Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q2 2025 Earnings Presentation
29 slides from Planet Labs Pbc's earnings presentation, Sep 5, 2024
Slide 1: Fiscal 2Q'25 Update
FISCAL 2Q’25 UPDATE September 5, 2024 OLYMPIC RINGS, EIFFEL TOWER, PARIS, FRANCE August 11, 2024 • SkySat
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 presentation 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: Use of Non-GAAP Financial Measures
Disclaimers Use of Non-GAAP Financial Measures This presentation includes Non-GAAP Gross Profit, Non-GAAP Gross Margin and Adjusted EBITDA, which are non-GAAP measures Planet uses to supplement its results presented in accordance with U.S. GAAP. Planet includes these non-GAAP financial measures beca
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 2024 Planet Labs PBC All Rights Reserved 4
Slide 5: The Planet Opportunity
EARNINGS UPDATE The Planet Opportunity UNIQUE DATA Daily, Global Scanning + High Resolution Tasking LARGE Agriculture Defense & Intelligence Civil Government Technology and Services ADDRESSABLE MARKET Natural Resource Energy Finance Insurance Management HIGHLY SCALABLE One-to-Many Model BUSINESS MOD
Slide 6: Q2 at a Glance
EARNINGS UPDATE Q2 at a Glance Recent Highlights ● Introductory Contract with NATO $61.1 M 58% ($4.4)M Communications & Information Agency for the Alliance Persistent Surveillance from Space Program Record Revenue Non-GAAP Adjusted ● Seven-figure SkySat Expansion with an International Government in 2
Slide 7: Recent Customer Highlights
EARNINGS UPDATE Recent Customer Highlights DEFENSE & INTELLIGENCE DEFENSE & INTELLIGENCE CIVIL GOVERNMENT New Customer 7-Figure MDA Win Partner AI-Solution NATO Communications International Defense Customer Smart City Management for & Information Agency Kingdom of Bahrain with Aetosky CIVIL GOVERNME
Slide 8: Tanager-1 Launch: Planet's First Hyperspectral Satellite
Tanager-1 Launch: Planet’s First Hyperspectral Satellite On August 16, 2024, Planet’s first hyperspectral satellite, Tanager-1, was launched into orbit onboard SpaceX’s Transporter-11 Rideshare mission, along with 36 Planet SuperDove satellites. The satellite is now undergoing commissioning. Tanager-
Slide 9: Mission-Critical Data for a Rapidly Changing Planet
EARNINGS UPDATE Mission-Critical Data for a Rapidly Changing Planet Planet supports impact and sustainability initiatives around the world... Microsoft uses Planet data and AI to Slovenian National Payment Agency transform biodiversity protection in leverages Planet solutions to monitor South Americ
Slide 10: The New York Times Reporting on Chinese Border Villages
The New York Times Reporting on Chinese Border Villages Last month, journalists at the New York Times released an in-depth report regarding Chinese village settlements in border areas. The New York Times worked with Planet partner RAIC Labs, formerly known as Synthetaic, to analyze Planet data and i
Slide 11: Khojir Complex, Tehran Province, Iran, March 2024
DEFENSE & INTELLIGENCE This image, captured on March 13, shows new construction at the Khojir missile production complex near Tehran, Iran. Experts note that new structures are surrounded by large dirt berms designed to contain potential blasts, a common signature of missile production facilities. I
Slide 12: Kim Il Sung Square, Pyongyang, June 2024
DEFENSE & INTELLIGENCE This image, captured on June 13, shows welcome celebration preparations in Pyongyang, North Korea. Russian President Vladimir Putin arrived in the North Korean capital on June 18, his first visit in 24 years. The images appear to show a main stage and staging pens being constru
Slide 13: Hurricane Beryl Impact, Saint Vincent and the Grenadines
June 26, 2024 July 6, 2024 PlanetScope PlanetScope DISASTER RESPONSE Planet partnered with Microsoft’s AI for Good Lab and humanitarian aid organizations to support a rapid disaster response and building damage assessment to cover the impact of Hurricane Beryl on Grenada. Beryl struck in late June t
Slide 14: Lahaina 1 Year Later, Hawaii
