HawkEye 360 Announces Second Quarter 2026 Financial Results
HawkEye 360 (NYSE: HAWK) reported Q2 2026 revenue of $49.8 million, up 87% year over year from $26.6 million, with record international revenue of $21.0 million. The company posted a net loss of $15.3 million. Backlog was $292.2 million as of June 30, 2026, after closing an IPO in May 2026 raising $437.5 million net proceeds.
How this was made
The 30-second read
Why it matters
Q2 results include strong top-line growth, record international revenue, a confirmed $292.2M backlog, and multiple program/contract updates, alongside FY 2026 revenue and Adjusted EBITDA guidance. Liquidity was strengthened via a new $125M revolving credit facility.
Market read
Traders can update near-term expectations using the Q2 revenue and backlog datapoints plus the FY 2026 revenue and Adjusted EBITDA range, while monitoring GAAP loss and EBITDA trend.
What to watch
Backlog rose only modestly sequentially ($285.0M to $292.2M), so traders may scrutinize whether the large revenue growth is translating into sustained profitability improvements.
Background
HawkEye 360 is a space-based signals intelligence and analytics provider serving defense, intelligence, and allied government customers.
Ticker impact
HawkEye 360 reported Q2 2026 revenue of $49.8M (+87% YoY), $292.2M backlog, and FY 2026 revenue guidance of $215M-$220M.
Likely positive near-term bias on guidance and backlog, with volatility risk tied to net loss and non-GAAP vs GAAP reconciliation.
Revenue growth, record international revenue, confirmed backlog, and a new $125M revolver are concrete positives. However, GAAP net loss and Adjusted EBITDA flat-to-down vs prior year can temper the reaction.
Market effects
Supports the defense space-based RF intelligence theme, potentially improving sentiment for adjacent signals intelligence and space-domain awareness vendors.
Highlights continued international (record) revenue growth, reinforcing demand outside the US defense budget cycle.
Signals ongoing geopolitical-driven demand for RF intelligence and electronic warfare capabilities, which can influence broader defense tech allocation.
Counterpoint
Despite strong revenue growth and backlog, GAAP net loss and Adjusted EBITDA softness vs the prior year could indicate margin pressure or timing of costs.
Key entities
- companyHawkEye 360, Inc.
Reported Q2 2026 financial results, backlog, contract awards, and provided full-year 2026 guidance.
- governmentIndian Navy (and regional partner nations)
Awarded a multi-year contract for space-based RF data and analytics to enhance maritime domain awareness.
- governmentU.S. Space Force Space Rapid Capabilities Office
Selected ISA for a SBIR Direct-to-Phase II award for a radar-warning sensor payload.
- governmentNASA Commercial Crew and Commercial Low Earth Orbit Development Programs
Awarded a contract to supply RFIQ data product for resilient, secure space-to-space communications research.
