NicoElNino Investment Overview My overall take for Planet Labs (NYSE:PL) is a buy rating, as I expect growth to reaccelerate and valuation to rerate higher. Using consensus estimates, I have a price target of $3.31 for PL. The core assumption I made is that the growth runway for PL is long, supported by strong secular tailwinds in the agriculture and defense industries. While growth has slowed in the near term, I believe it was mainly due to the weak macro environment. As we go into CY2024, where the econom ...

Financial Data and Key Metrics Changes - The company generated a record revenue of $55.4 million for Q3 2024, representing an 11% year-on-year growth [8][21] - Non-GAAP gross margin was 51.5%, above the midpoint of the expected range [8][21] - Adjusted EBITDA loss for the quarter was $12 million, which was $1 million better than guidance [8][40] Business Line Data and Key Metrics Changes - Growth was driven by the Civil Government and Defense and Intelligence markets, both of which saw revenue increase by more than 20% year-over-year [9][21] - The commercial sector continued to face macro headwinds, impacting overall growth [9][21] Market Data and Key Metrics Changes - EMEA revenue growth was particularly strong, up almost 70% year-over-year, while revenue in Asia Pacific and Latin America grew more than 20% year-over-year [57] - North American revenue decreased by 11% year-over-year, primarily due to the discontinuation of a legacy contract [57] Company Strategy and Development Direction - The company is focusing on large government opportunities as a primary growth driver and is well-positioned to expand its work with U.S. government entities [11][43] - Go-to-market improvements include focusing sales efforts on large opportunities, shifting smaller commercial opportunities through partner networks, and streamlining sales processes [10][43] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the market opportunities in the commercial sector despite current macroeconomic headwinds [30][96] - The company is committed to reaching adjusted EBITDA profitability by Q4 of the next fiscal year [8][40] Other Important Information - The company ended the quarter with $315 million in cash and equivalents, providing sufficient capital for growth initiatives without needing to raise additional capital [41] - Capital expenditures for the quarter were $8.6 million, approximately 16% of revenue [23] Q&A Session Questions and Answers Question: Discussion on go-to-market strategy and large contracts - Management confirmed there are multiple eight-figure deals, primarily in defense and intelligence, with significant opportunities in the U.S. and globally [64] Question: Revenue per customer trends - Management indicated that the increase in customer count through the Sentinel Hub platform may have impacted average revenue per customer, but this is consistent with the onboarding of new customers [50] Question: Geographic revenue growth - EMEA showed strong growth, while North America faced challenges due to legacy contract discontinuation [57] Question: Future growth in the commercial market - Management believes the commercial market will eventually reaccelerate, driven by AI and partner-led opportunities [110] Question: Impact of the Pelican satellite on revenue - The Pelican satellite is expected to enhance capabilities, allowing for higher resolution and lower latency, which could lead to increased pricing [48][49]

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 quarterly period ended October 31, 2023 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 chart ...

Planet Labs PBC (NYSE:PL) Q2 2024 Earnings Conference Call September 7, 2023 5:00 PM ET Company Participants Chris Genualdi - Vice President of Investor Relations Will Marshall - Chief Executive Officer, Chairperson and Co-Founder Ashley Fieglein Johnson - Chief Financial and Operating Officer Conference Call Participants Michael Latimore - Northland Jason Gursky - Citigroup Trevor Walsh - JMP Securities Jeff Van Rhee - Craig-Hallum Ryan Koontz - Needham & Company Greg Mesniaeff - WestPark Capital Operator ...

FISCAL 2Q'24 UPDATE September 7, 2023 WOMEN'S WORLD CUP • SYDNEY, AUSTRALIA July 10, 2023 • 50cm SkySat planet. Disclaimers Forward-looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the future financial or operating performance of Planet Labs PBC ("Planet," the "Company," "we," " ...

[Part I - Financial Information](index=6&type=section&id=Part%20I.%20-%20Financial%20Information) [Financial Statements (unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Presents unaudited condensed consolidated financial statements for Planet Labs PBC as of July 31, 2023, covering balance sheets, operations, and cash flows [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $720.4 million by July 31, 2023, primarily due to reduced cash and equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | July 31, 2023 | January 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $118,808 | $181,892 | | Short-term investments | $248,979 | $226,868 | | Total current assets | $427,861 | $475,655 | | Total assets | $720,417 | $752,723 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $116,259 | $122,257 | | Total liabilities | $180,849 | $176,619 | | Total stockholders' equity | $539,568 | $576,104 | | Total liabilities and stockholders' equity | $720,417 | $752,723 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenue grew 11% in Q2 to $53.8 million and 20% in H1 to $106.5 million, with net losses narrowing Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 FY24 (Three Months Ended Jul 31, 2023) | Q2 FY23 (Three Months Ended Jul 31, 2022) | H1 FY24 (Six Months Ended Jul 31, 2023) | H1 FY23 (Six Months Ended Jul 31, 2022) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $53,761 | $48,450 | $106,464 | $88,577 | | Gross Profit | $26,292 | $23,473 | $54,439 | $39,972 | | Loss from Operations | ($43,280) | ($42,640) | ($87,972) | ($90,354) | | Net Loss | ($37,975) | ($39,529) | ($72,419) | ($83,889) | | Net Loss Per Share | ($0.14) | ($0.15) | ($0.26) | ($0.32) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to $21.0 million in H1, with overall cash decreasing by $63.6 million Cash Flow Summary (in thousands) | Activity | Six Months Ended July 31, 2023 | Six Months Ended July 