受地缘政治紧张局势与全球化退潮推动，卫星影像需求持续上升，为PL的业务提供支撑；管理层正加大投入以把握这一增长机遇。
逐段跳播
Planet Labs 是一家将太空、卫星影像与人工智能相结合，为客户创造价值的公司，其客户包括企业和政府机构。
Planet Labs is a company that combines space, satellite imagery and artificial intelligence to deliver value to its clients , which include businesses and government institutions.
但近几周股价有所下跌，因此投资者很好奇，纷纷问我：“Planet Labs 的股票到底怎么了？”Planet Labs 的管理团队表示，他们又实现了一个出色的季度，营收达到 1.16 亿美元，同比增长 58%。
But the stock price has fallen in recent weeks, so investors are curious and asking me: "What's happening to Planet Labs stock?" Planet Labs' management team said they achieved another excellent quarter with revenues of $ 116 million, a 58% year-over-year increase.
公司上个季度超出预期的部分原因在于，他们比预期更早地向一位客户交付了产品。因此，这笔收入在上个季度就得以确认，而此前预计它会在下个季度才入账。
Now, part of the reason the company exceeded expectations in its last quarter is that they delivered a product to one of their customers earlier than expected. Therefore, the revenue was realized during the last quarter, whereas it was previously expected to come in the next quarter.
管理层强调了其卫星服务交易的强劲执行，以及数据和解决方案业务的持续增长势头。
Management highlighted the strong execution of their satellite services deals, as well as the continued momentum in their data and solutions business.
他们已完成瑞典武装部队首颗主权对地观测卫星的调试和交付，并成功发射了下一代 Pelican 技术原型。这颗为瑞典武装部队提供的观测卫星就是本季度交付的产品，而他们此前预计它或许会在下个季度交付。因此，这笔收入比预期更早地得到确认。
They have completed the commissioning and delivery of the first sovereign Earth observation satellite for the Swedish Armed Forces, and successfully launched their next-generation Pelican technology prototype.
This observation satellite for the Swedish Armed Forces was the product delivered during the current quarter, whereas they had expected it to be delivered perhaps in the next quarter.
Thus, the revenue was recognized earlier than expected.
他们还交付了第二颗卫星“Tanager”，以及 18 颗待发射的“Super Dove”卫星。他们通过发射影像能力大幅扩展和提升的新一代卫星来持续创新，并且能够比此前估计的快得多地监测和交付这些影像。
因此，他们力求更快地为客户提供更好的图像。这正是公司及其客户真正价值所在。
They also shipped their second satellite, " Tanager," and 18 "Super Dove" satellites for launch. They continue to innovate by launching newer satellites with significantly expanded and improved imagery, and they are able to monitor and deliver that imagery much faster than previously estimated .
Therefore, they try to provide better images more quickly to their customers. This is where the true value of the company and its customers lies.
此外，他们通过为客户整合图像分析服务来增加价值，为其所提供的产品增添更大的价值和独特性，客户包括企业和政府机构。
Furthermore, they add value by integrating image analysis services for their clients, adding greater value and distinction to what they offer, including businesses and government institutions.
他们重点介绍了其卫星影像的一些应用场景，包括灾害响应、资源管理，以及最近且愈发重要的国家安全。事实上，国防与情报领域再次成为他们最强劲的板块，实现了 90% 的同比营收增长。
They highlight some of the use cases for their satellite imagery, which include disaster response, resource management, and, more recently and importantly, national security. In fact, the defense and intelligence sector was once again their strongest area, achieving revenue growth of 90% year-on-year.
他们的欧洲、中东和非洲板块是其所有运营地区中营收增长最大的地区。当然，这并非巧合。该地区正是两场战争——或者可以说多场战争——正在发生的地方，即中东以及俄罗斯与乌克兰之间。
Their sector in Europe, the Middle East and Africa was the region that achieved the greatest revenue growth among all the regions in which they operate . And of course, this is not a coincidence.
That is the region where two wars, or you could say multiple wars, are taking place in the Middle East and between Russia and Ukraine.
以色列与邻国之间、以及美国、伊朗与邻国之间的所有这些冲突，都增加了对卫星影像的需求，以便实时监测正在发生的情况，从而支持国家安全决策。
All those conflicts between Israel and neighboring countries, and the United States, Iran and neighboring countries, have increased the need for satellite imagery to monitor what is happening moment by moment, in order to support national security decision-making.
因此，在季度结束后，他们实际上又获得了两份合同。他们赢得了与 National Geographic Initiative（NGI）的一份价值 800 万美元的新合同，以及另一份金额较小的七位数合同。
So, after the quarter ended, they actually got two more contracts. They were awarded a new $8 million contract with the National Geographic Initiative (NGI), and another seven- figure contract for a smaller amount.
该公司建立了一个庞大的影像档案库，涵盖地球陆地上每一个点的数千张图像，提供一种周界视图，借助人工智能驱动的模式识别技术，为客户提供战略预警和警报能力，以预判模式识别并识别新出现的威胁。
The company has created a massive archive of thousands of images for every point on Earth's landmass, providing a perimeter view that, thanks to AI-powered pattern recognition technologies , gives customers a strategic alerting and warning capability to anticipate pattern detection and identify emerging threats.
当然，近年来随着地缘政治紧张局势加剧，这已变得越来越必要。难道不是吗？俄罗斯在其所在地区及周边变得更加咄咄逼人。乌克兰遭到入侵。过去十年间它还进行了多次其他扩张尝试。然后是中东，涉及以色列、黎巴嫩、沙特阿拉伯、也门的胡塞武装、伊朗及其周边地区，所有这些都导致对此类影像的需求增加。这种情况不太可能在短期内结束。
Of course, in recent years, with increasing geopolitical tensions, this has become increasingly necessary. Isn't that so? You have Russia, which has become more aggressive in its region and around it.
Ukraine has been invaded. It has made several other expansion attempts over the past decade. Then you have the Middle East with Israel, Lebanon, Saudi Arabia, the Houthis in Yemen, Iran and its neighboring regions, all of which leads to increased demand for this type of imagery. This is unlikely to end anytime soon.
这种去全球化趋势的转变已经发生，我此前谈到去全球化、国家脱钩以及国家间贸易减少也会加剧冲突。如果你与另一个国家打交道、做生意、交换商品并达成交易，你就不太可能卷入实体或军事冲突。
因此，国家间贸易的下降以及这种下降的加速，未来可能会导致国家间更多冲突。这对这些地区及其周边的人们来说令人担忧，但对 Planet Labs 的业务而言，这意味着对其产品和服务的需求增加。
This shift towards the decline of globalization has occurred, and I was talking about how the decline of globalization, the decoupling of countries, and the reduction of trade between them also increase conflicts.
If you are dealing with another country, if you are doing business, exchanging goods and making deals, you are unlikely to get involved in a physical or military conflict. Therefore, the decline in trade between countries and the acceleration of this decline are likely to cause more conflicts between countries in the future.
This is worrying for people in and around these areas , but for Planet Labs' business, it means increased demand for its products and services.
有趣的是，他们在这些特定类别中的收入正在增长。管理团队正在投资增加新能力，以满足当前及不断增长的产品和服务需求。
Interestingly, their revenues are growing in these specific categories. The management team is investing in adding new capabilities in order to meet the current and growing demand for their products and services.
这个频道对 $PL 的历次判断
Parkev Tatevosian, CFA 在这只股票上只有这一条判断。