In Q2 2022, satellite imagery and data provider BlackSky Technologies reported:

• Revenue of $15.1 million, up 105% from the prior year period.
• Net loss of $26.3 million.
• Imagery & software analytical services revenue improved 161% over the prior year’s quarter. Growth was  driven by accelerated demand from the U.S. and international governments. This segment made up 88% of total revenues.
• Engineering and systems integration revenue contributed $1.8 million in the second quarter.
• Operating expenses for the second quarter of 2022 were $27.0 million, including an $18.4 million satellite impairment loss. Operating expenses increased from $12.1 million to $24.4 million year-over-year on a comparable basis. The increase was primarily due to higher depreciation expense from additional satellites placed into orbit in 2021, investments in sales, software, and engineering hires, and the cost to operate a public company.
• Operating loss for the second quarter of 2022 was $21.7 million compared to an operating loss of $29.8 million in the second quarter of 2021.
• BlackSky’s cash balance at the end of June 2022 was $111.2 million. Long-term debt was $72 million.
• The company highlighted the Electro Optical Commercial Layer (EOCL) contract with the National Reconnaissance Office (NRO), valued at up to $1.021 billion over the next 10 years.