Report quarterly revenues crown a robust yr
The New York Stock Exchange is named Planet (NYSE: PL) on Wed December 8th to celebrate the listing. To mark the occasion, Will Marshall, Co-Founder and CEO, and Robert Schingler Jr., Co-Founder and Chief Strategy Officer, along with NYSE President Stacey Cunningham, will ring The Opening Bell®.
planet on Wednesday delivered another record sales quarter and neared the high end of its full-year sales guidance.
“The fourth quarter wrapped up an incredible year for Planet. For the full year, we nearly tripled our revenue growth rate,” said Will Marshall, co-founder and CEO of Planet, in a press release.
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The satellite imagery and data analytics company reported an adjusted EBITDA loss for the fourth quarter, up from $16.7 million in the year-ago period to $17.7 million. Net loss narrowed to $37.8 million, or 14 cents a share, from $46 million, or 26 cents. Planet had revenue of $53 million during that period, up 43% from $37.1 million a year earlier.
For the full year, Planet’s revenue was $191.3 million — at the high end of the previously forecast range of $188 million to $192 million.
Planet follows a fiscal year calendar ending on January 31st.
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Planet’s chief financial officer, Ashley Johnson, noted that the company ended the quarter with $408.8 million in cash.
The company also makes its sixth acquisition to date, signing an agreement to acquire Slovenian satellite data analytics platform Sinergise. Financial terms were not disclosed.
Planet said the acquisition of Sinergise, a long-term partner, should improve its access to European markets.
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