Q2 2025 Planet Labs PBC Earnings Call Transcript
Key Points
- Strong growth in government sector with revenue growth of over 20% year-on-year in Q2.
- Successful launch of the first hyperspectral satellite, marking a significant technological advancement.
- Closed multiple seven-figure deals with international defense and government agencies.
- Improved gross margin to 58%, driven by efficiencies in cloud infrastructure and mix of business.
- Solid financial position with approximately $249 million in cash and no debt outstanding.
- Macroeconomic headwinds and challenges in the agricultural sector impacting commercial revenue.
- Sequential decline in North American revenue, particularly in the commercial sector.
- Net dollar retention rate at 99%, reflecting delays in bookings for certain large opportunities.
- Incurred $10.5 million in one-time non-recurring charges related to restructuring.
- Guidance for Q3 includes an adjusted EBITDA loss between $2 million and $5 million.
(audio in progress) New Alliance persistent surveillance from space program or APSS will evaluate using both Planet's board area monitoring and tasking solutions to perform detailed tracking and analysis of foreign military activities, monitor infrastructure and fill intelligence gap.
We're proud to partner with NATO in this time of heightened global conflict to reinforce multinational alliances to enhance global security. And we look forward to developing our relationship. While this is a introductory, do we view it as strategically important. Additionally, we closed a seven figure deal with an international defense customer, which includes an expansion of high resolution tasking and a pilot plan of script data enhanced with AI capabilities for our partners.
Himax for maritime domain awareness, as discussed on previous calls, is part of a growing trend we see in using AI on place daily scan imagery to gather intelligence more efficiently and speed customer time to value. Overall demand in the
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