Filing Flows › BlackSky Technology (BKSY) › Q4 2025
BlackSky Technology (BKSY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 17, 2026
BlackSky Technology (BKSY) reported revenue of $35.2M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +79% from the quarter before. Operating margin was -11.8%, net loss $868K (2.5% of revenue).
BlackSky Technology, Q4 2025: revenue $35.2M (+16% year over year), operating margin -11.8%, net loss $868K, operating cash flow −$9.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.2M | +79% | +16% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$868K | — | — |
| Operating cash flow | −$9.3M | — | — |
What changed
Revenue was $35.2M in Q4 2025, up 16% year over year and up 79% from the previous quarter.
Operating costs exceeded revenue by $4.2M, an operating margin of -11.8%. Total costs grew 8% against revenue growth of 16%. The fastest-growing cost line was SG&A (+13%). The quarter ended with a net loss of $868K, narrower than the previous quarter's $15.3M loss. Non-operating items added $3.3M, -391% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$9.3M. Non-cash charges added back $8.0M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $20.7M. Capital expenditures of $4.3M exceeded it, leaving free cash flow of −$13.6M.
Questions
What was BlackSky Technology's revenue in the fourth quarter 2025?
BlackSky Technology (BKSY) reported revenue of $35.2M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +79% from the quarter before.
Was BlackSky Technology profitable in the fourth quarter 2025?
Operating loss was $4.2M (-11.8% of revenue) and net loss $868K.