Planet Labs PBC (PL) 2023 Q3 法說會逐字稿

Good afternoon. Thank you for attending the Planet Labs PBC Third Quarter of Fiscal 2023 Earnings Call. (Operator Instructions)

下午好。感謝您參加 Planet Labs PBC 2023 財年第三季度財報電話會議。 （操作員說明）

I would now like to pass the conference over to your host, Mr. Chris Genualdi, Vice President of Investor Relations. Thank you. You may proceed.

我現在想將會議轉交給您的主持人，投資者關係副總裁 Chris Genualdi 先生。謝謝你。你可以繼續。

Hello and welcome to Planet's third quarter of fiscal year 2023 earnings call. Before we begin today's call, we'd like to remind everyone that we may make forward-looking statements related to future events or our financial outlook. Any forward-looking statements are based on management's current outlook, plans, estimates, expectations and projections. The inclusion of such forward-looking information should not be regarded as a representation by Planet that future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, as detailed in our SEC filings, which can be found at www.sec.gov.

大家好，歡迎來到 Planet 2023 財年第三季度財報電話會議。在我們開始今天的電話會議之前，我們想提醒大家，我們可能會做出與未來事件或我們的財務前景相關的前瞻性陳述。任何前瞻性陳述均基於管理層當前的展望、計劃、估計、預期和預測。包含此類前瞻性信息不應被 Planet 視為將實現未來計劃、估計或預期的陳述。此類前瞻性陳述受各種風險、不確定性和假設的影響，詳見我們向美國證券交易委員會提交的文件，可在 www.sec.gov 上找到。

Our actual results or performance may differ materially from those indicated by such forward-looking statements and we undertake no responsibility to update such forward-looking statements to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

我們的實際結果或表現可能與此類前瞻性陳述所表明的結果或表現存在重大差異，我們不承擔更新此類前瞻性陳述以反映陳述作出之日後發生的事件或情況或反映意外事件發生的責任事件。

During the call, we will also discuss non-GAAP financial measures. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects and allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. For more information on the non-GAAP financial measures, please see the reconciliation tables provided in our press release issued earlier this afternoon.

在電話會議期間，我們還將討論非 GAAP 財務措施。我們將這些非 GAAP 財務指標用於財務和運營決策，並作為評估期間比較的手段。我們相信，這些措施提供了有關經營業績的有用信息，增強了對過去財務業績和未來前景的整體了解，並提高了管理層在其財務和經營決策中使用的關鍵指標的透明度。有關非 GAAP 財務措施的更多信息，請參閱我們今天下午早些時候發布的新聞稿中提供的調節表。

Further, throughout this call, we provide a number of key performance indicators used by management and often used by competitors in our industry. These and other key performance indicators are discussed in more detail in our press release. Before we jump-in, I'd like to encourage everyone to reference the slides we have posted on our Investor Relations website, which are intended to accompany our prepared remarks.

此外，在整個電話會議中，我們提供了許多管理層使用的關鍵績效指標，並且我們行業的競爭對手也經常使用這些指標。這些和其他關鍵績效指標在我們的新聞稿中有更詳細的討論。在我們開始之前，我想鼓勵大家參考我們在投資者關係網站上發布的幻燈片，這些幻燈片旨在配合我們準備好的評論。

At this time, I'd now like to turn the call over to Will Marshall, Planet's CEO, Chairperson and Co-Founder. Over to you, Will.

此時，我想將電話轉給 Planet 的首席執行官、董事長兼聯合創始人 Will Marshall。交給你了，威爾。

Thanks, Chris, and hello everyone. We're glad you could join us. I'm pleased to share with you today our results for the third quarter of fiscal 2023, highlight some recent sales wins and talk through our progress on a number of strategic initiatives. I'll also provide a perspective on the demand environment and our outlook for the remainder of the year. So let's dive in.

謝謝，克里斯，大家好。我們很高興你能加入我們。今天我很高興與大家分享我們 2023 財年第三季度的業績，強調最近的一些銷售勝利，並討論我們在一些戰略舉措方面取得的進展。我還將提供有關需求環境的觀點以及我們對今年剩餘時間的展望。所以讓我們開始吧。

In Q3, we generated $49.7 million in revenue, representing 57% year-over-year growth. Non-GAAP gross margins expanded to 54%, up from 35% a year-ago. Yes, another significant year-over-year increase. We think this demonstrates the margin, potential of Planet's one-to-many data subscription business model. We ended the quarter with 864 unique customers spanning a diverse range of industries.

第三季度，我們創造了 4970 萬美元的收入，同比增長 57%。非 GAAP 毛利率從一年前的 35% 增至 54%。是的，又是一個顯著的同比增長。我們認為這證明了 Planet 一對多數據訂閱業務模型的利潤率和潛力。本季度結束時，我們擁有 864 名來自不同行業的獨特客戶。

So to sum it up, we delivered another quarter of solid results in the face of an uncertain macro environment, which is a testament to the strong execution across the company and the mission critical nature of Planet solutions. Now I'll take you through some highlights.

綜上所述，面對不確定的宏觀環境，我們又取得了四分之一的穩健業績，這證明了整個公司的強大執行力和 Planet 解決方案的關鍵任務性質。現在，我將帶您了解一些要點。

As we discussed at our Investor Day in October, we're increasingly focused on building partnerships to accelerate growth of our ecosystem of customers and users. There are three new and exciting strategic partnerships that I'd like to discuss first here today, the first of which is that last week, we announced a collaborative agreement with Accenture. We are combining Planet's high-frequency satellite data with Accenture's industry and technology expertise to collaborate on an array of sustainability and impact initiatives including traceable supply-chain strategy and database climate risk assessments to mitigate disruption across global value chains. These are just our initial areas of focus. We're thrilled to be working with Accenture and think our partnership will drive greater awareness of our offerings and the benefits of our data to deliver to organizations across many industry sectors.

正如我們在 10 月份的投資者日討論的那樣，我們越來越注重建立合作夥伴關係以加速我們的客戶和用戶生態系統的發展。今天我想首先討論三個令人興奮的新戰略合作夥伴關係，第一個是上週，我們宣布了與埃森哲的合作協議。我們正在將 Planet 的高頻衛星數據與埃森哲的行業和技術專業知識相結合，以合作開展一系列可持續性和影響計劃，包括可追溯的供應鏈戰略和數據庫氣候風險評估，以減輕全球價值鏈的中斷。這些只是我們最初關注的領域。我們很高興與埃森哲合作，並認為我們的合作夥伴關係將提高人們對我們的產品和我們數據的好處的認識，從而為許多行業的組織提供服務。

During the quarter, we also expanded our work with Microsoft. At the United Nations 2022 Climate Change Conference also known as COP27, we announced that we will be supplying satellite datas for African Climate Adaptation Projects developed out of Microsoft's first global expansion of its AI for good lab into Nairobi, Kenya and Cairo, Egypt. This work builds on prior projects including the global renewables watch which is mapping the world's utility scale, solar and wind installations and the creation of an important building damage assessment tool of Ukraine for the United Nations.

在本季度，我們還擴大了與微軟的合作。在聯合國 2022 年氣候變化大會（也稱為 COP27）上，我們宣布將為非洲氣候適應項目提供衛星數據，該項目是微軟首次在全球範圍內將其 AI for good 實驗室擴展到肯尼亞內羅畢和埃及開羅而開發的。這項工作建立在之前的項目之上，包括全球可再生能源觀察，它正在繪製世界公用事業規模、太陽能和風能裝置的地圖，以及為聯合國創建烏克蘭重要的建築損壞評估工具。

Our partnership with Microsoft demonstrates how the combination of AI and satellite data is a powerful tool for helping to address some of the world's most complex and critical challenges. Finally, I'd like to highlight our partnership with Amazon Web Services, which we just announced today. We are directly embedding Planet data into AWS SageMaker, enabling data sciences and machine-learning engineers to acquire global, daily satellite data through the platform. This partnership helps customers build, train and deploy machine-learning model on geospatial data with great efficiency. The data from Planet's consistent daily scan of the earth is and answers ready and ideal for developers to build-on. It's an exciting early-stage go-to-market collaboration that amplifies the power of our sales organization with the significant potential given the large customer base of AWS. This new collaboration with AWS supports our go-to-market strategy to accelerate data access within Geospatial tools and cloud platforms.

