BlackSky Technology Widens Range, Now Sees FY23 Revenue Of $84M-$96M (Prior $90M-$96M) Vs. Consensus Of $91.62M; Says On Track To Accomplish Positive Adjusted EBITDA In Q4
Portfolio Pulse from Benzinga Newsdesk
BlackSky Technology has updated its FY23 revenue forecast to a range of $84M-$96M, compared to the previous range of $90M-$96M and consensus of $91.62M. The company remains on track to achieve positive Adjusted EBITDA in Q4 due to continued revenue growth, high incremental margins from imagery and analytic services, and responsible cost management. BlackSky is also closing a significant number of new contracts and working with several major customers on sizable contracts.
August 09, 2023 | 11:16 am
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BlackSky Technology has revised its FY23 revenue forecast, which may impact investor sentiment. The company's continued revenue growth and positive outlook for Q4 EBITDA could potentially drive the stock price up.
The revision of the FY23 revenue forecast by BlackSky Technology indicates the company's confidence in its growth trajectory. This, coupled with the positive outlook for Q4 EBITDA, could potentially boost investor sentiment and drive the stock price up in the short term.
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