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In the first half of 2021, researchers using Planet imagery via NASA CSDA mapped snow-covered areas using machine learning.
In the first half of 2021, researchers using Planet imagery via NASA CSDA evaluated corn and soybean yields at the sub-field scale.
The expanded Planet contract under NASA CSDA makes roughly 280,000 users eligible to access PlanetScope imagery for scientific research.
In the first half of 2021, researchers using Planet imagery via NASA CSDA monitored melting summer ice in Greenland.
Planet expanded its contract with the NASA Commercial SmallSat Data Acquisition (CSDA) Program to provide access to PlanetScope imagery for scientific research use for all U.S. Federal Civilian researchers and National Science Foundation funded researchers, including their contractors and grantees.
Planet largely operates a subscription-based business model in which customers purchase proprietary data feeds.
The transaction has been unanimously approved by dMY IV’s Board of Directors and Planet’s Board of Directors and is expected to close later 2021 subject to approval by dMY IV’s and Planet’s stockholders and other customary closing conditions.
Planet operates largely on a subscription-based business model in which customers purchase proprietary data feeds.
After paying expenses and debt, the SPAC transaction will provide Planet with $434,000,000 in cash.
The Planet–dMY Technology Group IV merger agreement includes an additional $200,000,000 in a private investment in public equity (PIPE) concurrent round.
dMY IV holds $345,000,000 in cash in its trust account assuming no redemptions, and the balance after transaction expenses and paydown of Planet’s existing debt together with approximately $200,000,000 in PIPE proceeds will be used to fund operations and support growth initiatives.
Planet will merge with dMY Technology Group, Inc. IV, a SPAC that raised $345,000,000 in a public offering in March.
Planet projects revenues will reach $693,000,000 in fiscal year 2026.
Planet’s management team led by Will Marshall (CEO, Co-Founder and Chair), Robbie Schingler (Chief Strategy Officer, Co-Founder and Director), Ashley Johnson (CFO/COO), and Kevin Weil (President, Product and Business Strategy) will continue to lead the public company following the transaction.
The SPAC transaction values Planet at a post-transaction equity value of nearly $2,800,000,000.
Planet’s revenues grew from $43,000,000 in 2016 to $113,000,000 in the fiscal year that ended 2021-01-31 of the latest reported year.
Satellogic announced a SPAC deal that will raise $271,000,000 one day before Planet announced its SPAC deal.
Planet currently operates 21 SkySat high-resolution satellites capable of selected imaging at resolutions as sharp as 0.5 m.
Planet expects to reach breakeven in fiscal year 2025 and to have $140,000,000 in free cash flow in fiscal year 2026.
Planet currently operates more than 150 Dove cubesats that provide daily medium-resolution imaging of the planet.