2023-04-20 06:04:00 ET
Two years ago, with just months to go before its IPO , then- space SPAC Planet Labs (NYSE: PL) made some pretty amazing promises to investors. After growing sales just 18% in fiscal 2021, and an even slower 15% in fiscal 2022, this operator of what's already the world's largest constellation of Earth-observation satellites -- more than 200 satellites in orbit already -- would absolutely stomp on the accelerator post-IPO. Planet Labs would accelerate to 47% revenue growth in fiscal 2023, then 51% in fiscal 2024, then 55 % in fiscal 2025... before leveling off and posting 54% growth in fiscal 2026.
So how are these plans working out for Planet Labs?
Investors got their latest insight into how well Planet Labs' performance is meeting promises late last month, when the space company announced financial results for its fourth and final quarter of fiscal 2023. The bad news is that Planet Labs didn't quite meet expectations last year. The good news is that it got pretty darned close.
For further details see:
Can Planet Labs Live Up to the Hype?