XML 46 R32.htm IDEA: XBRL DOCUMENT v3.21.4

Summary of Significant Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Oct. 31, 2021

Sep. 30, 2021

Jan. 31, 2021

Schedule of the impact of the revision to the Post-IPO balance sheet

The change in the carrying value of the redeemable Class A common stock in the Post-IPO Balance Sheet resulted in a reclassification of approximately 1.6 million shares of Class A common stock from permanent equity to temporary equity. The impact of the revision to the Post-IPO Balance Sheet is as follows:

As of March 9, 2021		As Reported				Adjustment				As Restated
Total assets		$	347,538,706							$	347,538,706
Total liabilities		$	13,294,983							$	13,294,983
Class A common stock subject to possible redemption			329,243,720				15,756,280				345,000,000
Preferred stock			—				—				—
Class A common stock			158				(158	)			—
Class B common stock			863				—				863
Additional paid-in capital			5,037,145				(5,037,145	)			—
Accumulated deficit			(38,163	)			(10,718,977	)			(10,757,140	)
Total stockholders’ equity (deficit)		$	5,000,003			$	(15,756,280	)		$	(10,756,277	)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit)		$	347,538,706			$	—			$	347,538,706

Schedule of effect of the financial statement adjustments related to the restatement of balance sheet

The change in the carrying value of the redeemable Class A common stock at March 31, 2021 resulted in a reclassification of approximately 5.1 million shares of Class A common stock from permanent equity to temporary equity. The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of March 31, 2021:

As of March 31, 2021 (unaudited)		As Reported				Adjustment				As Restated
Total assets		$	346,518,868							$	346,518,868
Total liabilities		$	47,189,952							$	47,189,952
Class A common stock subject to possible redemption			294,328,910				50,671,090				345,000,000
Preferred stock			—				—				—
Class A common stock			507				(507	)			—
Class B common stock			863				—				863
Additional paid-in capital			19,549,351				(19,549,351	)			—
Accumulated deficit			(14,550,715	)			(31,121,232	)			(45,671,947	)
Total stockholders’ equity (deficit)		$	5,000,006			$	(50,671,090	)		$	(45,671,084	)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit)		$	346,518,868			$	—			$	346,518,868

The change in the carrying value of the redeemable Class A common stock at June 30, 2021 resulted in a reclassification of approximately 5.1 million shares of Class A common stock from permanent equity to temporary equity. The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of June 30, 2021:

As of June 30, 2021 (unaudited)		As Reported				Adjustment				As Restated
Total assets		$	345,880,864							$	345,880,864
Total liabilities		$	46,788,321							$	46,788,321
Class A common stock subject to possible redemption			294,092,540				50,907,460				345,000,000
Preferred stock			—				—				—
Class A common stock			509				(509	)			—
Class B common stock			863				—				863
Additional paid-in capital			19,785,719				(19,785,719	)			—
Accumulated deficit			(14,787,088	)			(31,121,232	)			(45,908,320	)
Total stockholders’ equity (deficit)		$	5,000,003			$	(50,907,460	)		$	(45,907,457	)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit)		$	345,880,864			$	—			$	345,880,864

Schedule of effect of the financial statement adjustments related to the restatement of cash flows

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited statement of cash flows for the three months ended March 31, 2021:

		For the three months ended March 31, 2021 (unaudited)
		As Reported				Adjustment				As Restated
Supplemental Disclosure of Noncash Financing Activities:
Value of Class A common stock subject to possible redemption		$	294,328,910			$	(294,328,910	)		$	—

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited statement of cash flows for the six months ended June 30, 2021:

		For the period six months ended June 30, 2021 (unaudited)
		As Reported		Adjustment				As Restated
Supplemental Disclosure of Noncash Financing Activities:
Value of Class A common stock subject to possible redemption		$294,092,540		$	(294,092,540	)		$	—

Schedule of the weighted average shares outstanding and basic and diluted earnings per common share

