Planet Labs PBC - PL STOCK NEWS

Planet Labs PBC (NYSE: PL) reported its Q2 FY2025 financial results, highlighting record quarterly revenue of $61.1 million, up 14% year-over-year. The company expanded its GAAP gross margin to 53% and non-GAAP gross margin to 58%. Key highlights include:

- End of Period Customer Count increased 7% YoY to 1,012 customers
- Net loss was $38.7 million, with $10.5 million related to non-recurring charges
- Adjusted EBITDA loss improved to $4.4 million from $14.5 million in Q2 FY2024
- Cash, cash equivalents, and short-term investments totaled $249 million

Planet also launched 36 SuperDove satellites and its first Tanager hyperspectral satellite. The company expects Q3 FY2025 revenue between $61-64 million and aims to achieve Adjusted EBITDA profitability in Q4 FY2025.

Planet Labs PBC (NYSE: PL), a leading provider of daily Earth data and insights, has announced its participation in three upcoming investor events in September 2024:

1. JP Morgan's Sustainable Agriculture panel on September 10th at 11:00 a.m. ET, featuring Ashley Johnson, President and CFO.

2. Morgan Stanley's 12th Annual Laguna Conference on September 11th in Dana Point, California, offering 1x1 investor meetings.

3. Northland Capital Markets' virtual fireside chat on September 16th at 3:15 p.m. ET, with Ashley Johnson participating.

These events provide opportunities for investors to engage with Planet's management and gain insights into the company's operations and strategy. Interested parties should contact the respective event hosts for attendance or meeting arrangements.

Planet Labs PBC (NYSE: PL) has signed a contract with the NATO Communications and Information Agency (NCIA) to support the Alliance Persistent Surveillance from Space (APSS) program. Planet's SkySat high-resolution satellite data will be used to provide imagery for detailed tracking and analysis of foreign military activities, monitoring infrastructure, and assessing threats. This will help create an unclassified common operating picture between allies.

The APSS program, launched in February 2023, aims to enhance NATO's space-based intelligence capabilities and improve data collection and delivery efficiency. This contract highlights Planet's growing presence in the government sector, following recent expansions with other international agencies.

The Carbon Mapper Coalition has successfully launched Tanager-1, its first satellite, into orbit. Developed by Planet Labs (NYSE: PL) with NASA's Jet Propulsion Laboratory technology, Tanager-1 aims to pinpoint methane and CO2 super-emitters globally. This satellite is part of a public-private partnership to drive transparency and action on emissions reduction.

Tanager-1's unique capabilities allow it to detect methane super-emitters that emit >100 kg/hour across fossil fuel, waste, and agriculture sectors. The satellite will provide high-resolution observations to empower industry, policymakers, and civil society to reduce emissions at the source. Carbon Mapper plans to make this data publicly available on its online portal, advancing transparency and accountability in emissions reduction efforts.

Planet Labs PBC (NYSE:PL) has successfully launched its first hyperspectral satellite, Tanager-1, along with 36 SuperDoves into orbit during SpaceX's Transporter-11 Rideshare mission. The launch took place on August 16, 2024, from Vandenberg Space Force Base. Tanager-1, developed in collaboration with NASA's Jet Propulsion Laboratory (JPL) and the Carbon Mapper Coalition, aims to detect and track methane and CO2 super-emitters to support direct mitigation action.

The satellite combines Planet's smallsat bus technology with JPL's advanced imaging spectrometer. Future Tanager imagery will be analyzed for methane and CO2 source detection, while Planet will commercialize the hyperspectral data for various applications. The 36 SuperDoves will contribute to Planet's daily global monitoring mission, providing data for defense, intelligence, civil government, and commercial markets.

Planet Labs PBC (NYSE:PL) is set to launch its first hyperspectral satellite, Tanager-1, along with 36 SuperDoves on SpaceX's Transporter-11 Rideshare mission on August 16, 2024. Tanager-1, part of the Carbon Mapper Coalition, will add over 400 spectral bands of data to Planet's capabilities, enabling detection of phenomena invisible to the human eye. The satellite combines Planet's smallsat technology with NASA JPL's imaging spectrometer design.

The launch will also include 36 SuperDoves contributing to Planet's daily global monitoring mission. Tanager-1's hyperspectral data will be commercially available for applications in defense, intelligence, biodiversity assessments, mineral mapping, and water quality assessments. This launch marks a significant expansion of Planet's Earth observation capabilities and its commitment to making global change visible and actionable.

Planet Labs PBC (NYSE: PL) hosted its 'Planet On The Road' conference in Bogotá, Colombia, showcasing major customers and partners from Central and South America. The event highlighted how satellite data and AI are being used for sustainable development, law enforcement, disaster response, and Amazon forest protection.

Key highlights include:

• Bolivia's INRA using Planet Insights Platform for land management and carbon emissions compliance
• Colombia's IGAC providing access to PlanetScope and Planet Basemaps for efficient land-use planning
• Microsoft's Project Guacamaya using AI and Planet imagery for biodiversity protection
• Brazil's MAIS program leveraging Planet data to combat illegal deforestation, collecting over $3 billion in fines since 2020
• Applications in agriculture, disaster response, and proactive disaster management across Latin America

Planet Labs PBC (NYSE: PL) has announced that the Kingdom of Bahrain is using their SkySat data to enhance urban planning initiatives. In collaboration with Aetosky, Planet has implemented an advanced urban planning system integrating AI-enabled change detection with high-resolution satellite imagery. This system covers 850 sq kilometers and provides biweekly updates on developments, infrastructure changes, and environmental alterations.

The system has increased the effectiveness of building permit validation activities and enables the automatic extraction and analysis of changes across the entire country. This innovative approach supports smart city planning, sustainable development, and efficient resource allocation. The Survey and Land Registration Bureau (SLRB) now serves as a centralized data hub, supporting various government departments in areas such as environmental monitoring, transportation, and municipal response.

Planet Labs PBC (NYSE: PL) has partnered with BeZero Carbon, a global ratings agency for carbon markets, to enhance carbon market risk management. BeZero is utilizing Planet's Forest Carbon Diligence product, which provides global 30-m time series data on tree height, canopy cover, and forest carbon stocks. This data is improving BeZero's methodologies for forest project monitoring.

Planet is set to release its Forest Carbon Monitoring product later this year, offering 3-m resolution satellite-derived forest data at an individual tree level. BeZero has exclusive early access to this product. Additionally, BeZero has integrated Planet's quarterly Basemaps into its ratings platform, enabling side-by-side comparisons of carbon projects dating back to 2016.

This collaboration aims to provide sustainability leaders with data-backed insights for carbon crediting and financing decisions, leveraging Planet's extensive satellite imagery and BeZero's analytics capabilities.