Planet Labs PBC (NYSE:PL) Q2 2023 Earnings Conference Call September 12, 2022 5:00 PM ET Company Participants Chris Genualdi - Vice President of Investor Relations Will Marshall - Co-Founder and Chief Executive Officer Ashley Fieglein Johnson - Chief Financial and Operating Officer Conference Call Participants Noah Poponak - Goldman Sachs Jeff Van Rhee - Craig-Hallum Ryan Koontz - Needham & Company Josh Sullivan - The Benchmark Company Colin Canfield - Barclays Operator Good afternoon. Thank you for attendi ...

RED SEA • Saudi Arabia FISCAL 2Q'23 UPDATE September 12, 2022 Disclaimers Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company's ability to capture market opportunity; whether and when the Company will be able to execute on its growth initiatives; whether t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Planet Labs PBC | (Exact name of registrant as specified in its charter) | | --- | | Delaware | 85-4299396 | | --- | --- | | (State or other jurisdiction of incorporation or | (I.R.S. Employer Identification No.) | | organization) | | | 645 Harrison Street, Floor 4, San Francisco, | | | California | 94107 | | (Address of principal executive offices) | (Zip Code) | | (415) 829-3313 | | | Registrant' ...

FISCAL 1Q'23 UPDATE JUNE 14, 2022 COLUMBIA GLACIER • Alaska, USA • August 13, 2021 planet. Disclaimers Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company's ability to capture market opportunity; whether and when the Company will be able to execute on its ...

Financial Data and Key Metrics Changes - The company achieved $40.1 million in revenue for Q1 2023, representing a 26% year-over-year growth, indicating continued acceleration of the top line [13][35] - Non-GAAP gross margins expanded to 45%, up from 41% a year ago, reflecting a significant improvement towards SaaS-like margins [13][39] - The adjusted EBITDA loss was $16.3 million for the quarter, consistent with guidance [40] Business Line Data and Key Metrics Changes - The end-of-period customer count grew to 826, representing a 23% year-over-year increase, showcasing a diverse customer base across various industries [36] - The net dollar retention rate was 105%, indicating strong customer retention and expansion, excluding the recent EOCL contract [37] Market Data and Key Metrics Changes - The company noted significant demand for its data across government and commercial markets, particularly in agriculture and defense sectors, driven by global events and sustainability concerns [14][15] - The EOCL contract award significantly increased revenue visibility, almost doubling the backlog of contracted revenue [18][43] Company Strategy and Development Direction - The company is focused on expanding its data subscription business to address critical challenges related to climate change and geopolitical security [15][31] - Recent partnerships, such as with Bayer and Moody's, aim to enhance sustainable agriculture and ESG risk assessment capabilities [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for their data solutions, with expectations for continued momentum throughout fiscal 2023 [34][49] - The EOCL contract is seen as a landmark award that enhances long-term revenue visibility and reflects the government's commitment to commercial remote sensing [20][49] Other Important Information - The company plans to host an Investor Day on October 12, 2022, to provide further insights into its strategies and performance [48] - The remaining performance obligations were over $152 million, with approximately 71% applicable to the next 12 months [42] Q&A Session Summary Question: How should investors think about the EOCL award relative to your trailing revenue for this customer set? - Management indicated that the EOCL award was at the higher end of expectations and represents a meaningful expansion, but specifics on customer revenue are typically not disclosed [52] Question: Any color on your go-to-market expansion activities? - Management highlighted investments in sales teams globally, focusing on outbound marketing to complement inbound demand, with hiring on track to meet targets [53] Question: Can you quantify the dollar value growth year-over-year in the pipeline? - Management did not provide specific dollar values but noted strong upward trends across all geographies [55] Question: Is the sales cycle shrinking outside of the Ukraine influence? - Management confirmed that the sales cycle is indeed shrinking, with more customers starting and closing deals within the same quarter [62] Question: What are the paths to expanding the EOCL contract beyond firm commitments? - Management noted that the NRO has flexibility to add packages and options, which could lead to significant future expansions of the contract [94]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the three months ended April 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number 001-40166 Planet Labs PBC | (Exact name of registrant as specified in its charter) | ...

