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“The fourth quarter capped off an incredible year for Planet. For the full year, we nearly tripled our revenue growth rate,” Planet co-founder and CEO Will Marshall said in a press release.
The satellite-imagery and data-analysis company reported an adjusted EBITDA loss widened to $17.7 million for the fourth quarter from $16.7 million in the year-earlier period. Its net loss narrowed to $37.8 million, or 14 cents a share, from $46 million, or 26 cents. Planet brought in $53 million in revenue during the period, a 43% increase from $37.1 million a year prior.
For the full year, Planet’s revenue came in at $191.3 million — at the top end of its previously projected range of $188 million to $192 million.
Planet follows a fiscal year calendar that ends on Jan. 31.
Planet Chief Financial Officer Ashley Johnson noted that the company finished the quarter with $408.8 million in cash.
The company is also making its sixth acquisition to date, signing a deal to acquire Slovenian satellite data analysis platform Sinergise. Financial terms were not disclosed.
Planet said acquiring Synergise, a long-standing partner, is expected to further its access to European markets.
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