HawkEye 360 Announces First Quarter 2026 Financial Results

 June 22, 2026

 HawkEye 360, Inc. announced its financial results for the quarter ended March 31, 2026.

"2026 is off to an exceptional start as we continue to scale HawkEye 360's global signals intelligence platform to meet rapidly escalating demand across domestic and allied international customers. Our first quarter results included record revenue, reflecting the strength of our business model, diligent financial management, expanding capabilities and increasing adoption of our space-based RF intelligence solutions worldwide particularly in areas of geopolitical tension where high quality signals intelligence is exceptionally valuable," said Chief Executive Officer John Serafini.

Mr. Serafini continued, "We are continuing to expand our international presence, highlighted by several international contract wins so far in 2026 totaling over $100 million. Additionally, we successfully launched 6 satellites across Clusters 13 and 14 - putting substantial new collection capacity and capabilities on orbit.  We also completed our initial public offering, providing substantial financial flexibility to support future growth. With a backlog of $285 million and strong demand globally, HawkEye 360 is well positioned to capitalize on the growing importance of RF intelligence and electronic warfare capabilities in today's evolving global security environment, while driving increasing profitability and long-term shareholder value."

First Quarter 2026 Financial Highlights:

Achieved record revenue of $49.8 million, up 116.5% compared to the prior-year period of $23.0 million

Achieved record international revenue of $20.9 million, up 156.8% compared to the prior-year period of $8.1 million

Recorded a net loss of $(9.0) million, compared to net loss of $(1.6) million in the prior year period

Realized record adjusted EBITDA, a non-GAAP metric, of $7.4 million, up 92.1% compared to the prior-year period of $3.8 million

Recognized net cash used in operating activities of $(3.2) million and free cash flow, a non-GAAP metric, of $(7.3) million, compared to $(7.5) million and $(10.7) million, respectively, in the prior year.

Confirmed backlog of $285.0 million at quarter end, compared to $302.7 million at 2025 year-end

Completed an initial public offering of 18.4 million shares of common stock, inclusive of the exercise in full of the underwriters' option to purchase 2.4 million additional shares, at a public offering price of $26.00 per share, generating net proceeds of $435.9 million

First Quarter 2026 & Recent Business Highlights:

Announced selection by a European Ministry of Defense for an electronic warfare program valued at up to $75 million, providing a subscription to HawkEye's Air Defense and GPS Interference Monitoring services to support sovereign defense planning and regional operational awareness

Launched and successfully established initial communications with the Company's Cluster 13 satellite trio aboard SpaceX's Falcon 9 Twilight rideshare mission, enhancing HawkEye 360's space-based signals intelligence capabilities with advanced RF detection, upgraded onboard processing and expanded waveform-collection capacity to support global defense and government missions

Launched and successfully established initial contact with the Company's Cluster 14 satellites aboard SpaceX's Transporter-16 mission, further expanding HawkEye 360's space-based signals intelligence constellation with enhanced onboard processing capabilities to support growing defense, maritime and national security customer missions worldwide

Announced over $100 million in new international contract awards in 2026

Entered into a new $125 million revolving credit facility maturing in May 2031, enhancing liquidity and financial flexibility to support continued investment in the Company's space-based RF data and analytics platform, constellation expansion, product innovation and broader strategic growth initiatives