Planet Labs Stock Drops After Q3 Results: Here's Why

Benzinga12-10

Planet Labs PBC (NYSE:PL) reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter.

The Details: Planet Labs reported adjusted losses of two cents per share and third-quarter revenue of $61.26 million, up from $55.38 million from the same period last year.

Percent of Recurring Annual Contract Value (ACV) for the third quarter was 97%.
End of Period (EoP) Customer Count increased 4% year-over-year to 1,015 customers.
Third quarter Non-GAAP Gross Margin was a record 64%, compared to 52% in the third quarter of fiscal year 2024.

Read More: Anthony Scaramucci Compares Trump’s FBI Pick, Kash Patel, To Matt Gaetz

“We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest-ever quarter of ACV bookings, helping lay the foundation for future growth,” said Will Marshall, Planet’s CEO.

“We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data,” Marshall added.

Outlook: Planet Labs expects fourth-quarter revenue in a range of $61 million to $63 million.

PL Price Action: According to Benzinga Pro, Planet Labs shares are down 8.17% after-hours at $3.71 at the time of publication Monday.

Read More:

Robinhood Markets Grows Into ‘Best-In-Class’ Brokerage, Analyst Says

Image: Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490089982?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-10 06:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2490089982","market":"us","top_or_hot":-1,"title":"Planet Labs Stock Drops After Q3 Results: Here's Why","media":"Benzinga","content":"<html><body><p><strong>Planet Labs PBC </strong>(NYSE:PL) reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter. </p>\n<p><strong>The Details: </strong>Planet Labs reported adjusted losses of two cents per share and third-quarter revenue of $61.26 million, up from $55.38 million from the same period last year.</p>\n<ul>\n<li>Percent of Recurring Annual Contract Value (ACV) for the third quarter was 97%. </li>\n<li>End of Period (EoP) Customer Count increased 4% year-over-year to 1,015 customers. </li>\n<li>Third quarter Non-GAAP Gross Margin was a record 64%, compared to 52% in the third quarter of fiscal year 2024.</li>\n</ul>\n<p><strong>Read More: </strong><strong>Anthony Scaramucci Compares Trump’s FBI Pick, Kash Patel, To Matt Gaetz</strong></p>\n<p>“We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest-ever quarter of ACV bookings, helping lay the foundation for future growth,” said<strong> Will Marshall</strong>, Planet’s CEO.</p>\n<p>“We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data,” Marshall added. </p>\n<p><strong>Outlook: </strong>Planet Labs expects fourth-quarter revenue in a range of $61 million to $63 million. </p>\n<p><strong>PL Price Action:</strong> According to Benzinga Pro, Planet Labs shares are down 8.17% after-hours at $3.71 at the time of publication Monday. </p>\n<p><strong>Read More: </strong></p>\n<ul>\n<li><strong><a href=\"https://laohu8.com/S/HOOD\">Robinhood</a> Markets Grows Into ‘Best-In-Class’ Brokerage, Analyst Says</strong></li>\n</ul>\n<p><em>Image: Shutterstock</em></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Planet Labs Stock Drops After Q3 Results: Here's Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPlanet Labs Stock Drops After Q3 Results: Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-10 06:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/space/24/12/42402077/planet-labs-stock-drops-after-q3-results-heres-why><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Planet Labs PBC (NYSE:PL) reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter. \nThe Details: Planet Labs reported adjusted losses of two ...</p>\n\n<a href=\"https://www.benzinga.com/general/space/24/12/42402077/planet-labs-stock-drops-after-q3-results-heres-why\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PL","symbol_name":"Planet  Labs Pbc","start_time":0,"source_url":"https://www.benzinga.com/general/space/24/12/42402077/planet-labs-stock-drops-after-q3-results-heres-why","article_id":"2490089982","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490089982","pubTimestamp":1733782338,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Planet Labs reported its third-quarter results after Monday&#39;s closing bell. Here&#39;s a look at the key figures from the quarter.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PL":"Planet  Labs Pbc","ACV":"Virtus AllianzGI Diversified Income & Convertible Fund","BK4123":"调查和咨询服务"},"translate_title":"Planet Labs股价在第三季度业绩公布后下跌：原因如下","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ACV":1,"PL":0.9},"content_text":"Planet Labs PBC (NYSE:PL) reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter. \nThe Details: Planet Labs reported adjusted losses of two cents per share and third-quarter revenue of $61.26 million, up from $55.38 million from the same period last year.\n\nPercent of Recurring Annual Contract Value (ACV) for the third quarter was 97%. \nEnd of Period (EoP) Customer Count increased 4% year-over-year to 1,015 customers. \nThird quarter Non-GAAP Gross Margin was a record 64%, compared to 52% in the third quarter of fiscal year 2024.\n\nRead More: Anthony Scaramucci Compares Trump’s FBI Pick, Kash Patel, To Matt Gaetz\n“We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest-ever quarter of ACV bookings, helping lay the foundation for future growth,” said Will Marshall, Planet’s CEO.\n“We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data,” Marshall added. \nOutlook: Planet Labs expects fourth-quarter revenue in a range of $61 million to $63 million. \nPL Price Action: According to Benzinga Pro, Planet Labs shares are down 8.17% after-hours at $3.71 at the time of publication Monday. \nRead More: \n\nRobinhood Markets Grows Into ‘Best-In-Class’ Brokerage, Analyst Says\n\nImage: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490089982"}