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Oct 31, 2021
Planet Labs Q3 2021 Earnings Report
Planet Labs reported third quarter of fiscal year 2022 financial results, delivering record third quarter revenue and reaffirming full year revenue outlook.
Key Takeaways
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.
Revenue increased 16% year-over-year to $31.7 million.
Recurring Annual Contract Value (ACV) was 94%, compared to 93% in the third quarter of fiscal year 2021.
End of Period (EoP) Customer Count increased 32% year-over-year to 742 customers.
Gross Margin percentage expanded to 34%, compared to 27% in the third quarter of fiscal year 2021.
Forward Guidance
For the fourth quarter of fiscal 2022, Planet expects revenue to be in the range of approximately $35 million to $37 million and Non-GAAP Gross Margin percentage to be approximately 37% to 39%. Adjusted EBITDA loss is expected to be between approximately ($17) million and ($15) million and capex spend is expected to be between approximately $5 million and $7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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