10Qhttps://ir.blacksky.com/sec-filings/all-sec-filings/content/0001753539-25-000094/bksy-20250630.htm
Ventas "planas" xq lo que baja en el Q2 se compensa con lo que sube en el H1.Ventas x geografía
Ventas x tipo de Cliente
Ventas esperadas fin de ejercicio en curso, año que viene, y siguientes etc. en función de los compromisos adquiridos. BacklogBacklog represents the future sales the Company expects to recognize on firm orders it receives and is equivalent to the Company’s remaining performance obligations at the end of each period. It comprises both funded backlog (firm orders for which funding is authorized and appropriated) and unfunded backlog. The Company's backlog excludes unexercised contract options. As of June 30, 2025, the Company had $356.3 million of backlog, which represents the transaction price of executed contracts less inception to date revenue recognized. The Company expects to recognize revenue relating to its backlog, of which a portion is recorded in deferred revenue in the unaudited condensed consolidated balance sheets, of $45.7 million, $64.9 million, and $245.7 million in the six months ended December 31, 2025, fiscal year 2026, and thereafter, respectively. Hay un "cargo" x derivados (un "ajuste contable" ó "unrealized gain or loss") que en esta ocasión ha hecho un "roto" de 24'35 M (cuando hace 1 año le genero un "abono" x 5'27 M. Al pie detalle del mismo). Sin ese cargo la perdidas hubiesen sido de 16´8 M. (Loss) gain on derivativesFluctuations in our equity warrants and other equity instruments that we classify as derivative liabilities in the unaudited condensed consolidated balance sheets and measure at fair value are significantly driven by our common stock price. Fluctuations to these instruments are inversely related to changes in our common stock price, the volatility of the markets, and the duration of the equity warrants. The gains or losses recognized in the period are non-cash fair value adjustments. These instruments generated a loss during the three and six months ended June 30, 2025 versus a gain during the three and six months ended June 30, 2024. En cuanto al Activo No Corriente:
Investing activitiesThe change in net cash used in investing activities was primarily due to increased purchases of short-term investments in government securities of $57.0 million during the six months ended June 30, 2025 compared to $13.5 million of purchases during the six months ended June 30, 2024.We continue to have significant cash outflows for satellite procurement and launch related services and incur labor costs for internally developed capitalized software as we add innovative new services and tools to our BlackSky Spectra software platform and our corporate business and operational systems. The total amount paid for capital expenditures decreased during the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The decrease resulted from payments to LeoStella as a third party in 2024 as compared to the internal operation costs with LeoStella consolidated as a wholly-owned subsidiary in 2025. We expect for cash outflows for satellite production to increase as we continue to build out our Gen-3 constellation Por otro lado, en cuanto a la deuda, indican: In November 2024, we acquired the remaining 50% of common units of LeoStella LLC (“LeoStella”) and LeoStella became a wholly-owned subsidiary of BlackSky. The acquisition allows us to improve control over the Gen-3 satellite supply chain and production operations. This vertical integration enables us to control our satellites through the entire design, manufacturing, and operation process and optimize performance per unit cost. LeoStella's financial results have been included in our operating results for the period following the acquisition date.In July 2025, we issued $185.0 million principal amount of Convertible Notes due August 1, 2033 (the “Convertible Notes”) in a private offering. In addition, we repaid all principal and accrued interest from the loans from related parties and the commercial bank line. See "—Liquidity" and Note 9 for further detail.En resumen: la reciente emisión de bonos convertibles les permite centrarse en su supervivencia económica: reducir costes, aumentar ventas como mínimo en un 50%, añadir valor a sus productos y/o desarrollar nuevos productos.Capitaliza 600 M, con un activo ligeramente x encima de 350 M, x lo que ya está en precio, y con cash en caja para rato, centrada en lo relevante.Salud
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