Planet Labs (PL) Misses Q1 EPS by 2c, Revenue Beats, Offers Guidance

Planet Labs (NYSE: PL) reported Q1 EPS of ($0.17), $0.02 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $40.1 million versus the consensus estimate of $39.5 million.

GUIDANCE:

Planet Labs sees Q2 2023 revenue of $41-43 million, versus the consensus of $42 million.

• For the second quarter of fiscal year 2023, Planet expects revenue to be in the range of approximately $41 million to $43 million, representing 38% year-over-year growth at the midpoint. Non-GAAP Gross Margin is expected to be between approximately 44% to 46%. Adjusted EBITDA is expected to be between approximately ($18) million and ($16) million. Capital Expenditure as a Percentage of Revenue is expected to be between approximately 12% and 14% of revenue for the second quarter.

Planet Labs sees FY2023 revenue of $177-187 million, versus the consensus of $181 million.

• For fiscal year 2023, Planet has updated its revenue outlook and expects it to be in the range of approximately $177 million to $187 million. Non-GAAP Gross Margin is expected to be between approximately 47% to 49%. Adjusted EBITDA is expected to be between approximately ($70) million and ($60) million. Capital Expenditure as a Percentage of Revenue is expected to be between approximately 11% to 13% for the full fiscal year 2023.

For earnings history and earnings-related data on Planet Labs (PL) click here.

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