Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q1 2025 Earnings Presentation
28 slides from Planet Labs Pbc's earnings presentation, Jun 6, 2024
Slide 1: Fiscal 1Q'25 Update
FISCAL 1Q’25 UPDATE June 6, 2024 TULIP FIELDS, HILLEGOM, THE NETHERLANDS April 10, 2024 • SkySat
Slide 2: Disclaimers
Disclaimers All references to “Planet” or the “Company” in this presentation are references to Planet Labs PBC (NYSE: PL). Forward-looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
Slide 3: Disclaimers
Disclaimers Use of Non-GAAP Financial Measures This presentation includes Non-GAAP Gross Profit, Non-GAAP Gross Margin and Adjusted EBITDA, which are non-GAAP measures Planet uses to supplement its results presented in accordance with U.S. GAAP. Planet includes these non-GAAP financial measures beca
Slide 4: Planet's Mission
EARNINGS UPDATE PLANET’S MISSION To image the whole world every day and make global change visible, accessible, and actionable. © Copyright 2024 Planet Labs PBC All Rights Reserved 4
Slide 5: The Planet Opportunity
EARNINGS UPDATE The Planet Opportunity UNIQUE DATA Daily, Global Scanning + High Resolution Tasking LARGE Agriculture Defense & Intelligence Civil Government Technology and Services ADDRESSABLE MARKET Natural Resource Energy Finance Insurance Management HIGHLY SCALABLE One-to-Many Model BUSINESS MOD
Slide 6: Q1 at a Glance
EARNINGS UPDATE Q1 at a Glance Recent Highlights ● National Reconnaissance Office $60.4 M 55% $(8.4)M EOCL Contract Renewal ● Successful Seven-figure Pilots with the US Department of Defense Record Revenue Non-GAAP Adjusted ● New Contract Signed for the UK EO in 1Q’25 Gross Margin(1) EBITDA(1) Data Hu
Slide 7: Recent Business Highlights
EARNINGS UPDATE Recent Business Highlights DEFENSE & INTELLIGENCE DEFENSE & INTELLIGENCE CIVIL GOVERNMENT EOCL Renewal 7-Figure Pilots New Customer National Reconnaissance Office US Department of Defense UK EO Data Hub with Earth-i CIVIL GOVERNMENT CIVIL GOVERNMENT UTILITIES New Customer New Customer
Slide 8: Planet Insights Platform Launched April
LAUNCHED APRIL 9 PLANET INSIGHTS PLATFORM “ Planet Insights Platform helped us quickly distribute data and insights across our agency by integrating seamlessly in our current software ecosystem." VALENTIN LOUIS Senior Earth Observation Specialist UK Rural Payments Agency © 2024 2023 PLANET PLANET LA
Slide 9: Tanager-1 Is Ready for Launch: Planet's First Hyperspectral Satellite
0 Tanager-1 Is Ready for Launch: Planet’s First Hyperspectral Satellite The spacecraft arrived at Vandenberg Space Force Base on the June 3rd in preparation for liftoff as early as July. Tanager-1 will be the first of a next-next generation hyperspectral fleet, which will expand Planet’s imaging capab
Slide 10: Mission-Critical Data for a Rapidly Changing Planet
EARNINGS UPDATE Mission-Critical Data for a Rapidly Changing Planet Planet supports impact and sustainability initiatives around the world... UMITRON Improves Food Security Eco-index Uses AI-based tools and Through Sustainable Aquaculture Planet Data for Biodiversity Restoration in New Zealand UK Ru
Slide 11: Maritime Domain Awareness: Ream Naval Base
MARITIME DOMAIN AWARENESS This image, captured on May 8, shows two Chinese corvettes docked at the Cambodian Ream Naval Base on the Gulf of Thailand. Planet’s high temporal data collection over strategically important ports and waterways has enabled novel approaches to Maritime Domain Awareness (MDA
Slide 12: Disaster Response: Mai Mahiu Debris Flow
DISASTER RESPONSE Planet data can help governments, NGOs and first responders understand where damage has occurred in the wake of a natural disaster. Shown here are before and after of a major debris flow that swept through Mai Mahiu in Kenya on April 29, 2024. As climate change accelerates, and peak
Slide 13: Sustainability and Conservation: Minkebe National Park
SUSTAINABILITY AND CONSERVATION The NICFI Satellite Data Program provides comprehensive access to Planet’s high-resolution satellite monitoring to help reduce and reverse tropical forest loss. This program has enabled successful forest monitoring and conservation across the world’s tropical forests.