我們與微軟的合作展示了人工智能和衛星數據的結合如何成為幫助解決世界上一些最複雜和關鍵挑戰的強大工具。最後，我想強調一下我們今天剛剛宣布的與 Amazon Web Services 的合作夥伴關係。我們將 Planet 數據直接嵌入 AWS SageMaker，使數據科學和機器學習工程師能夠通過該平台獲取全球每日衛星數據。這種合作夥伴關係可幫助客戶高效地構建、訓練和部署基於地理空間數據的機器學習模型。 Planet 每天對地球進行一致掃描的數據和答案已經準備就緒，非常適合開發人員進行構建。這是一個令人興奮的早期上市合作，它增強了我們銷售組織的力量，鑑於 AWS 的龐大客戶群，它具有巨大的潛力。與 AWS 的這一新合作支持我們的上市戰略，以加速地理空間工具和雲平台內的數據訪問。

Shifting gears to M&A, as you know, we view Planet as a natural consolidator and we're particularly interested in joining forces with teams that have potential to accelerate our product roadmap and enhance our value proposition. With this in mind, we're very excited to announce that we have signed an agreement to acquire Salo sciences, a small California climate company specializing, measuring us constantly changing ecosystems.

如您所知，轉向併購，我們將 Planet 視為一個自然的整合者，我們特別有興趣與有潛力加速我們的產品路線圖和提升我們的價值主張的團隊聯手。考慮到這一點，我們非常高興地宣布，我們已經簽署了收購 Salo sciences 的協議，Salo sciences 是一家小型加利福尼亞氣候公司，專門測量我們不斷變化的生態系統。

Since 2019, we partnered with Salo Sciences team to deliver insights, one example is their, California Forest Observatory, which dynamically maps first structure and vegetative pure loads at the individual tree level across California. Earlier this year, we partnered to directly measure forest carbon in select areas around the world. We at Planet see a planetary variable for carbon as a key element for the global sustainability transition in general and the carbon offsetting market in particular.

自 2019 年以來，我們與 Salo Sciences 團隊合作提供見解，一個例子是他們的加州森林天文台，該天文台動態繪製了整個加州單個樹木級別的第一結構和植物純負荷。今年早些時候，我們合作直接測量了全球特定地區的森林碳。在 Planet，我們將碳的行星變量視為全球可持續發展轉型的關鍵要素，尤其是碳抵消市場。

Today, Salo Sciences products include a forest carbon measurement tool, powered by Planet data that can help enable accountability towards the climate policies and market first carbon inventories and storage and much more. The next step is to extend the Salo sciences products and reach and that's where Planet comes in. This acquisition plays in neatly with our Board of planetary variable work including developments from our previous acquisition of VanderSat. I'm very excited what we can accomplish together. This deal is signed and subject to closing conditions. We expect to close early next year. We look-forward to sharing more at that time.

如今，Salo Sciences 的產品包括一個森林碳測量工具，該工具由 Planet 數據提供支持，可以幫助實現對氣候政策和市場第一碳庫存和儲存等的問責制。下一步是擴展 Salo sciences 的產品和範圍，這就是 Planet 的用武之地。這次收購與我們的行星變量工作委員會巧妙地結合在一起，包括我們之前收購 VanderSat 的發展。我很高興我們可以一起完成。該交易已簽署並受成交條件約束。我們預計明年初關閉。我們期待屆時分享更多。

Turning to customer wins, let's start with the government sector. Demand for our solutions with the government customers both civil and defense, domestic and international is robust. During the third quarter, we closed the renewal and expansion contract worth more than $10 million over the next 12 months with an international Ministry of Defense customer. We've worked with this customer for over three years and we're proud to continue to support them.

談到贏得客戶，讓我們從政府部門開始。民用和國防、國內和國際政府客戶對我們解決方案的需求強勁。在第三季度，我們與一家國際國防部客戶在未來 12 個月內完成了價值超過 1000 萬美元的續約和擴建合同。我們與該客戶合作了三年多，我們很自豪能夠繼續支持他們。

On the civil government side, during the last month, we expanded our contract with a German Federal Agency for cartography and Geodesy also known BKG. As shared previously, this pioneering countrywide partnership is providing access to Planet data for over 400 German federal institutions to help promote public and silver safety and many other use cases. We see this as an innovative model that has the potential to be repeated in other countries.

在民間政府方面，上個月，我們擴大了與德國聯邦製圖和大地測量局（也稱為 BKG）的合同。如前所述，這一開創性的全國性合作夥伴關係正在為 400 多家德國聯邦機構提供對 Planet 數據的訪問，以幫助促進公共和白銀安全以及許多其他用例。我們認為這是一種創新模式，有可能在其他國家/地區復制。

I'd like to take a moment to share some of the recent highlights that have come out of the Brasil MAIS Program, which is the largest remote sensing project in Brazil. Through this project, Brazilian federal agencies are able to gain access to Planet's daily satellite imagery and change alerts from our partner, SCCON, a Brazilian company that develops and supplies geo IT solutions. With the implementation of our joint solution, the Brazilian Federal Police have used our data to help address a list of activities in the region, as an amazing example of capabilities of our products at scale and the potential to deliver huge value to customers.

我想花點時間分享巴西最大的遙感項目巴西 MAIS 計劃最近的一些亮點。通過該項目，巴西聯邦機構能夠訪問 Planet 的每日衛星圖像，並從我們的合作夥伴 SCCON（一家開發和提供地理 IT 解決方案的巴西公司）處獲取變化警報。通過實施我們的聯合解決方案，巴西聯邦警察使用我們的數據來幫助解決該地區的一系列活動，這是我們產品大規模能力和為客戶提供巨大價值的潛力的一個驚人例子。

The project leverages Planet's monthly basemap's and daily plant [script] data, a Planet's analytics feeds to staff and new roads and buildings across the country. Then this feeds into specialized alerting software developed by SCCON to bring the right information to the end-customer. The project has already yielded significant benefits including helping the Brazilian government collect the equivalent of over USD1.9 billion in fines, seize goods and frozen assets since 2020. Additionally, over 3,000 public agents were mobilized throughout the project in over 120 operations. We're proud to be able to support this initiative with our partners in Brazil.

該項目利用 Planet 的月度底圖和每日植物 [腳本] 數據、Planet 向員工提供的分析以及全國各地的新道路和建築物。然後將其輸入 SCCON 開發的專業警報軟件，為最終客戶提供正確的信息。自 2020 年以來，該項目已經產生了顯著的效益，包括幫助巴西政府收取了相當於超過 19 億美元的罰款、沒收貨物和凍結資產。此外，該項目在 120 多個行動中動員了 3,000 多名公共代理人。我們很自豪能夠與我們在巴西的合作夥伴一起支持這項計劃。

Turning to the commercial side of the market, during the quarter we signed a deal with a Fortune 500 Global Energy Services company. Planet is providing this customer it's high-resolution imagery of remote energy facilities, that is being used in a digital platform for the display of greenhouse gas emission, measured by onsite census, helping to quantify, prioritize and rectify emissions quickly and efficiently, another example of how satellite and on-the-ground data can be combined to solve critical issues.

轉向市場的商業方面，本季度我們與一家財富 500 強全球能源服務公司簽署了一項協議。 Planet 正在向該客戶提供遠程能源設施的高分辨率圖像，該圖像被用於顯示溫室氣體排放的數字平台，通過現場普查測量，有助於快速有效地量化、優先排序和糾正排放，另一個例子如何結合衛星和地面數據來解決關鍵問題。

In the insurance sector, we recently signed a deal with ZEP-RE, an reinsurance provider based in Nairobi, Kenya. ZEP-RE is leveraging Planet's basemaps to enhance drought risk protection in the Horn of Africa. Planet will deliver Normalized Difference [Vegetative] Index or NDVI time series data to measure vegetative health for an area of more than 600,000 square kilometers. ZEP-RE also plans to use Planet data as their independent calculation agent to quantify condition and provide metrics to measure drought. Working with Planet, they aim to expand their insurance program from supporting a 150,000 to over 250,000 per store less in the process ZEP-RE is seeking to generate a Drought Index, which can be customized to locations to determine payout amounts, generate premium rates and enable faster claims.

在保險領域，我們最近與總部位於肯尼亞內羅畢的再保險提供商 ZEP-RE 簽署了一項協議。 ZEP-RE 正在利用 Planet 的底圖來加強非洲之角的干旱風險保護。 Planet 將提供歸一化差異 [植物] 指數或 NDVI 時間序列數據，以衡量超過 600,000 平方公里區域的植物健康狀況。 ZEP-RE 還計劃使用 Planet 數據作為其獨立的計算代理來量化條件並提供衡量乾旱的指標。與 Planet 合作，他們的目標是將他們的保險計劃從支持每家商店 150,000 人減少到超過 250,000 人，在 ZEP-RE 尋求生成乾旱指數的過程中，該指數可以根據地點定制以確定支付金額，生成保險費率和實現更快的索賠。

We're also expanding our partnership with Swiss Re. In the last year, we have provided index insurance services with Swiss Re in 14 countries, providing drought cover for organizations of farmers around the globe, leveraging the planetary variables from the VanderSat acquisition, most notably the global soil moisture product is a very valuable and unique application of our data that we are seeing scaled across global markets.

