Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related Party Transactions

12. Related Party Transactions

A summary of the Company’s related party transactions during the six months ended June 30, 2024 and 2023 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		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.	$	16,816	$	11,325	$	2,378	$	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.	292		250		—		42
Thales Alenia Space	Shareholder and Parent of Wholly-owned Subsidiary, Seahawk (Debt Issuer)	Design, development and manufacture of telescopes.	2,696		3,464		970		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.	277		—		23,900		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.	1,050		—		64,783		61,785

The Company recorded revenue from related parties of $1.5 million and $3.5 million for the three and six months ended June 30, 2024, respectively. The Company did not record revenue from related parties for the three and six months ended June 30, 2023. Accounts receivable from related parties was $0 as of June 30, 2024 and December 31, 2023.

Interest on the term loan facility is accrued and is due semi-annually. The Company made interest payments of $1.0 million during the three and six months ended June 30, 2024. The Company did not make any interest payments during the three and six months ended June 30, 2023. As of June 30, 2024, the Company had interest due to related parties of $1.8 million, of which $0.4 million is to be paid as cash interest on a semi-annual basis and was included in other current liabilities and $1.4 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.