Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Investor Day (September 2021)
85 slides from Planet Labs Pbc's investor day presentation, Sep 21, 2021
Slide 1: Analyst Day
Analyst Day OG September 202]
Slide 2: Disclaimers
Disclaimers About this Presentation This confidential presentation (this “Presentation”) relates to a proposed business combination (the “Business Combination”) between dMY Technology Group, Inc. IV (“dMY”) and Planet Labs, Inc. (the “Company”). The information contained herein does not purport to b
Slide 3: Agenda
Brief Q&A to be held after each session. Extended AGENDA Vision & Opportunity - Will Marshall, Co-Founder and CEO Q&A to be held at the end of the event. Agile Space Missions - Robbie Schingler, Co-Founder and Chief Strategy Officer Go-to-Market and Product - Kevin Weil, President of Product and Busi
Slide 4: Sponsor Introduction
Sponsor Introduction Niccolo de Masi, CEO of dMY IV GULF OF OMAN, IRAN • June 3, 2021
Slide 5: Vision & Opportunity
Vision & Opportunity Will Marshall, CEO & Co-founder MAILUU-SUU, Kyrgyzstan
Slide 6: Planet is a One-to-Many Data Platform
Vision & Opportunity Planet is a One-to-Many Data Platform Daily, Global Most Frequent Largest One-to-Many Scanning Cadence Fleet Model → Revolutionary → Up to 10 revisits/day1 → 10x competition → Uniquely Scalable Global Scale Business Metrics 200+ ~2x 100% $110M+ 90%+ 62% 2 3 FY2021A PlanetScope S
Slide 7: Planet is 'the Bloomberg Terminal' for Earth Data
Vision & Opportunity Planet is ‘the Bloomberg Terminal’ for Earth Data 7
Slide 8: Planet's Data is Mission Critical to Many Verticals
Vision & Opportunity Planet’s Data is Mission Critical to Many Verticals A field of crops A plane departs A paper company can shows early signs of infestation… from a location of interest… monitor their supply chain... and a farmer and a government and track deforestation, saves this season’s crop yi
Slide 9: Planet is at the Center of Two Multi-Trillion Dollar Global Economic Shifts
Vision & Opportunity Planet is at the Center of Two Multi-Trillion Dollar Global Economic Shifts $100 T $53 T Cumulative value Global ESG created by 20251 assets by 20252 DIGITAL SUSTAINABILITY TRANSFORMATION TRANSFORMATION Big Data & AI are unleashing a significant Planet can help countries measure
Slide 10: Highly Diversified Revenue Base
Vision & Opportunity Highly Diversified Revenue Base Revenue by Vertical FY2021A 14% Other 23% REVENUE Agriculture $113 MM 17% Mapping 24% 22% Civil Defense & Intelligence 10 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 11: Planet's Leadership Position
Vision & Opportunity Planet’s Leadership Position Daily, Global Scanning Largest Fleet Most Daily One-to-Many Model → Revolutionary → 10x competition Area Coverage → Uniquely Scalable → 100x competition DATA SCALE BUSINESS SCALE Compared to other earth observation SPACs Compared to other earth obser
Slide 12: Proven Innovator with Multiple Compounding Moats
Vision & Opportunity MOAT 3 Proven Innovator with Multiple Compounding Moats Platform and Analytics ✔ Cloud APIs & integrations ✔ Faster iteration ✔ AI & ML-ready ✔ More satellites ✔ Huge data archive for ✔ Easily add sensors ML training MOAT 2 Proprietary Big Data MOAT 1 ✔ Feedback from Customer us
Slide 13: Multiple Levers for Growth
Vision & Opportunity Multiple Levers for Growth Scale in Expand into Platform New Sensors Established New Vertical Ecosystem & Data Verticals Markets Proliferate APIs and Meet market demand Such as Agriculture, Such as Forestry, Energy, cultivate a robust apps with new proprietary Defense & Intellig
