BlackSky Technology (BKSY) Q3 FY2026 earnings: revenue $43 million, up 118.4% on the year

BlackSky Technology Inc. (BKSY) reported revenue of $43 million for Q3 FY2026, the quarter ended 30 September 2026, up 118.4% on the same quarter a year earlier. Net income was $19 million, and diluted earnings per share $0.10. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$43 million

+118.4% on the year · +28.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

0.9%

-85.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

$19 million

Q4 FY2024Q3 FY2026

Diluted EPS

$0.10

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 narrowed, 1 kept.

Revenue rose 118% year over year: The company reported total revenue of $42.8 million, up $23.2 million or 118% from $19.6 million in the third quarter of 2025.
Gen-3 demand drove the increase: Management attributed the increase to accelerating customer demand for Gen-3, which drove space-based intelligence and AI services revenue of $32.7 million.
Net income against a prior-year loss: Net income was $18.5 million, or $0.10 diluted EPS. Management cited operating results and a $19.7 million gain on derivatives tied to equity warrants and other instruments.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	42.8	33.3	19.6	+28.6%	+118.4%
Research and development	0.5	0.3	0.0	+58.1%	+1,433.3%
Selling, general and administrative	25.4	23.8	21.7	+6.8%	+16.8%
Operating income	0.4	-7.8	-16.8
Operating margin	0.9%	-23.4%	-85.8%
Interest expense	3.6	3.9	4.0	-6.3%	-10.3%
Pre-tax income	18.5	-20.8	-15.3
Income tax	0.0	0.0	0.0
Effective tax rate	0.0%	n/a	n/a
Net income	18.5	-20.8	-15.3
Net margin	43.2%	-62.5%	-78.2%
Diluted EPS	$0.10	-$0.54	-$0.44

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	3.6	-3.5	-39.0
Capital expenditure	3.5	3.4	3.9	+2.0%	-9.7%
Free cash flow	0.1	-6.9	-42.8
Free cash flow margin	0.2%	-20.8%	-218.3%
Cash from investing	-2.3	-136	-60.6
Cash from financing	-2.4	145	106
Depreciation and amortisation	7.5	8.0	7.9	-6.1%	-4.5%
Share-based compensation	4.7	4.3	3.7	+9.1%	+28.8%
Diluted shares, weighted	43m	38m	35m	+12.6%	+23.0%
Shares outstanding at period end	41m	41m	36m	+1.2%	+15.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	235	212	91.1	+11.1%	+158.1%
Debt	226	217	202	+4.1%	+11.8%
Operating lease liabilities	9.9	10.1	7.6	-1.8%	+29.3%
Other liabilities	54.7	78.3	80.1	-30.1%	-31.7%
Total liabilities and equity	526	517	381	+1.6%	+38.0%
Fixed assets	105	91.0	72.9	+15.2%	+43.9%
Goodwill	10.3	10.3	10.3	0.0%	0.0%
Intangible assets	3.5	3.5	4.9	0.0%	-28.0%
Investments	185	197	118	-6.0%	+57.5%
Cash and equivalents	27.4	36.9	28.8	-25.7%	-4.8%
Receivables	25.1	28.0	4.0	-10.1%	+533.6%
Inventory	6.2	6.2	0.0	0.0%
Other assets	163	144	142	+13.1%	+14.3%
Total assets	526	517	381	+1.6%	+38.0%

Questions

What was BlackSky Technology's revenue in Q3 FY2026?

BlackSky Technology (BKSY) reported revenue of $43 million for Q3 FY2026, the quarter ended 30 September 2026, up 118.4% on the same quarter a year earlier.

How much did BlackSky Technology earn in Q3 FY2026?

Net income for Q3 FY2026 was $19 million, and diluted earnings per share $0.10.

When did BlackSky Technology report Q3 FY2026 results?

BlackSky Technology filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022 †	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	11.5	13.9	15.1	16.9	19.4	18.4	19.3	21.3	35.5	24.2	24.9	22.5	30.4	29.5	22.2	19.6	35.2	20.8	33.3	42.8
R&D	0.0	0.1	0.1	0.2	0.3	0.2	0.2	0.1	0.1	0.5	0.3	0.0	0.6	0.2	0.0	0.0	0.1	0.2	0.3	0.5
SG&A	28.7	22.5	17.7	18.8	20.6	18.9	18.8	17.6	17.3	18.8	18.2	18.0	19.1	21.4	22.7	21.7	21.6	22.6	23.8	25.4
Operating income	-31.9	-27.1	-21.7	-19.4	-18.3	-16.9	-19.9	-14.5	-4.6	-13.3	-11.7	-13.2	-6.1	-12.0	-13.9	-16.8	-4.2	-18.5	-7.8	0.4
Operating margin	-278%	-195%	-144%	-115%	-94%	-92%	-103%	-68%	-13%	-55%	-47%	-59%	-20%	-41%	-63%	-86%	-12%	-89%	-23%	1%
Interest expense	1.5	1.3	1.3	1.2	1.7	1.9	2.2	2.5	2.7	2.6	3.0	3.1	3.4	3.3	3.5	4.0	4.1	3.9	3.9	3.6
Pre-tax income	6.0	-20.0	-26.3	-13.8	-14.8	-17.2	-33.4	0.8	-3.4	-15.7	-9.1	-12.6	-19.4	-12.8	-41.2	-15.3	-0.8	-29.7	-20.8	18.5
Tax rate	0%	n/a	n/a	n/a	n/a	n/a	n/a	17%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0%
Net income	5.4	-20.0	-26.3	-13.1	-14.9	-17.3	-33.4	0.7	-3.8	-15.8	-9.4	-12.6	-19.4	-12.8	-41.2	-15.3	-0.9	-29.7	-20.8	18.5
Net margin	47%	-144%	-174%	-77%	-76%	-94%	-173%	3%	-11%	-65%	-38%	-56%	-64%	-43%	-186%	-78%	-2%	-143%	-63%	43%
Diluted EPS	n/a	-$1.36	-$1.76	-$0.88	-$1.04	-$1.12	-$1.92	$0.00	n/a	-$0.88	-$0.48	-$0.66	-$1.01	-$0.42	-$1.27	-$0.44	-$0.02	-$0.82	-$0.54	$0.10
Operating cash flow	-15.1	-12.7	-15.1	-11.6	-5.0	-16.6	1.0	-0.2	-1.6	-3.8	-1.8	1.0	-1.8	27.2	-7.3	-39.0	-9.3	-2.4	-3.5	3.6
Capital expenditure	0.7	1.9	3.4	3.6	2.8	2.9	5.6	3.9	3.0	3.3	3.3	5.7	3.4	4.5	3.6	3.9	4.3	3.9	3.4	3.5
Free cash flow	-15.9	-14.6	-18.5	-15.3	-7.8	-19.5	-4.6	-4.0	-4.6	-7.1	-5.1	-4.7	-5.2	22.8	-10.9	-42.8	-13.6	-6.2	-6.9	0.1
Shares outstanding	14m	15m	15m	15m	15m	17m	17m	18m	18m	18m	18m	30m	31m	31m	35m	36m	36m	37m	41m	41m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.