Part I [Business](index=6&type=section&id=Item%201.%20Business) Planet Labs PBC operates the largest Earth observation satellite fleet, providing daily global imaging data and analytics through a cloud-native subscription service - Planet's mission is to image the entire Earth's landmass daily using its fleet of approximately **200 satellites**, the largest in history, to make global change visible and actionable[16](index=16&type=chunk)[17](index=17&type=chunk) - The company generates revenue primarily through fixed-price subscription and usage-based licenses for its data and analytics, delivered via a cloud-based platform, allowing each captured image to be sold multiple times[21](index=21&type=chunk) - Planet operates as a Delaware public benefit corporation, aligning its business model with its mission to accelerate humanity toward a more sustainable, secure, and prosperous world[22](index=22&type=chunk)[85](index=85&type=chunk) Fiscal Year 2022 Key Metrics | Metric | Value | | :--- | :--- | | Revenue | **$131.2 million** | | Satellites in Orbit | Approximately **200** | | Customer Count | Over **700** | [Industry Overview](index=7&type=section&id=Item%201.%20Business-Industry%20Overview) The Earth Observation industry is shifting to commercial, product-driven data platforms, driven by lower launch costs and technological innovation - The Earth Observation market is projected to grow from approximately **$5.5 billion** in 2019 to an estimated **$19 billion** in 2027, driven by lower launch costs and technological innovation[25](index=25&type=chunk) - Two key global trends are fueling demand for Earth observation data: the digital transformation of the economy (leveraging data and AI) and the sustainability transformation (focusing on ESG goals and environmental impact)[24](index=24&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) [Our Operations](index=9&type=section&id=Item%201.%20Business-Our%20Operations) Planet's operations encompass its satellite fleet, global sales, multi-channel marketing, and continuous R&D in software and agile space missions - The company's global sales organization operates directly and through a network of over **250 partners** across **72 countries**, focusing on acquiring new customers, expanding existing relationships, and ensuring contract renewals[39](index=39&type=chunk)[40](index=40&type=chunk) - R&D efforts are focused on software (AI, machine learning) and agile space missions, including advancing spacecraft technologies and automated operations for its satellite fleet and ground stations[44](index=44&type=chunk) - Planet partners with the non-profit Carbon Mapper to build and launch advanced hyperspectral satellites for identifying and tracking methane and CO2 emissions[48](index=48&type=chunk) [Our Technology Platform](index=10&type=section&id=Item%201.%20Business-Our%20Technology%20Platform) Planet's platform uses agile aerospace for rapid satellite deployment, building a vast proprietary data archive accessible via diverse data solutions and analytics - The company pioneers "agile aerospace," applying agile software principles to rapidly develop and deploy compact, powerful satellites at a lower cost than traditional methods[50](index=50&type=chunk) - Planet collects over **30 terabytes** of Earth data daily, contributing to a deep historical archive used for training AI models and providing unique insights[54](index=54&type=chunk) Proprietary Data Solutions | Solution | Description | | :--- | :--- | | **Planet Monitoring** | Daily imaging of the entire Earth's landmass at up to 3.5m resolution | | **Planet Tasking** | High-resolution (up to 50cm) rapid revisit capability, capturing a location up to ten times per day | | **Planet Archive** | Historical data dating back to 2009, with daily global scans since 2017 | [Our Growth Strategy](index=13&type=section&id=Item%201.%20Business-Our%20Growth%20Strategy) Planet's growth strategy focuses on scaling existing verticals, expanding into new markets, investing in data products, building a partner ecosystem, and strategic acquisitions - Scaling in existing verticals by investing in sales, marketing, and software solutions for civil government, agriculture, defense & intelligence, and mapping[72](index=72&type=chunk) - Expanding into new verticals like energy, finance, and insurance by making data more accessible to non-geospatial experts and partnering with independent software vendors[73](index=73&type=chunk) - Continuing strategic acquisitions to complement existing offerings, following past acquisitions of BlackBridge, Terra Bella, Boundless Spatial, and VanderSat[77](index=77&type=chunk) [Our Competition](index=14&type=section&id=Item%201.