Related Party Transactions

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

Related Party Transactions

12. Related Party Transactions

A summary of the Company’s related party transactions during the three months ended March 31, 2024 and 2023 is presented below:

							Amount Due to Related Party as of
			Total Payments in the Three Months Ended March 31,				March 31,		December 31,
	Nature of Relationship		2024		2023		2024		2023
Name		Description of the Transactions	(in thousands)
LeoStella	Joint Venture with Thales Alenia Space	The Company owns 50% of LeoStella, its joint venture with Thales. The Company contracts with LeoStella for the design, development and manufacture of satellites to operate its business.	$	11,893	$	5,519	$	164	$	10,843
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.	125		83		42		42
Thales Alenia Space	Shareholder and Parent of Wholly-owned Subsidiary, Seahawk (Debt Issuer)	Design, development and manufacture of telescopes.	750		3,464		—		750
Seahawk	Debt Issuer and 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.	—		—		22,793		22,793
Intelsat	Debt Issuer	In 2019, the Company entered into a term loan facility for $50.0 million and issued 20.2 million warrants to purchase Legacy BlackSky common stock.	—		—		61,785		61,785

The Company recorded revenue from related parties of $2.0 million and $0 for the three months ended March 31, 2024 and 2023, respectively. Accounts receivable from related parties was $0 as of March 31, 2024 and December 31, 2023.

Interest on the term loan facility is accrued and is due semi-annually. The Company did not make any interest payments during the three months ended March 31, 2024 or 2023. As of March 31, 2024, the Company had interest due to related parties of $4.3 million, of which $0.9 million is to be paid as cash interest on a semi-annual basis and was included in other current liabilities and $3.4 million is paid in kind as principal due on the maturity date and was included in other liabilities. As of December 31, 2023, the Company had interest due to related parties of $1.7 million, of which $0.3 million was included in other current liabilities and $1.4 million was included in other liabilities.