Business Agreements and Contracts - Planet entered into a multi-year $230.0 million commercial agreement with SKY Perfect JSAT to build and operate a constellation of ten high-resolution satellites, with payments based on specified milestones[127]. Financial Performance - Revenue increased by $5.8 million, or 10%, to $66.3 million for the three months ended April 30, 2025, from $60.4 million in 2024, mainly driven by new customer growth[158]. - Gross profit for the three months ended April 30, 2025, was $36.6 million, a 16% increase from $31.7 million in 2024[158]. - Net loss decreased to $(12.6) million for the three months ended April 30, 2025, from $(29.3) million in 2024, a reduction of $16.7 million or 57%[158]. - Adjusted EBITDA improved to $1.2 million for the three months ended April 30, 2025, compared to a loss of $8.4 million in the same period of 2024[176]. - Net cash provided by operating activities was $17.3 million for the three months ended April 30, 2025, compared to a cash outflow of $4.3 million in the same period of 2024[186]. Customer Metrics - The Net Dollar Retention Rate increased to 103% for the three months ended April 30, 2025, compared to 100% for the same period in 2024, primarily due to large government contract expansions[136]. - EoP Customer Count decreased to 919 as of April 30, 2025, from 1,031 as of April 30, 2024, attributed to a focus on larger customers[138]. - Percent of Recurring ACV rose to 97% for the three months ended April 30, 2025, up from 95% in the same period of 2024, driven by demand from large government customers[140]. Operational Efficiency - Loss from operations improved to $(22.8) million for the three months ended April 30, 2025, compared to $(34.6) million in 2024, reflecting a reduction of $11.8 million[158]. - Capital Expenditures as a Percentage of Revenue decreased to 14% for the three months ended April 30, 2025, from 19% in 2024, primarily due to increased revenue and timing of purchases[141]. - Cost of revenue increased by $0.9 million, or 3%, to $29.7 million for the three months ended April 30, 2025, primarily due to a $1.4 million increase in employee-related costs[160]. Investment and Growth Strategy - Planet plans to invest in expanding its offerings to make data more actionable and accessible to non-geospatial experts, targeting emerging markets such as energy, infrastructure, and finance[122]. - Planet aims to establish a platform ecosystem by developing software tools and APIs to enhance user experience and accelerate growth through network effects[124]. - The company plans to make strategic investments in new sensors to capture additional data sets, enhancing its value proposition to customers[125]. - Planet's growth strategy includes scaling in existing verticals and expanding into new verticals, with a focus on civil government, agriculture, and defense[121]. Market and Economic Factors - The company is exposed to market risks including foreign currency exchange risk, interest rate risk, and inflation risk, with no material changes since January 31, 2025[195]. - The company’s financial statements are prepared in accordance with U.S. GAAP, requiring estimates and judgments affecting reported amounts of assets and liabilities[193]. Seasonal Trends - The company has experienced seasonality in its business, with fluctuations in operating results due to customer behavior and usage patterns[132]. Backlog and Future Revenue - Backlog increased to $527.0 million as of April 30, 2025, from $503.7 million as of January 31, 2025, with approximately 45% expected to be recognized over the next 12 months[178].

