Planet Labs reports Q4 EPS (4c), consensus (5c)

Reports Q4 revenue $86.8M, consensus $78.2M. “Planet had a transformational year driven by strong momentum in satellite services, including most recently with Sweden, as well as launching 40 satellites, and inking an R&D partnership with Google to explore data centers in space,” said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. “We delivered record revenue, with Q4 growing 41% year-on-year, and ended the year with $900 million of backlog, representing 79% growth year-on-year. With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond. Consequently we’re leaning in and investing in the huge market opportunity in front of us. Just as satellite services were transformative last year, we expect AI to be transformative this year, enabling us to unlock massive markets even faster. In all, we’re playing to win.”