Planet Labs PBC, a leading provider of daily data and insights about Earth, has been making significant strides in the industry. With awarded contracts from NASA, the US Department of Defense, and multiple international governments, the company is well-positioned for growth.

Transforming Earth Observation with Daily Data

International Contracts and Partnerships

Planet won an eight-figure expansion with an International Defense Customer during the third quarter, providing PlanetScope, Skysat, and other analytics. The US Department of Defense selected Planet for a seven-figure pilot, marking its third such program this year. Under the 3-month project, Planet will offer satellite imagery with analytics-powered insights. NASA announced Planet's selection for the NASA Commercial SmallSat Data Acquisition (CSDA) contract with a performance period through November 2028. Planet received an order valued at approximately $19.95 million. In Brazil, Planet renewed its seven-figure ACV contract with the Federal Police through its partner SCCON Geospatial. The German Space Agency signed a multi-year contract with Planet GmbH to provide data access and development support. Planet also signed a seven-figure multi-year deal with Laconic, a leader in climate finance.

New Technologies and Products

Planet's next Pelican satellite, Pelican-2, is ready for launch and will incorporate NVIDIA's Jetson platform. Tanager-1, the first hyperspectral satellite, achieved first light and began enabling methane and CO2 emissions data. Planet released its AI-powered Forest Carbon Monitoring product at 3-meter resolution. The Analysis-Ready PlanetScope (ARPS) product for time-series analysis and machine learning models was also launched.

Financial Highlights and Outlook

For the fourth quarter of fiscal year 2025, ending January 31, 2025, Planet expects revenue to be in the range of approximately $61 million to $63 million. Non-GAAP Gross Margin is expected to be in the range of approximately 63% to 65%. Adjusted EBITDA is expected to be in the range of approximately $0 to $2 million. Capital Expenditures are expected to be in the range of approximately $8 million to $11 million.

Impact and ESG

Planet launched Project Centinela to equip biodiversity scientists with satellite-derived tools. The company's financial results show growth in various areas, with significant improvement in margins and progress towards profitability.Planet's condensed consolidated balance sheets, statements of operations, and cash flows provide a detailed look at its financial health. Non-GAAP financial measures supplement the GAAP results, highlighting core operating performance and trends.Forward-looking statements in this release include expectations regarding future product development, performance, and strategies. Planet's results for the quarter ended October 31, 2024, are not indicative of future periods.For more information, visit www.planet.com and follow Planet on X (formerly Twitter) or tune in to HBO's 'Wild Wild Space'. Planet intends to announce material information through various channels to achieve broad distribution and comply with disclosure obligations.