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($21,004) | ($28,804) | | Net cash used in investing activities | ($44,302) | ($203,186) | | Net cash provided by financing activities | $1,590 | $4,050 | | Net decrease in cash | ($63,561) | ($229,058) | | Cash at end of period | $124,515 | $267,756 | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed disclosures supporting financial statements, covering accounting policies, balance sheet components, and subsequent events - As of July 31, 2023, the company had remaining performance obligations of **$153.9 million**, with approximately **74%** expected to be recognized as revenue over the next 12 months[45](index=45&type=chunk) - One customer accounted for **23%** of revenue for the three months and **22%** for the six months ended July 31, 2023[40](index=40&type=chunk) - In April 2023, a change in estimated useful lives of satellites resulted in a **$2.1 million** increase in depreciation expense for the quarter[74](index=74&type=chunk) - Subsequent to quarter end, on August 4, 2023, the company acquired Sinergise's business for approximately **$22.4 million** in cash and **6.75 million shares** of Class A common stock[119](index=119&type=chunk)[120](index=120&type=chunk) - On August 1, 2023, the company announced a headcount reduction of approximately **10%** of its workforce, expecting to incur **$7 million to $8 million** in pre-tax charges[122](index=122&type=chunk)[123](index=123&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance for Q2 and H1 FY2024, highlighting revenue growth, operational metrics, and liquidity [Business and Overview](index=28&type=section&id=Business%20and%20Overview) Planet uses its Earth observation satellites to provide daily global imagery and analytics, serving over 900 customers - The company's mission is to **image the entire world's landmass daily** to make global change visible, accessible, and actionable[126](index=126&type=chunk) - Planet operates the **largest Earth observation fleet of satellites** in history, with **over 2,400 images** on average for every point on Earth's landmass[128](index=128&type=chunk)[129](index=129&type=chunk) - As of July 31, 2023, the company served **944 customers**, a **10% year-over-year increase**[131](index=131&type=chunk) [Key Operational and Business Metrics](index=30&type=section&id=Key%20Operational%20and%20Business%20Metrics) Key metrics include a 102% Net Dollar Retention Rate, 944 EoP Customer Count, and increased capital expenditures for satellites Key Metrics Comparison | Metric | As of/For Six Months Ended July 31, 2023 | As of/For Six Months Ended July 31, 2022 | | :--- | :--- | :--- | | Net Dollar Retention Rate | 102% | 125% | | EoP Customer Count | 944 | 855 | | % Recurring ACV | 92% | 93% | - Capital Expenditures as a Percentage of Revenue increased to **22%** for the six months ended July 31, 2023, up from **9%** in the prior-year period, primarily due to increased investment in building high and medium resolution satellites[152](index=152&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Compares operating results for Q2 and H1 FY2024, showing revenue growth and improved gross profit with reduced operating loss Q2 2024 vs Q2 2023 Results (in thousands) | Line Item | Three Months Ended July 31, 2023 | Three Months Ended July 31, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $53,761 | $48,450 | 11% | | Gross Profit | $26,292 | $23,473 | 12% | | Loss from Operations | ($43,280) | ($42,640) | 2% | | Net Loss | ($37,975) | ($39,529) | (4)% | H1 2024 vs H1 2023 Results (in thousands) | Line Item | Six Months Ended July 31, 2023 | Six Months Ended July 31, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $106,464 | $88,577 | 20% | | Gross Profit | $54,439 | $39,972 | 36% | | Loss from Operations | ($87,972) | ($90,354) | (3)% | | Net Loss | ($72,419) | ($83,889) | (14)% | - Q2 revenue growth of **11%** was driven by a **$6.2 million** increase from total customer growth, partially offset by a **$0.9 million** reduction from existing contracts[171](index=171&type=chunk) - H1 revenue growth of **20%** was driven by a **$9.3 million** increase from customer growth and an **$8.6 million** net expansion of existing customer contracts[186](index=186&type=chunk) [Non-GAAP Information](index=38&type=section&id=Non-GAAP%20Information) Non-GAAP Gross Margin was 52% in Q2 and 54% in H1, while Adjusted EBITDA loss widened in both periods Reconciliation of Gross Profit to Non-GAAP Gross Profit (in thousands) | Metric | Q2 2023 | Q2 2022 | H1 2023 | H1 2022 | | :--- | :--- | :--- | :--- | :--- | | Gross Profit (GAAP) | $26,292 | $23,473 | $54,439 | $39,972 | | Non-GAAP Gross Profit | $27,794 | $25,196 | $57,285 | $43,445 | | Non-GAAP Gross Margin | 52% | 52% | 54% | 49% | Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q2 2023 | Q2 2022 | H1 2023 | H1 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Loss (GAAP) | ($37,975) | ($39,529) | ($72,419) | ($83,889) | | Adjusted EBITDA | ($14,463) | ($10,471) | ($33,551) | ($26,738) | [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $118.8 million in cash and $249.0 million in short-term investments, with improved operating cash flow - The company holds **$118.8 million** in cash and cash equivalents and **$249.0 million** in highly liquid short-term investments as of July 31, 2023[206](index=206&type=chunk) - Net cash used in operating activities for the six months ended July 31, 2023 was **$21.0 million**, compared to **$28.8 million** in the prior year period[211](index=211&type=chunk)[212](index=212&type=chunk) - Principal contractual obligations include leases, satellite launch services, and a minimum purchase commitment for hosting services from Google totaling **$139.1 million** through 2028[89](index=89&type=chunk)[208](index=208&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk exposure, including foreign currency and interest rate, has not materially changed since January 31, 2023 - There have been **no material changes** in the company's exposure to market risk since January 31, 2023[220](index=220&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of July 31, 2023, with no material changes to internal controls - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective** as of July 31, 2023[221](index=221&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[222](index=222&type=chunk) [Part