Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q4 2025 Earnings Presentation
31 slides from Planet Labs Pbc's earnings presentation, Mar 20, 2025
Slide 1: Fiscal 4Q'25 Update
FISCAL 4Q’25 UPDATE March 20, 2025 PELICAN FIRST LIGHT • Laem Chabang, Thailand • March 12, 2025
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 press release 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, certain Non-GAAP Expenses, Non-GAAP Loss from Operations, Non-GAAP Net Loss per Diluted Share, Backlog and Adjusted EBITDA, which are non-GAAP measures Planet uses to supplement it
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 2025 Planet Labs PBC All Rights Reserved 4
Slide 5: The Planet Opportunity
EARNINGS UPDATE The Planet Opportunity UNIQUE DATA HIGHLY SCALABLE LARGE ADDRESSABLE BUSINESS MODEL MARKET Daily, Global Scanning One-to-Many Data Model Defense & Civil Agriculture Intelligence Government High Resolution Tasking New Addition Global Partner Network Natural Resource Insurance Energy M
Slide 6: Q4 at a Glance
EARNINGS UPDATE Q4 at a Glance Recent Highlights ● Signed $230m Contract with JSAT for Satellite Services ● Launched Pelican-2 Satellite and Published $61.6 M 65% $2.4M First Light Images ● Selected by National Geospatial-Intelligence Agency as a Vendor for Luno B IDIQ Record Revenue Record Non-GAAP
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights DEFENSE & INTELLIGENCE DEFENSE & INTELLIGENCE Civil Government $230 Million Win 7-Figure Prototype Award Contract Expansion JSAT satellite services contract U.S. Department of Defense Hellenic Space Center Defense Innovation Unit (Greece) COMMERCIAL CIVIL GOVERNME
Slide 8: Pelican-2 Satellite First Light
EARNINGS UPDATE PELICAN-2 SATELLITE FIRST LIGHT Planet shared First Light Imagery from its Pelican-2 satellite, which was successfully launched in January 2025. With this launch, Planet continues to build out its next generation high-resolution fleet. Planet has additional Pelican satellites schedule
Slide 9: Pelican First Light, Laem Chabang, Thailand
EARNINGS UPDATE PELICAN FIRST LIGHT • Laem Chabang, Thailand • March 12, 2025 ©© Copyright 2025 Copyright 202 Planet PlanetLabs LabsPBC PBC All AllRights Reserved 99 RightsReserved
Slide 10: Disaster Response: Palisades Fire
DISASTER RESPONSE January 2025 brought a series of devastating wildfires to the Los Angeles area. The Palisades and Eaton fires caused widespread destruction, resulting in at least 29 fatalities and over 18,000 structures destroyed or damaged. In total, an estimated 57,000 acres were consumed by the fl
Slide 11: Data from Three of Planet's Constellations
Data from Three of Planet’s Constellations © 2022 PLANET LABS PBC ALL RIGHTS RESERVED © Copyright 2025 Planet Labs PBC All Rights Reserved 11
Slide 12: North Korea Missile Base Disguised as Golf Course
EXPERTS SUSPECT THAT NORTH KOREA DISGUISES LONG-RANGE MISSILE BASE AS GOLF COURSE According to the Middlebury Institute of International Studies at Monterey, North Korea may be developing a secret launch base for long-range missiles on the outskirts of the capital Pyongyang, disguised as a golf cour
Slide 13: Tanager Short-Wave Infrared Data
TANAGER SHORT-WAVE INFRARED DATA This “false color” image from Planet’s Tanager-1 satellite is used to visually represent data not visible to the human eye. Short-Wave Infrared (SWIR) data has many potential use cases, including moisture detection and fire detection, among others, for industries rang
Slide 14: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights Jan 12 | What caused the Palisades Jan 29 | Planet lands $230 million Feb 13 | AI-powered initiative blaze? Visual evidence points to a contract for Pelican imagery HeritageWatch.AI to safeguard recent fire nearby satellites cultural heritage from crises Feb 13
Slide 15: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix FY25 Revenue FY25 Revenue by Geography by Sector 5% 23% 49% 48% 29% 29% 17% Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. Note: North America (“NAM”); Asia Pacific & Japan (“APJ”); Europe, Middle East, an