Revenue Performance - Q1 2025 revenue increased 2% to $1.984 billion, exceeding guidance of flat to a decrease of 2%[5] - The Company reported revenue of $1,983.6 million for the quarter ended May 4, 2025, compared to $1,951.9 million for the same quarter in 2024, representing a year-over-year increase of approximately 1.6%[31] - Total revenue for the quarter was $1,983.6 million, a slight increase of 1.6% compared to $1,951.9 million in the same quarter last year[43] - EMEA revenue increased 5% and Americas revenue increased 7% in Q1 2025, while APAC revenue decreased 13%[9] - Revenue by segment showed growth in EMEA at $927.7 million, up from $882.9 million, while the Asia-Pacific segment declined to $351.7 million from $402.5 million[43] - Tommy Hilfiger brand revenue increased by 3.4% to $1,048.1 million, while Calvin Klein remained relatively stable with a slight decrease of 0.1%[49] - Direct-to-Consumer revenue decreased by 3.4% to $816.5 million, driven by a 4.9% decline in owned and operated retail stores[49] Earnings and Profitability - Non-GAAP EPS for Q1 2025 was $2.30, surpassing guidance of $2.10 to $2.25[5] - Full year 2025 EPS projected to be in the range of $10.75 to $11.00, down from previous guidance of $12.40 to $12.75[5] - Gross margin for Q1 2025 was 58.6%, down from 61.4% in the prior year period[16] - Gross profit for the quarter was $1,161.7 million, down from $1,198.7 million in the prior year, indicating a decrease of about 3.1%[31] - Earnings before interest and taxes (EBIT) on a non-GAAP basis was $160.5 million, down from $195.1 million year-over-year[36] - The net loss for the quarter was $44.8 million, compared to a net income of $151.4 million in the prior year, reflecting a significant decline[31] - The diluted net loss per common share was $0.88 for the quarter, compared to diluted net income per share of $2.59 in the same quarter of the previous year[31] Financial Position and Cash Flow - Cash and cash equivalents decreased to $191.0 million from $376.2 million year-over-year, indicating liquidity challenges[41] - The company’s total assets decreased to $10,672.4 million from $10,788.7 million, reflecting a decline in overall financial position[41] - Inventory increased 19% compared to the prior year, driven by investments in core product availability[16] Costs and Expenses - Selling, general and administrative expenses were $1,023.9 million for the quarter, slightly up from $1,017.3 million in the same quarter last year[31] - SG&A expenses on a non-GAAP basis were reported at $1,010.7 million, compared to $1,023.9 million in the previous year[36] - The Company incurred pre-tax restructuring costs totaling $24 million in 2024, primarily related to severance and the sale of a warehouse and distribution center[27] - The Company recognized $28 million in actuarial losses on retirement plans and $24 million in restructuring costs related to Growth Driver 5 Actions[50] Strategic Initiatives and Outlook - Full year 2025 revenue outlook reaffirmed as flat to slightly increase, with projected operating margin around 8.5%[23] - The Company emphasizes the importance of non-GAAP financial measures to provide a clearer view of ongoing operations, excluding non-recurring and non-operational amounts[33] - The Company plans to simplify its operating model through a multi-year initiative, which includes centralizing processes and improving systems[28] - Forward-looking statements regarding future revenue and earnings are subject to risks and uncertainties, including economic conditions and changes in consumer sentiment[28] - Estimated net negative impact of tariffs on full year 2025 EBIT is approximately $65 million, or $1.05 per share[15] Impairments and Charges - The Company recorded pre-tax noncash goodwill and other intangible asset impairment charges of $480 million in the first quarter of 2025, primarily due to a significant increase in discount rates[27] - Goodwill and other intangible asset impairments amounted to $479.5 million for the quarter, significantly impacting net income[37] - Effective tax rate for Q1 2025 was 87.2% on a GAAP basis, influenced by non-deductible impairment charges[16]

