Blacksky announced an existing international customer renewed a satellite imagery and analysis contract for $7 million. No data was given concerning:
- How long (months or year(s)) the contract is and how that length compares to the prior contract;
- Whether the $7 million contract value represents an increase (or decrease?) from the prior contract with the same customer; or
- How pricing for individual tasks within this contract changed compared to the prior contract iteration?
Almost no information of investor interest is contained in this press release. However, Blacksky having a customer who renewed rather than going to a competitor is clearly a positive for Blacksky. But it would be nice to know whether or not the customer renewed at the same or different price terms.
One more thing, a quote attributed to CEO Brian E. O’Toole claimed that Blacksky’s imagery and analytic products are delivering “unparalleled value” to customers. If this were true, one would expect competitor (Planet, Axel Space, Maxar, etc) customers to wise up and start migrating to Blacksky. Does anyone really believe Blacksky offers “unparalleled value”? Or is Blacksky resorting to hyperbole in its press releases?