Planet Labs PBC · Q3 2021 earnings

Briefing

Planet Labs reported third quarter of fiscal year 2022 financial results, delivering record third quarter revenue and reaffirming full year revenue outlook.

Planet Labs reported a 16% year-over-year increase in revenue to $31.7 million for the third quarter of fiscal year 2022. The company's customer count increased by 32% year-over-year, and it is fully capitalized following the receipt of over $590 million in gross proceeds from its NYSE debut.

• Revenue increased 16% year-over-year to $31.7 million.
• Recurring Annual Contract Value (ACV) was 94%, compared to 93% in the third quarter of fiscal year 2021.
• End of Period (EoP) Customer Count increased 32% year-over-year to 742 customers.
• Gross Margin percentage expanded to 34%, compared to 27% in the third quarter of fiscal year 2021.

Headline financials

Revenue & EPS history

For the fourth quarter of fiscal 2022, Planet expects revenue to be in the range of approximately $35 million to $37 million and Non-GAAP Gross Margin percentage to be approximately 37% to 39%. Adjusted EBITDA loss is expected to be between approximately ($17) million and ($15) million and capex spend is expected to be between approximately $5 million and $7 million.