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Planet Reports Financial Results for Third Quarter of Fiscal 2022 Delivers Record Third Quarter Revenue of $ 31.7 Million Reaffirms Full Year Revenue Outlook for Fiscal Year 2022 End of Period Customer Count Increased 32 % Year - Over - Year Fully Capitalized Following Receipt of Over $ 590m in Gross Proceeds from NYSE Debut San Francisco , CA – December 13 , 2021 - Planet Labs PBC ( “ Planet ” or the “ Company ” ) , a leading provider of daily data and insights about Earth , today announced financial results for its third fiscal quarter that ended October 31 , 2021 , demonstrating its continued execution and the momentum of its unique data subscription business . Last week , Planet listed on the New York Stock Exchange under the ticker " PL " following the close of its business combination with dMY Technology Group , Inc. IV , a special purpose acquisition company ( dMY IV ) . Third Quarter FY2022 Financial Highlights : • • • • Revenue increased 16 % year - over - year to $ 31.7 million . Percent of Recurring Annual Contract Value ( ACV ) was 94 % , compared to 93 % in the third quarter of fiscal year 2021 . End of Period ( EOP ) Customer Count increased 32 % year - over - year to 742 customers . Gross Margin percentage expanded to 34 % , compared to 27 % in the third quarter of fiscal year 2021. Non - GAAP Gross Margin percentage expanded to 35 % , compared to 28 % in the third quarter of fiscal year 2021 . Net loss was $ 41.5 million and Adjusted EBITDA was ( $ 12.3 ) million , driven by increased investments in R & D , sales and marketing and public company costs . Definitions of the non - GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below . " Our strong performance this past quarter continues to demonstrate Planet's ability to capture the market opportunity ahead of us , " said Will Marshall , Co - Founder , Chief Executive Officer and Chairperson of Planet . " With over $ 590 million gross proceeds raised as part of our debut on NYSE last week , we expect that we are fully capitalized to invest in our key growth initiatives , which include expanding our sales force , reinforcing the power of Planet's proprietary Earth data , and growing our software organization to expand our analytic solutions . As digital transformation and sustainability continue to drive massive new demands across businesses and governments worldwide , we've never been more confident in Planet's commercial momentum and opportunity for impact . " Ashley Johnson , Planet's Chief Financial and Operating Officer added : “ We are very excited by both our public listing and our rapidly growing , diversified global customer base . As our financial results demonstrate , Planet's platform continues to drive tremendous value to companies in numerous vertical markets . We remain focused on executing against our top line growth plan and capitalizing on the robust demand that we see in the market for Planet's data . During the third quarter , we achieved sales pipeline growth of 46 % on a year - over - year basis . We see meaningful opportunities to continually create new markets , as well as grow our share in private and public sector customers alike . "