Slide 14: World Class Team
Vision & Opportunity World Class Team William Marshall Kevin Weil Ashley Fieglein Johnson Chief Executive Officer, President, Product and Chief Financial and Co-Founder Business Operating Officer Robbie Schingler Charlie Candy Amy Keating Chief Strategy Officer, Chief Revenue Officer Chief Legal Officer
Slide 15: Agile Space Missions
Agile Space Missions Robbie Schingler Co-Founder & Chief Strategy Officer
Slide 16: Planet is Years Ahead of the Competition
Agile Space Missions Planet is Years Ahead of the Competition A Scaled Next Generation Commercial Geospatial Data Company ML-Ready, Application Operational Harmonized Business Prototype Satellite Operational Ecosystem Satellite Constellation Data Satellite Image Other New Space EO Providers Today 20
Slide 17: Optimizing for Speed, Agility and Efficiency
Agile Space Missions Optimizing for Speed, Agility and Efficiency Automated Mission Control Agile Aerospace & Modular Architecture Agile Agile Space Space Missions Missions Launch & Ground Stations Just In Time Manufacturing 17
Slide 18: Planet Dove and SkySat Satellites
Planet Dove Satellite Planet SkySat Satellite £2 + Custom, targeted =< J " : monitoring SS | 7 4 + 50 centimeter resolution - a + RGB, NIR, and * Always-on, Pan bands broad-area monitoring + 3 meter resolution + RGB and NIR bands Skysats 1-15 ~982 Sun-Synchronous Orbit Planetscope Dove Fleet ~98° Su
Slide 19: Satellite Fleets Designed for Cost Advantage and Operational Efficiency
Agile Space Missions Satellite Fleets Designed for Cost Advantage and Operational Efficiency Doves (PlanetScope) Operating the Largest ~200 Commercial Constellation SATELLITES GSD5 CAPACITY >300 M km2/day of EO Satellites ~180 3.7 m 8 band SkySat SATELLITES GSD5 REVISITS 21 0.5 m 10x/day on 13 averag
Slide 20: Monitoring Global Emissions with Hyperspectral
Agile Space Missions Monitoring Global Emissions with Hyperspectral 20 Note: Approximately 90% of all methane emissions will be made visible from space, per JBL. Methane is 2 of the 400 Fidelity bands.
Slide 21: Monitoring Global Emissions with Hyperspectral
Agile Space Missions Monitoring Global Emissions with Hyperspectral Planet’s First Non-Optical Sensor Frontier, Groundbreaking Technology Insights, Solutions Applications 400 Spectral Bands with Detection of a large methane plume Diversity of Commercial Applications due to gas compressor blowout Enh
Slide 22: Go-to-Market & Product
Go-to-Market & Product Kevin Weil President of Product & Business SPACEPORT AMERICA • New Mexico
Slide 23: Visible, Accessible, and Actionable
GTM & Product Our Mission To image the whole world every day, making change Visible, Accessible, and Actionable A local fisherman looks at @planet satellite imagery of his reef in Papua New Guinea. 23
Slide 24: Visible
GTM & Product Visible Planet operates 10x the satellites of any competitor Agile aerospace means progress compounds more rapidly We have a multi-year lead and are accelerating 24
Slide 25: Platform Data Accessibility & TAM
GTM & Product Accessible Planet is building a platform on top of our proprietary data, for partners and customers INDICATORS Platform Data Accessibility & TAM Each step makes the data INSIGHTS easier to use, shortens time to value, and increases addressable market opportunity PLANETARY VARIABLES Tod
Slide 26: Platform Data Accessibility & TAM