II - Other Information](index=43&type=section&id=Part%20II%20-%20Other%20Information) [Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - The company is **not currently a party to any material legal proceedings**[225](index=225&type=chunk) [Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors have occurred since the 2023 Form 10-K - **No material changes** to the risk factors disclosed in the 2023 Form 10-K have occurred[226](index=226&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred, except for shares withheld for employee tax obligations on vested RSUs - **No unregistered sales** of equity securities were made, except for shares withheld for employee tax obligations on vested RSUs[227](index=227&type=chunk) [Other Information](index=43&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the last fiscal quarter - **No director or officer adopted or terminated** a Rule 10b5-1 trading plan during the last fiscal quarter[230](index=230&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with Form 10-Q, including CEO/CFO certifications and Inline XBRL documents - Exhibits filed include **CEO/CFO certifications and XBRL data files**[232](index=232&type=chunk)

Planet Labs PBC (NYSE:PL) Q1 2024 Earnings Call Transcript June 8, 2023 5:00 PM ET Company Participants Chris Genualdi - VP of IR Will Marshall - Co-founder and CEO Ashley Fieglein Johnson - Chief Financial and Operating Officer Conference Call Participants Ryan Koontz - Needham & Company Trevor Walsh - JMP Jason Gursky - Citigroup Mike Latimore - Northland Capital Markets Jeff Van Rhee - Craig-Hallum Edison Yu - Deutsche Bank Greg Mesniaeff - WestPark Josh Sullivan - The Benchmark Company Operator Good aft ...

Financial Performance - Planet achieved strong revenue growth, with a +31% year-over-year increase in Q1'24[13] - The company maintains strong visibility with >90% annual or multi-year contracts[65] - Planet has a strong balance sheet with $376 million in cash, cash equivalents, and short-term investments as of the end of Q1'24[66] - Non-GAAP Gross Margin expanded to 56% in Q1'24[82] Customer Base and Retention - Planet has a growing customer base, with >90% customer retention[14] - The company boasts a high Net Dollar Retention Rate (NDRR), indicating strong customer loyalty and expansion[17] - Planet has 903 Recurring ACV EoP in 1Q'24[101] Business Development and Partnerships - Planet signed a seven-figure, multi-year contract with Bolivia's Institute of National Agrarian Reform (INRA)[5] - The company is partnering with organizations like The Nature Conservancy to map blue carbon[4] - Planet is working towards a more sustainable and equitable world[68] Technological Advancements - Planet is developing its next-generation satellite constellation for high-resolution, rapid revisit information[22] - The company utilizes AI in mapping conflict zones[11] - Planet's satellites offer expansive coverage, greater precision with 30cm resolution, and high daily revisits[36]

Part I - Financial Information [Item 1. Financial Statements (unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents Planet Labs PBC's unaudited condensed consolidated financial statements, covering balance sheets, operations, comprehensive loss, equity, cash flows, and detailed notes on accounting policies and disclosures for Q1 2023 [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheets show a decrease in total assets and stockholders' equity from January 31, 2023, to April 30, 2023, primarily driven by a reduction in cash and cash equivalents, while total liabilities also decreased | Metric | April 30, 2023 (in thousands) | January 31, 2023 (in thousands) | Change (in thousands) | % Change | | :----------------------------- | :------------------------------ | :------------------------------ | :-------------------- | :------- | | Total Assets | $723,457 | $752,723 | $(29,266) | -3.9% | | Cash and cash equivalents | $140,763 | $181,892 | $(41,129) | -22.6% | | Total Liabilities | $164,108 | $176,619 | $(12,511) | -7.1% | | Total Stockholders' Equity | $559,349 | $576,104 | $(16,755) | -2.9% | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended April 30, 2023, Planet Labs PBC reported a significant increase in revenue and gross profit, leading to a reduced net loss compared to the same period in 2022 | Metric | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | Change (in thousands) | % Change | | :------------------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | :------- | | Revenue | $52,703 | $40,127 | $12,576 | 31.3% | | Cost of revenue | $24,556 | $23,628 | $928 | 3.9% | | Gross profit | $28,147 | $16,499 | $11,648 | 70.6% | | Loss from operations | $(44,692) | $(47,714) | $3,022 | -6.3% | | Net loss | $(34,444) | $(44,360) | $9,916 | -22.4% | | Basic and diluted net loss per share | $(0.13) | $(0.17) | $0.04 | -23.5% | [Condensed Consolidated Statements of Comprehensive Loss](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) The comprehensive loss for the three months ended April 30, 2023, was lower than the prior year, primarily reflecting a reduced net loss, despite a negative impact from foreign currency translation and changes in fair value of available-for-sale securities | Metric | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Net loss | $(34,444) | $(44,360) | | Other comprehensive income (loss), net of tax: | | | | Foreign currency translation adjustment | $(45) | $175 | | Change in fair value of available-for-sale securities | $(544) | — | | Other comprehensive income (loss), net of tax | $(589) | $175 | | Comprehensive loss | $(35,033) | $(44,185) | [Condensed Consolidated Statements of Stockholders' Equity](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased from January 31, 2023, to April 30, 2023, primarily due to the net loss incurred and net unrealized losses on available-for-sale securities, partially offset by stock-based compensation and stock option exercises | Metric | January 31, 2023 (in thousands) | April 30, 2023 (in thousands) | | :------------------------------------ | :------------------------------ | :------------------------------ | | Total Stockholders' Equity | $576,104 | $559,349 | | **Key Changes (Q1 2023):** | | | | Issuance of Class A common stock from option exercise | | $3,295 | | Stock-based compensation | | $15,983 | | Net unrealized loss on available-for-sale securities | | $(544) | | Net loss | | $(34,444) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flows for the three months ended April 30, 2023, show a significant increase in cash used in operating and investing activities compared to the prior year, resulting in a larger net decrease in cash and cash equivalents | Activity | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Net cash used in operating activities | $(30,601) | $(6,534) | | Net cash used in investing activities | $(12,581) | $(3,652) | | Net cash provided by financing activities | $1,399 | $4,552 | | Net decrease in cash and cash equivalents | $(41,606) | $(6,283) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide essential context and detail for the condensed consolidated financial statements, covering the company's organization, accounting policies, revenue recognition, fair value measurements, balance sheet components, lease obligations, R&D arrangements, commitments, warrants, related party transactions, stock-based compensation, income taxes, and net loss per share [(1) Organization](index=12&type=section&id=(1)%20Organization) Planet Labs PBC's mission is to use space to provide high-cadence geospatial data, making global change visible and actionable, formed through a business combination with dMY Technology Group, Inc. IV in December 2021 - Planet Labs PBC's mission is to use space to help life on Earth by imaging the world daily and making global change **visible, accessible, and actionable**[25](index=25&type=chunk) - The company was renamed Planet Labs PBC following a business combination with dMY Technology Group, Inc. IV on **December 7, 2021**[26](index=26&type=chunk) [(2) Basis of Presentation and Summary of Significant Accounting Policies](index=12&type=section&id=(2)%20Basis%20of%20Presentation%20and%20Summary%20of%20Significant%20Accounting%20Policies) The financial statements are unaudited and prepared under U.S. GAAP, consolidating all wholly-owned subsidiaries, with the company historically incurring net losses and negative cash flows, operating as a single segment, and facing credit risk concentration - The company has incurred net losses and negative cash flows from operations since its inception and expects to continue to do so as it expands its business[31](index=31&type=chunk) | Metric | April 30, 2023 (in millions) | January 31, 2023 (in millions) | | :-------------------------- | :--------------------------- | :--------------------------- | | Cash and cash equivalents | $140.8 | $181.9 | | Short-term investments | $235.4 | $226.9 | | Total Liquid Assets | $376.2 | $408.8 | - The company operates in **one operating segment** and **one reportable segment**[36](index=36&type=chunk) - As of April 30, 2023, one customer accounted for **17% of accounts receivable** and **21% of revenue** for the three months ended April 30, 2023[39](index=39&type=chunk) [(3) Revenue](index=14&type=section&id=(3)%20Revenue) Revenue recognized from deferred revenue increased year-over-year, and remaining performance obligations stood at **$138.0 million** as of April 30, 2023, with most expected to be recognized within 24 months, and revenue from the Rest of World exceeded that from the United States | Metric | Three Months Ended April 30, 2023 (in millions) | Three Months Ended April 30, 2022 (in millions) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Revenue recognized from deferred revenue | $25.1 | $22.6 | - Remaining performance obligations were **$138.0 million** as of April 30, 2023, with approximately **80% expected over the next 12 months** and **99% over the next 24 months**[44](index=44&type=chunk) | Geographic Region | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :---------------- | :----------------------------------------------- | :----------------------------------------------- | | United States | $23,127 | $18,752 | | Rest of World | $29,576 | $21,375 | | Total revenue | $52,703 | $40,127 | [(4) Fair Value of Financial Assets and Liabilities](index=14&type=section&id=(4)%20Fair%20Value%20of%20Financial%20Assets%20and%20Liabilities) The company categorizes its financial instruments by fair value hierarchy levels, with Public Warrants as Level 1, and Private Placement Warrants and contingent consideration as Level 3, requiring significant unobservable inputs | (in thousands) | Level 1 | Level 2 | Level 3 | | :------------------------------------ | :------ | :------ | :------ | | **Assets (April 30, 2023):** | | | | | Cash equivalents | $96,512 | — | — | | Short-term investments | $73,355 | $162,060 | — | | **Total Assets** | **$169,967** | **$162,060** | **—** | | **Liabilities (April 30, 2023):** | | | | | Public Warrants | $4,347 | — | — | | Private Placement Warrants | — | — | $6,378 | | Contingent consideration for acquisition of business | — | — | $7,607 | | **Total Liabilities** | **$4,347** | **—** | **$13,985** | - Private Placement Warrants are classified as Level 3, valued using Black-Scholes or Monte Carlo simulation, incorporating unobservable inputs like expected stock volatility (**70.0% as of April 30, 2023**)[55](index=55&type=chunk) - Contingent consideration liabilities (Level 3) are valued based on the present value of probability-weighted payments for technical milestones and Monte Carlo simulation for customer contract earnouts, relying on management's estimates[57](index=57&type=chunk)[58](index=58&type=chunk) [(5) Balance Sheet Components](index=17&type=section&id=(5)%20Balance%20Sheet%20Components) This section details the composition and changes in key balance sheet items, including decreases in cash and restricted cash, increases in short-term investments and property and equipment (due to satellites in process), stable goodwill, and a slight decrease in intangible assets | Metric | April 30, 2023 (in thousands) | January 31, 2023 (in thousands) | | :------------------------------------------------ | :------------------------------ | :------------------------------ | | Cash and cash equivalents, and restricted cash and cash equivalents | $146,470 | $188,076 | | Short-term investments (Fair Value) | $235,415 | $226,868 | | Property and equipment, net | $118,193 | $108,091 | | Satellites in process (included in Property and equipment) | $22,900 | $13,800 | | Goodwill | $112,748 | $112,748 | | Total intangible assets, net | $13,999 | $14,831 | - Total depreciation expense for Q1 2023 was **$8.7 million**, with **$8.2 million** specific to satellites[67](index=67&type=chunk) - A change in the estimated useful lives of two high-resolution satellites in April 2023 resulted in a **$0.4 million increase** in Q1 2023 depreciation expense and is expected to increase FY2024 depreciation by **$5.0 million**[68](index=68&type=chunk) [(6) Leases](index=20&type=section&id=(6)%20Leases) The company's leasing activities primarily involve operating leases for real estate and ground stations, with operating lease costs increasing in Q1 2023 and total operating lease liabilities at **$26.2 million** with a weighted average remaining term of **3.8 years** as of April 30, 2023 | Metric | Three Months Ended April 30, 2023 (in millions) | Three Months Ended April 30, 2022 (in millions) | | :-------------------- | :----------------------------------------------- | :----------------------------------------------- | | Operating lease costs | $2.0 | $1.5 | - Right of use assets obtained in exchange for operating lease liabilities were **$4.8 million** for the three months ended April 30, 2023[74](index=74&type=chunk) - Total operating lease liabilities as of April 30, 2023, were **$26.2 million**, with a weighted average remaining lease term of **3.8 years** and a weighted average discount rate of **7.9%**[74](index=74&type=chunk) [(7) Research and Development Arrangements](index=20&type=section&id=(7)%20Research%20and%20Development%20Arrangements) Planet Labs PBC has two significant R&D funding arrangements: a **$45.8 million** R&D Services Agreement for prototype satellite development and a **$40.5 million** NASA Communication Services Project agreement, with funding from both recognized as a reduction of R&D expenses - The R&D Services Agreement provides **$45.8 million** in funding over three years for prototype satellite design and development, with **$4.0 million recognized in Q1 2023** and **$36.9 million received in total** as of April 30, 2023[75](index=75&type=chunk)[77](index=77&type=chunk) - The NASA Communication Services Project (CSP) agreements provide aggregate funding of **$40.5 million** for developing near-Earth space communication services, with **$3.1 million recognized in Q1 2023** and **$6.5 million received in total** as of April 30, 2023[78](index=78&type=chunk)[79](index=79&type=chunk) [(8) Commitments and Contingencies](index=21&type=section&id=(8)%20Commitments%20and%20Contingencies) The company has purchase commitments for future satellite launch services (**$0.5 million** for FY2024) and significant hosting services from Google (**$147.3 million** through FY2028), and is not currently involved in any material legal proceedings - Future purchase commitments for noncancelable satellite launch services totaled **$475 thousand** for the remainder of Fiscal Year 2024 as of April 30, 2023[80](index=80&type=chunk) - Minimum purchase commitments for hosting services from Google, LLC totaled **$147.3 million** through January 31, 2028, as of April 30, 2023[81](index=81&type=chunk) - The company is not a party to any material legal proceedings and is not aware of any pending or threatened claims expected to have a material adverse impact[82](index=82&type=chunk) [(9) Warrants](index=22&type=section&id=(9)%20Warrants) Planet Labs PBC has Public Warrants and Private Placement Warrants outstanding, with the latter including vesting conditions tied to Class A common stock price targets or a change of control, and other warrants to purchase Class A common stock are also outstanding - As of April 30, 2023, there were **6,899,982 Public Warrants outstanding**, exercisable at **$11.50 per share**[88](index=88&type=chunk) - There were **5,933,333 Private Placement Warrants outstanding**, including **2,966,667 Private Placement Vesting Warrants**, which vest based on Class A common stock price targets (**$15.00, $17.00, $19.00, $21.00**) or a change of control prior to **December 7, 2026**[87](index=87&type=chunk)[88](index=88&type=chunk) - Additionally, **1,065,594 warrants** to purchase Class A common stock were outstanding and exercisable, with a weighted average exercise price of **$9.384** and a remaining term of **6.9 years**[89](index=89&type=chunk) [(10) Related Party Transactions](index=22&type=section&id=(10)%20Related%20Party%20Transactions) Google, a significant shareholder, is a related party, with a content license agreement expiring in April 2023, resulting in reduced revenue, while the company continues to purchase substantial hosting and other services from Google under an amended agreement extending through January 2028 - Google, LLC owned **greater than 10%** of the company's common shares as of April 30, 2023[90](index=90&type=chunk) - A content license agreement with Google expired in April 2023, with revenue recognized decreasing from **$3.0 million in Q1 2022** to **$0.3 million in Q1 2023**[91](index=91&type=chunk) - The company purchases hosting and other services from Google, with hosting expense of **$6.4 million in Q1 2023** (up from **$5.5 million in Q1 2022**), and an amended hosting agreement extends through **January 31, 2028**, with aggregate purchase commitments of **$193.0 million**[92](index=92&type=chunk)[93](index=93&type=chunk) [(11) Stock-based Compensation](index=23&type=section&id=(11)%20Stock-based%20Compensation) Total stock-based compensation expense decreased in Q1 2023, with a significant number of Restricted Stock Units (RSUs) and Performance Vesting Restricted Stock Units (PSUs) granted, and substantial unrecognized compensation costs remaining for various equity awards | Metric | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Total stock-based compensation expense | $15,356 | $19,822 | - As of April 30, 2023, total unrecognized compensation cost for stock options was **$26.3 million** (expected over **2.0 years**), for RSUs was **$127.0 million** (over **3.3 years**), and for PSUs was **$1.0 million** (over **0.9 years**)[96](index=96&type=chunk)[98](index=98&type=chunk)[100](index=100&type=chunk) - During Q1 2023, **15,709,449 RSUs** were granted, generally vesting over four years, and **265,825 PSUs** were granted to senior management, vesting based on revenue and adjusted EBITDA