IMPACT One year after the devastating fire in Lahaina, Hawaii, the community is still in the early stages of recovery and rebuilding. Over a thousand residential and commercial lots have been cleared of ash and debris, allowing residents to begin the rebuilding process, although many remain in tempor
Slide 15: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights July 8 | Low-Earth Orbit Is Where the July 8 | Exclusive: Satellite photos Aug 12 | Amazon rainforest stores carbon Real Action Is in Space show Iran expanding missile for the world, but this carbon sink is at production risk, a study finds Aug 16 | Group backe
Slide 16: Planet Insights Platform customer quote
“Planet Insights Platform helped us quickly distribute data and insights across our agency by integrating seamlessly in our current software ecosystem." VALENTIN LOUIS Senior Earth Observation Specialist UK Rural Payments Agency © 2024 2023 PLANET PLANET LABS LABS PBC PBC ALL ALLRIGHTS RIGHTSRESERVE
Slide 17: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix 2Q’25 Revenue 2Q’25 Revenue by Geography by Sector 5% 23% 50% 49% 28% 28% 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,
Slide 18: Strong Revenue Growth
EARNINGS UPDATE Strong Revenue Growth Q2 Revenue YoY ($ in millions) Annual Revenue ($ in millions) +15% YoY Growth +14% YoY 221 191 131 113 96 2Q ‘23 2Q ‘24 2Q ‘25 FY20 FY21 FY22 FY23 FY24 © Copyright 2024 Planet Labs PBC All Rights Reserved 18 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 19: Growing Customer Base
EARNINGS UPDATE Growing Customer Base Reflects recent focus on large customers in core growth verticals and enabling smaller customers through our platform or marketplace partners 1,012 EoP Customer Count1 EoP 2Q’25 96% EoP Customer Count Recurring ACV EoP 2Q’25 >90% Annual or Multi-Year Contracts2 E
Slide 20: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency Non-GAAP Gross Margin1 Adjusted EBITDA1 ($ in millions) (4) 58% 55% 58% 52% 52% (8) (10) (12) (14) 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 + Acquiring New Customers and Expanding Customer + 5th Sequential Quarter of QoQ Improvement in
Slide 21: Focus and Prioritization
EARNINGS UPDATE Focus and Prioritization Product + R&D Go-To-Market Financial + Bring Next Generation + Direct Sales Focus on + Drive durable and High Res Data to Large Customers in Core efficient annual Market Growth Verticals revenue growth + Scale the Earth + Leverage Partners + Achieve Adjusted D
Slide 22: Fiscal 3Q'25 Outlook and FY'25 Drivers
EARNINGS UPDATE Fiscal 3Q’25 Outlook and FY’25 Drivers FY’25 Drivers 3Q’25 ● Large government opportunities Seven-figure pilot programs converting Revenue $61M - $64M ● to large operational contracts ● Partner solutions contribution to YoY Revenue Growth % +10% - 16% revenue mix ● Cost management & s
Slide 23: Appendix
APPENDIX Great Barrier Reef, Australia – July 8, 2016
Slide 24: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin % Three Months Ended July 31, October January April 30, July 31, 2023 31, 2023 31, 2024 2024 2024 GAAP Gross Profit $ 26.3 $ 26.0 $ 32.5 $ 31.7 $ 32.3 (+) Stock-Based Compensation 1.1 0.9 0.8 0.8 0.9 (
Slide 25: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Three Months Ended July 31, 2023 October 31, 2023 January 31, 2024 April 30, 2024 July 31, 2024 Net Loss $ (37,975) $ (38,004) $ (30,086) $ (29,293) $ (38,668) (+) Interest Income (3,802) (3,445) (3,661) (
Slide 26: 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 classified as cost of revenue, restructuring c
Slide 27: 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 Sentinel Hub self-service paying users. For EoP Customer Count, the Company defines existing customers as
Slide 28: 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 29: Media Credits
EARNINGS UPDATE Media Credits Slide 10: ● New York Times, August 10, China’s Great Wall of Villages. Reporting based on analysis of Planet data by RAIC Labs. Slide 15: ● Bloomberg, July 8, Low-Earth Orbit Is Where the Real Action Is in Space ● Reuters, July 8, Exclusive: Satellite photos show Iran e