我們還在擴大與瑞士再保險的合作夥伴關係。去年，我們與 Swiss Re 在 14 個國家/地區提供了指數保險服務，為全球農民組織提供乾旱保障，利用 VanderSat 收購帶來的行星變量，最值得注意的是全球土壤水分產品是一種非常有價值和我們看到在全球市場上擴展的我們數據的獨特應用。

In other developments, we launched this quarter, a nonprofit and NGO program to provide access to Planet imagery and support services, specifically for these types of organizations. This program enables NGOs to get up and running with standard pricing and packaging and customer onboarding. It's a seed investment at this stage, but overtime we hope it will foster similar benefits to those we have seen with our successful education research program, which is an important contributor to our sales top of funnel as it (inaudible) new applications for our data that can later be commercialized.

在其他發展方面，我們在本季度啟動了一項非營利性和非政府組織計劃，以提供對 Planet 圖像和支持服務的訪問，特別是針對這些類型的組織。該計劃使非政府組織能夠啟動並運行標准定價和包裝以及客戶入職。這是現階段的種子投資，但隨著時間的推移，我們希望它能帶來與我們在成功的教育研究計劃中看到的類似的好處，這是我們銷售漏斗頂部的重要貢獻者，因為它（聽不清）我們數據的新應用以後可以商業化。

Let me make some perspectives that we're seeing in the market today. Demand pipeline, win rates and our sales team execution all continue to be strong despite the economic backdrop. The pace at which our reps are signing new and expansion business remains healthy and our average deal size continues to increase as the reps are focusing on those opportunities with the strongest product to market fit.

讓我提出一些我們今天在市場上看到的觀點。儘管經濟背景不佳，但需求渠道、贏單率和我們的銷售團隊執行力都依然強勁。我們的銷售代表簽署新業務和擴展業務的速度保持健康，我們的平均交易規模繼續增加，因為銷售代表專注於那些產品與市場契合度最強的機會。

As you've heard, the government segment of the market, both domestic and international continues to be especially robust. On the commercial side of the market, we are seeing some customers become more cautious as they navigate the current economic environment, leading to increased scrutiny of spend. This market dynamic will require continued focus on these opportunities where our data can provide proven economic outcomes for commercial customers.

正如您所聽說的，國內和國際市場的政府部分繼續特別強勁。在市場的商業方面，我們看到一些客戶在應對當前的經濟環境時變得更加謹慎，導致對支出的審查更加嚴格。這種市場動態將需要繼續關注這些機會，在這些機會中，我們的數據可以為商業客戶提供經過驗證的經濟成果。

Fortunately, we believe the secular tailwinds driving adoption of our solutions, digital transformation and the sustainability transition the need for greater patient security remain top priorities for countries and companies alike and our sales team continue to systematically execute and win in the market.

幸運的是，我們相信長期的順風推動採用我們的解決方案、數字化轉型和可持續發展轉型，提高患者安全的需求仍然是國家和公司的首要任務，我們的銷售團隊繼續系統地執行並贏得市場。

In summary, Q3 was another truly excellent quarter and I'm proud of the team's execution. I'm particularly proud of the sales deals such as those I've just touched upon and the burgeoning strategic partnerships. It's exciting to see global technology leaders leveraging Planet solutions to helping new capabilities to their customers and users. I'm also excited about the signed acquisition agreement with Salo Sciences. We see a plan to be variable for carbon, the key element for the global sustainability transition.

總之，第三季度是另一個真正出色的季度，我為團隊的執行力感到自豪。我對銷售交易感到特別自豪，例如我剛剛提到的那些以及新興的戰略合作夥伴關係。很高興看到全球技術領導者利用 Planet 解決方案為他們的客戶和用戶提供新功能。我也對與 Salo Sciences 簽署的收購協議感到興奮。我們看到了一項針對碳的可變計劃，碳是全球可持續發展轉型的關鍵要素。

With that, I'll now turn over to Ashley, after which, we'll have some time for Q&A.

有了這個，我現在將交給 Ashley，之後，我們將有一些時間進行問答。

Thank you, Will and thanks everyone for joining today. As Will mentioned, our revenue for the third quarter of fiscal '23 ending October 31st came in at $49.7 million, which represents 57% year-over-year growth. It's worth calling out that $1.5 million of the upside this quarter came in the form of onetime revenue associated with an option renewal by a European customer, focused on climate and environmental monitoring. We're proud to continue to support this partnership and I'm especially proud of the strong execution of our global teams who are delivering results for our customers.

謝謝你，威爾，感謝大家今天的加入。正如 Will 所提到的，截至 10 月 31 日，我們在 23 財年第三季度的收入為 4970 萬美元，同比增長 57%。值得一提的是，本季度 150 萬美元的收益來自與歐洲客戶續簽期權相關的一次性收入，專注於氣候和環境監測。我們很自豪能夠繼續支持這種夥伴關係，我尤其為我們全球團隊的強大執行力感到自豪，他們正在為我們的客戶提供成果。

Our end-of-period customer count grew to 864 customers, which represent 16% year-over-year growth and is an indicator of the broader adoption of our platform. Our end-of-period customer count has grown quarter-over-quarter for every quarter in the last three years. We're pleased with our new logo additions in Q3, which showed continued momentum with large accounts. We've seen the average annual contract value of our customers grow year-over-year during the last four quarters, as our sales teams are prioritizing higher-value accounts with opportunity to expand over time.

我們的期末客戶數量增長到 864 名客戶，同比增長 16%，這表明我們的平台得到了更廣泛的採用。在過去三年中，我們每個季度的期末客戶數量都在逐季增長。我們對我們在第三季度添加的新徽標感到滿意，這表明大客戶的持續增長勢頭。在過去四個季度中，我們看到客戶的平均年度合同價值同比增長，因為我們的銷售團隊正在優先考慮價值更高的客戶，這些客戶有機會隨著時間的推移而擴展。

Net dollar retention rate at the end of Q3 was 123% and net dollar retention rate with win backs was 125%. This represent significant year-over-year improvement primarily driven by renewals and expansions in government and agriculture. This is down slightly quarter-over-quarter due to the timing of a renewal with a large international government customer in Asia, which was signed shortly after the end of our quarter. We remain focused on driving higher retention through our investments in product and customer success.

第三季度末的淨美元保留率為 123%，贏回後的淨美元保留率為 125%。這代表了主要由政府和農業的更新和擴張推動的顯著同比改善。由於與亞洲大型國際政府客戶續約的時間安排，該季度環比略有下降，該客戶是在本季度結束後不久簽署的。我們仍然專注於通過我們對產品和客戶成功的投資來提高保留率。

Turning to gross margin, we expanded our non-GAAP gross margin to 54% for the third quarter of fiscal '23, compared to 35% in the prior year. The expansion of gross margins continues to be driven by the growth of revenue, the efficiency in our industry-leading agile aerospace approach and the fundamentals of our one-to-many data subscription business model. Adjusted EBITDA loss was $12.4 million for the quarter, better than we had expected, driven by revenue upside, effective cost management and the timing of some expenses which we expect will incur in the coming quarters. We have been disciplined in our pace and quality of hiring as we continue to invest in our teams across Planet to meet the growing demand for our solutions. We believe that Planet's commitment to our mission, technology and market leadership and the strength of our global organization, our competitive advantages in the market for talent.

談到毛利率，我們將 23 財年第三季度的非 GAAP 毛利率擴大至 54%，而去年同期為 35%。毛利率的增長繼續受到收入增長、我們行業領先的敏捷航空航天方法的效率以及我們一對多數據訂閱業務模型的基礎的推動。本季度調整後的 EBITDA 虧損為 1,240 萬美元，好於我們的預期，這主要得益於收入增長、有效的成本管理以及我們預計將在未來幾個季度發生的一些費用的時間安排。隨著我們繼續投資於 Planet 各地的團隊，以滿足對我們解決方案不斷增長的需求，我們一直嚴格控制招聘的步伐和質量。我們相信 Planet 對我們的使命、技術和市場領導地位的承諾以及我們全球組織的實力、我們在人才市場上的競爭優勢。

Turning to the balance sheet, we ended the quarter with $425 million in cash, cash equivalents and short-term investments, which we continue to believe provides us with sufficient capital to invest behind our growth accelerating initiatives without needing to raise additional capital. We also continue to have no debt outstanding. Capital expenditures for the quarter including capitalized software development were $3 million or approximately 6% of revenue, which is lower than we had anticipated, primarily due to the timing of procurements. We anticipate these expenses will catch up in subsequent quarters.