targets[97](index=97&type=chunk)[99](index=99&type=chunk) [(12) Income Taxes](index=25&type=section&id=(12)%20Income%20Taxes) Income tax expense remained consistent year-over-year, primarily driven by current tax on foreign earnings, with the effective tax rate differing from the federal statutory rate due to a valuation allowance against most U.S. and foreign deferred tax assets - Income tax expense was **$0.3 million** for both the three months ended April 30, 2023, and 2022, primarily due to current tax on foreign earnings[106](index=106&type=chunk) - The effective tax rates differed from the federal statutory tax rate primarily due to a valuation allowance on the majority of the company's U.S. and foreign deferred tax assets[106](index=106&type=chunk) - Gross unrecognized tax benefits were **$7.2 million** as of April 30, 2023, which, if recognized, would not affect the effective tax rate due to the valuation allowance[107](index=107&type=chunk) [(13) Net Loss Per Share Attributable to Common Stockholders](index=25&type=section&id=(13)%20Net%20Loss%20Per%20Share%20Attributable%20to%20Common%20Stockholders) Basic and diluted net loss per share were the same for both periods presented, as the inclusion of all potential common stock outstanding would have been anti-dilutive, indicating a significant number of outstanding anti-dilutive securities | Metric | Three Months Ended April 30, 2023 | Three Months Ended April 30, 2022 | | :------------------------------------------------------------------------------------------------ | :-------------------------------- | :-------------------------------- | | Basic and diluted net loss per share attributable to common stockholders | $(0.13) | $(0.17) | | Basic and diluted weighted-average common shares outstanding | 272,347,977 | 264,088,997 | - Over **104 million potential common shares** were excluded from the computation of diluted net loss per share as of April 30, 2023, because their inclusion would have been anti-dilutive[110](index=110&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on Planet Labs PBC's financial condition and operational results for the three months ended April 30, 2023, covering business overview, model, key factors, performance metrics, detailed financial results, non-GAAP measures, liquidity, and critical accounting policies [Business and Overview](index=27&type=section&id=Business%20and%20Overview) Planet Labs PBC's mission is to leverage its extensive satellite fleet to provide daily Earth imagery and insights, enabling timely decisions for over **900 customers** across diverse sectors, with a focus on environmental and social change - Planet's mission is to use space to help life on Earth by imaging the world every day and making global change **visible, accessible, and actionable**[112](index=112&type=chunk) - The company operates the **largest Earth observation fleet of satellites**, providing a daily stream of proprietary data and machine learning analytics to over **900 customers**[114](index=114&type=chunk)[116](index=116&type=chunk) - As of April 30, 2023, the EoP Customer Count was **903**, representing a **9% year-over-year growth**, with **over 90% of customers** on annual or multiyear contracts[117](index=117&type=chunk) [Our Business Model](index=27&type=section&id=Our%20Business%20Model) Planet Labs PBC generates revenue primarily through cloud-based data and analytics licensing via fixed-price subscription and usage-based contracts, employing a 'land-and-expand' strategy to scale within existing verticals and expand into new markets through investments in sales, marketing, and software solutions - Revenue is primarily generated by selling licenses to data and analytics through fixed-price subscription and usage-based contracts on an entirely **cloud-based platform**[118](index=118&type=chunk) - The company employs a **'land-and-expand' go-to-market strategy** to increase value and revenue from existing customers[119](index=119&type=chunk) - Growth strategies include scaling in existing verticals (Civil Government, Agriculture, Defense & Intelligence, Mapping) and expanding into new verticals (Energy & Infrastructure, Finance & Insurance, Forestry, ESG) through investments in sales, marketing, and software engineering[120](index=120&type=chunk)[121](index=121&type=chunk)[122](index=122&type=chunk) [Factors Affecting the Results of Operations](index=28&type=section&id=Factors%20Affecting%20the%20Results%20of%20Operations) Key factors influencing financial results include the ability to acquire and retain customers, expand revenue from existing clients, develop new sensors and data sets, make effective investment decisions, and manage business seasonality, all of which may lead to increased R&D, operating expenses, and capital expenditures, potentially delaying profitability - Attracting new customers is crucial, driven by improving data, offering easier-to-consume software/analytic solutions, new data sets, and expanding global sales/marketing, which will increase research and development expenditures[124](index=124&type=chunk) - Increasing customer retention and expanding revenue from existing customers requires investments in customer success, data improvements, and software tools, leading to anticipated increases in cost of revenue, operating expenses, and capital expenditures, and likely near-term losses[125](index=125&type=chunk) - The business experiences seasonality due to customer behavior, buying patterns, and usage-based contracts, which can impact operating results and financial metrics[128](index=128&type=chunk) [Key Operational and Business Metrics](index=29&type=section&id=Key%20Operational%20and%20Business%20Metrics) The company uses several key metrics to evaluate performance, including Net Dollar Retention Rate (which decreased to **98%** in Q1 2023), EoP Customer Count (increased **9% YoY** to **903**), Percent of Recurring ACV (increased to **93%**), and Capital Expenditures as a Percentage of Revenue (increased to **13%** due to satellite build costs) | Metric | Three Months Ended April 30, 2023 | Three Months Ended April 30, 2022 | | :------------------------------------ | :-------------------------------- | :-------------------------------- | | Net Dollar Retention Rate | 98 % | 105 % | | Net Dollar Retention Rate including Winbacks | 99 % | 105 % | | EoP Customer