GTM & Product Accessible Planet is building a platform on top of our proprietary data, for partners and customers GDP Carbon Commodity UN Insurance Water Population INDICATORS Estimates Sequestration Prices SDGs Risk Availability Platform Data Accessibility & TAM Each step makes the data INSIGHTS ea
Slide 27: Actionable
GTM & Product Actionable Build an incredible ecosystem for partners... Open APIs Open standards Meeting partners and customers where they are Integrating into their workflows ...and, build our own world-class product: Planet Explorer 27
Slide 28: Established Subscription Business Across Many Large Verticals
GTM & Product Established Subscription Business Across Many Large Verticals DEFENSE & MAPPING / AGRICULTURE CIVIL FORESTRY ENERGY FINANCE INSURANCE INTELLIGENCE INTERNET • Variable Rate Seeding / • Security & Safety • Permitting & Code • Topography • Depletion • Monitoring • ESG Metrics • Imagery an
Slide 29: Agriculture
GTM & Product Agriculture Commodity Prices Crop Yield Crop Biomass Fusion + NDVI Monitoring CUSTOMER VALUE EXAMPLE USE CASES ✔ Less time in the field ● Monitoring ✔ Less crop damage ● Variable rate seeding ✔ Greater cost-efficiency ● Crop yield ✔ Greater revenue ● Directed scouting ● Harvest planning
Slide 30: Defense and Intelligence
GTM & Product Defense and Population Summary Stats Intelligence Change Detection ML-Ready Tasking CUSTOMER VALUE EXAMPLE USE CASES ✔ Security ● Change detection ✔ Safety ● Tip and cue ✔ Domain awareness ● Object identification ✔ Transparency ● Emergency response ✔ Lives saved ● Resource monitoring SE
Slide 31: Civil Government
GTM & Product Civil Carbon Sequestration Economic Activity Government Land Cover Basemaps Monitoring CUSTOMER VALUE EXAMPLE USE CASES ✔ Greater revenue ● Environmental monitoring ✔ Decrease disaster impact ● Permitting/code enforcement ✔ Natural resource protection ● Disaster management ✔ Greater va
Slide 32: Finance
GTM & Product Finance ESG Scoring Asset Monitoring Change Detection CUSTOMER VALUE EXAMPLE USE CASES ✔ Alpha ● Asset monitoring ✔ Economic insight ● Risk calculation ✔ Global visibility ● Commodity pricing ✔ Ground truth ● Yield estimation ● ESG scoring SELECT CUSTOMERS 32
Slide 33: Highly Diversified and Differentiated Revenue Base
GTM & Product Highly Diversified and Differentiated Revenue Base Revenue by Vertical FY2021A FY2026E REVENUE 25% REVENUE 7% Agriculture $113 MM 14% 23% Channel $693 MM 17% 24% 10% 22% Finance 17% Civil Govt. 10% Energy 15% Defense 33 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 34: Product Demo
Product Demo Tanya Harrison Director of Science Strategy ICY SUMY OBLAST, Ukraine
Slide 35: Planet Explorer & Tasking Dashboard
Sales Coverage Strategy UNDER REVIEW BY CC Planet Explorer & Tasking Dashboard 35
Slide 36: Planet Fusion
Product Demonstration Sensor data fusion of Planet Fusion Sentinel-2, Dove & Landsat-8 Planetscope Daily Planet Fusion 36
Slide 37: Planet Fusion
Product Demonstration Planet Fusion Stable Spectral Information, Exactly When You Need It Daily (gap-free) tracking of vegetation dynamics Continuous stream of data that is cloud-free, 1 gap-filled, and traceable at the pixel level. Validation by measurements on the ground NDVI 0 PS L3H Fusion ground
Slide 38: Planet Analytics Feeds
Product Demonstration Planet Analytics Feeds Identify. Detect. Analyze. ● Global, regional, and local scales ● Weekly, monthly, or quarterly feeds using computer vision, machine learning, and Planet Basemaps ○ Roads ○ Buildings ○ Well pads ○ Silo bags ○ Vessels ○ Aircraft ○ Automated change detectio
Slide 39: Settlement Growth in Syria
