BlackSky owns a constellation of satellites that produce near real-time high-resolution imagery. Yesterday they successfully put the first of Gen-3 satellites into orbit with the help of Rocket Lab.
[https://www.rocketlabusa.com/updates/rocket-lab-successfully-launches-60th-electron-first-of-multiple-missions-for-blacksky/](https://www.rocketlabusa.com/updates/rocket-lab-successfully-launches-60th-electron-first-of-multiple-missions-for-blacksky/)
The Gen-3 boasts an impressive step up vs Gen-2. Including:
\- 30 min delivery
\- 35 cm resolution
\- performant in low light
https://preview.redd.it/zv45212lteke1.png?width=1256&format=png&auto=webp&s=72c588781a689debbdda90cade1d25f740b7298a
What impresses me about the company is that have an absolutely ridiculous cadence of contracts announcements. We are talking new contracts week after week after week.
https://preview.redd.it/srlxn6g8weke1.png?width=626&format=png&auto=webp&s=396635b4408c866ab77a3571771e993c9db90b14
This has resulted produced a smooth as butter compounding machine that has recently inflected to positive ebidtda.
https://preview.redd.it/49f0wdblweke1.png?width=580&format=png&auto=webp&s=6bba22e008adc454b1a6bc6f9731ede73b71897b
As far as valuation goes, it stacks of pretty damn nice. For example, far better grow and lower ev / sales multiple compared to it's closest peer PL.
https://preview.redd.it/o0wzghh2xeke1.png?width=424&format=png&auto=webp&s=aa27eef224ebe52a3ac67bfde8c6bf4e03384765
Back in the day they had a strategic partnership with PLTR. Not notably sure if it is still ongoing:
[https://www.blacksky.com/blacksky-secures-investment-from-palantir-and-enters-into-multi-year-strategic-partnership-following-successful-pilot-project/](https://www.blacksky.com/blacksky-secures-investment-from-palantir-and-enters-into-multi-year-strategic-partnership-following-successful-pilot-project/)
In sum, I think BKSY occupies a really interesting niche (high res, low latency imagery) that will likely be able to command really nice margins over time. And they have the benefit of a good liquidity and positive growth, so probably don't need to worry about being hammered by financing - as is the typical case with satellite companies - all that much.
I am rolling with a good slug of commons, and some calls for extra juice.
https://preview.redd.it/llssghcjxeke1.png?width=660&format=png&auto=webp&s=62ab5baedaff593425123cb81df6e6a7e161311b
https://preview.redd.it/sgxu3qrmxeke1.png?width=339&format=png&auto=webp&s=75a23bf587474d8ab210950f7d804fb998764bee
