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By Prakhar Srivastava
April 10 (Reuters) – Space analytics company HawkEye 360 recorded a 74% jump in revenue in 2025 while also swinging to a profit, its filing for a U.S. initial public offering showed on Friday.
The Herndon, Virginia-based firm clocked a net income of $2.7 million on revenue of $117.7 million last year, compared with a $29 million loss on revenue of $67.6 million in 2024.
The filing comes as investor interest in space technology firms gains traction. Earlier this month, Elon Musk-owned SpaceX confidentially filed for a highly anticipated U.S. listing that could value it at a massive $1.75 trillion, potentially drawing significant investor demand to the sector.
“Recent listings in the sector have performed well, with SpaceX in particular acting as a catalyst and bringing more momentum to the theme,” IPOX Research Associate Lukas Muehlbauer said.
He added that a deal of that size could also divert attention from smaller issuers.
While HawkEye did not disclose the size of the offering, it said it intends to use the proceeds for working capital and debt repayment, among other general purposes.
Founded in 2015, the company is a signals intelligence data provider to defense, intelligence and national security agencies, using satellites to detect, locate and analyze radio frequency emissions worldwide.
HawkEye operates a constellation of more than 30 satellites, with the U.S. government and allied nations accounting for the bulk of its revenue.
The company appeared to be going public while the issuance window was open, driven in part by its need to repay debt related to its acquisition of Innovative Signal Analysis, Muehlbauer said.
HawkEye acquired ISA in December, expanding its capabilities in signal processing and classified intelligence systems and strengthening ties with U.S. agencies.
HawkEye plans to list on the New York Stock Exchange under the symbol “HAWK”, with Goldman Sachs, Morgan Stanley, RBC Capital Markets and Jefferies among the underwriters.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Maju Samuel and Jonathan Ananda and Leroy Leo)