By Adriano Marchese

Planet Labs' loss narrowed in the first quarter on the back of better-than-expected revenue, a momentum the company expects to continue into the full year thanks to strong demand.

The Earth imaging company on Thursday reported a net loss of $12.6 million, compared with a loss of $29.3 million. On a per-share basis, this was a loss of 4 cents, narrowing from 10 cents in the prior-year period.

Excluding exceptional costs and one-off items, adjusted earnings per share came to nil, which was better than the loss of 4 cents analysts expected, according to FactSet.

Revenue rose 10% to $66.3 million, also better than analysts projections of $65.3 million for the period.

Chief Executive Officer and Chairperson Will Marshall said looking ahead, the company is responding to strong demand signals by prioritizing the delivery of global insights at scale and rapidly expanding the its satellite services offering.

For the second quarter, revenue is expected to come in between $65 million and $67 million, while analysts expect $65.3 million.

Adjusted loss before interest, taxes, depreciation and amortization is expected to be in the range of approximately $2 million to $4 million for the quarter, while capital expenditures are projected to be $17 million to $22 million.

Looking beyond to the full year, Planet Labs said it projects revenue of $265 million to $280 million, with analysts expecting $271.3 million.

Adjusted Ebitda loss is expected to be in the range of $7 million and $12 million, and capital expenditures between $50 million and $65 million.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

June 05, 2025 06:42 ET (10:42 GMT)

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