$BKSY We hold: Positive EBITDA: The company achieved its second consecutive year of positive adjusted EBITDA in 2025, signaling that the business is no longer a "cash-burn" risk but an operationally sound asset. $345M backlog.
Liquidity Position: With over $225 million in total liquidity as of early 2026, BlackSky is well-capitalized but still small enough (market cap ~$964M) to be easily absorbed by a large strategic buyer like $LMT $PLTR $MAXR to name a few.
$SATL $PL $MAXR
🛰️ Satellogic
• Has launched more than 50 ÑuSat satellites into orbit as of late 2025/2026, forming a growing Earth‑observation constellation. 
• The fleet is designed to scale rapidly toward hundreds of satellites to support higher revisit rates and frequent global coverage. 
🛰️ Planet Labs
• Operates well over one hundred active satellites (roughly 145+ reported), making it one of the largest commercial Earth‑observation constellations currently. 
• Includes multiple subsystems (Flock/ SuperDove medium‑resolution and Pelican/Tanager high‑resolution) covering daily global surface updates.
🛰️ Maxar
• Maintains a small but highly capable constellation focusing on very high‑resolution data with the WorldView Legion program (about 6 satellites). 
• These satellites deliver premium imagery quality (sub‑30 cm), often used by defense and precision mapping customers.
$SATL Did some DD and who remembers $MAXR before it got bought out and went private?
https://www.satellitetoday.com/imagery-and-sensing/2024/12/11/new-partnership-allows-maxar-to-task-satellogic-satellites/?utm_source=chatgpt.com
https://satellogic.com/news/press-releases/maxar-intelligence-and-satellogic-announce-tasking-partnership-to-support-national-security-missions/?utm_source=chatgpt.com
$SLS Not to get too nostalgic here but you could say I was “recruited” here by none other than @cb5000calls many years ago.
The connection was $MAXR. Maxar was a company in distress. Its price in the gutter BUT I believed the value was multiples of the price. My calculated values relative to the prevailing price appeared absurd.
Maxar shares could have been bought under $5 at times & I believed they were easily worth $60 or more. How did it end? Maxar BO for $53. But it was a violent ride during Covid & the BO came when the shares were trading for low $20. PRICE vs. VALUE!
CB knew I would see the value here & of course I do. But biotech is a different animal & we have a binary event coming. But we’ve done our homework & made calculated investments. & hopefully practiced portfolio discipline.
This is clearly an asymmetrical risk/reward situation we hope reconciles our way.
Wishing everyone a Merry Christmas 🎄, holidays, & a Happy New Year! All the best for SLS & patients in 2026!
$SATL off we go. Remember the real rise happens after $3.50. Do look at the MCAP. Real gem here. Also compare cost to $MAXR and $PL . We have the cheapest offering with AI and High Res launches.
@brandonrr86 don’t forget about $MAXR , $BKSY , and ‘black box’ satellite services… Planet is only now scaling up to what competitors have had for a few years, though their recent investor day comments about AI overlays do have me wondering the same thing!
$SATL here’s a blueprint 1. Insiders buying from all management and board. Buying from existing insiders tether, Steve Mnuchin and cantor Fitzgerald
2. do a deal with any countries space agency and more importantly how about the us military or nasa
how about a spacex or starlink deal?
3. potential suitors and or collaborators $MAXR $PL $ASTS
4. Geospatial Technology is at the core of almost every software application in the near future, and with the latest advancements in AI, we are going see a major shift in the way we interpret, interact with, and do predictions with Geospatial data
5. Quantum communication is emerging as a revolutionary technology for secure data transmission. China plans to launch multiple satellites into low Earth orbit to demonstrate quantum communication and data encryption technology. This initiative aims to establish quantum signal relays, paving the wat for a national quantum communication network by 2030.
$SLS While we should be finding out about GPS phase 3 results at some point soon / anytime, the wild card in valuation will likely be SLS 009 given that it is not at the same point in development as GPS. Could be why the co. is “marketing” SLS009 more in here. $5 BILLION could be seriously low balling SLS 009…the attached post gives some perspective. So while recent price action is constructive don’t lose the forest for the trees. There is plenty more value here if we are correct. There is never anything wrong with taking profits but know you could be leaving a lot on the table. And I’ve learned that the hard way some times leaving life changing money on the table (selling too early). Having a handle on valuation has allowed me the staying power & patience to stay the course until I see that value realized. As an example, investors from the $MAXR days know this well. The ride to the $53 buyout was HORRIFIC (& through COVID) but ultimately hugely profitable & the highest price realized!
$SPIR $BKSY $PL $MAXR $RKLB Cash in hand low chance of dilution for $spir looking like a bargain v debt heavy high multiple competitors. DOD play incoming too. 🚀
