PL - Planet Labs Posts Weaker-Than-Expected Q2 Results Slashes FY24 Revenue Outook | Benzinga
Planet Labs PBC (NYSE: PL) reported a Q2 FY24 revenue increase of 11% Y/Y to $53.8 million, missing the consensus of $54.14 million.
EPS loss of $(0.14) came below the consensus of $(0.08).
The company's End of Period (EoP) customer count rose 10% Y/Y to 944 customers, with Recurring Annual Contract Value coming in at 92%.
Adjusted gross margin remained flat Y/Y at 52% in the quarter.
The company ended the quarter with $367.8 million in cash, cash equivalents, and short-term investments.
Will Marshall, ...