Planet Labs PBC ( PL ) reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter. 

The Details: Planet Labs reported adjusted losses of two cents per share and third-quarter revenue of $61.26 million, up from $55.38 million from the same period last year.

Percent of Recurring Annual Contract Value (ACV) for the third quarter was 97%.

End of Period (EoP) Customer Count increased 4% year-over-year to 1,015 customers.

Third quarter Non-GAAP Gross Margin was a record 64%, compared to 52% in the third quarter of fiscal year 2024.

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“We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest-ever quarter of ACV bookings, helping lay the foundation for future growth,” said Will Marshall, Planet’s CEO.

“We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data,” Marshall added.

Outlook: Planet Labs expects fourth-quarter revenue in a range of $61 million to $63 million.

PL Price Action: According to Benzinga Pro, Planet Labs shares are down 8.17% after-hours at $3.71 at the time of publication Monday. 

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