DigitalGlobe, Inc. (NYSE: DGI), a leading global provider of commercial high-resolution earth observation and advanced geospatial solutions, today reported financial results for the quarter ended June 30, 2016.

Second Quarter Financial Summary:

  • Revenue declined 1.4% to $175.5 million.
  • Net income increased by 52.5% to $12.2 million, or $0.17 per diluted share.
  • Net income margin improved 250 bps to 7.0%
  • Adjusted EBITDA increased 7.9% to $95.3 million.
  • Adjusted EBITDA margin improved 470 bps to 54.3%.
  • Net cash flows from operations decreased 4.2% to $91.0 million.
  • Free cash flow was $45.5 million.

Recent Highlights:

  • Announced that the National Geospatial-Intelligence Agency exercised the option for the 7th year of the EnhancedView SLA.
  • Signed a letter of intent with what is expected to become our twelfth DAF customer for multi-year access to WorldView-4 and the current constellation.
  • Executed multi-year agreements with ESRI and Uber to provide Global Basemap products.
  • Repurchased 882,808 shares of common stock for $15.9 million at an average price of $18.00 during the second quarter and repurchased 13,961,865 shares of common stock for $296.4 million since initiation of the program in July 2014.

“We are pleased that the execution of our strategy is delivering better than expected results,” said Jeffrey R. Tarr, DigitalGlobe CEO. “We are encouraged by the strong demand we are seeing for WorldView-4 and look forward to extending our industry lead with our upcoming launch.”

Revised 2016 Revenue and Adjusted EBITDA Outlook:

  • Revenue in a range of $680 million to $705 million.
  • Adjusted EBITDA in a range of $345 million to $365 million.
  • Capital expenditures of approximately $125 million.(1)

(1) Excludes capitalized interest

We have not provided a reconciliation of our Adjusted EBITDA outlook to forward-looking net income, the comparable U.S. GAAP financial measure, because it is difficult to reasonably provide a forward-looking estimate of the reconciling items between such non-U.S. GAAP forward-looking measure and the comparable forward-looking U.S. GAAP measure. Certain factors that are materially significant to our ability to estimate these items are out of our control and/or cannot be reasonably predicted. The nature of the assets under construction, timing of capital expenditures and uncertainty of timing of placing assets in service impact certain components of net income and our ability to reasonably predict net income. These items include income tax expense, interest expense and depreciation. Accordingly, a reconciliation to the comparable forward-looking U.S. GAAP measure is not available within a reasonable range of predictability.

Conference Call Information:

DigitalGlobe’s management will host a conference call today, July 28, 2016 at 5 p.m. ET to discuss its 2016 second quarter financial and operating results.

The conference call dial-in numbers are as follows:

U.S./Canada dial-in: (855) 212-2368

International dial-in: (315) 625-6886

Passcode: 48830064

A replay of the call will be available through August 28, 2016 at the following numbers:

U.S./Canada dial-in: (855) 859-2056

International dial-in: (404) 537-3406

Passcode: 48830064

DigitalGlobe will also sponsor a live and archived webcast of the conference call on the Investor Relations portion of its website. Click here to directly access the live webcast.

Supplemental earnings materials, including conference call slides, are available on the Investor Relations section of the company’s website at

About DigitalGlobe

DigitalGlobe is a leading global provider of high-resolution Earth-imagery products and services sourced from our own advanced satellite constellation and third-party providers. Our imagery solutions support a wide variety of users in defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals, and navigation technology. Each day users depend on us to better understand our changing planet in order to save lives, resources and time.