談到資產負債表，我們在本季度結束時擁有 4.25 億美元的現金、現金等價物和短期投資，我們仍然相信這為我們提供了足夠的資金來支持我們的增長加速計劃，而無需籌集額外資金。我們也繼續沒有未償債務。本季度包括資本化軟件開發在內的資本支出為 300 萬美元，約佔收入的 6%，低於我們的預期，這主要是由於採購時間安排所致。我們預計這些費用將在隨後幾個季度趕上。

At the end of Q3, our remaining performance obligations or RPOs were approximately $131 million, of which approximately 81% apply to the next 12 months and 96% apply to the next two years. Sequential RPO growth was impacted by the previously mentioned government customer in Asia that renewed their large multiyear contract shortly after the quarter end. As I've explained before, RPOs will fluctuate quarter-to-quarter as multiyear contracts come up for renewal.

在第三季度末，我們剩餘的履約義務或 RPO 約為 1.31 億美元，其中約 81% 適用於未來 12 個月，96% 適用於未來兩年。 RPO 的連續增長受到前面提到的亞洲政府客戶的影響，該客戶在本季度結束後不久續簽了他們的大型多年期合同。正如我之前解釋的那樣，隨著多年合同的續簽，RPO 將按季度波動。

Additionally, please keep in mind that our reported RPOs exclude the value associated with the EOCL contract, as well as other contracts that include a termination for convenience clause, which is common in our federal contracts. Looking ahead to the fourth quarter, we expect revenue to come in between USD50 million and USD54 million, which represents growth of approximately 40% year-over-year at the midpoint. We expect non-GAAP gross margin for Q4 of 56% to 59%, up from 42% in Q4 fiscal '22.

此外，請記住，我們報告的 RPO 不包括與 EOCL 合同相關的價值，以及其他包含便利終止條款的合同，這在我們的聯邦合同中很常見。展望第四季度，我們預計收入將在 5000 萬美元至 5400 萬美元之間，按中間值計算，同比增長約 40%。我們預計第四季度的非美國通用會計準則毛利率為 56% 至 59%，高於 22 財年第四季度的 42%。

Our adjusted EBITDA loss for the fourth quarter is expected to be between negative $21 million and negative $16 million. We expect capital expenditures of approximately $4 million to $6 million, which represents 8% to 11% of revenue. For the fiscal year ending January 31st, 2023, we now expect revenue to be between USD188 million and USD192 million, representing 43% to 47% year-over-year growth. The midpoint of this guidance reflects revenue growth of approximately 45%, which would be a significant top line acceleration on a year-over-year basis.

我們調整後的第四季度 EBITDA 虧損預計在負 2100 萬美元到負 1600 萬美元之間。我們預計資本支出約為 400 萬至 600 萬美元，佔收入的 8% 至 11%。對於截至 2023 年 1 月 31 日的財政年度，我們現在預計收入將在 1.88 億美元至 1.92 億美元之間，同比增長 43% 至 47%。該指引的中點反映收入增長約 45%，這將是同比顯著的頂線加速。

We expect our non-GAAP gross margin to be between 52% and 53%, an improvement of approximately 15 percentage points year-over-year. Our adjusted EBITDA loss is expected to be between negative $60 million and negative $56 million. We expect CapEx to be approximately $15 million to $17 million, which would be roughly 8% to 9% of revenue. The lower CapEx guidance is attributable to more measured procurement of ground stations for our future fleets and adjustments in our procurement schedule for our longer lead-time components.

我們預計我們的非美國通用會計準則毛利率將在 52% 至 53% 之間，同比提高約 15 個百分點。我們調整後的 EBITDA 虧損預計在負 6000 萬美元到負 5600 萬美元之間。我們預計資本支出約為 1500 萬至 1700 萬美元，約佔收入的 8% 至 9%。較低的資本支出指引是由於我們未來機隊的地面站採購更加慎重，以及我們對較長交貨期組件的採購計劃進行了調整。

To close, I'd just like to say it was another great quarter. I'm proud of our Planet peers around the globe and the contributions they make to building such an incredible company. We are executing against our plan in a challenging macroeconomic environment and that's due to the focus and collaboration across our global teams. We remain confident in the market demand for our unique data sets and believe we're well positioned to continue to capture the opportunity ahead of us.

最後，我只想說這是另一個偉大的季度。我為我們在全球的 Planet 同行以及他們為建立這樣一家令人難以置信的公司所做的貢獻感到自豪。我們在充滿挑戰的宏觀經濟環境中執行我們的計劃，這要歸功於我們全球團隊的專注和協作。我們對市場對我們獨特數據集的需求充滿信心，並相信我們有能力繼續抓住我們面前的機會。

Operator, that concludes our comments. We can now take questions.

接線員，我們的評論到此結束。我們現在可以提問了。

Absolutely. (Operator Instructions) The first question is from the line of Michael J. Latimore with Northland. You may proceed.

絕對地。 （操作員說明）第一個問題來自 Michael J. Latimore with Northland。你可以繼續。

I can't hear you.

我聽不見你。

Apologies, Mr. Latimore. Your line is now open.

抱歉，拉蒂莫爾先生。您的線路現已開通。

Great. All right. Excellent. Yeah, thanks. Very, very strong results. I guess I just wanted to touch on one of the topics really from last quarter where you had have several customers I think they used up their annual commitments early and there was some -- you sort of evaluate, do they kind of expand or renew early? Or do they kind of hold the pattern with that annual commitment. Can you provide any color on how that's played out in the last quarter?

偉大的。好的。出色的。是的，謝謝。非常非常強大的結果。我想我只是想談談上個季度的一個話題，你有幾個客戶，我認為他們很早就用完了他們的年度承諾，並且有一些 - 你有點評估，他們是否有點擴展或更新？或者他們是否有點保持這種年度承諾的模式。您能否提供有關上個季度如何發揮作用的任何顏色？

Yeah, I'd say it's -- as we expected, there are some customers that have engaged with us on either early renewals or expansions to their contracts based on their higher consumption levels and we've had others that continue to manage to the overall annual size that they have for their contract. So obviously, we came in at the high end. We came in above our guidance range and so we definitely continue to see strong consumption patterns, which is great.

是的，我想說的是——正如我們預期的那樣，有一些客戶根據他們較高的消費水平與我們就提前續籤或擴展他們的合同進行了接觸，而我們還有其他人繼續管理整體他們合同的年度規模。很明顯，我們進入了高端市場。我們超出了我們的指導範圍，因此我們肯定會繼續看到強勁的消費模式，這很好。

Good, good. And then on the use of partners, can you elaborate a little bit more on how influential they are to new bookings and expansions and maybe segment a little bit between sort of the maybe traditional software kind of a size like Accenture versus tech partners here and how influential they are on leads and bookings at this point?

好好。然後關於合作夥伴的使用，你能否詳細說明他們對新預訂和擴展的影響有多大，並且可能在像埃森哲這樣規模的傳統軟件與這裡的技術合作夥伴之間進行一些細分，以及如何此時他們對潛在客戶和預訂有影響嗎？

Yeah, it's a great question. So we have both direct sales business and via finance. It's always -- we've always used partners quite a bit, but we are seeing is a very strong go-to-market approach. And the strategic partners that you saw, I think it really -- it's a great sign that those three large entities, AWA, Accenture and Microsoft are leaning in. It's obviously, from my perspective, demonstrating that they see the big value of geospatial data to their markets and it's mostly commercial markets that they have in mind by the way.

是的，這是一個很好的問題。所以我們既有直銷業務，也有金融業務。它總是 - 我們總是使用合作夥伴很多，但我們看到的是一種非常強大的上市方法。你看到的戰略合作夥伴，我認為這真的是一個很好的跡象，表明這三個大型實體，AWA、埃森哲和微軟正在加入。從我的角度來看，這顯然表明他們看到了地理空間數據的巨大價值到他們的市場，順便說一句，他們考慮的主要是商業市場。

And it's great to see them seize that big opportunity, they don't lean in for small opportunities, so these organizations and so that's really great. And we have a number of solution partners as well, where they're adding capabilities on top of our data that enable solutions and use cases that our solutions don't directly handle and that's more than the market, too. So we definitely are leaning into partners, we've done it before, but we are leaning in stronger and stronger into partners as a route market.

很高興看到他們抓住了這個大機會，他們不會依靠小機會，所以這些組織真的很棒。我們也有許多解決方案合作夥伴，他們在我們的數據之上添加功能，以實現我們的解決方案無法直接處理的解決方案和用例，這也不僅僅是市場。因此，我們肯定會向合作夥伴傾斜，我們之前已經這樣做過，但我們越來越傾向於作為航線市場的合作夥伴。

Thank you, Mr. Latimore. The next question is from the line of Edison Yu with Deutsche Bank.

謝謝你，拉蒂莫爾先生。下一個問題來自德意志銀行的Edison Yu。

I had a question on the acquisition announced. If we think about in the context of peer win, I think I heard that this kind of falls under the planetary variables piece. Do you foresee kind of doing some more scouting in this area? Or are you starting to think about kind of moving up to insights?

