BlackSky Technology Inc-A 2025年度报告

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December31, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 BLACKSKY TECHNOLOGY INC. Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large accelerated filer Non-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesNo☒ The aggregate market value of the registrant’s common stock held by non-affiliates as of June 30, 2025 was approximately $698,196,072. Shares of the registrant’sClass A common stock held by each executive officer and director and by each other person who may be deemed to be an affiliate of the registrant have been excludedfrom this computation. This calculation does not reflect a determination that certain persons are affiliates of the registrant for any other purpose. As of April 14, 2026, there were 37,109,026 shares of the registrant’s Class A common stock, at $0.0001 par value, outstanding. DOCUMENTS INCORPORATED BY REFERENCE None. EXPLANATORY NOTE BlackSky Technology Inc. (“we,” “us,” “our,” the “Company”) is filing this Amendment No. 1 on Form 10-K/A (“AmendmentNo. 1”) to amend ourAnnual Reporton Form 10-K for the fiscal year ended December 31, 2025 (the “Original Filing”), filed with theU.S. Securities and Exchange Commission (“SEC”), to include the information required by Items 10 through 14 of Part III of Form10-K. This information was previously omitted from the Original Filing in reliance on General Instruction G(3) to Form 10-K. Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 also contains newcertifications by our principal executive officer and principal financial officer as required by Section 302 of the Sarbanes-Oxley Act of2002. Accordingly, Item 15 of Part IV is amended to include the currently dated certifications as exhibits. Except as expressly noted in this Amendment No. 1, this Amendment No. 1 does not reflect events that may have occurredsubsequent to the filing date of the Original Filing or modify or otherwise update any other disclosures contained in the OriginalFiling, including, without limitation, the financial statements. Accordingly, this Amendment No. 1 should be read in conjunction withthe Original Filing. TABLE OF CONTENTS Part IIIItem 10.Directors, Executive Officers and Corporate Governance5Item 11.Executive Compensation13Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters26Item 13.Certain Relationships and Related Transactions, and Director Independence29Item 14.Principal Accountant Fees and Servi