Planet Labs Pbc Stock Price, News & Analysis

Planet Labs PBC (NYSE: PL) has announced its acquisition of Sinergise, a leading developer of Earth Observation (EO) data platforms, aimed at simplifying insights extraction and reducing EO data storage costs. This strategic acquisition, expected to close in Q2 of the fiscal year, enhances Planet's Earth Data Platform by integrating Sinergise's technology, including the Sentinel Hub. The move is projected to expand Planet's market reach across sectors such as agriculture and finance, while reinforcing its commitment to developing the downstream market in Europe. Planet has previously acquired five companies, marking this as its sixth acquisition.

Planet Labs PBC (NYSE: PL) reported record revenue of $191.3 million for full year 2023, up 46% year-over-year, with a fourth quarter revenue increase of 43% to $53 million. Gross margin expanded to 49%, with fourth quarter figures at 55%. The company projects FY 2024 revenue guidance of $248-$268 million, indicating a 35% growth. Planet's customer count rose 15% to 882, and its net dollar retention rate reached 131%. Planet maintains a strong cash position with $408.8 million in liquid assets, providing a solid foundation for future growth.

Planet Labs PBC (NYSE: PL) announced that its subsidiary, Planet Labs Federal, has secured a contract with the National Reconnaissance Office (NRO) under the Strategic Commercial Enhancements program. This contract aims to explore how Planet’s hyperspectral capabilities can enhance the NRO’s national space security framework. The partnership allows the NRO to perform modeling, simulation, and evaluate future capabilities. Planet's hyperspectral payload, developed with NASA JPL, supports a wide spectral range and aims to accelerate the integration of commercial capabilities into governmental operations.

Planet Labs PBC (NYSE:PL) will release its fiscal fourth quarter and full year 2023 financial results for the year ending January 31, 2023, after market close on March 29, 2023. A conference call to discuss these results and future business outlook will occur the same day at 5:00 p.m. ET / 2:00 p.m. PT. Investors can listen via the live webcast on Planet's Investor Relations website, which will also provide an archived version two hours post-event. Planet is recognized for its extensive satellite imagery, servicing over 800 customers across various sectors, capturing over 30 terabytes of data daily.

Planet Labs PBC (NYSE: PL) announced its participation in two upcoming investor conferences. Mike Safyan, Vice President of Launch, will speak at Citi’s 2023 Global Industrial Tech and Mobility Conference in Miami on February 21, 2023, at 3:30 p.m. ET. Donna Prlich, Chief Marketing Officer, will join a Fireside Chat at the JMP Securities Technology Conference in San Francisco on March 6, 2023, at 2:00 p.m. PT. Interested attendees are encouraged to reach out to the conference hosts for registration details.

About Planet: Founded in 2010, Planet operates the largest Earth observation satellite fleet, capturing over 30 TB of data daily, serving over 800 clients worldwide.

Planet Labs PBC (NYSE: PL) has announced a partnership with NASA Harvest to develop a comprehensive Food Security and Agricultural Monitoring Solution. This initiative aims to leverage satellite data and analytics to enhance agricultural assessments and identify potential threats to global food security. Their collaboration will utilize data to create tools that aid national governments and organizations worldwide in decision-making related to agriculture. The partnership builds upon previous successful projects, notably monitoring agricultural impacts in Ukraine during the ongoing conflict.

Planet Labs PBC (NYSE: PL) has completed its acquisition of Salo Sciences, a climate technology company based in San Francisco, as of January 3, 2023. This strategic move aims to enhance Planet's capabilities in carbon stock measurement and forest change monitoring. By integrating Salo's advanced analytics with Planet's daily Earth observation data, the company intends to offer improved climate solutions and support global sustainability goals. This acquisition marks Planet's fifth since its inception.

Planet Labs PBC (NYSE: PL) has announced an upgraded Education and Research (E&R) Program designed to enhance global accessibility to its satellite data. This new structure introduces a tiered pricing system based on country economic context, allowing more universities worldwide to afford satellite data for unique research needs. With over 1,000 universities in more than 100 countries currently participating, the program aims to stimulate innovative research and discoveries.