我對宣布的收購有疑問。如果我們在同伴獲勝的背景下考慮，我想我聽說這種屬於行星變量部分。您是否預見到會在該地區進行更多的偵察？還是您開始考慮提升洞察力？

It's great question, I mean, we're very excited by this acquisition. Let me just speak a little bit broadly firstly the planetary variables and the sustainability business because I think that the sustainability transition is desperately in need of really good scientific measures and a planetary variable on carbon in particular is critical to our carbon offsetting strategy as a specie, so that's really exciting. Salo has great forest user for -- it's out data to make good forest measurement techniques and translating that into not just far as cover but to forest carbon, there's essential ground preparation for that sort of mood.

這是一個很好的問題，我的意思是，我們對這次收購感到非常興奮。首先讓我稍微寬泛地談談行星變量和可持續性業務，因為我認為可持續性轉型迫切需要真正好的科學措施，特別是碳的行星變量對於我們作為一個物種的碳抵消戰略至關重要，所以這真的很令人興奮。 Salo 有很好的森林用戶 - 它是用於製定良好的森林測量技術的數據，並將其轉化為不僅僅是覆蓋，還轉化為森林碳，這種情緒有必要的地面準備。

And of course, we've worked with them for some years through the California Forest Observatory work and other pieces, so we've got a good relationship with that team, so it's really a good cultural fit and everything. And it does as you are pointing out, fit into the board a planetary variable strategy that we're embarking upon really started in earnest with the acquisition this time last year of VanderSat and they neatly fit into that as a piece of work. So -- and this is continuing as up the stack, I mean the planetary variables are a really important piece of it and I think that's where the bigger focus is right now than the insights and indicators that might come beyond that. But they are -- but they're at the critical horizontal component that we need to be building up today.

當然，我們通過加州森林天文台的工作和其他項目與他們合作了幾年，所以我們與該團隊建立了良好的關係，所以這真的是一種很好的文化契合度。正如你所指出的那樣，它確實融入了我們正在著手實施的行星變量戰略，從去年這個時候收購 VanderSat 開始，他們就作為一項工作巧妙地融入了這一戰略。所以 - 這一直在繼續，我的意思是行星變量是其中一個非常重要的部分，我認為這是現在比可能超出此範圍的見解和指標更大的關注點。但它們是——但它們處於我們今天需要建立的關鍵橫向組成部分。

Understood. And just a follow-up on, actually a separate question on the financials. Obviously, very, very strong flow through. I know you said you mentioned that part of it was kind of a onetime upside, I think early renewal or something. Could you maybe just give us a sense of, I guess, what happened there? Why wouldn't kind of repeat? And then I think you also mentioned that there was a deal that kind of flipped after the quarter and any sense as what the rates would have looked like if that actually fell in the quarter? Thanks.

明白了。只是跟進，實際上是關於財務的一個單獨問題。顯然，非常非常強的流量通過。我知道你說過你提到過它的一部分是一次性的好處，我認為是早期續約之類的。你能不能給我們講講，我想，那裡發生了什麼？為什麼不重複？然後我想你還提到了在本季度之後發生了某種交易，如果本季度實際下降，利率會是什麼樣子？謝謝。

Yeah, so in terms of the onetime revenue that I referenced in my remarks, that was a four year deal that had a couple of renewal options after year two and year three. And just based on the accounting treatment as it relates to the contract, it required analyzing the revenue recognition over the term and understanding where we are on that revenue recognition versus the full contract size. So I'm not an accountant by background, but the team worked with the auditors to do an analysis on where we are in that. It resulted in a onetime revenue recognition in the quarter.

是的，就我在評論中提到的一次性收入而言，這是一項為期四年的交易，在第二年和第三年之後有幾個續約選擇。並且僅基於與合同相關的會計處理，它需要分析期限內的收入確認，並了解我們在收入確認與整個合同規模之間的位置。所以我的背景不是會計師，但團隊與審計師合作對我們所處的位置進行了分析。這導致本季度一次性收入確認。

On a net basis, it was about $1.5 million impact to revenue. So obviously, that's significant, so I wanted to make sure to call that out. Even without that, obviously, we would have come in at the high end or just above the high end of our range. So -- but that was that's what I was referencing in that part of the remarks with respect to the delayed renewal that also, as you know, had the opposite impact on the quarter where when a renewal comes in late, then that's revenue that we miss out on. So had that come in on time, obviously, net dollar retention rate would have been higher in the quarter, RPOs would have been higher and revenue would have been higher. And so that's -- that underscores the importance of on-time renewals and it's something that we're very focused on internally.

按淨額計算，這對收入的影響約為 150 萬美元。很明顯，這很重要，所以我想確保把它說出來。即使沒有它，很明顯，我們也會進入高端或略高於我們範圍的高端。所以 - 但這就是我在關於延遲續約的那部分評論中所引用的內容，正如你所知，這也對續約延遲的季度產生了相反的影響，那就是我們的收入錯過。因此，如果按時出現，顯然，本季度的淨美元保留率會更高，RPO 會更高，收入也會更高。這就是 - 這強調了按時續訂的重要性，這是我們內部非常關注的事情。

Thank you, Mr. Yu. The next question is from the line of Josh Sullivan with the Benchmark Company.

謝謝余先生。下一個問題來自 Benchmark 公司的 Josh Sullivan。

As far as the net dollar retention, just given the comments around more customer scrutiny of spend, do you think you'll be able to sustain this kind of level? Or do you think you might see some of those renewables extend more often?

至於淨美元保留率，只是考慮到更多客戶對支出的審查，你認為你能維持這種水平嗎？或者你認為你可能會看到其中一些可再生能源更頻繁地擴展？

Yeah, I mean I think across the board, the broader customer success theme, investments we have made have given us really good visibility into both the renewals and the ability to drive expansion and we aim to be a business that operates in kind of the best-in-class net dollar retention rate levels, so north of 120%. Right now, we're on track for that and we think that the investments that we've been making both in the product and usability of our products as well as with the teams that are working with our customers to drive that value proposition is having that impact and it should be sustainable.

是的，我的意思是我認為全面而言，更廣泛的客戶成功主題，我們所做的投資讓我們對續約和推動擴張的能力有了很好的了解，我們的目標是成為一家以最佳方式運營的企業- 一流的淨美元保留率水平，因此超過 120%。現在，我們正朝著這個方向前進，我們認為我們在產品和產品可用性方面以及與客戶合作以推動價值主張的團隊中所做的投資正在取得成功這種影響應該是可持續的。

In terms of the cautionary note about the headwinds, it's basically and we have to say, we're not immune to the macroeconomic environment. And so we are working with our customers to understand whether there's other ways to scope our relationships with them to continue to drive value, but the relationships remain strong and obviously the results in the quarter are speaking for themselves and that's...

就逆風的警示性說明而言，基本上我們不得不說，我們不能免受宏觀經濟環境的影響。因此，我們正在與我們的客戶合作，了解是否有其他方法來確定我們與他們的關係以繼續推動價值，但這種關係仍然很牢固，顯然本季度的結果不言而喻，那就是......

Yeah, no, I could just add that, yes, that's right, we're seeing a little bit more budget tightening, but also at the same time, in some of our commercial clients that is, but at the same time we just highlighted a bunch of new commercial sign-ups. So it's a mixed story there. But overall, we are continuing to grow even on the commercial side year-on-year. And if I step back a little bit more, there's still the secular tailwinds of digital transformation and sustainability transformation that are really driving excitement here. And so I remain bullish on the commercial potential in the long term no matter what. And you can see by these three strategic partners leaning in another example of -- again, they wouldn't do that if this was -- if they thought this was a small example, a small opportunity, they only lean in when it's a significant one. So I think that's a recognition of the opportunity from them as well. So yeah, we remain bullish on this in the long run.

是的，不，我可以補充一點，是的，沒錯，我們看到更多的預算緊縮，但與此同時，在我們的一些商業客戶中，但與此同時我們剛剛強調一堆新的商業註冊。所以這是一個複雜的故事。但總的來說，即使在商業方面，我們也在繼續逐年增長。如果我退後一步，數字化轉型和可持續發展轉型的長期順風仍在推動這裡的興奮。因此，無論如何，從長遠來看，我仍然看好商業潛力。你可以從這三個戰略合作夥伴的另一個例子中看到——同樣，如果這是——他們不會這樣做——如果他們認為這是一個小例子，一個小機會，他們只有在它是一個重要的時候才會參與一。所以我認為這也是對他們機會的認可。所以是的，從長遠來看，我們仍然看好這一點。

Great. And then just the comment on the timing of procurements in the quarter. How should we think of the cadence of those layering back end?

偉大的。然後只是對本季度採購時間的評論。我們應該如何看待那些分層後端的節奏？

You're talking about on the send side?

你說的是發送方？

Yes, I believe you made a comment just on -- there were some timing of procurements in the quarter, just curious how we should expect those coming back.