%20Business-Our%20Competition) Planet competes with both incumbent and next-generation satellite imagery providers, as well as data analytics platforms, some of which are also partners - Competitors in satellite imagery are divided between incumbents (e.g., Airbus, Maxar) with few high-cost satellites and next-generation players (e.g., BlackSky, Satellogic) with smaller, lower-cost satellites[79](index=79&type=chunk)[80](index=80&type=chunk) - The company also competes with data analytics platforms such as Orbital Insights and Descartes Labs, which use geospatial data from various sources, with Planet partnering with some of these companies to provide data for their platforms[81](index=81&type=chunk)[82](index=82&type=chunk) [Risk Factors](index=17&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from its limited operating history, net losses, market adoption uncertainty, operational failures, cyber-attacks, intense competition, and capital needs - The company has a limited operating history at its current scale and a history of operating losses (**$137.1 million** in FY2022), making future results difficult to predict and profitability uncertain[108](index=108&type=chunk)[110](index=110&type=chunk) - Market adoption for Planet's unique daily scan data is not guaranteed; if the market fails to grow as expected or customers do not adopt the platform, the business could be harmed[112](index=112&type=chunk)[113](index=113&type=chunk) - Significant operational risks include satellite failures, launch delays or failures, cyber-attacks on infrastructure and data, and potential interruptions from weather or other external factors[123](index=123&type=chunk)[134](index=134&type=chunk)[140](index=140&type=chunk) - The business is capital-intensive and may require additional financing for its strategies, which may not be available on favorable terms[179](index=179&type=chunk) - The multi-class stock structure concentrates over **63%** of voting power with the two co-founders, limiting other investors' ability to influence major corporate transactions[232](index=232&type=chunk) [Properties](index=52&type=section&id=Item%202.%20Properties) Planet's corporate headquarters, including satellite manufacturing and R&D, is a 65,000 sq. ft. leased facility in San Francisco, with additional leased offices in Europe and D.C - The corporate headquarters is a ~**65,000 sq. ft.** leased facility in San Francisco, CA, which houses satellite manufacturing, testing, and R&D[283](index=283&type=chunk) - European offices are located in Berlin, Germany and Haarlem, Netherlands, while a Washington, D.C. office serves as the headquarters for Planet Federal[283](index=283&type=chunk) [Legal Proceedings](index=52&type=section&id=Item%203.%20Legal%20Proceedings) The company is not a party to any material legal proceedings, though it is involved in ordinary course litigation not expected to have a material adverse impact - The company is not currently a party to any material legal proceedings[285](index=285&type=chunk) [Mine Safety Disclosures](index=52&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[286](index=286&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=53&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Planet's Class A common stock and warrants are listed on the NYSE, with no cash dividends paid or anticipated, as earnings are retained for business growth - Class A common stock and warrants are listed on the New York Stock Exchange under the symbols "PL" and "PL WS," respectively[287](index=287&type=chunk) - The company has never declared or paid cash dividends and does not intend to in the foreseeable future, retaining funds for business development and growth[289](index=289&type=chunk) - On December 13, 2021, the company issued **1,900,739 shares** of Class A common stock as part of the acquisition of VanderSat in an unregistered sale[295](index=295&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=55&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In FY2022, revenue grew **16%** to **$131.2 million**, gross profit improved, but net loss widened to **$137.1 million** due to increased operating expenses post-Business Combination [Key Operational and Business Metrics](index=59&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations-Key%20Operational%20and%20Business%20Metrics) For FY2022, Planet reported a Net Dollar Retention Rate of **108%**, **770** customers, and **92%** recurring ACV, with capital expenditures decreasing to **11%** of revenue Key Metrics Comparison (Year Ended January 31) | Metric | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net Dollar Retention Rate | **108%** | 113% | 102% | | Net Dollar Retention Rate including Winbacks | **116%** | 117% | 103% | | EoP Customer Count | **770** | 618 | 442 | | % Recurring ACV | **92%** | 92% | 88% | | Capital Expenditures as % of Revenue | **11%** | 27% | 25% | [Results of