Product Demonstration Settlement Growth in Syria Infrastructure Monitoring on a Monthly Basis 39
Slide 40: Our Partner Ecosystem in Action
Product Demonstration Our Partner Ecosystem in Action SpaceKnow: Urban Growth Analysis Using SkySat ● SpaceKnow’s machine learning tools automatically detect where buildings and roads have been built or removed ● Proprietary algorithm that segments land into Water, Roads, Urban, Non-urban, Clouds, T
Slide 41: Our Customers in Action
Product Demonstration Our Customers in Action NASA’s COVID-19 Dashboard: Analytics from Planetscope 41
Slide 42: Research with Planet Data
Product Demonstration Research with Planet Data Predicting cell phone Income & inequality Methane emissions Effects of climate adoption metrics mapping from wetlands change in the Arctic Catching landslides & Mapping urban air Measure effects of Tracking plastic in the floods quality over time earthq
Slide 43: Sales Strategy
Sales Strategy Charlie Candy Chief Revenue Officer MAILUU-SUU, Kyrgyzstan
Slide 44: Sales Organization
Sales Strategy Sales Organization Global SaaS Enterprise Model - Winning & Serving Customers Land & Expand Adopt & Renew SALES CUSTOMER Geo Teams • Gov Sales • Strategic Accounts • SME • CSM’s AEs SUCCESS Channel • BD • Inside Sales • Sales Ops • Support • Pro Serve GLOBAL SUPPORT TEAMS MEDDPICC • P
Slide 45: Established Network of Leading Partners
Sales Coverage Strategy Established Network of Leading Partners 200+ Partner Network Spanning Across 66 Countries • Consists of solution providers, OEM partners, and GIS Platform Companies • All have deep expertise building last-mile vertical solutions Our Partner using satellite imagery and geospat
Slide 46: Driving Sales Productivity
Sales Coverage Strategy Driving Sales Productivity Core Areas of Focus Targeted Extend Strategic Increase AE Further investment Leverage Business Verticalization to Accounts Program headcount with Tier in Sales Development to align resources with to serve largest 1 account focus to Enablement and en
Slide 47: Consistently Adding New Customers
Sales Coverage Strategy Consistently Adding New Customers EoP Customer Count 732 669 618 563 539 470 442 426 366 316 FY20 FY21 FY22 47
Slide 48: How Customers Explore and Expand: Civil Government
Sales Coverage Strategy How Customers Explore and Expand Case Study: Civil Government +1,000% QoQ ACV Expansion Annual Contract Value (ACV) Planet Data → Change Detection → $1.3M ACV Expansion: Characterizing Landscape Customer Recognizes Unique Capability → Single Source Procurement Provider → Plan
Slide 49: How Customers Explore and Expand: Commercial Agriculture
Sales Coverage Strategy How Customers Explore and Expand Case Study: Commercial Agriculture Planet Data → Algorithms → Detect Shifts in Vegetation Health +25% ACV TODAY Expansion +2 Products +87% ACV +$8M PS Basemaps & SS Flexible Tasking Expansion ACV Annual Contract Value (ACV) Translating Planet
Slide 50: Shifting Customer Mix As We Expand TAM
Sales Coverage Strategy Shifting Customer Mix As We Expand TAM Note: Planet has a Fiscal Year ending January 31. Note: Analysis excl. Short-Term Deals 50 1 ACV of customers with >$10m of ACV for customers
Slide 51: Strategic & Government Account Teams Sustain Growth in >$1M Customers
Sales Coverage Strategy Strategic & Government Account Teams Sustain Growth in >$1M Customers >50% CAGR¹ IN >$1M ACV CUSTOMER COUNT OVER 40 DEALS IN THE PIPELINE >$1M ACV 51 1 Evaluated over fiscal periods 4Q’20-2Q’22
Slide 52: Pipeline Growth
