Planet Labs PBC at Citi Global Industrial Tech and Mobility Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jason Gursky - Citi - Analyst : Okay. Awesome. And just to kind of educate those in the room that may not be as familiar with the NGA and the NRO today because you're helping to advise Planet Federal, which is, I'm guessing, largely focused on -- D&I customers for the company. So you've got the National Geospatial Intelligence Agency that historically had been responsible for procuring commercial imagery. That's now shifted over to the NRO and they're now responsible for procuring commercial imagery as well as developing and operating the nation's classified satellites?

Question: Jason Gursky - Citi - Analyst : Okay. Perfect. So maybe describe a little bit about how Planet gets involved in that ecosystem. Where is the company playing today, recognizing that there's the NRO relationship. There are, I think, buddling relationships with DoD directly as well. But just kind of talk to us how you move around the beltway and what are you up to?

Question: Jason Gursky - Citi - Analyst : Okay. As we step back and think about Planet Federal in the context of planning Corporate, PBC -- PBC, right? How big is Planet Federal? How important of a piece is this to the company at this point today? And then we're going to talk about a little bit about the future?

Question: Jason Gursky - Citi - Analyst : Okay. So it's a big growth driver for the company. So that's a perfect segue. You mentioned Munich. So today, you are servicing the US customer through various agencies, both delivering data and doing some analytics, both on the civil as well as on the intelligence side of things. Fair to say -- and now we've got -- we wake up sometime last week, and our friends are still our friends, but maybe we've got them on the back foot kind of rethinking. And I suspect any government that wants to worry about the homeland, first and foremost, wants to know what the heck is going on out there around in the world. And that's obviously, one area that planted and some of your commercial competitors can help solve. And in fact, we saw -- two weeks ago, I think it was, Planet to put out a press release about a fairly sizable contract that they want with an unnamed government customer to build an undefined number of satellites for a foreign government to provide the kind of eyes over the regional world in which they live and plant will use the excess capacity in other parts of the world. So in a way, the commercial industry can act as kind of an outsourced NRO for a country that doesn't have those capabilities. I'm just kind of curious, you're coming out of Munich or those conversations that you had, what are you hearing from customers overseas, potential customers overseas and how quickly can that translate into -- you mentioned sometimes things aren't good for the Planet or good for the Planet. When do these things turn into good things for Planet?

Question: Jason Gursky - Citi - Analyst : So can you tell the audience JSAT Japan.

Question: Jason Gursky - Citi - Analyst : Okay, but it's based in Japan? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 19, 2025 / 7:40PM, PL.N - Planet Labs PBC at Citi Global Industrial Tech and Mobility Conference

Question: Jason Gursky - Citi - Analyst : Yeah. When you think about NATO today, stripping out NRO assets and things at the OI states might be contributing to that. What types of indigenous capabilities are there amongst the other countries in NATO?

Question: Jason Gursky - Citi - Analyst : Or the NATO countries, I guess, it's --

Question: Jason Gursky - Citi - Analyst : Yeah. So the conversations that you had then last week are, are we delivering pixels? Are we delivering analytics? Is it both? What do you -- how do you think this plays out here in the near term for?

Question: Jason Gursky - Citi - Analyst : Yeah. And do you think there's going to be appetite for US-based companies to be a part of that ecosystem? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 19, 2025 / 7:40PM, PL.N - Planet Labs PBC at Citi Global Industrial Tech and Mobility Conference

Question: Jason Gursky - Citi - Analyst : Right. Does anybody have any questions from the floor at this point? I want to make sure we're keeping everybody engaged here. So I can certainly keep going. Okay. Well, until somebody yells at us. So I believe the company has made some acquisitions over time, including in Europe, right? So you guys already have kind of a toehold on that side of the Atlantic? Will that be --

Question: Jason Gursky - Citi - Analyst : Okay. Got it. Talk just a little bit about from your perspective? So we've got -- Europe needs to go do their thing now, and there's maybe a chance for you all to plug in there with both data and our analytic skill sets. Part of what we heard over the last week is the need to focus on the Homeland, securing our borders, Iron Dome, and then the two things that have kind of come top of to the front fold of the page for, I guess, top fold and then the Indo-Pacific. So maybe start with what's going on here at the Homeland. Where can Planet get involved in helping to secure the Homeland as defined by the current administration?

Question: Jason Gursky - Citi - Analyst : Leading up to that.

Question: Jason Gursky - Citi - Analyst : Okay. Fair enough. So let's move over to the Indo Pacific then -- you've got the JSAT agreement. I don't know that the company has ever disclosed how many international customers it's working with on the D&I side, the defense and intelligence side, but --

Question: Jason Gursky - Citi - Analyst : But I guess where I was going to go with it. I suspect though that there is continued growth opportunities for the company beyond JSAT.

Question: Jason Gursky - Citi - Analyst : Right. The last 30 seconds we have left here, your strategy at the corporate level. Just kind of curious how you are viewing the market overall, commercial D&I where do you -- where should the company be spending its time and investment dollars at this point from a strategy perspective?

Question: Jason Gursky - Citi - Analyst : Okay. Perfect. Thanks, everybody, in the room for hanging with us. Robert, as always. Great to see you. Really appreciate it.