Planet Labs PBC - PL STOCK NEWS

Planet Labs PBC (NYSE: PL) has launched a new product named Planetary Variables, offering three data feeds: Soil Water Content, Land Surface Temperature, and Vegetation Biomass Proxy. These feeds aim to assist industries like agriculture and emergency response by providing precise environmental insights. The product results from Planet's recent acquisition of VanderSat, enhancing their data capabilities. The feeds can deliver valuable information unaffected by cloud cover, allowing users to monitor ecological changes effectively.

Planet Labs PBC (NYSE: PL) announced its partnership with Living Wales, a government-backed research initiative, to support European green agricultural policies. By utilizing Planet's extensive satellite data, the project aims to model landscape scenarios and monitor environmental policy impacts. This collaboration helps enhance land policy design in Wales, promoting sustainable agriculture and biodiversity preservation. With over 200 satellites in orbit, Planet provides high-resolution imagery crucial for understanding land-use changes, aiding in climate goal assessments and economic evaluations of landscapes.

Planet Labs PBC (NYSE: PL) has partnered with Amnesty International to combat deforestation in Cambodia’s Prey Lang Wildlife Sanctuary, utilizing Planet’s satellite monitoring capabilities. This sanctuary spans approximately 500,000 hectares and is crucial for biodiversity and local traditions. Amnesty International employs Planet’s high-resolution imaging to track illegal activities, including deforestation and land clearing. This collaboration aims to enhance transparency and advocacy for environmental protection, showcasing the role of technology in safeguarding vital ecosystems.

Planet Labs PBC (NYSE: PL) reported record fourth quarter revenue of $37.1 million, marking a 23% year-over-year increase. Full year revenue reached $131.2 million, a 16% rise from the previous year. The company's gross margin improved significantly to 37% in Q4, compared to 25% in the same period last year. With a customer count of 770 and a strong cash position of $491 million, Planet anticipates continued growth, projecting fiscal year 2023 revenue between $170 million and $190 million.

Planet Labs PBC (NYSE:PL) announced plans to release its fiscal Q4 and full-year 2022 financial results on March 31, 2022, after market close. The management will host a conference call at 5:00 p.m. ET to discuss the results and future business outlook. The call will be available via live internet broadcast and on-demand replay shortly after. Planet, founded by NASA scientists, operates the world’s largest fleet of imaging satellites, delivering over 3 million images daily to more than 700 customers across various industries.

Planet Labs PBC (NYSE: PL) announced that its senior management will present at two upcoming investor conferences. Robert Cardillo will speak at the JMP Securities Technology Conference on March 8, 2022, at 12 PM PT in San Francisco. Robbie Schingler will present at Deutsche Bank’s 30th Annual Media, Internet & Telecom Conference on March 14, 2022, at 9:35 AM ET in Palm Beach, Florida. Planet Labs is a leader in satellite imagery and geospatial solutions, capturing over 3 million images daily for various industries and government agencies.

Planet Labs PBC (NYSE: PL) has announced the launch of its next-generation PlanetScope Monitoring product, now featuring eight spectral bands instead of four. This update aims to provide customers with enriched data for more comprehensive analysis. Enhancements include sharper images and improved calibration for accurate time-series analysis. Customers utilize this high-quality data for various applications, such as environmental monitoring and agricultural assessments. Early access users report successful applications in monitoring coastal conditions and safeguarding human health.

Planet Labs PBC (NYSE: PL) has achieved carbon neutrality for its operations in 2020, as certified by SCS Global Services. This certification encompasses all aspects of its supply chain, validating its commitment to sustainability. Planet's total greenhouse gas emissions were calculated at 3,482 metric tons CO₂e. To offset these emissions, the company purchased high-quality carbon credits through partnerships with various REDD+ projects. Looking ahead, Planet aims to establish a carbon reduction plan and achieve net zero emissions by 2030.

Planet Labs has successfully launched its 4x Flock, comprising 44 SuperDove satellites, using a SpaceX Falcon 9 rocket. The company established contact with all satellites shortly after deployment, maintaining a 100% connection record. These satellites will enhance Planet's fleet of around 200, increasing the total launched to 127 with SpaceX. Planet's technology delivers daily insights into Earth's resources, backed by 1,700 images on average for every land area. The firm aims to leverage its expansive satellite fleet to meet customer needs in various sectors.