Why BlackSky Technology Stock Rocketed 15% Higher Today
BlackSky Technology (NYSE: BKSY) stock has gained 42% over the past 52 weeks -- and its run is not yet done.On Tuesday, the Earth observation satellite operator posted a 15% gain through 3 p.m. ET, after announcing a "six-figure contract ... to provide immediate, subscription-based on-demand Gen-2 imagery and analytics services" to an international customer. How big is a "six-figure" contract? Big enough that I wouldn't mind winning one, to be sure. But for a space stock like BlackSky, it's probably insignificant. Six figures means the contract could be worth as little as $100,000 annually, and it must be less than $1 million. That's less than 1% of the company's $107 million in trailing-12-month revenue, maybe as little as 0.1%, and potentially even less. After all, BlackSky didn't say whether the "six figures" will be paid annually or over a term of years.Continue reading
BlackSky Technology (NYSE: BKSY) stock has gained 42% over the past 52 weeks -- and its run is not yet done.
On Tuesday, the Earth observation satellite operator posted a 15% gain through 3 p.m. ET, after announcing a "six-figure contract ... to provide immediate, subscription-based on-demand Gen-2 imagery and analytics services" to an international customer.
How big is a "six-figure" contract? Big enough that I wouldn't mind winning one, to be sure. But for a space stock like BlackSky, it's probably insignificant. Six figures means the contract could be worth as little as $100,000 annually, and it must be less than $1 million. That's less than 1% of the company's $107 million in trailing-12-month revenue, maybe as little as 0.1%, and potentially even less. After all, BlackSky didn't say whether the "six figures" will be paid annually or over a term of years.
