Planet Labs PBC (PL) has reported a decrease in losses for the fourth quarter compared to the previous year, although it did not meet market expectations.
The firm posted a loss of $30.1 million, or $0.11 per share, a decrease compared with a loss of $37.8 million, or $0.14 per share, in the same period last year. However, the loss was more than what market analysts had predicted. According to Thomson Reuters, the consensus was a loss of $0.06 per share, excluding special items.
There was a bright spot, as the company's quarterly revenue increased 11.1% to $58.9 million, up from $53.0 million in the same period last year.
Here is a quick review of the earnings of Planet Labs PBC according to Generally Accepted Accounting Principles (GAAP):
- The loss for the fourth quarter was $30.1 million, down from $37.8 million last year.
- Loss per share for the fourth quarter was $0.11, down from $0.14 last year.
- Revenue for the fourth quarter was $58.9 million, up from $53.0 million last year.
Looking ahead, the company expects its revenue to be between $58 million and $61 million in the next quarter.
