HawkEye 360 (HAWK) investor relations material

Company overview and business model

• Provides commercial space-based signals intelligence (SIGINT) solutions for defense and intelligence applications, primarily serving U.S. and allied governments.

• Vertically integrated across satellite design, manufacturing, data collection, processing, analytics, and delivery.

• Operates a constellation of over 30 satellites, leveraging proprietary algorithms and AI/ML analytics for RF data exploitation.

• Recent acquisition of Innovative Signal Analysis, Inc. (ISA) enhances classified and unclassified signal processing capabilities.

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

Financial performance and metrics

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

• Net income of $2.7 million and adjusted EBITDA of $24.8 million for 2025; prior year net loss of $29.0 million and adjusted EBITDA loss of $6.3 million.

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

• Q1 2026 estimated revenue between $48.2–$50.2 million, with a net loss of $9.5–$11.9 million, reflecting growth investments and acquisition costs.

• Cash and cash equivalents of $92.7 million as of December 31, 2025; total assets of $489.9 million.

Use of proceeds and capital allocation

• Net proceeds of ~$363 million (or ~$419 million if underwriters' option exercised) expected from IPO at $25/share midpoint.

• $49.8 million allocated to repay outstanding borrowings under 2025 Loan and Mezzanine Loan Agreements.

• $7.5 million to fund deferred payment for ISA acquisition.

• Remaining proceeds for working capital and general corporate purposes.