Slide 14: Precision Agriculture
PRECISION AGRICULTURE Planet has improved its Crop Biomass Planetary Variable. The latest version now includes input from Planet’s daily, global PlanetScope data in addition to Sentinel-1 cloud penetrating radar data and Sentinel-2 optical data. The output is an easy to ingest, consistent, daily tim
Slide 15: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights March 14 | Why the Battle for this $3.6 March 28 | Planet reveals $20 May 19 | The battlegrounds that could Billion Bridge is So Important to Putin million Carbon Mapper contract decide a US-China war over Taiwan April 15 | A Detailed Map Shows How April 26 |
Slide 16: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix 1Q’25 Revenue 1Q’25 Revenue by Geography by Vertical Market 5% 54% 22% 48% 23% 18% 30% Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. © Copyright 2024 Planet Labs PBC All Rights Reserved 16 Note: North Am
Slide 17: Strong Revenue Growth
EARNINGS UPDATE Strong Revenue Growth Q1 Revenue YoY ($ in millions) Annual Revenue ($ in millions) +15% YoY Growth +15% YoY 221 191 131 113 96 1Q ‘23 1Q ‘24 1Q ‘25 FY20 FY21 FY22 FY23 FY24 © Copyright 2024 Planet Labs PBC All Rights Reserved 17 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 18: Growing Customer Base
EARNINGS UPDATE Growing Customer Base 1,031 EoP Customer Count1 EoP 1Q’25 95% EoP Customer Count Recurring ACV EoP 1Q’25 >90% Annual or Multi-Year Contracts2 EoP 1Q’25 1Q’22 2Q’22 3Q’22 4Q’22 1Q’23 2Q’23 3Q’23 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 19: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency Non-GAAP Gross Margin1 Adjusted EBITDA1 ($ in millions) 56% 58% 55% 52% 52% (8) (10) (12) (14) (19) 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 + Acquiring New Customers and Expanding + 4th Sequential Quarter of QoQ Improvement in Custome
Slide 20: Focus and Prioritization
EARNINGS UPDATE Focus and Prioritization Product + R&D Go-To-Market Financial + Bring Next Generation + Direct Sales Focus on + Drive durable and High Res Data to Large Customers in Core efficient annual Market Growth Verticals revenue growth + Scale the Earth + Leverage Partners + Achieve Adjusted D
Slide 21: Fiscal 2Q'25 Outlook and FY'25 Drivers
EARNINGS UPDATE Fiscal 2Q’25 Outlook and FY’25 Drivers FY’25 Drivers 2Q’25 ● Large government opportunities Seven-figure pilot programs converting Revenue $59M - $63M ● to large operational contracts ● Partner solutions contribution to YoY Revenue Growth % +10% - 17% revenue mix ● Cost management & s
Slide 22: Appendix
APPENDIX Great Barrier Reef, Australia – July 8, 2016
Slide 23: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin1 % Three Months Ended April 30, July 31, October 31, January 31, April 30, 2023 2023 2023 2024 2024 GAAP Gross Profit $ 28.2 $ 26.3 $ 26.0 $ 32.5 $ 31.7 (+) Stock-Based Compensation 0.9 1.1 0.9 0.8 0.8
Slide 24: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA1 Three Months Ended April 30, 2023 July 31, 2023 October 31, 2023 January 31, 2024 April 30, 2024 Net Loss $ (34,444) $ (37,975) $ (38,004) $ (30,086) $ (29,293) (+) Interest Income (4,506) (3,802) (3,445)
Slide 25: Definitions
EARNINGS UPDATE Definitions Non-GAAP Financial Measures Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP Gross Profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets classified as cost of revenue, restructuring c
Slide 26: Definitions
EARNINGS UPDATE Definitions EoP Customer Count: The Company defines EoP Customer Count as the total count of all existing customers at the end of the period excluding customers that are exclusively Sentinel Hub self-service paying users. For EoP Customer Count, the Company defines existing customers as
Slide 27: Definitions
EARNINGS UPDATE Definitions Net Dollar Retention Rate: The Company defines Net Dollar Retention Rate as the percentage of ACV generated by existing customers in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Compan
Slide 28: Media Credits
EARNINGS UPDATE Media Credits Slide 15: ● The Wall Street Journal, March 14, Why the Battle for This $3.6 Billion Bridge Is So Important to Putin ● SpaceNews, March 28, Planet reveals $20 million Carbon Mapper contract ● Bloomberg, April 15, Maps: How Israel-Hamas War Has Reshaped Rafah in Gaza ● Ax