Operations](index=64&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations-Results%20of%20Operations) In FY2022, revenue increased **16%** to **$131.2 million**, gross profit improved, but net loss grew to **$137.1 million** due to a **56%** rise in operating expenses Consolidated Results of Operations (FY2022 vs. FY2021) | (in thousands) | FY 2022 | FY 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | **$131,209** | $113,168 | $18,041 | **16%** | | Gross profit | **$48,222** | $25,785 | $22,437 | **87%** | | Loss from operations | (**$128,051**) | ($87,442) | ($40,609) | **46%** | | Net loss | (**$137,124**) | ($127,103) | ($10,021) | **8%** | Consolidated Results of Operations (FY2021 vs. FY2020) | (in thousands) | FY 2021 | FY 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $113,168 | $95,736 | $17,432 | **18%** | | Gross profit (loss) | $25,785 | ($6,657) | $32,442 | (**487%**) | | Loss from operations | ($87,442) | ($106,460) | $19,018 | (**18%**) | | Net loss | ($127,103) | ($123,714) | ($3,389) | **3%** | [Liquidity and Capital Resources](index=70&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations-Liquidity%20and%20Capital%20Resources) As of January 31, 2022, Planet had **$490.8 million** in cash, primarily from the Business Combination, and believes it has sufficient liquidity for the next twelve months Cash and Cash Equivalents | Date | Amount (in millions) | | :--- | :--- | | January 31, 2022 | **$490.8** | | January 31, 2021 | $71.2 | Summary of Cash Flows (Year Ended January 31) | (in thousands) | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net cash used in Operating activities | (**$42,211**) | ($4,027) | ($33,687) | | Net cash used in Investing activities | (**$25,149**) | ($30,800) | ($27,172) | | Net cash provided by Financing activities | **$489,184** | $83,940 | $8,728 | - As of January 31, 2022, the company had total principal commitments of **$194.8 million**, with the largest portion (**$180.9 million**) related to a non-cancelable hosting service agreement with Google through January 2028[394](index=394&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=79&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Planet faces foreign currency risk (**20%** of FY2022 revenue in foreign currencies), but interest rate risk is minimal, and inflation has not materially affected operations - Approximately **20%** of revenue for the fiscal year ended January 31, 2022, was in foreign currencies, primarily the Euro and Norwegian Krone, exposing the company to foreign currency exchange risk[457](index=457&type=chunk) - Interest rate risk is low as the company had no borrowings as of January 31, 2022, and its cash and cash equivalents are held in depository accounts not significantly affected by interest rate changes[459](index=459&type=chunk) - The company does not believe inflation has had a material effect on its business but notes that an inability to offset higher costs through price increases could harm future results[461](index=461&type=chunk) [Financial Statements](index=80&type=section&id=Item%208.%20Financial%20Statements) This section presents the company's audited consolidated financial statements for FY2022, FY2021, and FY2020, with accompanying notes and an unqualified auditor's opinion [Consolidated Balance Sheets](index=82&type=section&id=Item%208.%20Financial%20Statements-Consolidated%20Balance%20Sheets) As of January 31, 2022, total assets significantly increased to **$821.4 million**, driven by a rise in cash to **$490.8 million** from the Business Combination Consolidated Balance Sheet Summary (in thousands) | | Jan 31, 2022 | Jan 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | **$490,762** | $71,183 | | Total current assets | **$551,520** | $125,427 | | Property and equipment, net | **$133,280** | $159,855 | | **Total assets** | **$821,441** | $399,308 | | **Liabilities and Stockholders' Equity** | | | | Total current liabilities | **$132,041** | $108,814 | | Total liabilities | **$173,196** | $291,797 | | Total stockholders' equity | **$648,245** | $107,511 | | **Total liabilities and stockholders' equity** | **$821,441** | $399,308 | [Consolidated Statements of Operations and Comprehensive Loss](index=83&type=section&id=Item%208.%20Financial%20Statements-Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For FY2022, revenue was **$131.2 million**, gross profit improved, but increased operating expenses led to a **$137.1 million** net loss Consolidated Statement of Operations Summary (in thousands, except per share data) | | FY 2022 | FY 2021 | FY 2020 | | :--- | :--- | :--- | :--- | | Revenue | **$131,209** | $113,168 | $95,736 | | Gross profit (loss) | **$48,222** | $25,785 | ($6,657) | | Loss from operations | (**$128,051**) | ($87,442) | ($106,460) | | Net loss | (**$137,124**) | ($127,103) | ($123,714) | | Basic and diluted net loss per share | (**$1.72**) | ($2.87) | ($2.89) | [Notes to Consolidated Financial Statements](index=87&type=section&id=Item%208.