Planet Labs: Work force reduction, Singergise acquisition will help assure EBITDA-profitability by end 2024

by Peter B. de Selding

PARIS — Satellite geospatial imagery provider Planet Labs PBC said its purchase of Slovenia-based Sinergise will help move smaller Planet customers toward a “self-service” business model using Sinergise’s Sentinel Hub cloud-based application programming interface (API), freeing the sales force to focus on larger deals.

The Sinergise transaction, valued at $22.4 million in cash and 6.75 million shares of Planet stock — valued at about $20.8 million — closed Aug. 4, later than Planet expected. That will reduce Sinergise’s revenue contribution to Planet . . .

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