Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q2 2023 Earnings Presentation
27 slides from Planet Labs Pbc's earnings presentation, Sep 12, 2022
Slide 1: Fiscal 2Q'23 Update
FISCAL 2Q’23 UPDATE September 12, 2022 RED SEA • Saudi Arabia
Slide 2: Disclaimers: Forward-Looking Statements
Disclaimers Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limi
Slide 3: Disclaimers: Use of Non-GAAP Financial Measures
Disclaimers Use of Non-GAAP Financial Measures This presentation includes Non-GAAP Gross Profit, Non-GAAP Gross Margin, which is derived from Non-GAAP Gross Profit, and Adjusted EBITDA, which are non-GAAP performance measures that the Company uses to supplement its results presented in accordance wi
Slide 4: Using Space to Help Life on Earth
Planet’s Mission: Using Space to Help Life on Earth Our Public Benefit Corporation (PBC) Purpose: To accelerate humanity toward a more sustainable, secure, and prosperous world, by illuminating environmental and social change.
Slide 5: Planet is 'the Bloomberg Terminal' for Earth Data
EARNINGS UPDATE Planet is ‘the Bloomberg Terminal’ for Earth Data 5 © Copyright 2022 Planet Labs PBC All Rights Reserved 5
Slide 6: Planet is a One-to-Many Data Platform
EARNINGS UPDATE Planet is a One-to-Many Data Platform Daily, Global Most Frequent Largest One-to-Many Scanning Cadence EO2 Fleet Model → Revolutionary → Up to 10 revisits/day1 → In History → Uniquely Scalable Global Scale & Metrics ~200 ~2x 100% >30TB >800 3 Customers In Multiple Satellites in Orbit
Slide 7: Q2 Highlights
EARNINGS UPDATE Q2 Highlights YoY 59% Revenue Growth vs +26% YoY 1Q’23 ● Continued Revenue Growth Acceleration % Recurring ACV ● Large and Diversified Global Customer Base 93% EoP 2Q’23 ● Significant Gross Margin Expansion ● Strong Balance Sheet Non-GAAP 52% Gross Margin(1) ● Sizeable TAM with Strong
Slide 8: Recent Business Highlights
EARNINGS UPDATE Recent Business Highlights Pioneering Contract Customer Announcement Global Impact Countrywide German Organic Valley for NASA Harvest for Federal Government Access Pasture Farming Food Security Partnerships Announcement Customer Announcement NASA CSP for NOAA for Oil Spill and Tech D
Slide 9: Mission Critical Data for A Rapidly Changing Planet
EARNINGS UPDATE Mission Critical Data for A Rapidly Changing Planet Tracking Oil Tanker Movements Supporting Disaster Relief and Monitoring Carbon Credits in Response Indonesian Tropical Forests Forecasting Crop Yield Using Soil Completing Wildfire Damage Monitoring Wind Energy Moisture, Land Temp. a
Slide 10: Roraima, Brazil: illegal airstrips and mining
Indigenous Mining Pit Homes Indigenous Homes Planet satellite data was used to identify illegal airstrips being built in Brazil’s indigenous land. Following the construction of the airstrips, illegal mining operations started to develop nearby, encroaching on indigenous territories. Mining Pit Airst
Slide 11: Poyang Lake, Jiangxi, China
In this before and after comparison, PlanetScope imagery shows China’s largest freshwater lake shrunk by prolonged heat and drought. August 8, 2021 (left) and August 22, 2022 (right) POYANG LAKE • JIANGXI, CHINA
Slide 12: Saki Air Base, Crimea
“The New York Times reviewed satellite imagery of the Saki Air Base on Crimea’s western Black Sea coast, collected by Planet Labs hours before and a day after the explosions. The pictures show what appear to be three large craters and at least eight destroyed aircraft, both Su-24 and Su-30 warplanes
Slide 13: Zaporizhzhia Nuclear Plant
This Planet image shows fire and smoke near the Zaporizhzhia nuclear power plant in Enerhodar, Ukraine. The full series of intra-day images captured show a rare sequential glimpse of a fire growing toward the south of the plant, and smoke rising from an ash pit located in the northern section of the c