%20Financial%20Statements-Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies, the reverse recapitalization of the Business Combination, revenue recognition, acquisitions, debt, equity, and related-party transactions - The Business Combination with dMY IV was accounted for as a reverse recapitalization, with Former Planet as the accounting acquirer, resulting in **$533.2 million** in net proceeds[481](index=481&type=chunk)[485](index=485&type=chunk) - In February 2021, the company changed its accounting estimate for the useful life of certain satellites from **6 to 9 years**, resulting in a **$17.6 million** net decrease in depreciation expense for fiscal year 2022[510](index=510&type=chunk)[512](index=512&type=chunk) - As of January 31, 2022, the company had remaining performance obligations of **$153.4 million**, with approximately **72%** expected to be recognized as revenue over the next **12 months**[592](index=592&type=chunk) - The company has a significant relationship with Google, a >**10%** shareholder, recognizing **$8.6 million** in revenue from Google and incurring **$19.4 million** in hosting expenses to Google in FY2022[686](index=686&type=chunk)[688](index=688&type=chunk)[689](index=689&type=chunk) [Controls and Procedures](index=131&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of January 31, 2022, and prior material weaknesses from the SPAC were remediated post-Business Combination - Management concluded that as of January 31, 2022, the company's disclosure controls and procedures were effective[722](index=722&type=chunk) - Material weaknesses in internal controls identified by the predecessor SPAC (dMY IV) were determined to be remediated and no longer existed as of January 31, 2022, following the Business Combination[724](index=724&type=chunk)[725](index=725&type=chunk) - The company is not yet required to provide a management report or auditor attestation on internal control over financial reporting due to its status as a newly public and emerging growth company[723](index=723&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=132&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) This section lists Planet's directors and executive officers, detailing the board's three standing committees and adopted code of business conduct Key Directors and Executive Officers | Name | Position | | :--- | :--- | | William Marshall | Chairperson, Co-Founder and CEO | | Robert Schingler, Jr. | Director, Co-Founder and Chief Strategy Officer | | Ashley Johnson | Chief Financial and Operating Officer | | Kevin Weil | President, Product & Business | | Carl Bass | Director | | Ita Brennan | Director | - The Board of Directors has three standing committees: an Audit Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee[747](index=747&type=chunk) - The company has adopted a code of business conduct and ethics applicable to all directors, officers, and employees[745](index=745&type=chunk) [Executive Compensation](index=136&type=section&id=Item%2011.%20Executive%20Compensation) This section details FY2022 executive compensation, including base salary, bonuses, and significant stock and option awards, with a new policy for non-employee directors FY 2022 Summary Compensation Table | Name and Principal Position | Salary ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive Plan Comp. ($) | Total ($) | | :--- | :--- | :--- | :--- | :--- | :--- | | William Marshall, CEO | **275,000** | **4,050,217** | **6,328,801** | **200,000** | **10,863,643** | | Ashley Johnson, CFO & COO | **367,500** | **2,004,346** | **3,214,726** | **185,000** | **5,798,319** | | Kevin Weil, President, Product & Business | **49,545** | **12,361,690** | **6,339,338** | — | **18,751,976** | - Executive compensation includes earn-out shares contingent on achieving specific stock price milestones post-Business Combination, which are accounted for as stock-based compensation[759](index=759&type=chunk)[773](index=773&type=chunk) - The company adopted a new Outside Director Compensation Policy in connection with the Business Combination, effective for the fiscal year ending January 31, 2023, which includes annual cash retainers and equity awards[791](index=791&type=chunk) [Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters](index=144&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owner%20and%20Management%20and%20Related%20Stockholder%20Matters) Significant beneficial owners include Google LLC and Draper Fisher Jurvetson, while co-founders Marshall and Schingler retain significant voting control via Class B stock Security Ownership of 5% Holders (as of April 7, 2022) | Name of Beneficial