Planet Labs PBC Q1 Loss Decreases, Beats Estimates

(RTTNews) - Planet Labs PBC (PL) released Loss for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at -$29.3 million, or -$0.10 per share. This compares with -$34.4 million, or -$0.13 per share, in last year's first quarter.

Excluding items, Planet Labs PBC reported adjusted earnings of -$15.1 million or -$0.05 per share for the period.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.6% to $60.4 million from $52.7 million last year.

Planet Labs PBC earnings at a glance (GAAP) :

-Earnings (Q1): -$29.3 Mln. vs. -$34.4 Mln. last year. -EPS (Q1): -$0.10 vs. -$0.13 last year. -Revenue (Q1): $60.4 Mln vs. $52.7 Mln last year.