HawkEye 360 (HAWK) investor relations material

Company overview and business model

• Provides end-to-end commercial signals intelligence (SIGINT) solutions, integrating satellite data collection, proprietary analytics, and AI/ML algorithms for defense and intelligence customers.

• Operates a constellation of over 30 satellites, delivering global RF data and analytics to U.S. and allied governments, with a focus on national security applications.

• Acquired Innovative Signal Analysis, Inc. (ISA) in December 2025, expanding classified and unclassified signal processing capabilities and strengthening U.S. government relationships.

• Business model emphasizes recurring revenue through customer-tasked collections, analytics subscriptions, and multi-customer data sales.

• Intends to become a public benefit corporation, balancing shareholder value with public safety and security objectives.

Financial performance and metrics

• Revenue grew from $30.5 million in 2022 to $117.7 million in 2025, with a CAGR of approximately 57%.

• Net income was $2.7 million and adjusted EBITDA was $24.8 million for the year ended December 31, 2025.

• Funded backlog reached $302.7 million as of December 31, 2025, supporting predictable future revenue.

• For the three months ended March 31, 2025, revenue was $23.0 million with a net loss of $1.6 million and adjusted EBITDA of $3.8 million.

• Capital expenditures as a percentage of revenue declined from 128% in 2022 to 35% in 2025.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used to repay $48.6 million in outstanding debt, including a $14.6 million senior term loan and a $34.0 million mezzanine loan.

• Up to $15.0 million of proceeds will be used for deferred payment related to the ISA acquisition.

• Remaining proceeds will support working capital and general corporate purposes.