PlanetScope Business Model and Operating Leverage
A Business Model with Strong Operating Leverage
COGS
Description
Cloud Hosting Costs
Commentary
Low incremental cost to serve a data
subscription model
Mission Operations Teams
Technical Support
Professional Services
"
Self-serve model drives high gross
margins
Long-Term Target¹
15-20%
24
24
Spacecraft & Engineering Operations
Software Development & Data Science
R&D investments in tools for enhanced
data insights and analytics
16-19%
R&D
"
Space investments in new ESG data
sets and ML-readiness
S&M
G&A
Capex
Sales (Direct & Channel)
Marketing
Customer Success
Scalable model through platform
24-27%
ecosystem
"
Multi-year subscription model drives
high Customer Lifetime Value
Corporate Functions (Finance, HR,
Legal, Regulatory)
Overhead allocated across departments
Scales with absorption of public
company costs
Space Capex includes Bill of Materials,
manufacturing, and launch ground
stations (non-leased)
Leasehold improvements
6-9%
Agile approach drives manufacturing
efficiency and reduced Bill of Materials
costs
5-8%
Satellite payback period <1 year
Long-Term FCF² Margin:
20-35%
p
'Represents expense as a percentage of revenue.
2Free Cash Flow defined as Adjusted EBITDA less capital expenditures, and free cash flow margin as the percentage of free cash flow relative to net revenue during a given period.View entire presentation