Planet Labs PBC Reports FY2024 Q3 Earnings Results for October 31 2023, on December 7
December 17, 2023
🌥️Earnings Overview
On December 7, 2023, PLANET LABS PBC ($NYSE:PL) announced their financial results for FY2024 Q3, which ended on October 31, 2023. The company reported total revenue of USD 55.4 million in Q3, an increase of 11.4% from the same period last year. Meanwhile, net income decreased from -40.2 million in FY2023 Q3 to -38.0 million in FY2024 Q3.
Market Price
On Thursday, December 7, PLANET LABS PBC released its financial earnings report for the fiscal year 2024 3rd quarter, which ended on October 31 2023. The stock opened at $2.6 and closed at the same price, a 0.8% decrease from its prior closing price of $2.6. The losses were attributed to increased spending in research and development, as well as a lack of new product launches. Despite the slight decline in stock price, investors were still relatively pleased with the results as the company is still on track to reach its full-year 2024 financial goals.
In addition, the company remains optimistic that its investments in research and development will pay off in future quarters, allowing for further growth and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PL. More…
| Total Revenues | Net Income | Net Margin |
| 214.82 | -148.26 | -74.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PL. More…
| Operations | Investing | Financing |
| -58.69 | -28.82 | 1.13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PL. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 713.52 | 179.92 | 1.87 |
Key Ratios Snapshot
Some of the financial key ratios for PL are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.9% | – | -80.9% |
| FCF Margin | ROE | ROA |
| -43.3% | -20.2% | -15.2% |
Analysis
At GoodWhale, we provide fundamental analysis of companies. Recently, we conducted an analysis of PLANET LABS PBC’s fundamentals. Considering this information, investors who are interested in high-risk investments may be interested in PLANET LABS PBC. The company has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it may be able to sustain future operations in times of crisis. Though PLANET LABS PBC is strong in asset and growth, it is weak in dividend and profitability. More…
Peers
In the market for small satellites, four companies have come to the forefront: Planet Labs PBC, Anacomp Inc, Zeuus Inc, and Spire Global Inc. All four companies have their own strengths and weaknesses, but Planet Labs has become the leader in the market.
– Anacomp Inc ($OTCPK:ANMP)
Anacomp Inc is a publicly traded company with a market capitalization of $3.74 million as of 2022. The company has a return on equity of 55.96%. Anacomp is a provider of information management and business process outsourcing solutions. The company offers a range of services, including document management, data entry, and document imaging.
– Zeuus Inc ($OTCPK:ZUUS)
Zeuus Inc is a publicly traded company with a market capitalization of $627.78 million as of January 2022. The company has a return on equity of 1191.01%. Zeuus Inc is a provider of online marketing and advertising solutions. The company offers a suite of tools and services that help businesses reach their customers online. Zeuus Inc is headquartered in New York, NY.
– Spire Global Inc ($NYSE:SPIR)
Spire Global Inc is a data and analytics company that uses a network of satellites to collect data about maritime, aviation, and weather patterns. The company has a market cap of 208.44M as of 2022 and a Return on Equity of -7.96%. The company’s main competitors are Orbcomm, Inmarsat, and Iridium.
Summary
Planet Labs PBC reported their 3rd quarter earnings results for fiscal year 2024, showing a total revenue of USD 55.4 million and a net income of -38.0 million. The revenue figure represents an 11.4% increase compared to the prior year, while net income decreased from -40.2 million in the previous year. For investors, these numbers represent a slight improvement in the company’s financial performance, although the net income figure still remains in negative territory. As such, investors should consider conducting further research to gain a better understanding of the company’s long-term prospects before making any investments.
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