Record quarterly revenue to end a solid year
The New York Stock Exchange hosts Planet (NYSE: PL) on Wednesday. December 8, on the occasion of his registration. To honor the occasion, Will Marshall, Co-Founder and CEO, and Robert Schingler Jr., Co-Founder and Chief Strategy Officer, joined by NYSE President Stacey Cunningham, ring The Opening Bell®.
Planet Wednesday posted another record revenue quarter, nearing the top of its full-year revenue forecast.
“The fourth quarter capped off an incredible year for Planet. Over 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 slightly from a loss of $16.7 million in the same period a year ago. Planet generated $53 million in revenue in the fourth quarter, a 43% increase from $37.1 million a year earlier.
For the full year, Planet’s revenue was $191.3 million, at the high end of its previously forecast range of $188-192 million.
Planet follows a fiscal calendar that ends on January 31.
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Planet CFO Ashley Johnson noted that the company ended the quarter with $408.8 million in cash.
The company is also making its sixth acquisition to date, signing an agreement to acquire Slovenian satellite data analytics platform Sinergise. Financial terms were not disclosed.
Planet said the acquisition of long-time partner Sinergise should help its access to European markets.