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Why Planet Labs Stock Is Plummeting Lower This Week
Key takeaways
- PL NVDA Shares of the leading Earth observation satellite services company Planet Labs (NYSE: PL) are down 35% this week after the company reported first-quarter earnings and announced an equity offering on Friday.
- grew its backlog by 72% to over $900 million
- maintained a solid net dollar retention rate of 114%
PL NVDA Shares of the leading Earth observation satellite services company Planet Labs (NYSE: PL) are down 35% this week after the company reported first-quarter earnings and announced an equity offering on Friday. Starting with Planet Labs Q1 earnings -- things weren t nearly as bad as this week s decline might suggest. The company:
grew its backlog by 72% to over $900 million
maintained a solid net dollar retention rate of 114%
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