Three satellite imaging companies are in line to receive billions of dollars from the National Reconnaissance Office over the next decade, thanks to a string of contracts announced today.
BlackSky, which got its start in Seattle and is now headquartered in Virginia, says its contract for Electro-Optical Commercial Layer imagery sets up a five-year base subscription with a starting value of $85.5 million, plus options to extend the contract to 10 years. If all options are exercised, total contract value would be $1.021 billion.
Colorado-based Maxar, which was the first to provide commercial satellite imagery to the NRO, would be paid $300 million per year for the first five years, plus options for $1.74 billion in the following five years. Total potential value would be $3.24 billion. California-based Planet didn’t disclose the value of its contract.
BlackSky’s stock nearly doubled in value today, ending the trading session at $2.33 per share. Maxar’s share price rose almost 18% to close at $28.86. Meanwhile, Planet’s stock was up 14%, finishing up at $5.73.
Frequently updated commercial imaging has proven its value to the U.S. intelligence community in crises such as the war in Ukraine. The NRO said today’s deals represent the agency’s largest-ever commercial imagery contract effort.