Slide 14: Flooding, Nowshera, Pakistan
A third of Pakistan was under water in August 2022, the result of relentless monsoon rains and glacial melt. This high-resolution SkySat image shows the town of Nowshera in northern Pakistan, flooded when heavy rain made the nearby river burst its banks. FLOODING • Nowshera, Pakistan • August 29, 202
Slide 15: Shining a Light on Ukraine
EARNINGS UPDATE Shining a Light on Ukraine August 26 August 18 August 11 UN agency to inspect Ukraine nuclear Ship that Ukraine alleges has stolen Crimea base blast deals a blow to plant in urgent mission wheat likely off Syria Russian war machine Planet continues to provide imagery to July 12 July
Slide 16: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix Q2’23 Revenue Q2’23 Revenue by Geography by Customer Type © Copyright 2022 Planet Labs PBC All Rights Reserved 16 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 17: Growth Acceleration
EARNINGS UPDATE Growth Acceleration LTM Quarterly Annual Revenue Key Growth Drivers - Scaling Commercial Organization to Tap into Growing Demand - Subscription Data and Analytic Solutions to Address Commercial Market Opportunity - Relentless Focus on Customer Success, Retention & Expansion - Expandi
Slide 18: Relentless Customer Focus
EARNINGS UPDATE Relentless Customer Focus Consistent Customer Growth 855 Customers EoP 2Q’23 93% EoP Customer Count Recurring ACV EoP 2Q’23 127% Net Dollar Retention Rate Including Winbacks EoP 2Q’23 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 19: How We Measure Net Dollar Retention Rate
EARNINGS UPDATE How We Measure Net Dollar Retention Rate NDRR + Winbacks NDRR 1 We define Net Dollar Retention 1 Rate (NDRR)2 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 exis
Slide 20: Non-GAAP Gross Margin Expansion with Scale
EARNINGS UPDATE Non-GAAP Gross Margin Expansion with Scale1 Key Expansion Drivers - Strong Top line Growth - Scalable Data Subscription Model - Efficiency of Vertically-Integrated Agile Space Missions Model - Enterprise and Government Customer Success Note: Planet has a Fiscal Year (FY) ending Januar
Slide 21: Investing for Growth
Investing for Growth Sales & Software Next Gen M&A Marketing Engineering Data Sets To Accelerate Our Land & Expand Platform & Analytics To Meet Growing Roadmap Market Demand → 78% increase in → 55% YoY increase in → Next Generation → Acquisition of Global Commercial Software Headcount Pelican High R
Slide 22: Fiscal 3Q'23 and FY'23 Outlook
EARNINGS UPDATE Fiscal 3Q’23 and FY’23 Outlook 3Q’23 FY’23 Revenue $45M - $48M $182M - $190M YoY Revenue Growth % +42% - 51% +39% - 45% Non-GAAP Gross Margin %(1)(3) 47% - 49% 49% - 51% Adjusted EBITDA(2)(3) ($22M) - ($20M) ($68M) - ($60M) Capex as a % of Revenue 16% - 19% 13% - 15% ● Strong topline
Slide 23: Appendix
APPENDIX Great Barrier Reef, Australia – July 8, 2016
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin1 % Three Months Ended Year Ended October 31, January 31, April 30, October 31, January 31, April 30, July 31, January 31, January 31, July 31, 2021 2020 2021 2021 2021 2022 2022 2022 2021 2022 GAAP Gross Profit $ 7.4
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 expenses and amortization of acquired intangible assets classified as cost of revenue, and
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. It defines existing customers as customers with an active contract with the Company at the end of the reported period. For the purpose of this met
Slide 27: Media Credits
EARNINGS UPDATE Media Credits Slide 15: ● Associated Press, August 26, UN agency to inspect Ukraine nuclear plant in urgent mission ● The Washington Post, August 18, Ship that Ukraine alleges has stolen wheat likely off Syria ● Bloomberg, August 11, Crimea base blast deals a blow to Russian war mach