Slide 16: Driving Growth, Margin Expansion and Bottom Line
EARNINGS UPDATE Driving Growth, Margin Expansion and Bottom Line ($ in millions) Annual Revenue Non-GAAP Adjusted EBITDA1 Gross Margin1 GR $244 CA 21% $221 $191 60% 53% 54% -10.6 $131 38% -41.1 -55.3 -56.8 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 + Revenue growth driven by + Non-G
Slide 17: Strong Revenue and Backlog Growth
EARNINGS UPDATE Strong Revenue and Backlog Growth At the end of Fiscal Year 2025, estimated backlog was approximately $498.5 million dollars, up 115% quarter-over-quarter, providing a solid foundation for meaningful growth rate acceleration into FY’27. 97% Recurring ACV EoP 4Q’25 >90% Annual or Mult
Slide 18: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency Strong Non-GAAP Gross Achieved First Adjusted EBITDA1 Margin1 Expansion in FY’25 Profitable Quarter in 4Q’25 2 ($ in millions) 64% 65% (0.2) 58% (4) 55% (8) (10) (12) (14) (19) Q1’25 Q2’25 Q3’25 Q4’25 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 + Gros
Slide 19: Focus and Prioritization
EARNINGS UPDATE Focus and Prioritization Product + R&D Go-To-Market Financial + Bring Next Gen High + Focus Direct Sales Force + Drive strong and Res and Hyperspectral on Large Customers in predictable revenue Data to Market Core Growth Verticals growth + Drive Scale with + Leverage Global Partners
Slide 20: Fiscal 1Q'26 and FY'26 Outlook
EARNINGS UPDATE Fiscal 1Q’26 and FY’26 Outlook Key Drivers 1Q’26 FY’26 ● Large government sales opportunities Bringing new AI-enabled solutions to market Revenue $61M - $63M $260M - $280M ● ● Bringing next generation high resolution and hyperspectral data to market Non-GAAP Gross Scaling in the sate
Slide 21: Appendix
APPENDIX Snowfall at the Beach • Destin, Florida, USA • January 22, 2025
Slide 22: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Three Months Ended April 30, July 31, October 31, January 31, 2024 2024 2024 2025 GAAP Gross Profit $ 31.7 $ 32.3 $ 37.5 $ 38.2 (+) Stock-Based Compensation 0.8 0.9 0.7 0.9 (+) Amortization of Acquir
Slide 23: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Year Ended January 31, 2022 2023 2024 2025 GAAP Gross Profit $ 48.2 $ 94.0 $ 113.0 $ 139.7 (+) Stock-Based Compensation 2.3 5.1 3.6 3.5 (+) Amortization of Acquired Intangible – 1.6 2.4 3.0 Assets (+
Slide 24: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Three Months Ended April 30, 2023 July 31, 2023 October 31, 2023 January 31, 2024 April 30, 2024 July 31, 2024 October 31, 2024 January 31, 2025 Net Loss $ (34,444) $ (37,975) $ (38,004) $ (30,086) $ (29,2
Slide 25: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Year Ended January 31, 2022 2023 2024 2025 Net Loss $ (137,124) $ (161,966) $ (140,509) $ (123,196) (+) Interest expense 8,772 – – – (+) Interest Income (21) (7,672) (15,414) (10,257) (+) Income tax provis
Slide 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) January 31, 2023 January 31, 2024 January 31, 2025 Remaining performance obligations $ 151,976 $ 132,571 $ 407,538 Cancelable amount of contract value 127,667 109,821 90,920 Backlog $ 279,643 $ 242,392 $ 498,458 N
Slide 27: 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, restructuring costs, and employee transactio
Slide 28: Definitions
EARNINGS UPDATE Definitions Other Key Metrics ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates Annual Contract Value (“ACV”) for contracts of one year or greater as the total amount of value
Slide 29: 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 Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying use
Slide 30: 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 31: Media Credits
EARNINGS UPDATE Media Credits Slide 14: ● The Washington Post, January 12, What caused the Palisades blaze? Visual evidence points to a recent fire nearby. ● CNBC, January 29, Planet lands $230 million contract for Pelican imagery satellites ● Euronews, February 13, AI-powered initiative HeritageWatc