Planet Labs Pbc · NYSE:PL

Planet Labs Pbc — Investor Day (October 2022)

69 slides from Planet Labs Pbc's investor day presentation, Oct 12, 2022

Slide 2: Agenda
Vision and Opportunity - Will Marshall, Co-Founder and CEO Agenda Product and Platform - Kevin Weil, President Product Demonstration Go-to-Market Strategy - Charlie Candy, Chief Revenue Oﬃcer Customer Conversation - Nalini Polavarapu, Vice President of Data Science at Bayer Impact and Sustainability
Slide 3: Disclaimers
Disclaimers Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation and made by our executive team during the course of this Investor Day are forward-looking statements within the meaning of the "safe harbor" provisions of the Pri
Slide 5: Planet's Mission
VISION AND OPPORTUNITY PLANET’S MISSION To image the whole world every day and make global change visible, accessible, and actionable. Our Public Beneﬁt Corporation (PBC) Purpose: To accelerate humanity toward a more sustainable, secure, and prosperous world by illuminating environmental and social
Slide 6: The Planet Opportunity
VISION AND OPPORTUNITY The Planet UNIQUE DATA Daily, Global Scanning + High Resolution Tasking Opportunity As Shared Last Year LARGE AGRICULTURE DEFENSE & CIVIL TECHNOLOGY & INTELLIGENCE SERVICES ADDRESSABLE MARKET NATURAL RESOURCE ENERGY FINANCE INSURANCE MANAGEMENT HIGHLY SCALABLE One-To-Many Mode
Slide 7: Planet by the Numbers
VISION AND OPPORTUNITY Planet by the Numbers GROWTH LARGE AND DIVERSE DELIVERING HIGHLY SCALABLE CAPITALIZED FOR GROWTH ACCELERATION CUSTOMER BASE CUSTOMER VALUE MODEL INITIATIVES +42% 855 127% ~50% $458m Highly Scalable Cash, Cash YoY Revenue Growth Customer Count Net Dollar Non-GAAP Expected for F
Slide 8: Tailwinds Driving Demand
VISION AND OPPORTUNITY Tailwinds Driving Demand SUSTAINABILITY TRANSFORMATION Planet can help countries measure DIGITAL their regulations, banks measure TRANSFORMATION their green bonds, companies measure their ESG goals – valuing Planet delivers data to create natural systems in the economy. digita
Slide 9: Vertical Markets Addressed
VISION AND OPPORTUNITY Vertical Markets Addressed DEFENSE & TECHNOLOGY & NATURAL RESOURCE AGRICULTURE CIVIL ENERGY FINANCE INSURANCE INTELLIGENCE SERVICES MANAGEMENT Multiple Hedge Funds U.S. National Reconnaissance Oﬃce Multiple Multinational Investment Banks Multiple Strategic Ministries of Defens
Slide 11: Executing to Plan
VISION AND OPPORTUNITY Executing to Plan PRODUCT BUSINESS PARTNERSHIPS & Completed Dove Fleet Upgrade to +78% YoY Headcount for Sales Organization ACQUISITIONS SuperDove as of 2Q’23 VanderSat acquired December FY ‘22 Optimized SkySat Tasking Systematically Scaling New Planetary Variables to Move Up
Slide 12: Driving Humanitarian Action in Ukraine
VISION AND OPPORTUNITY Driving Humanitarian Action in Ukraine Planet has provided imagery to a Supporting 30+ NGOs and variety of organizations helping related organizations engaged in Ukraine, including: across numerous activities: 1. Governments ● Building damage assessment 2. NGOs ● Humanitarian
Slide 13: Driving Humanitarian Action in Ukraine
VISION AND OPPORTUNITY Driving Humanitarian Action in Ukraine Crop Map, 2022 at 3 Meter Resolution (August Occupation Boundaries) Agricultural ﬁelds in Mykolaiv, Ukraine analyzed for food security courtesy of NASA Harvest, Phase 2 report. Overall map accuracy 94% based on 4703 ground samples Spring/
Slide 14: Planet's data is shining a light on Ukraine and other global events
VISION AND OPPORTUNITY Planet’s data is shining a light on Ukraine and other global events… China Is Accelerating Its Nuclear Buildup Over Rising Fears of U.S. Conflict The Illegal Airstrips Bringing Toxic Mining to Brazil’s Indigenous Land …and these events are shining a light on the mission critic
Slide 15: Planet's North Star
VISION AND OPPORTUNITY Planet’s North Star Scaling a Next Generation Earth Data Platform TOMORROW Platform Company TODAY • We plan to build an Earth data platform that enables millions of people to take positive Data Company action. YESTERDAY • Established “product to market ﬁt” in large markets. •