Financial Performance - Total net sales for Q1 fiscal 2025 were $107.6 million, a decrease of 7.1% compared to Q1 fiscal 2024[3] - Comparable net sales decreased by 7.0%, with a sequential improvement of 4.2 comp points from Q4 fiscal 2024's decrease of 11.2%[3] - Gross profit was $21.3 million, or 19.8% of net sales, down from 21.0% in the previous year[3] - SG&A expenses were $44.0 million, or 40.9% of net sales, compared to 38.9% last year, reflecting a deleverage of 190 basis points[3] - Operating loss for the quarter was $22.7 million, or 21.1% of net sales, compared to $20.8 million, or 17.9% of net sales, in the prior year[3] - Net loss was $22.2 million, or $0.74 per share, compared to a net loss of $19.6 million, or $0.65 per share, last year[4] - Tilly's, Inc. reported a net loss of $22,152,000 for the thirteen weeks ended May 3, 2025, compared to a net loss of $19,621,000 for the same period in 2024, reflecting an increase in losses of approximately 8%[16] Inventory and Store Management - Total inventories decreased by 3.8% as of May 3, 2025, compared to the same date last year[5] - The company expects to end Q2 with a total store count of 232, down from 247 at the end of the previous year's second quarter[8] - Tilly's opened 1 new store and permanently closed 3 stores in Q1 2025, resulting in a total store count of 238 at the end of the quarter[18] - The total gross square footage of Tilly's stores decreased to 1,707,000 square feet by the end of Q1 2025, down from 1,730,000 square feet at the end of Q4 2024[18] - The company experienced a significant decrease in merchandise inventories, with a reduction of $6,394,000 compared to a decrease of $15,376,000 in the same quarter of 2024, showing improved inventory management[16] Cash Flow and Liquidity - The company generated net cash used in operating activities of $8,119,000, significantly improved from $25,690,000 in the prior year, indicating a reduction in cash outflow of about 68%[16] - Cash and cash equivalents at the end of the period increased to $27,231,000 from $19,880,000 year-over-year, representing a growth of approximately 37%[16] - Total liquidity is projected to be approximately $106 million to $111 million, with no debt and a cash position of $43 million to $48 million[8] - Tilly's had a cash inflow of $14,294,000 from investing activities, contrasting with a cash outflow of $1,610,000 in the same period last year, marking a substantial turnaround[16] Expenses and Asset Management - The company recorded depreciation and amortization expenses of $2,828,000, a decrease from $3,095,000 in the same quarter of the previous year, reflecting a reduction of about 9%[16] - The company reported stock-based compensation expense of $440,000, down from $566,000 in the same quarter of the previous year, reflecting a decrease of approximately 22%[16] - Tilly's reported a gain on the disposal of assets of $15,000, compared to a loss of $16,000 in the prior year, indicating a positive shift in asset management[16]

Financial Performance - Q1 net sales increased by 19.5% to $970.5 million, with comparable sales rising by 7.1%[6] - Q1 GAAP diluted EPS was $0.75, while adjusted diluted EPS was $0.86, compared to $0.57 and $0.60 in Q1 fiscal 2024 respectively[6] - Operating income for Q1 was $50.8 million, up from $36.2 million in Q1 fiscal 2024; adjusted operating income was $59.6 million compared to $38.1 million[6] - Net income for Q1 was $41.1 million, an increase from $31.5 million in Q1 fiscal 2024; adjusted net income was $47.5 million compared to $33.0 million[6] - Net income increased to $41,148, up 30.8% from $31,467 year-over-year[20] - Adjusted net income for the period was $47,505, compared to $32,977 in the prior year, reflecting a 43.7% increase[26] - Basic and diluted income per common share rose to $0.75, a 31.6% increase from $0.57 in the same quarter last year[20] - Adjusted diluted income per common share was $0.86, up from $0.60 in the same quarter last year, reflecting a 43.3% increase[27] Store Expansion - The company opened 55 new stores, ending the quarter with 1,826 stores, representing a 13.8% increase in store count from Q1 fiscal 2024[6] Cash Flow and Assets - Net cash provided by operating activities was $132,662, significantly higher than $26,439 in the same period last year[22] - Cash and cash equivalents at the end of the period were $427,462, up from $96,308 at the end of the same period last year[22] - The company reported a net increase in cash and cash equivalents of $95,744, compared to a decrease of $83,441 in the same period last year[22] Guidance and Projections - The company expects Q2 net sales to be between $975 million and $995 million, with a comparable sales increase of approximately 7% to 9%[13] - Full year net sales guidance is projected to be between $4.33 billion and $4.42 billion, with an expected comparable sales increase of 3% to 5%[13] - Full year net income is expected to range from $223 million to $249 million, with adjusted net income projected between $235 million and $261 million[13] Tax and CFO Transition - The effective tax rate for Q1 was 27.2%, up from 23.5% in Q1 fiscal 2024[6] - The company announced a CFO transition, with COO Ken Bull serving as interim CFO during the search for a new CFO[4]

