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Financial Outlook
For the fourth quarter of fiscal year 2024, ending January 31, 2023, Planet expects revenue to be in the range of approximately $56 million to $59 million, representing approximately 9% year-over-year growth at the midpoint. Non-GAAP Gross Margin is expected to be in the range of approximately 52% to 56%. Adjusted EBITDA loss is expected to be in the range of approximately ($12) million and ($9) million. Capital Expenditures as a Percentage of Revenue is expected to be in the range of approximately 25% to 27% for the quarter.
For fiscal year 2024, ending January 31, 2024, Planet expects revenue to be in the range of approximately $218 million to $221 million, representing approximately 15% year-over-year growth at the midpoint. Non-GAAP Gross Margin is expected to be in the range of approximately 53% to 54%. Adjusted EBITDA loss is expected to be in the range of approximately ($58) million and ($55) million. Capital Expenditures as a Percentage of Revenue is expected to be in the range of approximately 21% to 22% for the full fiscal year 2024.
Planet has not reconciled its Non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses and depreciation and amortization are uncertain or out of Planet's control and cannot be reasonably predicted. The actual amount of these expenses during the fourth quarter of fiscal year 2024 and fiscal year 2024 will have a significant impact on Planet's future GAAP financial results. Accordingly, a reconciliation of Planet's Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts.
The foregoing forward-looking statements reflect Planet's expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially.
Posted In: PL
