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Side-by-side financial comparison of BlackSky Technology Inc. (BKSY) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.

IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $35.2M, roughly 1.4× BlackSky Technology Inc.). BlackSky Technology Inc. runs the higher net margin — -2.5% vs -4.8%, a 2.3% gap on every dollar of revenue. On growth, BlackSky Technology Inc. posted the faster year-over-year revenue change (15.9% vs -47.3%). Over the past eight quarters, BlackSky Technology Inc.'s revenue compounded faster (20.5% CAGR vs -20.2%).

BlackSky Technology Inc. is a leading geospatial intelligence provider operating a constellation of high-revisit small Earth observation satellites. It delivers real-time satellite imagery, advanced data analytics, and dynamic monitoring solutions to government, defense, critical infrastructure, and commercial clients globally to support data-driven operational decision-making.

Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.

BKSY vs IRWD — Head-to-Head

Bigger by revenue
IRWD
IRWD
1.4× larger
IRWD
$47.7M
$35.2M
BKSY
Growing faster (revenue YoY)
BKSY
BKSY
+63.3% gap
BKSY
15.9%
-47.3%
IRWD
Higher net margin
BKSY
BKSY
2.3% more per $
BKSY
-2.5%
-4.8%
IRWD
Faster 2-yr revenue CAGR
BKSY
BKSY
Annualised
BKSY
20.5%
-20.2%
IRWD

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
BKSY
BKSY
IRWD
IRWD
Revenue
$35.2M
$47.7M
Net Profit
$-868.0K
$-2.3M
Gross Margin
Operating Margin
-11.8%
14.3%
Net Margin
-2.5%
-4.8%
Revenue YoY
15.9%
-47.3%
Net Profit YoY
95.5%
-200.9%
EPS (diluted)
$0.04
$0.01