Revenue Performance - For the three months ended April 30, 2025, consolidated revenues increased by 22.8% to $193.7 million compared to $157.7 million for the same period in 2024[93]. - The power industry services segment generated revenues of $160.4 million, a 45.4% increase from $110.3 million in the prior year, representing approximately 82.8% of consolidated revenues[94]. - The industrial construction services segment saw a revenue decrease of 33.2%, down to $29.2 million from $43.7 million year-over-year[96]. Profitability - Gross profit for the three months ended April 30, 2025, was approximately $36.9 million, with a gross profit margin of 19.0%, up from 11.4% in the same period of 2024[99]. - Net income for the three months ended April 30, 2025, was $22.6 million, a 186.1% increase compared to $7.9 million in the same period of 2024[93]. - Selling, General and Administrative Expenses for Q1 2025 were $12.5 million, representing 6.5% of consolidated revenues, compared to $11.4 million and 7.2% in Q1 2024[100]. - Other Income for Q1 2025 increased by 13.6% to $5.4 million from $4.8 million in Q1 2024, attributed to higher investment balances and increased earnings from cash equivalents[101]. - Net income for Q1 2025 was $22.6 million, significantly up from $7.9 million in Q1 2024, leading to an EBITDA of $30.3 million compared to $11.9 million in the prior year[126]. Project Backlog - The project backlog as of April 30, 2025, was $1.9 billion, an increase from $1.4 billion on January 31, 2025[80]. - The industrial construction services segment's project backlog increased to approximately $91.4 million from $53.2 million on January 31, 2025[92]. Cash and Liquidity - Cash and cash equivalents increased to $189.3 million as of April 30, 2025, up by $44.0 million from $145.3 million at January 31, 2025[104]. - Net cash provided by operating activities for Q1 2025 was $35.3 million, with a notable decrease in accounts receivable by $69.3 million[105]. - The company maintained net liquidity of $315.1 million as of April 30, 2025, an increase of $13.7 million from January 31, 2025[110]. - The company has $11.5 million remaining in cash investment commitments related to a solar fund, expected to be fulfilled in Fiscal 2026[120]. Tax and Obligations - The effective income tax rate for Q1 2025 was 24.3%, differing from the statutory federal tax rate of 21% due to state income taxes[102]. - As of April 30, 2025, the estimated amount of unsatisfied bonded performance obligations was approximately $0.6 billion, with additional bonds covering other risks totaling $45.7 million[118]. Future Projects - The company received a notice to proceed for a 1.2 GW combined-cycle natural gas-fired power plant in Texas, with construction expected to begin in summer 2026[85]. - The company entered into an EPC services contract for a 300 MW biofuel power plant in Ireland, with construction commencing in Fiscal 2026[86]. - The company is committed to expanding its capabilities in natural gas-fired power plants and renewable energy projects across the U.S., Ireland, and the U.K.[83]. Financing Activities - The company funded a loan of $5.0 million for the development phase of a natural gas-fired power plant, which remains outstanding[122].

Revenue Performance - Revenue for Q1 was $208 million, with non-GAAP diluted EPS at $0.29, exceeding guidance[6] - Total revenue for the three months ended April 30, 2025, was $208,097,000, a decrease of 5.9% from $221,277,000 in the same period of 2024[18] - For the three months ended April 30, 2025, Verint Systems reported a revenue of $208,097, a decrease of 6.0% compared to $221,277 for the same period in 2024[39] - Revenue denominated in non-U.S. dollars accounted for 21% of total revenue for the three months ended April 30, 2025[40] ARR Growth - Q1 ARR growth accelerated to 6% year-over-year, with subscription ARR reaching $710 million[6] - AI ARR increased by 24.1% year-over-year, totaling $354 million, representing nearly 50% of total ARR[6] - Subscription ARR increased to $709,992,000, reflecting a year-over-year growth of 6.3%[20] - AI ARR grew significantly by 24.1% year-over-year, reaching $353,906,000, while Non-AI ARR decreased by 7.0% to $356,086,000[20] - The company anticipates AI ARR to continue growing more than 20% for the year, an acceleration from the previous year[6] - For FYE 2026, the company expects subscription ARR to reach approximately $768 million, reflecting 8% year-over-year growth[8] Profitability Metrics - Non-GAAP diluted EPS guidance for the year is $2.93 at the midpoint of revenue guidance[8] - GAAP gross profit for the quarter was $138,902,000, resulting in a gross margin of 66.7%, down from 71.2% in the prior year[23] - Operating income fell to $5,072,000, with an operating margin of 2.4%, compared to 11.0% in the same quarter of 2024[27] - Net income attributable to Verint Systems Inc. was $1,622,000, a significant decline from $15,241,000 in the previous year[18] - Non-GAAP net income attributable to Verint Systems Inc. common shares was $18,426,000, compared to $42,557,000 in the same period last year[31] Cash Flow and Debt - Cash generation is projected at $960 