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Jan 31, 2025
Planet Labs Q4 2024 Earnings Report
Planet Labs reported record revenue and margins in Q4 2024, achieving its first quarter of adjusted EBITDA profitability.
Key Takeaways
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.
Q4 revenue increased by 5% year-over-year to $61.6 million.
Net loss for the quarter was $35.2 million, impacted by warrant liability changes.
Achieved first-ever adjusted EBITDA profit of $2.4 million.
Percent of recurring ACV remained strong at 97%.
Forward Guidance
For Q1 FY26, Planet expects revenue between $61 million and $63 million, with non-GAAP gross margin of approximately 58% to 60%, and adjusted EBITDA loss of $2 million to $3 million.
Positive Outlook
- Strong expected revenue growth between $61M and $63M for Q1 FY26.
- Non-GAAP gross margin expected to remain solid at 58%-60%.
- Continued expansion of government and commercial contracts.
- Increased focus on AI solutions to drive customer value.
- Line of sight to positive cash flow within the next 24 months.
Challenges Ahead
- Anticipated adjusted EBITDA loss between $2M and $3M for Q1 FY26.
- Capital expenditures expected between $11M and $16M for Q1 FY26.
- Ongoing investments impacting near-term profitability.
- Warrant liability changes could continue to affect net income volatility.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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