Planet reports financial results for the second quarter of fiscal 2025

Planet Labs PBC (NYSE: PL) (“Planet” or the “Company”), a leading provider of daily data and insights about the Earth, today announced financial results for the period ended July 31, 2024.

“In the second quarter, we saw continued strength with government customers, particularly in the defense and intelligence sector, where revenue increased over 30% year-over-year and we saw continued demand for our large-scale surveillance solution combined with AI,” said Will Marshall, co-founder, CEO and chairman of the board of Planet. “We restructured the business toward an industry-appropriate operating model and improved overall operating efficiency across the company. We are pleased with the gross margin increase and progress toward our profitability targets we recorded during the quarter, as well as the launch of 36 SuperDoves and Planet’s first hyperspectral satellite last month.”