Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q3 2023 Earnings Presentation
27 slides from Planet Labs Pbc's earnings presentation, Dec 14, 2022
Slide 1: Fiscal 3Q'23 Update
FISCAL 3Q’23 UPDATE December 14, 2022 GLACIERS • Sorata Massif, Bolivia
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: Planet's Mission
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 change. © 2022 PLANET L
Slide 5: Planet is 'the Bloomberg Terminal' for Earth Data
EARNINGS UPDATE Planet is ‘the Bloomberg Terminal’ for Earth Data 6 © Copyright 2022 Planet Labs PBC All Rights Reserved 6
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 >850 3 Customers In Multiple Satellites in Orbit
Slide 7: Q3 Highlights
EARNINGS UPDATE Q3 Highlights 57% YoY Revenue Growth vs +59% YoY 2Q’23 ● Strong YoY Revenue Growth % Recurring ACV ● Significant Gross Margin Expansion 94% EoP 3Q’23 ● Large and Diversified Global Customer Base Non-GAAP ● Strong Balance Sheet 54% Gross Margin(1) vs 35% Fiscal 3Q’22 ● Sizeable TAM with
Slide 8: Recent Business Highlights
EARNINGS UPDATE Recent Business Highlights Partnership Announcement Partnership Announcement Customer Expansion New Partnership with New Partnership with >$10m Expansion Accenture AWS with International D&I Customer Salo Sciences Announcement Impact Program Launched Launched New Program for Signed A
Slide 9: Signed Acquisition Agreement with Salo Sciences, Inc.
Signed Acquisition Agreement with Salo Sciences, Inc. Planet-powered Analytic Solutions for Digital Measurement, Reporting and Verification of Above Ground Forest Carbon · Carbon Offsets / Insets · Forestry · Finance · Insurance · Sustainable Supply Chains · Jurisdictional Inventories Forest Carbon (
Slide 10: Mission Critical Data for a Rapidly Changing Planet
EARNINGS UPDATE Mission Critical Data for a Rapidly Changing Planet Measuring Changing of Global Mapping Utility-Scale Solar and Monitoring International Borders Weather Patterns Wind Installations Supporting Parametric Measuring Wheat Harvest in Identifying Environmental Insurance to Farmers for Uk
Slide 11: Flooding in Nigeria
“Hadejia floods turned Jigawa community into a waterlog island surrounded by flood water after submerging hundreds of acres of farmlands near the village.” - HumAngle Media Flooding in Nigeria • September 20, 2022
Slide 12: Sanibel Causeway, Florida
Hurricane Ian struck the area as a deadly Category 4 storm on September 29. The storm washed away at least five sections of the causeway, stranding residents on Sanibel and Captiva Islands, and hampering recovery efforts. This Planet image shows damage to the Sanibel Causeway, Fla., on Friday, Sept.
Slide 13: Nord Stream Pipeline, Bornholm, Denmark
On September 26, Planet satellites captured an image of the Nord Stream Gas pipeline rupture in the Baltic Sea, approximately 20 km southeast of Bornholm Island, Denmark. Seen here is pressurized methane producing a wide stream of bubbles on the sea surface. Nord Stream Pipeline • Bornholm, Denmark
Slide 14: Kerch Strait, Crimea
On the morning of October 8, a powerful explosion took place on the the only bridge connecting the Crimean peninsula with the Russian mainland. This PlanetScope image shows the damaged Kerch Strait Bridge following this major explosion. Kerch Strait, Crimea • October 10, 2022
Slide 15: Planet in the Media
EARNINGS UPDATE Planet in the Media Dec 1 Nov 18 Dec 3 Russia Reaped $1 Billion of Wheat in Ships Linked to Russia’s Biggest Grain The weather system that influences the Occupied Ukraine, NASA Says Exporter Moved Stolen Ukrainian Cargo world Nov 9 Oct 25 Oct 19 Who's Driving Climate Change? New Why H
Slide 16: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix Q3’23 Revenue Q3’23 Revenue by Geography by Customer Type 41% 34% 24% © Copyright 2022 Planet Labs PBC All Rights Reserved 17 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 17: Driving Growth
EARNINGS UPDATE Driving Growth Quarterly Revenue ($M) Annual Revenue ($M) 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
Slide 18: Relentless Customer Focus
EARNINGS UPDATE Relentless Customer Focus Consistent Customer Growth 864 Customers EoP 3Q’23 94% EoP Customer Count Recurring ACV EoP 3Q’23 125% Net Dollar Retention Rate Including Winbacks EoP 3Q’23 © Copyright 2022 Planet Labs PBC All Rights Reserved 19 Note: Planet has a Fiscal Year (FY) ending J
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
EARNINGS UPDATE Investing for Growth Sales & Software Next Gen Mergers & Marketing Engineering Data Sets Acquisitions Land & Expand Platform & Analytics To Meet Growing To Accelerate Market Demand Our Roadmap © 2022 PLANET LABS PBC ALL RIGHTS RESERVED
Slide 22: Fiscal 4Q'23 and FY'23 Outlook
EARNINGS UPDATE Fiscal 4Q’23 and FY’23 Outlook 4Q’23 FY’23 Revenue $50M - $54M $188M - $192M YoY Revenue Growth % +35% - 45% +43% - 47% Non-GAAP Gross Margin %(1)(3) 56% - 59% 52% - 53% Adjusted EBITDA(2)(3) ($21M) - ($16M) ($60M) - ($56M) Capex as a % of Revenue 8% - 11% 8% - 9% ● Strong top-line g
Slide 23: Appendix
APPENDIX Great Barrier Reef, Australia – July 8, 2016
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin1 % Three Months Ended Year Ended January 31, April 30, July 31, October 31, January 31, April 30, July 31, October 31, January 31, January 31, 2021 2021 2021 2021 2022 2022 2022 2022 2021 2022 GAAP Gross Profit $ 7.5
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 12: ● HumAngle Media, November 16, Nigeria’s Floods Leave A Trail Of Ruin And Heartbreak — Photo Essay (I) Slide 16: ● Bloomberg, December 3, Russia Reaped $1 Billion of Wheat in Occupied Ukraine, NASA Says ● The Wall Street Journal, December 1, Ships Linked to Ru