Slide 18: Planet's One-To-Many Business Model
PRODUCT AND PLATFORM Planet’s One-To-Many Business Model One-To-Many Recurring Data Data Solutions Business Model Subscriptions PlanetScope Monitoring High Resolution Tasking 93% Recurring ACV as of EoP 2Q’23 Archive Data Fusion Uniquely Scalable Enterprise Software Motion >90% Highly Repeatable Ann
Slide 19: Customer-Driven Product Improvements
PRODUCT AND PLATFORM Customer-Driven Product Improvements Improved Band Alignment PlanetScope 8-Band Upgrade Higher Quality Analytics Tasking Optimization INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 20: Relentless Customer Focus
PRODUCT AND PLATFORM Relentless Customer Focus Signiﬁcant Improvement in Net Promoter Score NPS All Accounts 62 62 70 85 +63% YoY NPS for Top 50 NPS for >$1M ACV Accounts in 2Q’23 Accounts in 2Q’23 38 DRIVERS • Investment in Product Fundamentals and Usability • Investment in Global Customer Success
Slide 21: Increasing Multi-Product Customers
PRODUCT AND PLATFORM Increasing Multi-Product Customers % of Book of Business EoP ACV Customers Using 1 Product Customers Using 2 Products 14 Customers Using 3+ Products INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 24: Planetary Variables
PRODUCT DEMONSTRATION Planetary Variables From the VanderSat Acquisition SOIL WATER CONTENT LAND SURFACE TEMPERATURE BIOMASS PROXY 100 x 100 m 100 x 100 m 10 x 10 m Near Real Time Near Real Time Near Real Time 20 year archive 20 year archive 4-year archive Global Global We’re making the analysis-rea
Slide 25: Product Strategy
PRODUCT AND PLATFORM PLANET’S MISSION Product To image the whole world every day and make Strategy global change… VISIBLE ACCESSIBLE ACTIONABLE Agile Space Move Up the Build the Missions Data Pyramid Earth Data Platform INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 26: Planned High Resolution Upgrade
PRODUCT AND PLATFORM CURRENT CONSTELLATIONS SuperDove SkySat Always-on Monitoring High-Resolution Tasking Visible PLANNED HIGH RESOLUTION UPGRADE ● ~180 satellites ● 21 satellites Agile Space ● Up to 300 million km2 / day ● 50cm resolution Missions ● 8-band ● RGB, NIR, and Pan bands ● Unique scannin
Slide 27: High Revisit, High Res Data: Meet Pelican
PRODUCT AND PLATFORM High Revisit, Planet’s next-generation satellite constellation for delivering high-resolution, rapid revisit High Res Data information – anywhere on the globe. Meet Pelican RESPONSIVE • RAPID REVISIT • HIGHLY PRECISE • INTEROPERABLE EXPANSIVE GREATER MORE HIGHER DAILY COVERAGE P
Slide 28: High Precision Hyperspectral Data
PRODUCT AND PLATFORM High Precision Hyperspectral imaging captures the unseen, revealing valuable information Hyperspectral Data that enables improved modeling, Brought to you by Tanager reduced uncertainty, and better, more efﬁcient decision making. • CROP DIFFERENTIATION • BIODIVERSITY TRACKING •
Slide 29: Platform Data Accessibility & TAM
PRODUCT AND PLATFORM The Data GDP Carbon Commodity UN Insurance Water Population INDICATORS Pyramid Estimates Sequestration Prices SDGs Risk Availability Platform Data Accessibility & TAM Planet is building a platform on Supply Asset Crop Crop Summary Economic Parametric INSIGHTS top of our propriet
Slide 32: Hitting Our Targets
GO-TO-MARKET STRATEGY Hitting Our Targets Increase AE Targeted Extend Strategic Investment in Sales Enter new markets headcount with Verticalization Accounts Program Enablement and and bring new Tier 1 account focus Onboarding products to ✔ 3 out of 4 Regions ✔ >30% YoY existing markets ✔ >55 Planet
Slide 33: Growing the Customer Base
GO-TO-MARKET STRATEGY Growing the Customer Base Consistent Customer Growth Momentum in >$1M Customers1 855 Customers EoP 2Q’23 25 19 14 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED 1 Represents the number of active customers with an Annual Contract Value (ACV) of greater than $1 million at the end of
Slide 34: Case Study: Expansion Through Use Case Growth
