liabilities | 26,784 | 17,964 |
| Deferred revenue - long-term | 14,063 | — |
| Long-term debt - net of current portion | 189,291 | 105,736 |
| Other liabilities | 369 | 2,387 |
| Total liabilities | 289,801 | 160,157 |
| Commitments and contingencies (Note 17) | ||
| Stockholders’ equity: | ||
| Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 35,991 and 30,960 shares; outstanding, 35,695 shares and 30,663 shares as of September 30, 2025 and December 31, 2024, respectively. | 4 | 3 |
| Additional paid-in capital | 816,632 | 750,174 |
| Accumulated deficit | (725,580) | (656,188) |
| Total stockholders’ equity | 91,056 | 93,989 |
| Total liabilities and stockholders’ equity | $380,857 | $254,146 |
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