The Recent York Stock Exchange welcomes Planet (NYSE: PL), on Wed. Dec. eighth, in celebration of its listing. To honor the occasion, Will Marshall, Co-Founder & CEO, and Robert Schingler Jr., Co-Founder & Chief Strategy Officer, joined by Stacey Cunningham, NYSE President, ring The Opening Bell®.
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Planet on Wednesday delivered one other record quarter of revenue, nearing the highest end of its full-year revenue forecast.
“The fourth quarter capped off an incredible 12 months for Planet. For the total 12 months, we nearly tripled our revenue growth rate,” Planet co-founder and CEO Will Marshall said in a press release.
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The satellite-imagery and data-analysis company reported an adjusted EBITDA loss widened to $17.7 million for the fourth quarter from $16.7 million within the year-earlier period. Its net loss narrowed to $37.8 million, or 14 cents a share, from $46 million, or 26 cents. Planet brought in $53 million in revenue throughout the period, a 43% increase from $37.1 million a 12 months prior.
For the total 12 months, Planet’s revenue got here in at $191.3 million — at the highest end of its previously projected range of $188 million to $192 million.
Planet follows a fiscal 12 months calendar that ends on Jan. 31.
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Planet Chief Financial Officer Ashley Johnson noted that the corporate finished the quarter with $408.8 million in money.
The corporate can also be making its sixth acquisition up to now, signing a deal to accumulate Slovenian satellite data evaluation platform Sinergise. Financial terms weren’t disclosed.
Planet said acquiring Sinergise, a long-standing partner, is predicted to further its access to European markets.
