Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| BlackSky Technology Inc.BKSY · business equipment | |
|---|---|
| Grade |  A/Bon the A/B boundary of 497 graded peers; percentile 19.8, sampling error 2.2 points; lower is stronger |
| Rank | 99 of 497 |
| Profitability | Bpercentile 32.7 |
| Solvency | C/Dpercentile 62.0 |
| Growth and financing | A/Bpercentile 20.6 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $386.2M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: dilution |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Apr 16, 2026176 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $21.082026-10-08; market equity $862.7M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 17, 2026; the document on sec.gov.
Founded in 2014, BlackSky Technology Inc. (“BlackSky,” the “Company,” “we,” “us,” or “our”) is a space-based technology company that delivers real-time imagery, analytics and high-frequency monitoring of the world’s most critical and strategic locations, economic assets, and events. By taking a software-first technology approach, we are delivering real-time space-based intelligence at disruptive speed, scale and economics. BlackSky is trusted by many government and commercial organizations around the world, including U.S defense and intelligence agencies and international ministries of defense.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 32.7 | |||||||
| Gross profitability | not computable | 28.5% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | not computable | 10.9% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Accruals ratio | (13.1%) | [1,3-5] | (7.4%) | 32.7 | 621 | 2025-12-31 | |
| Gross margin stability, five years | not computable | 2.4 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 62.0 | |||||||
| Twelve-month failure probability | 0.10% | 0.05% | 72.0 | 101 | 2026-06-30 | ||
| Altman Z double-prime | (4.10) | [1,6-11] | 2.18 | 73.6 | 566 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.11x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | (3.14x) | [9,12] | 3.77x | 75.3 | 90 | 2025-12-31 | |
| Current ratio | 3.48x | [6-7] | 2.02x | 27.1 | 666 | 2025-12-31 | |
| Growth and financing, sleeve percentile 20.6 | |||||||
| Revenue growth, three-year compound | 17.7% | [2,13-15] | 6.4% | 21.6 | 538 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 17.2% | |||||
| four consecutive annual FCF observations are required; found 0 | |||||||
| Reinvestment rate | not computable | 14.3% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | 18.2% | [1,5,16-17] | 5.0% | 19.6 | 563 | 2025-12-31 | |
| Net share issuance, one year | not computable | 0.5% | |||||
| prior share count is 32 days earlier | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.251; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 94 | Paycom Software, Inc. (PAYC) Paycom Software, Inc. (PAYC) A/Bon the A/B boundary; percentile 18.8 NYSE · Services-Prepackaged Software market equity $10.4B; last close $230.33 Warnings: fortress balance sheet; 11 of 14 inputs | 18.8 | A/B | fortress balance sheet |
| 95 | Verisk Analytics, Inc. (VRSK) Verisk Analytics, Inc. (VRSK) A/Bon the A/B boundary; percentile 19.0 Nasdaq · Services-Computer Processing & Data Preparation market equity $23.0B; last close $175.51 No active warnings; 12 of 14 inputs | 19.0 | A/B | |
| 96 | Cadence Design Systems Inc. (CDNS) Cadence Design Systems Inc. (CDNS) A/Bon the A/B boundary; percentile 19.2 Nasdaq · Services-Prepackaged Software market equity $96.2B; last close $348.93 No active warnings; 8 of 14 inputs | 19.2 | A/B | |
| 97 | Qualys, Inc. (QLYS) Qualys, Inc. (QLYS) A/Bon the A/B boundary; percentile 19.4 Nasdaq · Services-Prepackaged Software market equity $6.7B; last close $193.71 No active warnings; 10 of 14 inputs | 19.4 | A/B | |
| 98 | Grid Dynamics Holdings, Inc. (GDYN) Grid Dynamics Holdings, Inc. (GDYN) A/Bon the A/B boundary; percentile 19.6 Nasdaq · Services-Prepackaged Software market equity $649.8M; last close $8.01 No active warnings; 9 of 14 inputs | 19.6 | A/B | |
| 99 | BlackSky Technology Inc. (BKSY) BlackSky Technology Inc. (BKSY) A/Bon the A/B boundary; percentile 19.8 NYSE · Radio & Tv Broadcasting & Communications Equipment market equity $866.0M; last close $21.08 No active warnings; 7 of 14 inputs | 19.8 | A/B | |
| 100 | Pegasystems Inc. (PEGA) Pegasystems Inc. (PEGA) A/Bon the A/B boundary; percentile 20.0 Nasdaq · Services-Computer Processing & Data Preparation market equity $5.8B; last close $35.52 No active warnings; 9 of 14 inputs | 20.0 | A/B | |
| 101 | Advanced Micro Devices Inc. (AMD) Advanced Micro Devices Inc. (AMD) A/Bon the A/B boundary; percentile 20.2 Nasdaq · Semiconductors & Related Devices market equity $1.0T; last close $620.83 Warnings: fortress balance sheet; 9 of 14 inputs | 20.2 | A/B | fortress balance sheet |
| 102 | UiPath, Inc. (PATH) UiPath, Inc. (PATH) A/Bon the A/B boundary; percentile 20.4 NYSE · Services-Prepackaged Software last close $13.25 No active warnings; 7 of 14 inputs | 20.4 | A/B | |