Sales Coverage Strategy Pipeline Growth Qualified Pipeline in Priority Industry Segments 45% Year-Over-Year Pipeline Growth1 3% M METRICS 37% 5% E ECONOMIC BUYER D DECISION MAKER 11% D DECISION CRITERIA P PAPER PROCESS I IDENTIFIED PAIN 13% 16% C CHAMPION C COMPETITION 52 Note:Pipeline by industry se
Slide 53: Customer Testimonials
Customer Testimonials SALT LAKE, China
Slide 54: Evolution of Geospatial
Evolution of Geospatial Robert Cardillo Chief Strategist and Chairman of Planet Federal SOUTH AUSTRALIA, AUSTRALIA
Slide 55: Planet is Transforming the Industry
Evolution of Geospatial Planet is Transforming the Industry Democratizing Fueling the Machine Unleashing Global Location Intelligence Learning Engine Applications 55
Slide 56: Presenting the President's Daily Brief
Evolution of Geospatial Presenting the President’s Daily Brief Official White House Photo by Pete Souza 56
Slide 57: How Geospatial Started
Evolution of Geospatial First image taken by CORONA satellite and successfully retrieved from return capsule. How Geospatial Started Shows Mys Shmidta Air Field, USSR, 18 Aug 1960. 57 Image courtesy Johns Hopkins Applied Physics Laboratory Image courtesy National Reconnaissance Office
Slide 58: Space was hard then — and is still hard...
Evolution of Geospatial Space was hard then — and is still hard... U.S. Air Force photo 58
Slide 59: The Age of Spatial Resolution
Evolution of Geospatial The Age of Spatial Resolution 59 Planet (SkySat) Image courtesy Wikimedia Commons
Slide 60: The Challenge of Coverage
Evolution of Geospatial The Challenge of Coverage Image courtesy National Reconnaissance Office Photo: TASS 60
Slide 61: Covering the Clock
Evolution of Geospatial Covering the Clock 11:53 a.m 12:11 p.m. 1:59 p.m. 2:30 p.m. 2:51 p.m. 3:07 p.m. 5:12 p.m. TRAIN DEPOT Slyudyanka, Russia September 28, 2020 61
Slide 62: National Geospatial Intelligence Agency
Evolution of Geospatial National Geospatial Intelligence Agency 62 Image courtesy National Geospatial-Intelligence Agency
Slide 63: Every Day — Everywhere
Evolution of Geospatial Every Day — Everywhere Monthly Basemaps of a Port Under Construction in Mauritania, Africa September 2017 - April, 2021 63
Slide 64: Radio Free Asia, 2021
» Le. ws - 5 £. : =, China Reclaims Land, Fortifies Coast of South China Sea Island Base to Prevent Erosion
Slide 65: How it started... How it's going...
Evolution of Geospatial How it started... How it’s going... Image from the US National Archives U.S. Strategic Command (USSTRATCOM) Photo By: Adam Hartman 65
Slide 66: Sustainability & Impact
Sustainability & Impact Andrew Zolli VP of Sustainability and Global Impact Northern Manitoba, Canada
Slide 67: Our Opportunity
Sustainability & Impact Our Opportunity to set the standards by which governments, organizations and markets measure, act, report and are held accountable for their sustainability-related progress. 14 of 17 ESG-focused Corporate The Paris UN SDGs Institutions NetZero Plans Climate Agreement 67
Slide 68: Three Ways Planet Drives Sustainability
Sustainability & Impact Three Ways Planet Drives Sustainability Measuring and Monitoring Enabling Sustainable, Inclusive Improving Transparency Social and Ecological Change and Efficient Operations and Reporting Planet’s data is an essential tool Our data can help asset-holders Our data can power tru
Slide 69: Yuba City
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Slide 70: Truckee
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Slide 71: Philanthropies Governments Companies
Philanthropies Governments Companies
