15. Related Party Transactions A summary of the Company’s related party transactions during the six months ended June 30, 2026 and 2025 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amount Due to Related Party as of | | | | Total Payments in the Six Months Ended June 30, | | June 30, | | December 31, | | Nature of Relationship | | 2026 | | 2025 | | 2026 | | 2025 | Name | Description of the Transactions | (in thousands) | Ursa Space Systems | Strategic Partner | The Chairman of the Company’s board of directors, Will Porteous, is also an investor and member of the board of directors of Ursa Space Systems. The Company has a non-cancelable operational commitment with Ursa Space Systems. | $ | 208 | | | 250 | | | $ | 223 | | | $ | — | | Thales Alenia Space | Shareholder and Parent of Wholly-owned Subsidiary, Seahawk | Design, development and manufacture of telescopes. | 7,497 | | | 554 | | | — | | | — | | Seahawk | Subsidiary of Thales Alenia Space | In 2019, the Company raised and converted $18.4 million from prior debt into new, outstanding debt and issued 13.5 million warrants to purchase Legacy BlackSky common stock. In July 2025, the Company repaid all debt outstanding and accrued interest to Seahawk. | — | | | 303 | | | — | | | — | | Intelsat Jackson Holdings, S.A. ("Intelsat"), which is now part of SES | Former debt Issuer | In 2019, the Company entered into a term loan facility for $50.0 million and issued 20.2 million warrants to Intelsat to purchase Legacy BlackSky common stock. In July 2025, the Company repaid all debt outstanding and accrued interest to Intelsat. | N/A | | 1,040 | | | N/A | | N/A |
The Company recorded revenue from related parties of $10.8 million for the six months ended June 30, 2025. The amount of revenue from related parties for the three and six months ended June 30, 2026 and the three months ended June 30, 2025 was not significant. As of June 30, 2026 the amount of contract assets from related parties was not significant while as of December 31, 2025, the Company had $3.9 million, of contract assets from related parties. As of June 30, 2026, the amounts invoiced by the Company and due from related parties were not significant. As of December 31, 2025, the amounts invoiced by the Company and due from related parties were $9.6 million.
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