HAWK: HAWK announces in-line 1Q26 results, will provide 2026 guide with its 2Q26 earnings release

研报英文原文证据摘录

HAWK: HAWK announces in-line 1Q26 results, will provide 2026 guide with its 2Q26 earnings release

EQUITY RESEARCH QUICK TAKE

RBC Capital Markets, LLC

Ken Herbert (Analyst)

Stephen Strackhouse (Vice President)

Kevin Liu (Senior Associate)

Sanika Merchant (Associate)

June 22, 2026

Hawkeye 360, Inc.

HAWK announces in-line 1Q26 results, will provide 2026 guide with its 2Q26 earnings

release

NYSE: HAWK | USD 22.90 | Outperform | Price Target USD 40.00

Sentiment: Neutral

HawkEye 360 (HAWK) announced 1Q26 earnings highlighting in-line results compared to our estimates. The company reported

revenue of $49.8M, which was 1% ahead of our estimate of $49.2M. Adj. EBITDA was also $7.4M (14.8% margins), also ahead of

our estimate of $7M with 14.2% margins. Within the company's S-1 filing, ahead of its May 7th IPO, the company had provided

preliminary 1Q26 results with revenue of $49.2M and adj. EBITDA of $7.4M at the respective midpoints. HAWK reported backlog

of $285M down (6%) sequentially from $303M at the end of the year. Management had also previously suggested that backlog

was ~$285M at the end of 1Q26, so we do not expect this to be a surprise to investors. We view today's results as directly in line

with previous company communication. With today's release, HAWK management will not be providing an earnings call and will

also initiate its 2026 guidance with the 2Q26 earnings release.

Recent contract awards a highlight for HAWK and a continued focus for investors. The company announced that it was recently

selected by the European Ministry of Defense for an EW program valued at up to $75M. As part of the program, HAWK will provide

a subscription to its air defense and GPS interference monitoring services to support European defense planning and regional

awareness.