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We’re both utterly alone within the universe or we’re not. Both final result is equally terrifying, so it’s greatest not to consider that stuff an excessive amount of and keep centered on stonks. Planet Earth is our solely residence, and understanding it by imagery is now attainable due to geospatial intelligence distributors just like the aptly named Planet Labs (PL).
Why We Invested in Planet Labs
Our thesis was merely this. Most NewSpace themes are low margin capital intensive ventures that don’t provide software-like gross margins. Planet Labs was an exception to that rule with their “capital gentle” geospatial intelligence enterprise that’s a reduce above the opposite pure play publicly traded geospatial intelligence corporations on the market. We put money into leaders, and Planet Labs leads by way of revenues and market cap when in comparison with different pure play geospatial intelligence shares.
Then the issues began. First we seen it within the proprietary metric Planet launched known as “winbacks.” This was alleged to measure clients whose contracts lapsed, then salespeople chased them all the way down to resubscribe. If Planet’s resolution is so helpful, then folks ought to be proactively renewing their contracts as an alternative of getting to be chased. Of their latest earnings name, the corporate cites seasonality as an evidence for “gaps between when a contract expires and when the client focuses on the renewal.” Honest sufficient, so we will have a look at net retention rate (NRR), one thing that has been risky and ended this yr at a dismal 101% (partially defined by contractions of certai
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