Planet Labs Pbc ( (PL) ) has released its Q3 earnings. Here is a breakdown of the information Planet Labs Pbc presented to its investors.
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Planet Labs PBC is a leading provider of global, daily satellite imagery and geospatial solutions, recognized for its mission to image the world every day and deliver actionable insights across various sectors, including agriculture, forestry, and intelligence. In its latest earnings report, Planet Labs PBC announced an 11% year-over-year revenue increase for the third quarter of fiscal year 2025, reaching a record $61.3 million. The company also achieved a record GAAP gross margin of 61% and a non-GAAP gross margin of 64%, while reducing its net loss significantly compared to the previous year.
Key financial highlights include a 97% recurring annual contract value and an increase in customer count to 1,015, marking a 4% growth compared to the previous year. Planet secured significant contracts with international defense customers, the US Department of Defense, and NASA, among others. These contracts highlight the growing demand for Planet’s satellite imagery and analytics solutions. Additionally, the company achieved technological milestones with the first light from its Tanager-1 hyperspectral satellite and the readiness of its Pelican-2 satellite for launch.
Planet’s strategic advancements are further reflected in its innovative product offerings, such as the AI-powered Forest Carbon Monitoring product and the Analysis-Ready PlanetScope. The company also launched Project Centinela to support biodiversity monitoring. With a strong cash position of $242 million and no debt, Planet is on track to achieve adjusted EBITDA profitability in the next quarter.
Looking ahead, Planet Labs expects fourth-quarter revenue to range between $61 million and $63 million, with non-GAAP gross margins projected between 63% and 65%. The company’s leadership expresses confidence in continued growth, driven by expanding customer relationships and cutting-edge technological advancements in satellite imagery and data solutions.