million, with a cash contribution of $245 million at the midpoint[8] - The company plans to achieve 12% increase in free cash flow for the full year, driven by ARR growth and cash contribution margin expansion[6] - Free cash flow for the three months ended April 30, 2025, was $20,298, down from $54,588 in the prior year[36] - Total debt as of April 30, 2025, was $415,000,000, with net debt amounting to $233,681,000 after accounting for cash and cash equivalents[35] Tax and Liabilities - The company reported a GAAP effective income tax rate of 57.5%, up from 34.1% in the prior year[29] - The non-GAAP effective income tax rate for the year ending January 31, 2026, is approximately 11%, down from 12% for the year ended January 31, 2025[56] - The company’s total liabilities increased to $925,700 as of April 30, 2025, compared to $964,454 as of January 31, 2025[44] Asset Management - Total current assets decreased to $516,288 as of April 30, 2025, from $578,772 as of January 31, 2025[44] - Cash and cash equivalents at the end of the period were $180,870, down from $215,707 at the beginning of the period[46] Investment Activities - Cash used in investing activities for the three months ended April 30, 2025, was $5,421, compared to $14,135 in the prior year[46] - Preferred stock dividend payments for the three months ended April 30, 2025, were $8,000, down from $10,400 in the same period of 2024[46] Definitions and Metrics - Subscription Annual Recurring Revenue (ARR) is used to measure the underlying performance of subscription-based contracts, reducing fluctuations due to seasonality and contract terms[65] - AI Annual Recurring Revenue (AI ARR) represents the annualized quarterly run-rate value of active or signed SaaS agreements that include AI functionality[66] - Cash Generation, which includes ARR and nonrecurring revenue, provides an estimate of the cash-producing potential of the entire business[67] - Net Debt is defined as the sum of long-term and short-term debt minus cash and cash equivalents, helping evaluate capital structure and financial leverage[58] - Free Cash Flow is defined as GAAP cash provided by operating activities less capital expenditures, including property and equipment purchases[59] - Constant currency measures are used to assess performance excluding the effects of foreign currency fluctuations, facilitating comparison between periods[62] - Recurring revenue primarily consists of SaaS revenue and is expected to be renewed in the future, indicating stable income streams[60] - Nonrecurring revenue includes perpetual licenses and hardware, which are less predictable compared to recurring revenue[61] - Adjusted EBITDA is a non-GAAP measure that helps reduce variability caused by differences in capital structures and accounting policies, commonly used by investors[57]

Financial Performance - Argan reported consolidated revenues of $193.7 million for Q1 FY2026, a 23% increase from $157.7 million in Q1 FY2025[2] - The company achieved a gross profit of $36.9 million, resulting in a gross margin of 19.0%, compared to 11.4% in the prior year[7] - Net income for the quarter was $22.6 million, or $1.60 per diluted share, up from $7.9 million, or $0.58 per diluted share, in the same quarter last year[10] - EBITDA increased to $30.3 million, representing 15.6% of revenues, compared to $11.9 million, or 7.5% of revenues, in the prior year[10] Project Backlog and Pipeline - The project backlog reached a record $1.9 billion as of April 30, 2025, driven by new project awards including the Sandow Lakes Power Station[3] - Argan's robust project pipeline reflects increasing energy demand and the need for new energy resources due to aging facilities[4] Cash and Liquidity - Cash, cash equivalents, and investments totaled $546.5 million, an increase from $525.1 million at the end of January 2025[11] - The company maintained net liquidity of $315.1 million, up from $301.4 million at the end of January 2025[11] Expenses and Cost Management - Selling, general and administrative expenses rose to $12.5 million, but as a percentage of revenues, they decreased to 6.5% from 7.2% in the prior year[8] Strategic Commitment - The company remains committed to disciplined growth and strengthening its leadership role in energy infrastructure development[6]