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BKSY
BKSY
IRWD
IRWD
Q4 25
$35.2M
$47.7M
Q3 25
$19.6M
$122.1M
Q2 25
$22.2M
$85.2M
Q1 25
$29.5M
$41.1M
Q4 24
$30.4M
$90.5M
Q3 24
$22.5M
$91.6M
Q2 24
$24.9M
$94.4M
Q1 24
$24.2M
$74.9M
Net Profit
BKSY
BKSY
IRWD
IRWD
Q4 25
$-868.0K
$-2.3M
Q3 25
$-15.3M
$40.1M
Q2 25
$-41.2M
$23.6M
Q1 25
$-12.8M
$-37.4M
Q4 24
$-19.4M
$2.3M
Q3 24
$-12.6M
$3.6M
Q2 24
$-9.4M
$-860.0K
Q1 24
$-15.8M
$-4.2M
Operating Margin
BKSY
BKSY
IRWD
IRWD
Q4 25
-11.8%
14.3%
Q3 25
-85.8%
61.8%
Q2 25
-62.8%
53.2%
Q1 25
-40.5%
-70.7%
Q4 24
-20.0%
34.8%
Q3 24
-58.7%
28.0%
Q2 24
-47.0%
26.5%
Q1 24
-54.7%
14.7%
Net Margin
BKSY
BKSY
IRWD
IRWD
Q4 25
-2.5%
-4.8%
Q3 25
-78.2%
32.8%
Q2 25
-185.8%
27.7%
Q1 25
-43.4%
-90.9%
Q4 24
-63.9%
2.5%
Q3 24
-55.8%
4.0%
Q2 24
-37.7%
-0.9%
Q1 24
-65.2%
-5.6%
EPS (diluted)
BKSY
BKSY
IRWD
IRWD
Q4 25
$0.04
$0.01
Q3 25
$-0.44
$0.23
Q2 25
$-1.27
$0.14
Q1 25
$-0.42
$-0.23
Q4 24
$-0.61
$0.03
Q3 24
$-0.66
$0.02
Q2 24
$-0.52
$-0.01
Q1 24
$-0.88
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BKSY
BKSY
IRWD
IRWD
Cash + ST InvestmentsLiquidity on hand
$124.5M
$215.5M
Total DebtLower is stronger
$201.1M
Stockholders' EquityBook value
$94.9M
$-261.8M
Total Assets
$386.2M
$396.9M
Debt / EquityLower = less leverage
2.12×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BKSY
BKSY
IRWD
IRWD
Q4 25
$124.5M
$215.5M
Q3 25
$146.5M
$140.4M
Q2 25
$93.8M
$92.9M
Q1 25
$75.8M
$108.5M
Q4 24
$52.5M
$88.6M
Q3 24
$63.2M
$88.2M
Q2 24
$41.2M
$105.5M
Q1 24
$35.4M
$121.5M
Total Debt
BKSY
BKSY
IRWD
IRWD
Q4 25
$201.1M
Q3 25
$195.1M
$199.5M
Q2 25
$122.5M
$199.3M
Q1 25
$115.3M
$199.2M
Q4 24
$107.7M
$199.0M
Q3 24
$98.8M
$198.8M
Q2 24
$108.6M
$198.6M
Q1 24
$85.0M
$398.3M
Stockholders' Equity
BKSY
BKSY
IRWD
IRWD
Q4 25
$94.9M
$-261.8M
Q3 25
$91.1M
$-264.2M
Q2 25
$86.6M
$-308.2M
Q1 25
$88.8M
$-334.1M
Q4 24
$94.0M
$-301.3M
Q3 24
$110.3M
$-311.3M
Q2 24
$76.5M
$-321.7M
Q1 24
$81.7M
$-330.5M
Total Assets
BKSY
BKSY
IRWD
IRWD
Q4 25
$386.2M
$396.9M
Q3 25
$380.9M
$396.1M
Q2 25
$310.8M
$342.9M
Q1 25
$284.9M
$327.2M
Q4 24
$254.1M
$350.9M
Q3 24
$245.5M
$389.5M
Q2 24
$224.3M
$395.6M
Q1 24
$210.1M
$438.8M
Debt / Equity
BKSY
BKSY
IRWD
IRWD
Q4 25
2.12×
Q3 25
2.14×
Q2 25
1.41×
Q1 25
1.30×
Q4 24
1.15×
Q3 24
0.90×
Q2 24
1.42×
Q1 24
1.04×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BKSY
BKSY
IRWD
IRWD
Operating Cash FlowLast quarter
$-9.3M
$74.6M
Free Cash FlowOCF − Capex
$74.6M
FCF MarginFCF / Revenue
156.3%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$127.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BKSY
BKSY
IRWD
IRWD
Q4 25
$-9.3M
$74.6M
Q3 25
$-39.0M
$47.6M
Q2 25
$-7.3M
$-15.1M
Q1 25
$27.2M
$20.0M
Q4 24
$-1.8M
$15.2M
Q3 24
$1.0M
$9.9M
Q2 24
$-1.8M
$33.5M
Q1 24
$-3.8M
$45.0M
Free Cash Flow
BKSY
BKSY
IRWD
IRWD
Q4 25
$74.6M
Q3 25
$47.6M
Q2 25
$-15.1M
Q1 25
$19.9M
Q4 24
Q3 24
$9.9M
Q2 24
$33.4M
Q1 24
$44.9M
FCF Margin
BKSY
BKSY
IRWD
IRWD
Q4 25
156.3%
Q3 25
39.0%
Q2 25
-17.7%
Q1 25
48.4%
Q4 24
Q3 24
10.8%
Q2 24
35.4%
Q1 24
60.0%
Capex Intensity
BKSY
BKSY
IRWD
IRWD
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.0%
Q1 25
0.1%
Q4 24
0.0%
Q3 24
0.0%
Q2 24
0.1%
Q1 24
0.1%
Cash Conversion
BKSY
BKSY
IRWD
IRWD
Q4 25
Q3 25
1.19×
Q2 25
-0.64×
Q1 25
Q4 24
6.74×
Q3 24
2.71×
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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