Planet Labs PBC reported a revenue of $66.3 million for the three months ended April 30, 2025, marking a 10% increase from $60.4 million in the same period last year. The company’s gross profit also rose to $36.6 million, up 16% from $31.7 million year-over-year. Despite the revenue growth, Planet Labs recorded a net loss of $12.6 million, a significant improvement compared to a net loss of $29.3 million in the prior year, reflecting a 57% reduction in losses. The company attributed the revenue increase primarily to new customer growth, particularly within the Defense and Intelligence sector, although it faced a net contraction of existing customer contracts.
In terms of operational metrics, Planet Labs reported a decrease in its end-of-period customer count to 919 from 1,031 a year earlier, which the company attributed to a strategic focus on larger customers. The Net Dollar Retention Rate improved to 103%, up from 100% in the previous year, indicating successful expansions with existing customers. The company’s remaining performance obligations stood at $451.9 million as of April 30, 2025, with expectations to recognize approximately 45% of this amount over the next 12 months.
Strategically, Planet Labs has been active in expanding its capabilities and partnerships. In January 2025, the company entered into a multi-year $230 million commercial agreement with SKY Perfect JSAT to build and operate a constellation of ten high-resolution satellites. This agreement is expected to enhance Planet's service offerings and revenue potential. Additionally, the company has continued to invest in its software platform and machine learning capabilities to improve the value of its data for customers.
Financially, Planet Labs reported cash and cash equivalents of $133.5 million as of April 30, 2025, an increase from $118 million at the end of January 2025. The company also noted a significant increase in deferred revenue, which rose to $108.3 million from $82.3 million, indicating strong future revenue potential. Looking ahead, Planet Labs expressed optimism about its growth trajectory, driven by ongoing investments in technology and customer relationships, although it acknowledged the potential impact of macroeconomic conditions on its operations and customer spending.
About Planet Labs PBC
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.