Planet Labs Earnings Reports

Planet Labs delivered a strong fourth quarter with a 5% year-over-year increase in revenue to $61.6 million. The company achieved record gross margins, reduced its operating losses, and reported its first adjusted EBITDA profit. Key customer wins and product advancements supported growth, while recurring revenue remained a core strength.

Planet Labs reported a 16% year-over-year increase in revenue to $31.7 million for the third quarter of fiscal year 2022. The company's customer count increased by 32% year-over-year, and it is fully capitalized following the receipt of over $590 million in gross proceeds from its NYSE debut.