是的，我相信你剛剛發表了評論 - 本季度有一些採購時間，只是好奇我們應該如何期待那些回來。

Yeah, I mean, as I said, I anticipate that we'll catch up over the next couple of quarters. We are working closely with the teams to understand which are the -- we've talked about this a bit at our Analyst Day, which are those long lead time items where we see there could be risk and so we want to mitigate any risk in the future and which are those where we're actually feeling quite comfortable that procurement will not be problematic when we need it. We prefer to operate very agily as it relates to procurement, so that we can be judicious with our spend and our vertical integration actually gives us a lot of flexibility on that front. But the lower spend in the quarter, we do anticipate will catch up in the next couple of quarters.

是的，我的意思是，正如我所說，我預計我們會在接下來的幾個季度趕上。我們正在與團隊密切合作，以了解哪些 - 我們在分析師日討論過這個問題，這些是我們認為可能存在風險的長期交付項目，因此我們希望減輕任何風險未來，哪些是我們實際上感到很舒服的地方，因為在我們需要的時候採購不會有問題。我們更喜歡在採購方面非常敏捷地運作，這樣我們就可以明智地支出，而我們的垂直整合實際上在這方面給了我們很大的靈活性。但本季度支出較低，我們確實預計會在接下來的幾個季度趕上。

The next question is from the line of Jeff Van Rhee with Craig-Hallum.

下一個問題來自 Jeff Van Rhee 與 Craig-Hallum 的對話。

Ashley, well great job, great job to the team, love the gross margins, I'm sure you're pretty satisfied a lot of what you're looking at here. On the pipeline, just two quick questions, on the pipeline, can you quantitatively talk -- I mean I love some sense of the overall growth in pipeline year-over-year? And if you can quantitatively, qualitatively, just what's really standing out in terms of the pipeline build?

阿什利，幹得好，對團隊來說乾得好，喜歡毛利率，我相信你對這裡看到的很多東西都非常滿意。關於管道，只有兩個簡單的問題，關於管道，你能定量地談談——我的意思是我喜歡管道的整體增長同比增長的感覺嗎？如果你能從數量上、質量上，那麼在管道構建方面真正突出的是什麼？

Well, I'm feeling really good about our pipeline overall, both on the commercial and the government side. In fact, I've never quite seen so many big deals, to be honest. I think we counted over 40 deals greater than $1 million in our pipeline, which is pretty amazing, I've never seen quite that many. So of course, these are big deals, so they can take some time, so it may not happen all overnight, but overall, the demand is incredibly strong, so feeling good about it.

好吧，我對我們在商業和政府方面的整體管道感覺非常好。事實上，老實說，我從來沒有見過這麼多大交易。我認為我們計算了 40 多筆超過 100 萬美元的交易在我們的管道中，這非常驚人，我從未見過這麼多。所以當然，這些都是大交易，所以它們可能需要一些時間，所以它可能不會一夜之間發生，但總的來說，需求非常強勁，所以感覺很好。

How are eight figure deals going to be?

八位數的交易會怎樣？

Well, we have them a lot, they are happening. So I mean what would you say Ashley? How would you answer that?

好吧，我們有很多，它們正在發生。所以我的意思是你會怎麼說阿什利？你會怎麼回答？

Yeah, how would I answer that? I would say that the good news is we see them. Obviously, the challenge with bigger deals is they tend to be longer procurement cycles and they can cause variability quarter-to-quarter on the bookings, but the fact that we have to see them in our pipeline and are closing them is really fantastic for the business. And quite often, we see these as multiyear procurements, which is also very helpful to us to know that these are relationships that are signed up at the outset for the long term.

是啊，我該怎麼回答呢？我會說好消息是我們看到了他們。顯然，更大交易的挑戰在於它們往往是更長的採購週期，並且它們可能導致預訂的季度變化，但我們必須在我們的管道中看到它們並關閉它們這一事實對於商業。很多時候，我們將這些視為多年採購，這對我們了解這些是從一開始就簽訂的長期關係也非常有幫助。

Yeah, makes sense. With the partners -- and then just one other question on the partner front. I mean, obviously, AWS, Microsoft, Accenture, I mean a lot of heavyweight names right there and I guess you already had meaningful partner influences. From a quantitative way, how are you going to measure it? I mean, are you already measuring partner influence, partner-led partner influence deals, do you have any numbers you can share?

是的，有道理。與合作夥伴——然後是關於合作夥伴方面的另一個問題。我的意思是，很明顯，AWS、微軟、埃森哲，我的意思是那裡有很多重量級的名字，我想你已經有了有意義的合作夥伴影響力。從定量的角度來看，你打算如何衡量它？我的意思是，您是否已經在衡量合作夥伴的影響力、合作夥伴主導的合作夥伴影響力交易，您有任何可以分享的數字嗎？

Yeah and in fact quite a large number of our deals are partner influenced, few of them are partner-led, but in a lot of cases we're bringing a partner in, particularly what we call our solution partners that are building that kind of last mile interface that's specific to the customer use case or the customer geography or both. So we do have a robust partner ecosystem. As we think about these larger partnerships, we're making fewer bets with those partners that view this as a really strategic opportunity. We're early days in them, so we'll be able to report on the progress of these relationships over time. But what's exciting as you see these big names at very high levels, thinking of this as a very strategic opportunity, which signals that we're not alone and seeing these tailwinds due to sustainability and digitization of economies.

是的，事實上我們的很多交易都受到合作夥伴的影響，其中很少有合作夥伴主導的，但在很多情況下，我們會引入合作夥伴，特別是我們所謂的解決方案合作夥伴，他們正在構建這種特定於客戶用例或客戶地理位置或兩者的最後一英里界面。所以我們確實有一個強大的合作夥伴生態系統。當我們考慮這些更大的合作夥伴關係時，我們正在減少與那些將此視為真正戰略機會的合作夥伴的賭注。我們處於早期階段，因此我們將能夠隨著時間的推移報告這些關係的進展。但令人興奮的是，當你看到這些大人物處於非常高的水平時，將其視為一個非常具有戰略意義的機會，這表明我們並不孤單，並且由於經濟的可持續性和數字化而看到這些順風。

I don't know, anything you want to add to that, Will?

我不知道，威爾，您想補充什麼嗎？

No, I think it's great.

不，我認為這很棒。

(Operator Instructions) The next question is from the line of Greg Mesniaeff with WestPark Capital.

（操作員說明）下一個問題來自 WestPark Capital 的 Greg Mesniaeff。

Question on your sales and marketing expense levels. Can you give us a little bit of color and guidance on what to expect going forward? I know you've had a pretty significant ramp in your sales force. And given the fact that you're focusing your incremental wins on partnerships, how sales force intensive are those wins? And how do you see the ramp in sales people continuing as you win more deals? Do you see that slowing down? Do you see it accelerating, I know you didn't give any guidance on sales and marketing, but your number was up, non-GAAP sales and marketing was up pretty significantly year-over-year at just over $16 million for this quarter.

關於您的銷售和營銷費用水平的問題。你能給我們一些關於未來預期的顏色和指導嗎？我知道你的銷售隊伍有了很大的提升。考慮到您將增量勝利集中在合作夥伴關係上，這些勝利對銷售人員的密集程度如何？隨著您贏得更多交易，您如何看待銷售人員的持續增長？你看到它放慢了嗎？你看到它加速了嗎，我知道你沒有給出任何關於銷售和營銷的指導，但你的數字上升了，本季度非 GAAP 銷售和營銷同比增長非常顯著，略高於 1600 萬美元。

Sure. Thanks for the question and yes, as you point out, we've been investing significantly in our sales infrastructure. We talked about before we went public that a large reason for raising the capital was wanting to have more feet on the street because there were a number of geographies where we weren't even vertically aligned in our sales organization because we just didn't have enough AEs on the ground to do so. So we've been adding on that front and with that comes a support infrastructure that you need to make a rep successful, so everything from our sales ops teams to our SDRs and sales engineers.

當然。感謝您提出這個問題，是的，正如您所指出的，我們一直在大力投資我們的銷售基礎設施。我們在上市之前談到，籌集資金的一個重要原因是希望在大街上有更多的腳，因為在許多地區，我們甚至沒有在我們的銷售組織中垂直對齊，因為我們只是沒有地面上有足夠的 AE 可以這樣做。因此，我們一直在這方面添加，隨之而來的是使銷售代表成功所需的支持基礎設施，因此從我們的銷售運營團隊到我們的 SDR 和銷售工程師的一切。

And we've also been investing in customer success, so making sure when we sign these customers, we're getting them to value as early in that on ramping process as possible. The goal now is to make that scalable and there are multiple ways to scale the sales infrastructure. One of them is through the continued automation that we're building into the product to make it easier for customers to on-ramp and to make it lighter touch for the customer [executive] team, so they can cover a broader customer base.

