Planet Labs PBC Sees Q3 Revenue $54M-$56M Vs $57.03M Est.; FY24 Revenue $216M-$223M Vs $230.88M Est.
Portfolio Pulse from Happy Mohamed
Planet Labs PBC has provided its financial outlook for Q3 and FY24, expecting revenues of $54M-$56M and $216M-$223M respectively, both lower than estimates. The company also expects Non-GAAP Gross Margin of 50%-52% for Q3 and 52%-54% for FY24. Adjusted EBITDA loss is projected to be $15M-$13M for Q3 and $63M-$55M for FY24. The outlook excludes charges associated with recent headcount reduction.
September 07, 2023 | 8:19 pm
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Planet Labs PBC's lower than expected revenue projections for Q3 and FY24 may negatively impact its stock price.
Lower than expected revenue projections often lead to a decrease in a company's stock price as it indicates potential financial difficulties or slower growth. This is particularly relevant for Planet Labs PBC as the company is also expecting a significant Adjusted EBITDA loss.
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