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Planet Labs reports Q4 recurring annual contract value at 94%
The Fly

Planet Labs reports Q4 recurring annual contract value at 94%

The company states: "Percent of Recurring Annual Contract Value (ACV) for the fourth quarter was 94%. End of Period (EoP) Customer Count increased 15% year-over-year to 882 customers. Net dollar retention rate for the full year was 131%, while net dollar retention rate with winbacks was 134%. Fourth quarter gross margin expanded to 55%, compared to 37% in the fourth quarter of fiscal year 2022. Fourth quarter Non-GAAP Gross Margin(1) expanded to 58%, compared to 42% in the fourth quarter of fiscal year 2022. Full year gross margin expanded to 49%, compared to 37% in fiscal year 2022. Full year Non-GAAP Gross Margin(1) expanded to 53%, compared to 38% in fiscal year 2022."

Published first on TheFly

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