Financial Performance - First quarter fiscal 2026 revenue was $98 million, a decrease of 9% from $107 million in the same quarter last year[5] - Subscription revenue for the first quarter was $38 million, representing a 14% year-over-year growth[5] - GAAP gross margin for the first quarter was 29%, up from 22% in the prior year's same quarter, while non-GAAP gross margin was 31%, up from 24%[6] - GAAP operating expenses for the first quarter were $82 million, down 10% from $90.7 million in the prior year[6] - The net loss for the first quarter was $57.1 million, a 20% improvement from a net loss of $71.8 million in the same quarter last year[6] - Non-GAAP net loss improved to $29,958 thousand, representing 31% of revenue, compared to $45,567 thousand or 43% of revenue in the same quarter last year[28] - Cash flows from operating activities showed a net cash used of $32,968 thousand, an improvement from $62,542 thousand in the previous year[25] Future Outlook - ChargePoint expects second quarter fiscal 2026 revenue to be between $90 million and $100 million[8] - The company aims to achieve positive non-GAAP adjusted EBITDA during a quarter in fiscal year 2026[8] Partnerships and Innovations - The company announced a new AC charging architecture featuring bidirectional charging for future models across North America and Europe[12] - ChargePoint formed a partnership with Eaton Corporation to integrate EV charging and infrastructure solutions, co-developing new technologies[12] Cash and Assets - As of April 30, 2025, ChargePoint had cash and cash equivalents of $196.3 million and no debt maturities until 2028[6] - Cash, cash equivalents, and restricted cash at the end of the period totaled $196,349 thousand, down from $292,259 thousand, reflecting a decrease of 32.8%[25] - Total current assets decreased to $554,317 thousand from $566,574 thousand, a decline of 2.3%[24] Liabilities and Equity - Total liabilities increased to $779,020 thousand from $760,704 thousand, marking a rise of 2.4%[24] - The company reported a total stockholders' equity of $118,588 thousand, down from $137,471 thousand, a decrease of 13.7%[24] Cost Structure - GAAP cost of revenue was $69,654 thousand, representing 71% of revenue, compared to $83,432 thousand or 78% in the prior year[27] - Non-GAAP operating expenses as a percentage of revenue decreased to 58% from 62% year-over-year[27]

Revenue Performance - Total revenue for Q4 2025 was $115.4 million, a decrease of 5.0% year-over-year, while full-year revenue was $484.2 million, down 1.2%[5] - Direct to Consumer (DTC) revenue in Q4 2025 was $100.1 million, an 8.5% decrease year-over-year, while full-year DTC revenue was $415.8 million, down 4.7%[8] - Commerce revenue in Q4 2025 was $15.4 million, up 26.5% year-over-year, and for the full year, it was $68.3 million, a 27.2% increase compared to the prior year[5] - Total revenue for the fiscal year ended March 31, 2025, was $484.182 million, a decrease of 11% from $535.315 million in 2024[27] - Direct to Consumer revenue decreased to $415.837 million in 2025 from $471.994 million in 2024, representing a decline of 12%[27] Profitability Metrics - Adjusted EBITDA for Q4 2025 was $5.2 million, marking a $3.0 million improvement, and for the full year, it was $5.4 million, an improvement of $16.0 million compared to the previous year[5] - The company reported a net loss of $32.878 million for the fiscal year 2025, an improvement from a net loss of $37.010 million in 2024[33] - The net loss for Q4 2025 was $(6.1) million, an increase of $1.2 million from the previous year, while the full-year net loss was $(32.9) million, a $4.1 million improvement[5] - The net loss margin for the fiscal year ended March 31, 2025, was (6.79)%, improving from (7.55)% in 2024[45] - Adjusted net income for the three months ended March 31, 2025, was $2,340,000, compared to an adjusted net loss of $(485,000) in 2024[44] - The adjusted net income (loss) margin for the fiscal year ended March 31, 2025, was (0.89)%, an improvement from (4.08)% in 2024[44] Cash Flow and Liquidity - The cash and cash equivalents balance as of March 31, 2025, was $94.0 million, which included $10.5 million in share repurchases during Q4[14] - Cash and cash equivalents decreased to $94.022 million as of March 31, 2025, compared to $125.495 million in 2024, indicating a decline of 25%[31] - Free cash flow for the three months ended March 31, 2025, was $(11,987,000), compared to $(3,174,000) for the same period in 2024[48] Operational Metrics - Total Orders for Q4 2025 were 3,166,000, down from 3,499,000 in the same period last year, while full-year Total Orders were 13,210,000, a decrease from 13,924,000[23] - Average Order Value (AOV) for Q4 2025 was $31.05, slightly down from $31.25 in the previous year, while full-year AOV was $31.04, compared to $31.34 in the prior year[23] Future Outlook - The company expects Q1 2026 revenue guidance of $99.0 million to $101.0 million, reflecting a decline from $116.2 million in the previous year due to reduced DTC marketing and tariff impacts[14] - The company plans to focus on new product development and market expansion strategies to drive future growth[27] Cost and Expenses - Capital expenditures for the fiscal year ended March 31, 2025, were $(6,157,000), down from $(8,831,000) in 2024[48] - The company recorded restructuring costs of $3,829,000 for the fiscal year ended March 31, 2025, compared to $1,660,000 in 2024[44] - Technology modernization costs for the fiscal year ended March 31, 2025, amounted to $2,400,000, reflecting ongoing investment in infrastructure[45] Balance Sheet Highlights - Total current liabilities increased to $124.040 million in 2025 from $75.478 million in 2024, marking a significant rise of 64%[31] - Inventory levels rose to $88.126 million in 2025, up from $84.177 million in 2024, indicating a 5% increase[31] - The company’s total assets decreased to $260.635 million in 2025 from $298.588 million in 2024, a decline of 13%[31]