Owner | Class A Shares | % of Class A | Class B Shares | % of Class B | | :--- | :--- | :--- | :--- | :--- | | Google LLC | **31,942,641** | **12.95%** | — | — | | Entities affiliated with Draper Fisher Jurvetson | **23,474,504** | **9.52%** | — | — | | William Marshall | **13,661,703** | **5.25%** | **10,578,793** | **50.0%** | | Robert Schingler, Jr. | **11,413,653** | **4.42%** | **10,578,793** | **50.0%** | - All directors and executive officers as a group beneficially own **9.95%** of Class A common stock and **100%** of the high-vote Class B common stock[799](index=799&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=147&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) All directors are independent except for the CEO and CSO; significant related-party transactions with Google include content license revenue and substantial hosting service commitments - The board has determined that all directors are independent under NYSE and SEC rules, with the exception of CEO William Marshall and CSO Robert Schingler, Jr[808](index=808&type=chunk) - Planet has a significant commercial relationship with Google, a major shareholder, including a Content License Agreement (revenue for Planet) and a Google Cloud Platform License Agreement (expense for Planet)[811](index=811&type=chunk) - Under its agreement with Google for cloud services, Planet has aggregate purchase commitments of **$193 million** from August 1, 2021, through January 31, 2028[811](index=811&type=chunk) [Principal Accounting Fees and Services](index=149&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) This section details fees billed by Ernst & Young LLP for FY2022 and FY2021, categorized into Audit, Audit-Related, and Tax fees, under an audit committee pre-approval policy Accounting Fees Paid to Ernst & Young LLP | Fee Category | Fiscal Year 2022 | Fiscal Year 2021 | | :--- | :--- | :--- | | Audit fees | **$2,300,000** | $3,359,845 | | Audit-related fees | **$257,900** | — | | Tax fees | **$871,987** | $357,800 | | All other fees | — | — | | **Total fees** | **$3,429,887** | $3,717,645 | Part IV [Exhibits, Financial Statement Schedules](index=150&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the Form 10-K, including corporate governance documents and material contracts - This section provides an index of all financial statements and exhibits filed with the Form 10-K[826](index=826&type=chunk)[828](index=828&type=chunk) [Form 10-K Summary](index=153&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable - None[833](index=833&type=chunk)

Planet Labs PBC (NYSE:PL) Q4 2022 Earnings Conference Call March 31, 2022 5:00 PM ET Company Participants Chris Genualdi - VP, IR Will Marshall - Co-Founder, CEO and Chairperson Ashley Fieglein Johnson - Chief Financial and Operating Officer Conference Call Participants Weston Twigg - Piper Sandler Ryan Koontz - Needham & Co. Mike Latimore - Northland Noah Poponak - Goldman Sachs Jeff Van Rhee - Craig-Hallum Caleb Henry - Quilty Analytics John Katsingris - Wedbush Operator Good evening. My name is Selina an ...

FISCAL 4Q'22 & FY'22 UPDATE MARCH 31, 2022 planet. Disclaimers Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the ability of Planet Labs PBC (the "Company") to capture market opportunity; whether and when the Company will be able to execute on its growth initiati ...

Business Combination and Listing - Planet completed its business combination with dMY Technology Group IV and listed on the NYSE, raising over $590 million in gross proceeds[6, 21] - The SPAC trust contributed $338 million, complemented by a $252 million upsized PIPE, with less than 2% redemption from SPAC cash in trust[6] Financial Performance - Planet reported Q3 FY2022 revenue of $31.7 million[20] - The company reiterated its full-year outlook of approximately $130 million for FY2022[20] - Recurring Annual Contract Value (ACV) represents 94% of revenue, derived from predictable subscription and usage-based models[26] - The company achieved sales pipeline growth of +46% year-over-year for the third quarter of FY22[26] - The company's Non-GAAP Gross Margin % increased from (6%) in FY20 to 37% in YTD Q3 FY22, a 43 percentage point expansion[31, 38] Growth and Strategy - Planet is positioned at the center of two multi-trillion dollar global economic shifts: Digital Transformation ($100 trillion cumulative value by 2025) and Sustainability Transformation ($53 trillion global ESG assets by 2025)[12] - The company is expanding into "Planetary Variables" to make Earth data more accessible[13, 14] - Planet is investing in Sales & Marketing and Software Engineering to scale in established verticals and expand into new markets, with M&A as a potential accelerant[35] - The company's Expected FY2022 Net Dollar Retention Rate (NDRR) including Winbacks is +110%[29]