而且我們也一直在投資於客戶的成功，因此確保當我們與這些客戶簽約時，我們會儘早讓他們在提升過程中獲得價值。現在的目標是使其具有可擴展性，並且有多種方法可以擴展銷售基礎設施。其中之一是通過我們在產品中構建的持續自動化，讓客戶更容易上手，並讓客戶 [執行] 團隊更輕鬆地接觸，這樣他們就可以覆蓋更廣泛的客戶群。

The other way is through partnership program. So right now, I would say most if not -- well, the vast majority of our partners still have a Planet rep involved in the sales process. Ultimately, as the products become more advanced again on the customer onboarding, et cetera, we can be lighter touch with our rep involvement in the sales process. So we've been scaling rapidly over the last year. We'll obviously be focusing on making sure we get operational scale over the coming years.

另一種方式是通過合作夥伴計劃。所以現在，如果不是的話，我會說大多數——好吧，我們的絕大多數合作夥伴仍然有一名 Planet 代表參與銷售過程。最終，隨著產品在客戶入職等方面再次變得更加先進，我們可以更輕鬆地讓我們的代表參與銷售過程。因此，我們在過去一年中一直在迅速擴展。我們顯然會專注於確保我們在未來幾年獲得運營規模。

Great. And it sounds from what you're saying that given the scale in the business, we could expect the rate of growth in sales and marketing to taper off a little at some point.

偉大的。從你所說的來看，鑑於業務規模，我們可以預期銷售和營銷的增長率在某個時候會略有下降。

Yeah, we provided our long-term operating targets which would see sales and marketing as a percentage of revenue continue to drop. But obviously, we said we needed to first ramp it up. And then as we drive scale, we'll see that as a percentage of revenue start to taper down to our target margins.

是的，我們提供了我們的長期運營目標，該目標將使銷售和營銷佔收入的百分比繼續下降。但很明顯，我們說我們需要先提高它。然後隨著我們擴大規模，我們將看到它佔收入的百分比開始逐漸下降到我們的目標利潤率。

The next question is from the line of Harry Wilmerding with Needham & Company.

下一個問題來自 Needham & Company 的 Harry Wilmerding。

Just a quick question on customer adds, they were lighter sequentially in the first half of the year, although it looks like 3Q is typically seasonally light. Any changes to call out on converting prospective customers in the quarter? And also, how are you thinking about customer growth as we enter the next year?

只是一個關於客戶補充的快速問題，他們在今年上半年連續變輕，儘管看起來第三季度通常是季節性的。在本季度轉換潛在客戶方面有什麼變化嗎？而且，當我們進入明年時，您如何看待客戶增長？

So was that the first one on customer growth, would you say...

那是關於客戶增長的第一個，你會說......

Customer count.

客戶數。

Yeah, well, I mean, that's primarily dominated by small accounts and so the reps are mainly focused on the large accounts and they're being very strategic and focused and disciplined about that. So some small deals and there was a few in education research that fell up, some added. This is -- we're not tracking that closely because that's not where the dominant revenue is. So the growth I would say is still good in revenue terms, which is the main thing that we're focused on.

是的，嗯，我的意思是，這主要由小客戶主導，所以銷售代表主要關注大客戶，他們非常有戰略眼光，專注於此並遵守紀律。所以一些小交易和教育研究中的一些失敗了，一些人補充說。這是 - 我們沒有密切跟踪，因為那不是主要收入所在。所以我想說的增長在收入方面仍然很好，這是我們關注的主要事情。

Yeah, just to underscore, obviously, we've added some really nice large customer wins and as Will said, that is where we're focusing the sales reps, those opportunities, where we see an opportunity to really land and expand. On a smaller account basis, as Will pointed out, in education and research, you can see some projects that will cause numbers to go up and go down. There may be some seasonality with that which you called out last year. So on the smaller deal size, it's less of a concern on the numerical numbers, what we're really or numerical accounts what we're really focused on is the quality of the deals that we're bringing on board and really seeing, well, NPS scores across the board improving.

是的，只是為了強調，顯然，我們已經贏得了一些非常好的大客戶勝利，正如威爾所說，這就是我們關註銷售代表的地方，那些機會，我們看到了真正落地和擴張的機會。正如 Will 指出的那樣，在較小的帳戶基礎上，在教育和研究中，您可以看到一些項目會導致數字上升和下降。您去年提出的要求可能有一些季節性。因此，對於較小的交易規模，它不太關心數字，我們真正關注的是我們真正關注的是我們正在參與並真正看到的交易的質量，好吧，NPS分數全面提升。

(Operator Instructions) The next question is from the line of Ken Mestemacher with Edison Investment Research.

（操作員說明）下一個問題來自 Edison Investment Research 的 Ken Mestemacher。

First, congratulations on the three announcements on Accenture and AWS and Microsoft. So how should we think about the revenue opportunity and financial impact on a company. And tied in with that, based on your responses to some of my colleagues earlier questions, should we be thinking it would be more medium or long term rather than something in the next year? Or how might that timing look?

首先，祝賀埃森哲與AWS和微軟的三個公告。那麼我們應該如何考慮收入機會和對公司的財務影響。與此相關的是，根據你對我的一些同事早些時候的問題的回答，我們是否應該認為這將是更中期或更長期的而不是明年的事情？或者那個時機看起來如何？

I would just say, like as you mentioned, these are nascent partnerships, but the fact that they're leaning in again is a big sign of the scale of the opportunity that they see. I mean I do think we'll see things in the next year, I don't know how meaningful it will change our revenue, but in that year, but we're definitely seeing this lean in and it just enables us to scale in a different way, right? They have a lot of industry expertise, they have a lot of huge stack of customers that -- where our data is relevant. And so going to market together with them makes a huge amount of sense. We got incredibly exciting data set that can help solve their customers' challenges, they got the scale or the computer or the industry knowledge to do that. So that's the way I think about it. Does that make sense?

我只想說，就像你提到的那樣，這些是新生的伙伴關係，但他們再次傾斜的事實是他們看到的機會規模的一個重要標誌。我的意思是我確實認為我們會在明年看到一些事情，我不知道它會對我們的收入產生多大的影響，但在那一年，但我們肯定會看到這種傾斜，它只會讓我們擴大規模另一種方式，對吧？他們擁有大量的行業專業知識，他們擁有大量的客戶——我們的數據是相關的。因此，與他們一起進入市場非常有意義。我們得到了令人難以置信的令人興奮的數據集，可以幫助他們解決客戶的挑戰，他們有規模、計算機或行業知識來做到這一點。這就是我的想法。那有意義嗎？

Definitely, definitely. And second, looking at gross margins, increase this quarter, that's great news. And how would you say plan it is mitigating the impact of inflation? You touched earlier on macroeconomic issues, but we keep seeing these wage increases and inflation and other people are struggling. So how are you all mitigating that, especially in light of expecting it to increase to 56% to 59% next quarter?

絕對，絕對。其次，看看毛利率，本季度增加，這是個好消息。你怎麼說它正在減輕通貨膨脹的影響？你之前談到了宏觀經濟問題，但我們一直看到工資上漲和通貨膨脹，其他人也在苦苦掙扎。那麼你們是如何緩解這種情況的，特別是考慮到下個季度它會增加到 56% 到 59%？

Yeah, so I would say on the gross margin line, the majority of that expense relates to either depreciation and amortization, which is a fixed number, our hosting cost, which we have a long-term contract in place and then to a much lesser degree, the cost of our professional services and customer success teams, many of which we're able to locate in geographies outside of the United States, so we can service customers on a lower cost basis. I wouldn't say that we're immune to inflation and cognizant of the impact that, that has on our employees. So we are -- I think what I would say is we're very focused and thoughtful about our hiring plans and our spending plans.

是的，所以我想在毛利率線上說，大部分費用與折舊和攤銷有關，這是一個固定數字，我們的託管成本，我們有一份長期合同，然後要少得多學位，我們專業服務和客戶成功團隊的成本，其中許多我們能夠位於美國以外的地區，因此我們可以以較低的成本為客戶提供服務。我不會說我們不受通貨膨脹的影響，也不會意識到通貨膨脹對我們員工的影響。所以我們——我想我要說的是，我們非常專注和深思熟慮我們的招聘計劃和支出計劃。

I highlighted at the Analyst Day how we think about the procurements and where there might be supply chain constraints where inflation could have a higher impact and maybe getting in front of some of those with earlier in bulk procurement. So I guess the net answer is, we're watching closely what's going on and making sure that we're thoughtful about our spending and budgeting.

