US Stock Market Move | After the Q3 adjustment, Planet Labs PBC (PL.US) reported an EBITDA profit and saw its stock price skyrocket by over 20% at the opening.

On Thursday, Planet Labs PBC (PL.US) opened up more than 20%, approaching its historical high in October, now trading at $15.60. In terms of news, the company's third-quarter revenue was $81.3 million, a 33% year-on-year increase. The non-GAAP gross margin for this quarter was 60%. Adjusted EBITDA profit was $5.6 million for this quarter, marking the fourth consecutive quarter of adjusted EBITDA profitability. It also achieved positive free cash flow for the third consecutive quarter and expects to maintain positive free cash flow for the entire fiscal year. The company expects fourth-quarter revenue to be between $76 million and $80 million, a roughly 27% increase from the same period last year (midpoint calculation). The non-GAAP gross margin for the fourth quarter is expected to be between 50% and 52%. Due to further investments in artificial intelligence solutions and the next generation of fleet, the adjusted EBITDA loss for the fourth quarter is estimated to be between $7 million and $5 million.