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Closing Bell

Manifest Space: Planet Labs Posts Quarterly Results with CEO Will Marshall 3/20/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 20 March 2025

⏱️ 17 minutes

🧾️ Download transcript

Summary

Planet Labs marked its first quarter of profitability by adjusted EBITDA. The satellite imagery and earth observation data company saw its backlog surge in the fiscal fourth quarter by 115%. Co-founder, Chair & CEO Will Marshall joins Morgan Brennan to discuss the quarter and why he sees the company as being at an inflection point.

Transcript

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0:00.0

Planet Labs reporting quarterly results today, marking the first quarter of profitability by one metric, adjusted EBITA.

0:09.1

The satellite imagery and Earth Observation Data Company saw its backlog surge in the fiscal fourth quarter by 115%

0:15.6

as it inked deals with Japan's J-Star and others.

0:19.5

Planet's chairperson, CEO and co-founder Will Marshall says the company is at an inflection

0:23.6

point.

0:24.6

Last year was quite an exciting and transformational year at Planet.

0:28.6

We launched over 70 satellites, including our first Tanager satellite, a second Pelican spacecraft,

0:34.6

and we launched our Planet Insights platform. We realigned our market

0:40.0

opportunity around vertical markets. We did move towards solutions selling so many things,

0:46.3

but that gives us a pretty strong results. And most of all, it set us up really well for

0:52.5

the coming year. Planet touts the largest Earth observation fleet of imaging satellites.

0:58.0

It designs, builds, and operates them for both government and commercial customers.

1:02.0

And the fleet is getting bigger.

1:04.0

On this episode, Planet's Will Marshall on new satellites, working with AI-chip giant

1:09.0

NVIDIA, and how artificial intelligence is unlocking the

1:12.1

promise of space-based data. I'm Morgan Brennan and this is Manifest Space.

1:20.3

Joining me now, Planet Labs CEO, co-founder and chairperson Will Marshall. Well, it's great to speak

1:26.3

with you on the heels of Q4

1:28.6

earnings here. So let's start right there in terms of what we saw for the quarter and the fact

1:33.9

that you're reporting record revenue, record gap and non-gap gross margins and a huge spike

1:39.3

in your backlog as well. Yeah, and we're really pleased about that because it really gives us

1:44.1

a lot of visibility into

...

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