Planet Labs Q4 2024 Earnings Report
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%.
Planet Labs
Planet Labs
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.
- Macroeconomic factors could impact future government and commercial budgets.