BlackSky's shares surged 22.4% after the quarter, driven by robust contract awards and accelerated revenue visibility from its Gen-3 constellation and AI-enabled services, which significantly exceeded investor expectations.

• Secured up to $160 million in contract awards, fueling backlog growth and revenue acceleration.
• Gen-3 capabilities fully operational with four satellites, enabling 35-centimeter high-resolution imaging and rapid AI analytics integration.
• Projected Gen-3 revenue growth of over 50% for 2026, targeting a $100 million annual run rate and gross margins near 80%.
• Subscription-based contracts expanding with low churn, supporting predictable, high-margin recurring revenue and improved adjusted EBITDA outlook.
• Increasing U.S. government momentum on funding adds further visibility and potential upside for the remainder of the year.