Planet Labs Stock Drives Higher After Q4 Beats Estimates

Planet Labs PBC (NYSE: PL) reported fourth-quarter revenue of $86.82 million, surpassing the consensus estimate of $78.53 million and up from $61.55 million year-over-year. The company achieved record annual revenue of $308 million, with a 106% year-over-year increase in remaining performance obligations (RPOs) to $852 million. Following the earnings report, PL stock rose 8.67% to $26.96 in extended trading, and the company expects first-quarter revenue between $87 million and $91 million, exceeding analyst expectations.