Record quarterly earnings to cap a strong year
The New York Stock Exchange welcomes Planet (NYSE: PL) on Wednesday. December 8, in honor of its listing. To honor the occasion, Will Marshall, co-founder and CEO, and Robert Shingler, Jr., co-founder and chief strategy officer, joined by Stacey Cunningham, president of the NYSE, are calling The Opening Bell®.
NYSE
planet on Wednesday, the company posted another record quarterly earnings, approaching the upper end of its full-year revenue guidance.
“The fourth quarter ended with an incredible year for Planet. For the full year, we nearly tripled our revenue growth rate,” Planet co-founder and CEO Will Marshall said in a press release.
The satellite imagery and data analytics company reported an adjusted EBITDA loss of $17.7 million for the fourth quarter, up from a loss of $16.7 million in the same period a year ago. Planet’s fourth-quarter revenue was $53 million, up 43% from $37.1 million a year earlier.
For the full year, Planet’s revenue was $191.3 million, the upper end of the previously forecast range of $188 million to $192 million.
The planet follows a fiscal year calendar that ends on January 31st.
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Planet CFO Ashley Johnson noted that the company ended the quarter with $408.8 million in cash.
The company also makes its sixth acquisition to date, signing a deal to acquire the Slovenian satellite data analysis platform Sinergise. Financial terms of the deal were not disclosed.
Planet said the acquisition of Sinergise, a longtime partner, is expected to increase its access to European markets.
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