Count | 903 | 826 | | Percent of Recurring ACV | 93 % | 92 % | | Capital Expenditures as Percentage of Revenue | 13 % | 9 % | - The decrease in Net Dollar Retention Rate (both with and without winbacks) was primarily due to the timing of renewing certain government contracts in Q1 2023, compared to several government expansion contracts signed in Q1 2022[132](index=132&type=chunk)[133](index=133&type=chunk) - The increase in Capital Expenditures as a Percentage of Revenue was primarily attributable to an increase in capitalized labor and material related to the build of high resolution and medium resolution satellites[136](index=136&type=chunk) [Components of Results of Operations](index=31&type=section&id=Components%20of%20Results%20of%20Operations) This section outlines the composition and expected trends for each line item in the statements of operations, with revenue primarily from data licensing, cost of revenue and operating expenses expected to increase with business growth and investments, interest income rising, and warrant liability fair value changes impacting other income/expense - Revenue is principally derived from licensing rights to imagery delivered digitally via an online platform, with immaterial amounts from professional services[137](index=137&type=chunk)[138](index=138&type=chunk) - Cost of revenue is expected to increase with investments in delivery and product sets, but further economies of scale are anticipated as subscription revenue grows[139](index=139&type=chunk)[140](index=140&type=chunk) - Research and development, sales and marketing, and general and administrative expenses are all expected to increase in future periods due to continued investment in technology, market expansion, and public company operations, respectively[143](index=143&type=chunk)[145](index=145&type=chunk)[147](index=147&type=chunk) - Interest income primarily consists of interest earned on cash, cash equivalents, and short-term investments, while changes in fair value of warrant liabilities are expected to incur incremental income or expense[148](index=148&type=chunk)[149](index=149&type=chunk) [Results of Operations (Three months ended April 30, 2023 compared to three months ended April 30, 2022)](index=33&type=section&id=Results%20of%20Operations%20(Three%20months%20ended%20April%2030,%202023%20compared%20to%20three%20months%20ended%20April%2030,%202022)) Planet Labs PBC experienced strong revenue growth of **31%** in Q1 2023, driven by both existing customer expansion and new customer acquisition, and while operating expenses increased across the board due to headcount and strategic investments, the net loss decreased by **22%** year-over-year, significantly aided by a substantial increase in interest income | Metric | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | Change (in thousands) | % Change | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | :------- | | Revenue | $52,703 | $40,127 | $12,576 | 31% | | Cost of revenue | $24,556 | $23,628 | $928 | 4% | | Research and development | $28,186 | $24,750 | $3,436 | 14% | | Sales and marketing | $23,125 | $18,855 | $4,270 | 23% | | General and administrative | $21,528 | $20,608 | $920 | 4% | | Interest income | $4,506 | $112 | $4,394 | 3,923% | | Net loss | $(34,444) | $(44,360) | $9,916 | -22% | - Revenue increased by **$12.6 million (31%)** primarily due to net expansion of existing customer contracts (**$7.4 million**) and an increase in new customers worldwide (**$5.2 million**), with EoP Customer Count growing **9%**[154](index=154&type=chunk) - Operating expenses (R&D, Sales & Marketing, G&A) increased primarily due to higher employee-related costs from increased headcount and increased sales and marketing events, partially offset by a decline in stock-based compensation expense related to earn-out shares[158](index=158&type=chunk)[159](index=159&type=chunk)[160](index=160&type=chunk) [Non-GAAP Information](index=34&type=section&id=Non-GAAP%20Information) The company presents Non-GAAP Gross Profit and Adjusted EBITDA to supplement U.S. GAAP results, providing insights into core operating performance, with Non-GAAP Gross Profit increasing significantly and Adjusted EBITDA showing a larger loss in Q1 2023 compared to Q1 2022 | Metric | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Non-GAAP Gross Profit | $29,503 | $18,249 | | Non-GAAP Gross Margin percentage | 56 % | 45 % | | Adjusted EBITDA | $(19,088) | $(16,267) | - Non-GAAP Gross Profit excludes stock-based compensation and amortization of acquired intangible assets classified as cost of revenue[169](index=169&type=chunk) - Adjusted EBITDA excludes non-cash expenses (depreciation, amortization, stock-based compensation, change in fair value of warrant liabilities) and non-operating items (interest income/expense, taxes, foreign currency gains/losses)[169](index=169&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) Planet Labs PBC has historically relied on equity sales and borrowings for funding, and while it holds substantial cash and short-term investments, it anticipates increasing capital expenditures and working capital needs, which may necessitate additional financing in the future - The company has historically incurred net losses and negative cash flows from operations, funded primarily by equity securities sales and credit facilities[173](index=173&type=chunk) | Metric | April 30, 2023 (in millions) | January 31, 2023 (in millions) | | :-------------------------- | :--------------------------- | :--------------------------- | | Cash and cash equivalents | $140.8 | $181.9 | | Short-term investments | $235.4 | $226.9 | | Total Liquid Assets | $376.2 | $408.8 | - Capital expenditures and working capital requirements are expected to increase, potentially requiring additional equity or debt financing, which may not be available on favorable terms[176](index=176&type=chunk) [Statement of Cash Flows](index=36&type=section&id=Statement%20of%20Cash%20Flows) Net cash used in operating activities significantly increased in Q1 2023 due to the net loss and changes in operating assets/liabilities, investing activities also used more cash primarily for purchases of property and equipment and available-for-sale securities, while financing activities provided less cash compared to the prior year | Activity | Three Months Ended April 30, 