Why Planet Labs Stock Crashed on Friday
Shares of Planet Labs (NYSE: PL) tumbled 15% through 11:35 a.m. ET Friday after the company reported last night that it had missed earnings forecasts.
Heading into the report, Wall Street analysts forecast the Earth observation space stock would lose $0.02 per share in the fiscal 2025 fourth quarter on $61.9 million in sales. Instead, the company reported a loss of $0.08 per share, and sales of only $61.6 million.
The news gets worse. Sales growth for the quarter was only 5% year over year. Also, the $0.08 loss was only an adjusted number. When calculated according to generally accepted accounting principles (GAAP), the company actually lost $0.12 per share, with $0.06 of the loss coming from what it called "impact from the change in fair value of warrant liabilities."
Source Fool.com