Slide 72: Moody's
Sustainability & Impact Moodys Our Latest Partnership 72
Slide 73: Financials
Financials Ashley Johnson Chief Financial and Operating Officer DATONG, CHINA
Slide 74: Compelling Subscription KPIs
Financials Compelling Subscription KPIs Predictable Subscription Long Term Multi- Track Record of Upsell Diverse Customer Base and Usage-Based Model Year Contracts Expansion Across Multiple Verticals 90%+ 70%+ 110%+ 700+ Recurring1 Multi-Year Net Dollar Customers Deals2 Retention Rate Across Multipl
Slide 75: Strong Growth Over the Last 5 Years
Financials Strong Growth Over the Last 5 Years… Consolidated Revenue ACV Breakdown1 ($ in millions) Fiscal Year Ended January 31st Recurring 8% $113 Other R % CAG $96 27 92% $73 $66 >1 Year $43 <=1 Year 27% 73% CY16 CY17 CY18 FY20 FY21 Note: Fiscal year changed from December 31st to January 31st in
Slide 76: Quarterly Revenue Trend
Financials Quarterly Revenue Trend ($ in millions) YoY Growth % A 15-32% A 6% 41% 10% 19% 8-16% 7% 19% A Quarterly Variability driven by customer consumption patterns and procurement cycles. 76
Slide 77: Strong Visibility to Revenue Based on Subscription Model
Financials Strong Visibility to Revenue Based on Subscription Model 85% - 95% Visibility for Revenue ($Millions) Topline Heading into Each Quarter. 77 Note: 3Q’22 Committed Revenue impacted by the discontinuation of services to a government customer that ceased to exist beginning in August 2021.
Slide 78: Net Dollar Retention Rate
Financials Net Dollar Retention Rate Measuring Product Adoption and Long-Term Customer Retention 14% Year-Over-Year Growth1 Winback: a customer who was inactive at the start of the fiscal year, but reactivated during the same fiscal year period. Reactivation period must be within 24 months from the la
Slide 79: Revenue Bridge to FY'23
Financials Revenue Bridge to FY’23 FY’21 FY’23E 21 46 Average Quota Carrying Reps (Ramped) $2.9m $2.1m Effective Quota Attainment Per Rep 113% 116% Net Dollar Retention Rate 79
Slide 80: Multiple Levers to Accelerate Revenue
Financials Multiple Levers to Accelerate Revenue $289m A Grow Customer Success B headcount by ~2x to drive customer retention and upsell Revenue ($ in millions) 65% of FY2022E revenue from B Grow Software Engineering committed Increase Sales Account Executives contracts headcount by ~2x and by ~2.5x
Slide 81: Path to Significant Scale with Compelling Unit Economics
Financials Path to Significant Scale with Compelling Unit Economics Consolidated Revenue ($ in millions) GR 44% CA $693 A A $449 A $289 $191 $130 $113 A 65% of FY2022E revenue FY21 FY22 FY23 FY24 FY25 FY26 from committed contracts B PlanetScope (~73% of Gross Profit1 FY2021A Revenue) had gross ($ in
Slide 82: A Business with Strong Operating Leverage
Financials A Business with Strong Operating Leverage Description Commentary Long-Term Target1 ▪ Cloud Hosting Costs ▪ Low incremental cost to serve a data subscription 15-20% ▪ Mission Operations Teams model COGS ▪ Technical Support ▪ Self-serve model drives high gross margins ▪ Professional Service
Slide 83: Lab Tour
Lab Tour James Mason SVP Space Systems Chester Gillmore VP Manufacturing Mark Longanbach VP Mission Operations DATONG, CHINA
Slide 84: Appendix
APPENDIX
Slide 85: Reconciliation of Non-GAAP Financials
Reconciliation of Non-GAAP Financials ($ in millions) Non-GAAP Gross Profit FY2021A Gross Profit $ 26 (+) Stock-Based Compensation1 1 Non-GAAP Gross Profit $ 27 Note: FYE January 31st. 1 Reflects stock-based compensation classified under cost of goods.