GO-TO-MARKET STRATEGY Case Study: Expansion Through Use Case Growth A Partner Servicing both Civil & National Defence Industry Aligned vision: Case study partner continues to expand use cases with a goal to service society as a whole. 5x Use cases added over time: FY24 Annual Contract Value (ACV), $
Slide 35: Case Study: Strategic Customer Focus
GO-TO-MARKET STRATEGY Case Study: Strategic Customer Focus A Cohort of Multiple Strategic Agriculture Customers1 +136% 3 Year CAGR Average Customer ACV, $M +225% YoY Growth as of Jul’22. Less than 1 year since Global Strategic Accounts team was established. Global Strategic Accounts Team Established
Slide 36: The Engine is Humming
GO-TO-MARKET STRATEGY The Engine is Humming Regional - broad coverage across geos and verticalized where valuable SMB AEs 15% 17% +50% Government - sector focused for US and international customers R Regional AEs YoY Growth in CSMs Strategic - focused on large Government AEs 2Q’23 v 2Q’22 commercial
Slide 38: Our Prioritization Goals
GO-TO-MARKET STRATEGY Our Prioritization Goals USE CASES WITH ACHIEVE Proven Solutions/Partners Higher Renewals / Expansion Large, Quantiﬁable ROI Increased Average ACV Competitive Differentiation Increased Sales Win-Rate Repeatability / # Customers Reduced Cost of Sales INVESTOR DAY 2022 © 2022 PLA
Slide 39: Use Case Prioritization
GO-TO-MARKET STRATEGY Use Case Prioritization < DIRECT/TARGETED PARTNER/QUALIFIED > AG CIVIL GOV D&I NATL RES / ENERGY MINING INDUSTRIAL / SERVICES WATER CPG Directed Permit Power comp Forest & Vegetation Monitoring Supply chain Insurance scouting enforcement monitoring vegetation management tailing
Slide 40: Robust Pipeline
GO-TO-MARKET STRATEGY Robust Pipeline Qualiﬁed ACV Pipeline Through FY’24 13% As of 09/29/22 3% 6% 42% 9% 10% 17% Note: Qualiﬁed ACV Pipeline through FY’24 represents customer contracts with projected close dates between 09/29/22 and 01/31/24. INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESE
Slide 41: Co-pilot
Co-pilot INVESTOR DAY 2022
Slide 42: This Isn't Rocket Science
GO-TO-MARKET STRATEGY This Isn’t Rocket Science Industry & Use Customer Partnerships Case Focus Success Sales Operational Excellence Eﬃciency INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 45: More than One Scientific Paper with Planet Data Published Each Day
IMPACT AND SUSTAINABILITY More that One Scientiﬁc Paper with >2,000 Planet Data is Published Each Day PUBLICATIONS IN TOTAL ● Rate is now one every <15 hours ● Publications are Earth-system wide and cover all of Planet’s core verticals and use-cases ● It’s a Company-wide effort (E&R, NASA, ESA, DLR,
Slide 46: Monitoring the World's Tropical Deforestation
IMPACT AND SUSTAINABILITY Monitoring the World’s Tropical Deforestation - Comprehensively In September 2020, Planet “This will revolutionize global was awarded an international contract by Norway’s Ministry forest monitoring. Better of Climate & Environment to insight into what is provide comprehens
Slide 47: Setting A Global Standard
IMPACT AND SUSTAINABILITY Setting A Global Standard 14K USERS REGISTERED SINCE 155 COUNTRIES 60M TILES STREAMED FROM OCTOBER 2020 REPRESENTED PLANET EXPLORER BY USERS SINCE Q1 2021 INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 48: A conversation with Juan Lavista Ferres
IMPACT AND SUSTAINABILITY: PARTNER CONVERSATION A conversation with Juan Lavista Ferres Chief Data Scientist + Vice President Microsoft INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 49: A conversation with Inbal Becker-Reshef
IMPACT AND SUSTAINABILITY: PARTNER CONVERSATION A conversation with Inbal Becker-Reshef Program Director, NASA Harvest INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 50: Accelerating Time-to-Impact, Efficiency, and Velocity
IMPACT AND SUSTAINABILITY Accelerating Time-to-Impact, Efﬁciency, and Velocity INVESTOR DAY 2022 © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 52: Q2 Highlights
