The sale, reported in a recent SEC filing, was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). Following this transaction, Lin retains ownership of 354,143 shares in the company. BlackSky maintains strong liquidity with a current ratio of 5.68 and impressive gross profit margins of nearly 70%. InvestingPro subscribers can access 15 additional key insights about BlackSky's financial health and market position through the comprehensive Pro Research Report. BlackSky maintains strong liquidity with a current ratio of 5.68 and impressive gross profit margins of nearly 70%. InvestingPro subscribers can access 15 additional key insights about BlackSky's financial health and market position through the comprehensive Pro Research Report.
The sale, reported in a recent SEC filing, was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). Following this transaction, Lin retains ownership of 354,143 shares in the company.
In other recent news, BlackSky Technology disclosed considerable growth and progress in its Third Quarter 2024 Earnings Conference Call. The company announced securing contracts worth up to $780 million, a 22% year-to-date revenue increase, and a positive adjusted EBITDA for the fourth consecutive quarter. BlackSky also raised over $45 million for its baseline Gen 3 satellite constellation, with the first Gen 3 satellite launch anticipated early in 2025.
The company's achievements include a $290 million contract with the NGA and a $476 million contract with NASA. They also reported a 13% increase in imagery and analytics revenue, reaching $52.6 million, and professional services revenue soaring by 52% to $19.1 million.
These are recent developments that also include BlackSky's plan to maintain its 2024 revenue guidance of $102 to $118 million and adjusted EBITDA of $8 to $16 million. The company expects to meet full-year financial goals despite some timing delays and anticipates about $26 million in milestone payments over the next 12 months. Regular Gen 3 satellite launches are scheduled to begin in 2025 to meet growing customer demand.
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