| 103 | Everpure, Inc. (P) Everpure, Inc. (P) A/Bon the A/B boundary; percentile 20.6 NYSE · Computer Storage Devices market equity $50.2B; last close $150.59 No active warnings; 10 of 14 inputs | 20.6 | A/B | |
| 104 | Novanta Inc. (NOVT) Novanta Inc. (NOVT) A/Bon the A/B boundary; percentile 20.9 Nasdaq · Miscellaneous Electrical Machinery, Equipment & Supplies last close $136.20 Warnings: fortress balance sheet; 9 of 14 inputs | 20.9 | A/B | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A | 10.8 | 2204 |
| sector peers, equal sleeves (the grade) | A/B | 19.8 | 497 |
| same exchange, equal sleeves | A | 6.0 | 984 |
| sector peers, equal inputs | C | 42.9 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 14.6% | 2.2% | 61 | hotter than 61 of 100 peers |
| Distance from 52-week high | (59.0%) | (30.0%) | 18 | closer to its high than 18 of 100 peers |
| EBIT to enterprise value | (4.5%) | 1.5% | 20 | pricier than 80 of 100 peers |
| Free cash flow yield | not computable | 2.7% | required accounting or market input is missing | |
| Book value to price | 0.24 | 0.23 | 52 | pricier than 48 of 100 peers |
| Sales to price | 0.12 | 0.30 | 25 | pricier than 75 of 100 peers |
| Composite equity issuance, five years | not computable | 3.9% | a share count from five years earlier is required | |
| Relative strength against the sector, log excess return | (0.15) | (0.26) | 61 | ahead of 61 of 100 peers |
Inputs: market equity $866.0M; EBIT -$46.9M; book equity $211.5M; sales $106.6M; debt $210.8M; cash $36.9M[18].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (27.6%) | ✗ fail[3,5] |
| Operating cash flow above zero | -$28.3M | ✗ fail[4] |
| Return on assets improved | (2.1 pts) | ✗ fail[3,5,16,19] |
| Operating cash flow exceeds net income | $41.9M | ✓ pass[3-4] |
| Long-term leverage fell | 16.1 pts | ✗ fail[1,5,16,20-21] |
| Current ratio improved | (62.4 pts) | ✗ fail[6-7,22-23] |
| No new shares issued | n/a[24-25] | |
| Gross margin improved | n/a | |
| Asset turnover improved | (3.6 pts) | ✗ fail[2,5,13,16] |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $386.2M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $106.6M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 3 | net income | us-gaap:NetIncomeLoss | -$70.3M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 4 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$28.3M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 5 | assets | us-gaap:Assets | $254.1M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 6 | current assets | us-gaap:AssetsCurrent | $206.8M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 7 | current liabilities | us-gaap:LiabilitiesCurrent | $59.5M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 8 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$726.4M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 9 | operating income | us-gaap:OperatingIncomeLoss | -$46.9M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $94.9M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 11 | liabilities | us-gaap:Liabilities | $291.4M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 12 | interest expense | us-gaap:InterestExpense | $14.9M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $102.1M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $94.5M | 2023-12-31 | 2025-03-20 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $65.3M | 2022-12-31 | 2024-03-20 | 10-K | filing · viewer · series |
| 16 | assets | us-gaap:Assets | $224.1M | 2023-12-31 | 2025-03-20 | 10-K | filing · viewer · series |
| 17 | assets | us-gaap:Assets | $234.1M | 2022-12-31 | 2024-03-20 | 10-K | filing · viewer · series |
| 18 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 40,924,846 | 2026-08-03 | 2026-08-06 | 10-Q | filing · viewer · series |
| 19 | net income | us-gaap:NetIncomeLoss | -$57.2M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 20 | long term debt | us-gaap:LongTermDebtNoncurrent | $193.2M | 2025-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 21 | long term debt | us-gaap:LongTermDebtNoncurrent | $105.7M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 22 | current assets | us-gaap:AssetsCurrent | $106.7M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 23 | current liabilities | us-gaap:LiabilitiesCurrent | $26.0M | 2024-12-31 | 2026-03-17 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 37,109,026 | 2026-04-14 | 2026-04-16 | 10-K/A | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 36,994,814 | 2026-03-13 | 2026-03-17 | 10-K | filing · viewer · series |
| 26 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $36.9M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.9M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.4M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$19.0M | 2025-09-30 | 2025-11-06 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $20.0M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 19.8 is 0.2 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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