Planet (PL) Q1 2024 results

Shares of Planet fell after the satellite-imagery and data-analysis company cut its annual revenue guidance following when it reported first-quarter results Thursday.

The company lowered its guidance for its current fiscal-year 2024 revenue to a range of $225 million to $235 million, down from its previous forecast of between $248 million and $268 million. Planet also said it expected wider losses on an adjusted EBITDA basis, increasing its forecast to a range of between $58 million and $67 million from a range of between $37 million and $47 million.

Shares of Planet fell as much as 25%…