FINANCIALS Q2 Highlights Growth Growth Acceleration High Visibility & Acceleration High Visibility & Predictability Predictability 59% YoY Revenue Growth vs +26% YoY 1Q’23 93% % Recurring ACV EoP 2Q’23 Highly Scalable INVESTING FOR Business Model Strong Balance Sheet LONG-TERM MODEL HighlyNon-GAAP S
Slide 53: Growth Acceleration
FINANCIALS Growth Acceleration Growth Levers Annual Revenue ($ in millions) $182-190 EXPAND WITH EXISTING CUSTOMERS +39-45% + Net Dollar Retention + Net Promoter Scores $131 $113 LAND NEW CUSTOMERS IN CORE MARKETS $96 + Ramped AEs + Pipeline Generation $66 $73 NEW PRODUCTS + NEW MARKETS + Product Us
Slide 54: Growth Acceleration: Net Dollar Retention
FINANCIALS Growth Acceleration Signiﬁcant YoY Improvement in NDRR Customer Expansions NDRR NDRR + Winbacks 125% 127% 855 127% Net Dollar Retention Rate 96% with Winbacks1 90% Drivers Increasing Area Coverage Cross-selling Planet Products Expanding Across Teams Use Case Expansion EoP 2Q’222 EoP 2Q’23
Slide 55: How We Measure Net Dollar Retention Rate
FINANCIALS How We Measure Net Dollar Retention Rate NDRR We deﬁne Net Dollar Retention NDRR + Winbacks 125% 127% Rate (NDRR)2 as the percentage of 116% ACV generated by existing 108% 105% 105% 105% customers in a given period as 100% 100% 98% 100% 100% 96% compared to the ACV of all 93% 95% 90% 1 co
Slide 57: 93% Recurring ACV
FINANCIALS Visibility and Predictability Recurring Revenue Model 93% Recurring ACV Majority Archive 7% (Upfront Rev Rec) ⅔ Ratable Data Subscriptions ⅓ Minimum-Commitment Usage-based Contracts Note: Represents EoP ACV Book of Business as of 7/31/2022. Please see appendix to this presentation for deﬁ
Slide 58: Quarterly Revenue Trend
FINANCIALS Quarterly Revenue Trend A Quarterly Revenue ($ in millions) $48–$53 $45–$48 A $48 A Quarterly Variability driven by customer A $40 consumption patterns and $37 procurement cycles. $32 $32 $30 $30 $30 $27 $26 1Q’21 2Q’21 3Q’21 4Q’21 1Q’22 2Q’22 3Q’22 4Q’22 1Q’23 2Q’23 3Q’23E1 4Q’23E2 1 3Q’
Slide 59: Operating Leverage
FINANCIALS Operating Leverage Scaling Non-GAAP Gross Margins1 49-54% 52% 47-49% Key Expansion Drivers 45% 41% 42% ● Strong Top line Growth 36% 35% ● Scalable Data Subscription Model 28% ● Efﬁciency of Vertically- Integrated 25% Agile Space Missions Model ● Enterprise and Government Customer Success
Slide 60: Flexible Space Mission Ramp
FINANCIALS Flexible Space Mission Ramp Agile Space Missions / Agile CapEx Advance Scale Up Market Demand $ Commitments $$ Considerations $$$ Alignment ● Long-Lead Items ● Enable ● In-house Acceleration Manufacturing ● Volume Discounts ● Mitigate ● Off-the-Shelf ● Mitigate Supply Program Risk Compone
Slide 61: Multiple Paths for Margin Expansion
FINANCIALS Multiple Paths for Margin Expansion Scaling Margins Via our one-to-many data subscription model, margins expand as revenue scales, providing opportunity to invest in new capabilities, as prior ﬂeets roll ofﬂine. REVENUE illustrative only Tanager Illustrative Depreciation Pelican Illustrat
Slide 62: Long Term Targets
FINANCIALS Long Term Targets % of Revenue Target Potential Drivers Non-GAAP Gross Margin 70 – 80% - One-to-Many Model - Data Leadership Non-GAAP R&D 16 – 19% - Platform “Lego Blocks” - Use Case Focus Non-GAAP S&M 24 – 27% - Partner Ecosystem - Automation Non-GAAP G&A 6 – 9% - Scale Efﬁciencies Adjus
Slide 66: Appendix
APPENDIX
Slide 67: Definitions
APPENDIX 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 Non-GA
Slide 68: Definitions
APPENDIX Deﬁnitions EoP Customer Count We deﬁne EoP Customer Count as the total count of all existing customers at the end of the period. We deﬁne existing customers as customers with an active contract with us at the end of the reported period. For the purpose of this metric, we deﬁne a customer as
Slide 69: Reconciliation of Non-GAAP Financial Measures
APPENDIX Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin1 % Three Months Ended Year Ended October January April 30, July 31, October January April 30, July 31, January January 31, 2020 31, 2021 2021 2021 31, 2021 31, 2022 2022 2022 31, 2021 31, 2022 GAAP Gross Pro

