Planet Labs PBC Sees Q2 Revenue $53M-$55M Vs $60.17M Est.; FY24 Revenue $225M-$235M Vs $257.07M Est.
Portfolio Pulse from Happy Mohamed
Planet Labs expects Q2 FY24 revenue of $53M-$55M, below the $60.17M estimate, and FY24 revenue of $225M-$235M, below the $257.07M estimate. The company anticipates 11% YoY growth for Q2 and 20% YoY growth for FY24.
June 08, 2023 | 8:22 pm
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NEGATIVE IMPACT
Planet Labs' lower-than-expected Q2 and FY24 revenue forecasts may negatively impact its stock price.
Planet Labs' revenue forecasts for Q2 and FY24 are below estimates, which may disappoint investors and lead to a decline in the stock price. The company's anticipated YoY growth rates of 11% for Q2 and 20% for FY24 may not be enough to offset the lower revenue expectations.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100