Financial Performance - Record revenue in Q1 of fiscal year 2026 reached $66.3 million, up 10% year-over-year[1] - First quarter gross margin was 55%, compared to 52% in the same quarter of fiscal year 2025; non-GAAP gross margin was 59%, up from 55%[6] - First quarter adjusted EBITDA was $1.2 million, a significant improvement from a loss of $8.4 million in the same quarter of fiscal year 2025[6] - The Company reported a net loss of $12,628,000 for the quarter, an improvement compared to a net loss of $29,293,000 in the prior year[44] - Net loss for the three months ended April 30, 2025, was $12,628,000, a significant improvement from a net loss of $29,293,000 in the same period of 2024, representing a reduction of approximately 57%[47] - Adjusted EBITDA for the same period was $1,199,000, compared to a loss of $8,396,000 in 2024, indicating a positive turnaround[48] - Non-GAAP net income for the three months ended April 30, 2025, was $1,072,000, contrasting with a loss of $15,136,000 in 2024[49] Cash Flow and Liquidity - The company generated $17.3 million of net cash from operating activities and achieved positive free cash flow of $8.0 million for the first time[1] - Cash and cash equivalents at the end of the period increased to $145,604,000 from $125,733,000 in the previous year, marking a year-over-year increase of approximately 16%[45] - Free cash flow for the three months ended April 30, 2025, was $8,002,000, a recovery from a negative free cash flow of $15,653,000 in 2024[53] - The Company reported a net cash provided by operating activities of $17,346,000 for the three months ended April 30, 2025, compared to a cash used of $4,297,000 in 2024, showcasing improved cash flow management[45] Backlog and Future Revenue Potential - Remaining Performance Obligations (RPOs) increased by 262% year-over-year to $451.9 million; backlog grew by 140% year-over-year to $527.0 million[1] - The company expects to recognize approximately 45% of its backlog over the next 12 months, indicating strong revenue visibility[52] - Remaining performance obligations as of April 30, 2025, totaled $451,928,000, up from $412,829,000 at the end of January 2025, indicating growth in future revenue potential[52] Customer and Market Expansion - Planet was awarded an eight-figure ACV contract by a European defense & intelligence customer for PlanetScope and Maritime Domain Awareness products[7] - The company expanded its contract with the German government to include water monitoring services and insights from Planetary Variables[13] - The Net Dollar Retention Rate is a key metric for assessing revenue growth from existing customers, reflecting the Company's ability to retain and expand its customer base[38] - The Company’s EoP ACV book of business includes only active contracts, excluding self-service paying users, which helps in accurately assessing recurring revenue potential[33] - The EoP customer count at the end of the period is a critical indicator of market penetration and customer adoption of the Company's platform[35] Operational Efficiency - Capital expenditures as a percentage of revenue are monitored to evaluate the efficiency of investments relative to revenue generation, aligning with the Company's agile space systems strategy[36] - Total assets increased to $658,390,000 as of April 30, 2025, compared to $633,796,000 at the end of January 2025[42] - The Company’s total liabilities rose to $213,588,000, up from $192,510,000, indicating a need for careful management of financial obligations[42] Guidance and Projections - For Q2 of fiscal year 2026, revenue is expected to be in the range of $65 million to $67 million, with a non-GAAP gross margin of approximately 56% to 57%[10] - For the full fiscal year 2026, revenue is projected to be between $265 million and $280 million, with an expected adjusted EBITDA loss of approximately $12 million to $7 million[11] Product Development - Planet released a new Aircraft Detection Analytic Feed, automating the detection of aircraft globally, enhancing its AI-powered product offerings[13] - Non-GAAP gross profit for the three months ended April 30, 2025, was $38,850,000, compared to $33,348,000 in 2024, reflecting an increase of approximately 16.5%[48] - GAAP gross margin improved to 55% in 2025 from 52% in 2024, demonstrating enhanced operational efficiency[48]