Planet Labs PBC(US:PL)2021-12-14 03:32Business 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]