Planet Labs PBC — Investor Day (October 2022) on 6ix

Planet Labs Pbc — Investor Day (October 2022)

Slide 1: Investor Day 2022

Slide 2: Agenda

Slide 3: Disclaimers

Slide 4: Will Marshall, Co-Founder & CEO

Slide 5: Planet's Mission

Slide 6: The Planet Opportunity

Slide 7: Planet by the Numbers

Slide 8: Tailwinds Driving Demand

Slide 9: Vertical Markets Addressed

Slide 10: Planet is 'the Bloomberg Terminal' for Earth Data

Slide 11: Executing to Plan

Slide 12: Driving Humanitarian Action in Ukraine

Slide 13: Driving Humanitarian Action in Ukraine

Slide 14: Planet's data is shining a light on Ukraine and other global events

Slide 15: Planet's North Star

Slide 16: Meeting the Moment

Slide 17: Kevin Weil, President of Product and Business

Slide 18: Planet's One-To-Many Business Model

Slide 19: Customer-Driven Product Improvements

Slide 20: Relentless Customer Focus

Slide 21: Increasing Multi-Product Customers

Slide 22: © 2022 PLANET LABS PBC ALL RIGHTS RESERVED

Slide 23: © 2022 PLANET LABS PBC ALL RIGHTS RESERVED

Slide 24: Planetary Variables

Slide 25: Product Strategy

Slide 26: Planned High Resolution Upgrade

Slide 27: High Revisit, High Res Data: Meet Pelican

Slide 28: High Precision Hyperspectral Data

Slide 29: Platform Data Accessibility & TAM

Slide 30: Earth Data Platform

Slide 31: Charlie Candy, Chief Revenue Officer

Slide 32: Hitting Our Targets

Slide 33: Growing the Customer Base

Slide 34: Case Study: Expansion Through Use Case Growth

Slide 35: Case Study: Strategic Customer Focus

Slide 36: The Engine is Humming

Slide 37: Nalini Polavarapu, Bayer

Slide 38: Our Prioritization Goals

Slide 39: Use Case Prioritization

Slide 40: Robust Pipeline

Slide 41: Co-pilot

Slide 42: This Isn't Rocket Science

Slide 43: Andrew Zolli, Chief Impact Officer

Slide 44: Solutions for an age of planetary emergencies

Slide 45: More than One Scientific Paper with Planet Data Published Each Day

Slide 46: Monitoring the World's Tropical Deforestation

Slide 47: Setting A Global Standard

Slide 48: A conversation with Juan Lavista Ferres

Slide 49: A conversation with Inbal Becker-Reshef

Slide 50: Accelerating Time-to-Impact, Efficiency, and Velocity

Slide 51: Ashley Johnson, CFO and COO

Slide 52: Q2 Highlights

Slide 53: Growth Acceleration

Slide 54: Growth Acceleration: Net Dollar Retention

Slide 55: How We Measure Net Dollar Retention Rate

Slide 56: Diversified Markets

Slide 57: 93% Recurring ACV

Slide 58: Quarterly Revenue Trend

Slide 59: Operating Leverage

Slide 60: Flexible Space Mission Ramp

Slide 61: Multiple Paths for Margin Expansion

Slide 62: Long Term Targets

Slide 63: Robert Cardillo, Chief Strategist, Planet Federal

Slide 64: © 2022 PLANET LABS PBC ALL RIGHTS RESERVED

Slide 65: Will Marshall, Co-Founder & CEO

Slide 66: Appendix

Slide 67: Definitions

Slide 68: Definitions

Slide 69: Reconciliation of Non-GAAP Financial Measures