Planet exceeds business targets, advancing through 2020 with momentum

Planet announced that Q2 was one of their best quarters and they successfully beat their targets. They doubled the amount of new business booked in the quarter compared to the same period a year ago.

Planet exceeds business targets, advancing through 2020 with momentum
Planet exceeds business targets, advancing through 2020 with momentum

Planet exceeds business targets, advancing through 2020 with momentum

Planet made significant changes in 2020 due to the onset of COVID-19, but they remain focused on their mission to provide data into the hands of their customers to use space to help life on Earth. Planet announced that Q2 was one of their best quarters and they successfully beat their targets. They doubled the amount of new business booked in the quarter compared to the same period a year ago. They’re seeing an increase of inbound interest and their results indicate that remote sensing data is extremely vital to numerous industries especially when in-person travel is limited, and personnel health and safety is a top priority.

In the first half of 2020, Planet increased first-time customers by 21 percent, compared to the same period in 2019.  They witnessed over 100 percent year-over-year growth across all of their product lines. They are experiencing huge demand for their data by users in civil government, forestry, the U.S. federal government, academia and international government. These customers are using Planet’s data to remotely and safely monitor infrastructure, enforce code and permitting regulations and track assets. They have also expanded their partnership with Esri, enabling users of the market-leading GIS platform–especially in state and local government–to purchase and access Planet’s data directly.

They are delighted that their business is proving resilient in this challenging environment, and the good news continues with regard to their people too. Their teams in Berlin and Europe have grown to support increased demand and they have warmly welcomed talented new leaders to the company, including Ashley Johnson as their CFO, Rosanne Saccone as their CMO, AND Wendy Tan White to their Board of Directors. Recognizing their role in helping to stop social injustice, they’re doubling down on their efforts to make Planet a diverse and inclusive environment. And on space and product side, they have also launched three more SkySats and a new suite of capabilities to their market-leading high-resolution product line, among other product updates.

Planet is focused on finishing 2020 strong, making this their best year yet. They will be hosting their second annual user conference, Planet Explore, in October, continuing their work with journalists, researchers and academia, and launching more high and medium resolution satellites on multiple rockets. Users can expect to see more product enhancements from them that will help them capitalize on their capabilities and data now. They have learned from COVID-19 and these tumultuous times that solutions are needed daily, weekly and monthly, and a promise for next year doesn’t help one today.

This year will be hard for all, but they hope that by supporting each other and continuing to deliver for their users, they might be a bright spot in a bleak landscape, and play some small part in bringing about a better future.