我在分析師日強調了我們如何考慮採購，以及供應鏈可能存在的限制，通貨膨脹可能會產生更大的影響，並且可能會出現在一些早期批量採購的人面前。所以我想最終的答案是，我們正在密切關注正在發生的事情，並確保我們對我們的支出和預算進行了深思熟慮。

Great. I had one more follow-up on the Accenture, AWS, Microsoft. You look at marketing, will those three groups be looking into doing a lot of marketing for you? Or will it be mostly directed by Planet? Just trying to get a good feel for how we need to reach customers.

偉大的。我對埃森哲、AWS、微軟進行了另一次跟進。你看看營銷，這三個小組會考慮為你做很多營銷嗎？還是主要由 Planet 執導？只是想了解我們需要如何接觸客戶。

No, there's definitely -- marketing is part of this and we're seeing their leadership of these companies lean in and speak about Planet in high-level forms in and itself helps us. Yeah, so I think we will see them help. And again, so it broadly expands our reach and we're excited by that. Yeah, it really does expand our reach. We have a number of initiatives that through this quarter that expand our reach beyond that as well. I mean I would note a couple of things that came out recently that both the economist and Bloomberg leveraged our planetary variables and got them into their various magazines and notes.

不，肯定有 - 營銷是其中的一部分，我們看到他們的這些公司的領導層傾向於並以高層次的形式談論 Planet，這本身對我們有幫助。是的，所以我想我們會看到他們的幫助。再一次，它廣泛地擴大了我們的影響範圍，我們對此感到興奮。是的，它確實擴大了我們的影響範圍。在本季度，我們有許多舉措也擴大了我們的影響範圍。我的意思是，我會注意到最近出現的幾件事，經濟學家和彭博社都利用了我們的行星變量，並將它們納入了他們的各種雜誌和筆記中。

And just incredibly important to see how the planetary variables are powering insights into the finance sector and they're bringing awareness to our products in that sense as well, so I encourage you to have a look at those, it's quite cool to see how that's been -- and that's just the tip of the iceberg. It starts with some of that marketing piece, but I think it's typically iceberg of the potential.

非常重要的是要了解行星變量如何推動對金融部門的洞察力，並且從這個意義上講，它們也在為我們的產品帶來意識，所以我鼓勵你看看這些，很高興看到這是怎麼回事曾經——而這只是冰山一角。它從一些營銷作品開始，但我認為這通常是潛力的冰山一角。

Great. It's always good to have them do some marketing for us, that's really exciting.

偉大的。讓他們為我們做一些營銷總是好的，這真的很令人興奮。

Yeah, I was just going to add that we were on the front page of New York Times, again today is that we get a lot of this sort of free advertising in a way.

是的，我只是想補充一點，我們登上了紐約時報的頭版，今天我們又以某種方式獲得了很多此類免費廣告。

The next question is from the line of Noah Poponak with Goldman Sachs.

下一個問題來自諾亞波波納克與高盛的合作。

Sorry about that, wasn't coming through, but nice to speak to you. Ashley, so last quarter, you had guidance for revenue to grow sequentially with EBITDA to be down a decent amount and the EBITDA didn't play out that way for next quarter, you now have the same guidance revenue to be up sequentially, EBITDA to be down. If I go into your revenue guidance range and your gross margin guidance range, the operating cost between gross profit and EBITDA have to be up quite a lot sequentially to get into the EBITDA range. So what's the dynamic there? And why will that actually happen in the fourth quarter?

很抱歉，沒有通過，但很高興和你說話。 Ashley，所以上個季度，你有收入連續增長的指導，EBITDA 下降了一個可觀的數額，而 EBITDA 沒有在下個季度以這種方式發揮作用，你現在有相同的指導收入連續增長，EBITDA 到下來。如果我進入你的收入指導範圍和毛利率指導範圍，毛利和 EBITDA 之間的運營成本必須連續上升很多才能進入 EBITDA 範圍。那麼那裡的動態是什麼？為什麼這實際上會在第四季度發生？

So as I mentioned on the lower spend in Q3 on the R&D side, there was some timing of procurement and I'd say across the board, there was timing of new hires. So some of that is what you saw in Q3 and the anticipation is we'll be catching up to some of that spend and hiring in Q4, so that's a primary driver.

因此，正如我在第三季度研發方面的較低支出中提到的那樣，有一些採購時間，我想說的是，有新員工的時間安排。所以其中一些是你在第三季度看到的，預計我們將在第四季度趕上其中的一些支出和招聘，所以這是一個主要驅動因素。

That type of spending can [gross] around that much quarter-to-quarter or I would think you would be laying that out on a longer-term planning basis and that it would be smoother, but it sounds like you pretty want it.

這種類型的支出可能 [gross] 每個季度都會有那麼多，或者我認為你會在長期規劃的基礎上進行佈局，這樣會更順利，但聽起來你很想要它。

Yeah, on the Space System side, when we do procurements while we're in R&D mode for some of our newer fleets, that gets expensed as incurred as opposed to being capitalized. So that's why you can see if we make a large procurement for ground stations or some of the other spacecraft purchases that we make. If those procurements come in later, then that spend just moves from quarter-to-quarter. So yeah, so it's a little bit lumpier because of that dynamic while these fleets are in R&D mode. It obviously will smooth out until we move out of R&D mode and into capitalizing those expenses and then it would just obviously be capitalized as CapEx and run through D&A primarily through gross margin in future years.

是的，在太空系統方面，當我們在研發模式下為一些較新的艦隊進行採購時，它會在發生時被列為費用，而不是被資本化。所以這就是為什麼你可以看到我們是否為地面站或我們進行的其他一些航天器採購進行了大量採購。如果這些採購稍後進行，那麼該支出就會逐季變化。所以是的，所以當這些艦隊處於研發模式時，由於這種動態，它有點笨拙。在我們退出研發模式並將這些費用資本化之前，它顯然會順利進行，然後它顯然會被資本化為資本支出，並在未來幾年主要通過毛利率通過 D&A 運行。

Okay. And then two months through the quarter here, you're almost to your fiscal year-end, so you're doing a lot of planning for next year. How are you feeling about how next year's total company organic revenue growth will compare to this year's? And how are you feeling about the ability to march towards breakeven EBITDA?

好的。然後在這個季度的兩個月裡，你幾乎到了你的財政年度結束時，所以你正在為明年做很多計劃。與今年相比，您對明年公司總有機收入增長有何看法？您對實現盈虧平衡 EBITDA 的能力有何看法？

Well, overall, we feel very good about the tailwinds behind the company right now. And I mentioned just the demand on pipeline earlier, for example, is really strong, slightly more cautious on the commercial segment for reasons we discussed, very bullish on the government segment, both the civil and defense intelligence. Extremely pleased with the team's execution across the board on product side and the sales and marketing side. And so that feels like we're well set up. Similar to last year, we'll provide guidance on the next earnings call for next year.

嗯，總的來說，我們現在對公司背後的順風感到非常滿意。例如，我之前提到過對管道的需求非常強勁，出於我們討論的原因，對商業領域的需求略微謹慎，對政府部門非常看好，包括民用和國防情報。對團隊在產品方面以及銷售和營銷方面的全面執行感到非常滿意。所以感覺我們已經做好了準備。與去年類似，我們將在明年的下一次財報電話會議上提供指導。

That concludes our Q&A session. There are no more questions and I will turn it back to Will Marshall for closing remarks.

我們的問答環節到此結束。沒有其他問題了，我將把它轉回 Will Marshall 作結束語。

Thanks, everyone. Thanks for joining the call today. I'd just like to enter just a couple of three key points to conclude. So I think our Q3 results were really strong, underscoring the durability and demand for our mission-critical solution. I'm very proud of our sales deals, those I touched upon and the strategic partnerships. It's fair to see those global technology leaders leaning into Planet's tools and to develop new solutions for their clients. I'm also excited by the acquisition of Salo Sciences. As I mentioned, we see a carbon planetary variable is a critical element to the sustainability transition, so that's exciting. And finally, we remain confident in our opportunity despite the current macroeconomic environment and continue to invest in the long run, while maintaining our focus on the path of profitability. So thanks everyone for calling in today.

感謝大家。感謝您今天加入電話會議。我只想輸入幾個三個關鍵點作為結論。因此，我認為我們第三季度的業績非常強勁，凸顯了我們的關鍵任務解決方案的耐用性和需求。我為我們的銷售交易、我提到的那些交易以及戰略合作夥伴關係感到非常自豪。看到這些全球技術領導者使用 Planet 的工具並為他們的客戶開發新的解決方案是公平的。我也對收購 Salo Sciences 感到興奮。正如我所提到的，我們看到碳行星變量是可持續發展轉型的關鍵因素，這令人興奮。最後，儘管當前的宏觀經濟環境不佳，我們仍然對我們的機會充滿信心，並繼續進行長期投資，同時保持對盈利路徑的關注。感謝大家今天的來電。

That concludes today's conference call. Thank you for your participation. Please enjoy the rest of your day.

今天的電話會議到此結束。感謝您的參與。請享受您剩下的一天。