Planet Labs: On course to EBITDA-positive by end-2024 despite slow commercial growth; government still the priority

by Peter B. de Selding

LA PLATA, Maryland — Satellite geospatial imagery provider Planet Labs PBC reported an 11% growth in revenue for the three months ending Oct. 31 as continued strong sales to civil government and defense and intelligence agencies more than offset weakness in the commercial market.

Planet said it had $315 million of cash as of Oct. 31, more than enough to reach cash-flow break even by the end of 2024 without needing to raise new capital.

Planet has been adjusting its sales posture to focus on larger government . . .

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