BlackSky recognized for excellence and innovation in delivering industry leading commercial real-time, space-based intelligence at mission speed and scale
BlackSky Technology Inc. (NYSE: BKSY) won the 2024 Novaspace Leading Earth Observation Business Award at World Space Business Week. BlackSky is recognized for excellence and innovation in Earth observation by delivering commercial real-time, space-based intelligence at mission speed and scale using high-cadence, rapid-revisit satellite imagery and AI-driven analytics.
"BlackSky is honored to receive the Novaspace 2024 Leading Earth Observation Business Award at the World Space Business Week," said Brian O'Toole, BlackSky CEO. "This recognition is only possible with the collective passion and commitment displayed every day by the entire BlackSky team as we lead the Earth observation industry into a new era of dynamic, real-time, low latency monitoring."
The annual WSBW awards recognize the most forward-thinking businesses and innovators shaping the future of the global space sector. A panel of industry experts evaluate qualitative and quantitative criteria to honor companies that distinguish themselves during the year that include innovation, strategic decisionmaking, market impact, and financial and commercial indicators.
This year, BlackSky made notable achievements in transforming the adoption model for commercial real-time, space-based intelligence and furthering the Earth observation industry's transition from static mapping to dynamic, AI-driven monitoring of critical areas of interest while expanding its product offering to revolutionize non-Earth imaging.
"Our software-first approach has made space more accessible for nations seeking sovereign, space-based intelligence capabilities and is reshaping how customers see and understand the most important security and economic events in our world," added O'Toole.
Through a first-of-its kind $50 million contract supporting the Indonesian Ministry of Defense, BlackSky is pioneering a new, software-first adoption model, offering customers immediate access to subscription-based Assured monitoring services over priority areas of interest with very little risk and without spending hundreds of millions on capability that will not materialize for years.
In January, BlackSky won a contract from the Intelligence Advanced Research Projects Activity (IARPA) to move forward into the third and final phase of the multi-year Space-based Machine Automated Recognition Technique (SMART) program. With the core technology developed under the SMART program, BlackSky's AI tools have detected and classified more than two million change observations with a high degree of accuracy over 120 thousand distinct sites after having analyzed five years of historic broad area satellite imagery from government and commercial sources.
The National Geospatial-Intelligence Agency (NGA) recently announced BlackSky was selected as a vendor under the five-year, $290 million Luno A multi-award indefinite delivery/indefinite quantity contract. The five-year deal focuses on monitoring economic and environmental activity and military capabilities using commercial geospatial intelligence and analytics services. BlackSky today monitors over more than 30 million square kilometers of the Earth's surface for the NGA.
Yesterday, BlackSky was awarded a seven-figure space domain awareness contract from HEO to bring automated low-latency capabilities to non-Earth imaging (NEI) services for defense, intelligence and commercial use. Under the agreement, the companies will partner to bring BlackSky's current constellation into HEO's NEI sensor network. The contract is now moving into its second phase with a focus on automating the entire tasking-to-delivery process, following a successful initial proof of concept phase.
About BlackSky
BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events in the world.
BlackSky designs, owns and operates one of the industry's leading low Earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it.
BlackSky's Spectra AI software platform processes data from BlackSky's constellation and from other third-party sensors to develop the critical insights and analytics that our customers require.
BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on X (formerly Twitter).
Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky's disclosure materials filed from time to time with the SEC which are available at the SEC's website at http://www.sec.gov or on BlackSky's Investor Relations website at https://ir.blacksky.com.
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Investor Contact
Aly Bonilla
VP, Investor Relations
abonilla@blacksky.com
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Sr. Director, External Communications
bksypr@blacksky.com
