As Planet accelerates its evolution into a leading core data platform and satellite services company, we are taking steps to ensure that our strategic leadership is optimized for this long term vision. With this in mind, we're pleased to announce key changes to our Board of Directors that will help guide us in this next chapter.

First of all, Heidi Roizen and Niccolo de Massi will be stepping down from Planet’s board. I’d like to thank Heidi and Niccolo for their years of dedication and service. Heidi joined Planet’s board in March 2018, from Threshold Ventures (formerly Draper Fisher Jurvetson (DFJ)), a long-standing Silicon Valley venture capital firm. She has brought a wealth of experience and steadiness to Planet’s board, and I’m forever thankful for her wisdom and counsel. Niccolo joined us in December 2021, bringing his strategic business acumen and expertise in public markets to the board. We are immensely grateful for his guidance in navigating our transition to a publicly listed company and his continued counsel as we operate in the public sphere.

During their tenure, seven and four years, respectively, Planet has launched 18 times, deploying over 350 satellites into orbit, transforming our data collection capabilities, including our new high-resolution Pelicans and the hyperspectral imagery from Tanager. The business itself has seen significant growth, delivering revenue CAGR of over 20% during both of their tenures. We also achieved our first quarter of Adjusted EBITDA profitability and first quarter of Free Cash Flow profits. And last year we strategically expanded our satellite services business through our commercial deals with JSAT and Germany— leveraging our core strength of building, launching, and operating large fleets of Earth imaging satellites.

“Serving on the Planet board for the last 7 years has been a highlight of my career,” Heidi said. “It’s been a privilege to help steward the company as it has developed, launched, and now operates the largest Earth Observation satellite fleet in history. What they’ve already achieved has changed the world for the better — and they’re just getting started. Ad astra :)”

“I’m very proud of the growth and scaling Planet has achieved” says Niccolo. “During my time on the board we’ve reached some incredible milestones, including taking the company public and achieving multiple profitability milestones, and I couldn’t be more excited for what the next phase of the business will bring.”

As we reflect on these incredible achievements and the foundational contributions of Heidi and Niccolo, we also look to the future. Our vision for this next chapter was clear when we embarked on our board search: to welcome leaders who could bring deep government and national security experience —particularly as we expand our satellite services business—as well as unparalleled expertise as seasoned leaders.

Earlier this year, we were delighted to add General John W. "Jay" Raymond to Planet’s board. As the first Chief of Space Operations of the U.S. Space Force and a member of the Joint Chiefs of Staff, Jay lends his unique blend of experience and insights across government space operations and national security strategy. His strategic guidance will be instrumental as we deepen our partnerships with the U.S. government and the Intelligence Community, ensuring our data continues to serve vital missions.

At our Annual General Meeting of the shareholders on July 10, we voted to approve adding Gary B Smith, President and CEO of Ciena. Gary has the consummate CEO experience we sought and his leadership roles across technology, operations, and sales will be invaluable to Planet's continued growth as a data platform company. His leadership at Ciena, a global industry leader in high-speed connectivity, demonstrates his ability to scale businesses and navigate complex technological landscapes. Gary will be instrumental in helping us further capitalize on market opportunities and drive our next phase of progress.

"I am honored to have been elected to join Planet's Board of Directors at such an exciting time as the company drives growth and bottom line performance," said Gary B. Smith. "What drew me to Planet, like so many, was its mission: to use its deep and unique dataset and collaboration to drive meaningful impact. I look forward to contributing to Planet's continued success and its vital role in shaping our understanding of the world.”

This thoughtful evolution of our Board ensures Planet is optimally positioned to execute on our next phase of growth. I send my deepest thanks to Heidi and Niccolo for their tireless contributions that have been instrumental in our success thus far. With Gary and Jay now complementing our Board's existing strengths, we are better equipped than ever to accelerate our strategic priorities, expand our global impact, and continue to innovate at the forefront of the space industry. I look forward to working closely with our strengthened Board as we build the future of Planet together.