2023 (in thousands) | Three Months Ended April 30, 2022 (in thousands) | | :------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Net cash used in operating activities | $(30,601) | $(6,534) | | Net cash used in investing activities | $(12,581) | $(3,652) | | Net cash provided by financing activities | $1,399 | $4,552 | - Net cash used in operating activities for Q1 2023 was primarily driven by the net loss of **$34.4 million**, adjusted for non-cash items and changes in operating assets and liabilities, including a **$7.8 million decrease in deferred revenue** and a **$10.7 million decrease in accounts payable**[181](index=181&type=chunk) - Net cash used in investing activities for Q1 2023 primarily consisted of **$6.3 million in property and equipment purchases** and **$35.2 million in available-for-sale securities purchases**, partially offset by **$30.0 million from maturities of available-for-sale securities**[183](index=183&type=chunk) [Critical Accounting Policies and Estimates](index=37&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section refers to the company's 2023 Form 10-K for a detailed discussion of critical accounting policies and estimates, which include revenue recognition, stock-based compensation, warrant liabilities, property and equipment, business combinations, goodwill, and income taxes - Critical accounting policies and estimates include revenue recognition, stock-based compensation, public and private placement warrant liabilities, property and equipment and long-lived assets, business combinations, goodwill, and income taxes[186](index=186&type=chunk) - A detailed discussion of these policies is available in Part II, Item 7 of the company's 2023 Form 10-K[186](index=186&type=chunk) [Recent Accounting Pronouncements](index=37&type=section&id=Recent%20Accounting%20Pronouncements) Information regarding recently issued accounting pronouncements is provided in Note 2 of the unaudited condensed consolidated financial statements - Refer to Note 2 in the unaudited condensed consolidated financial statements for information regarding recently issued accounting pronouncements[187](index=187&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's exposure to market risks, including foreign currency exchange, interest rate, and inflation risks, has not materially changed since January 31, 2023, with further details available in the 2023 Form 10-K - The company's exposure to market risks (foreign currency exchange, interest rate, and inflation risk) has not materially changed since January 31, 2023[188](index=188&type=chunk) - For detailed quantitative and qualitative disclosures about these market risks, refer to Item 7A of the 2023 Form 10-K[188](index=188&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of April 30, 2023, at a reasonable assurance level, with no material changes in internal control over financial reporting identified during the quarter, though inherent limitations in any control system are acknowledged - Management, including the principal executive and financial officers, concluded that disclosure controls and procedures were effective as of April 30, 2023, at the reasonable assurance level[189](index=189&type=chunk) - No material changes in internal control over financial reporting were identified during the three months ended April 30, 2023[190](index=190&type=chunk) - Management acknowledges that control systems provide only reasonable, not absolute, assurance and can be subject to errors, fraud, or management override[191](index=191&type=chunk) Part II - Other Information [Item 1. Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) Planet Labs PBC is not currently a party to any material legal proceedings and is unaware of any pending or threatened claims that would have a material adverse impact on its financial statements - The company is not currently a party to any material legal proceedings[193](index=193&type=chunk) [Item 1A. Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's 2023 Annual Report on Form 10-K - There have been no material changes to the risk factors disclosed in the company's 2023 Form 10-K[194](index=194&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds occurred, other than shares repurchased for employee tax withholding obligations related to restricted stock awards - No unregistered sales of equity securities or use of proceeds, other than shares repurchased for net settlement by employees to satisfy income tax withholding obligations from restricted stock awards vesting[195](index=195&type=chunk) [Item 3. Defaults Upon Senior Securities](index=38&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable to Planet Labs PBC for the reporting period - Not applicable[196](index=196&type=chunk) [Item 4. Mine Safety Disclosures](index=38&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to Planet Labs PBC for the reporting period - Not applicable[197](index=197&type=chunk) [Item 5. Other Information](index=38&type=section&id=Item%205.%20Other%20Information) There is no other information to report under this item - None[198](index=198&type=chunk) [Item 6. Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including the form of Performance-Vesting Restricted Stock Unit Agreement, certifications by the CEO and CFO, and various Inline XBRL taxonomy documents - Exhibits include the Form of Performance-Vesting Restricted Stock Unit Agreement, certifications by the Chief Executive Officer and Chief Financial Officer, and various Inline XBRL documents[199](index=199&type=chunk) Signatures The Quarterly Report on Form 10-Q was duly signed on June 9, 2023, by Ashley Johnson, Chief Financial and Operating Officer of Planet Labs PBC - The report was signed on **June 9, 2023**, by Ashley Johnson, Chief Financial and Operating Officer of Planet Labs PBC[202](index=202&type=chunk)

Planet Labs PBC (NYSE:PL) Q4 2023 Earnings Conference Call March 29, 2023 5:00 PM ET Company Participants Chris Genualdi - VP of IR Will Marshall - Co-founder and CEO Ashley Fieglein Johnson - Chief Financial and Operating Officer Kevin Weil - President, Product & Business Conference Call Participants Michael Latimore - Northland Capital Markets Ryan Koontz - Needham & Company Jeff Van Rhee - Craig-Hallum Noah Poponak - Goldman Sachs Edison Yu - Deutsche Bank Katherine Knop - B. Riley Financial Operator Goo ...