		Earnings Per Share for Class A common stock
		As Reported				Adjustment				As Adjusted
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited)
Net loss		$	(14,549,315	)		$	—			$	(14,549,315	)
Weighted average shares outstanding			7,787,500				—				7,787,500
Basic and diluted earnings per share		$	0.00			$	(0.88	)		$	(0.88	)
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited)
Net loss		$	(236,373	)		$	—			$	(236,373	)
Weighted average shares outstanding			34,500,000				—				34,500,000
Basic and diluted earnings per share		$	0.00			$	(0.01	)		$	(0.01	)
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited)
Net loss		$	(14,785,688	)		$	—			$	(14,785,688	)
Weighted average shares outstanding			34,500,000				(12,770,718	)			21,729,282
Basic and diluted earnings per share		$	0.00			$	(0.49	)		$	(0.49	)
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited)
Net loss		$	(14,549,315	)		$	—			$	(14,549,315	)
Weighted average shares outstanding			7,778,090				846,910				8,625,000
Basic and diluted earnings per share		$	(0.06	)		$	(0.82	)		$	(0.88	)
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited)
Net loss		$	(236,373	)		$	—			$	(236,373	)
Weighted average shares outstanding			8,625,000				—				8,625,000
Basic and diluted earnings per share		$	(0.03	)		$	0.02			$	(0.01	)
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited)
Net loss		$	(14,785,688	)		$	—			$	(14,785,688	)
Weighted average shares outstanding			8,208,564				—				8,208,564
Basic and diluted earnings per share		$	(1.80	)		$	1.31			$	(0.49	)

Schedule of earnings per share, basic and diluted

The following table presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock:

		For the Three Months Ended September 30, 2021								For the Nine Months Ended September 30, 2021
		Class A				Class B				Class A				Class B
Basic and diluted net income (loss) per common share:
Numerator:
Allocation of net income (loss)		$	(5,308,662	)		$	(1,327,165	)		$	(16,219,758	)		$	(5,201,757	)
Denominator:
Basic and diluted weighted average common shares outstanding			34,500,000				8,625,000				26,032,967				8,348,901
Basic and diluted net income (loss) per common share		$	(0.15	)		$	(0.15	)		$	(0.62	)		$	(0.62	)

Planet Labs Inc.

Schedule of earnings per share, basic and diluted

The following table sets forth the computation of basic and diluted loss per Class A common stock and Class B common stock (amounts in thousands, except share and per share amounts):

		Nine Months Ended October 31,
		2021				2020
Numerator:
Net loss attributable to common stockholders		$	(91,159	)		$	(89,605	)
Denominator:
Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders			30,264,402				28,640,817
Basic and diluted net loss per share attributable to common stockholders		$	(3.01	)		$	(3.13	)

The following table sets forth the computation of basic and diluted loss per Class A common stock and Class B common stock (amounts in thousands, except share and per share amounts):

		Year Ended January 31,
		2021				2020
Numerator:
Net loss attributable to common stockholders		$	(127,103	)		$	(123,714	)
Denominator:
Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders			28,863,607				27,981,802
Basic and diluted net loss per share attributable to common stockholders		$	(4.40	)		$	(4.42	)

Schedule of Cash Flow, Supplemental Disclosures

A reconciliation of the Company’s cash and cash equivalents in the unaudited condensed consolidated balance sheets to cash, cash equivalents and restricted cash in the unaudited condensed consolidated statements of cash flows as of October 31, 2021 and January 31, 2021 is as follows:

		October 31,				January 31,
(in thousands)		2021				2021
Cash and cash equivalents		$	58,989			$	71,183
Restricted cash, current			309				375
Restricted cash, non-current			5,749				4,982
Total cash, cash equivalents and restricted cash		$	65,047			$	76,540

A reconciliation of the Company’s cash and cash equivalents in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash in the Consolidated Statements of Cash Flows as of January 31, 2021 and 2020 is as follows:

		January 31,
(in thousands)		2021				2020
Cash and cash equivalents		$	71,183			$	21,678
Restricted cash, current			375				1,576
Restricted cash, non-current			4,982				4,485
Total cash, cash equivalents and restricted cash		$	76,540			$	27,739

Schedule of the change in the Company's allowance for doubtful accounts

The change in the Company’s allowance for doubtful accounts is as follows:

		Year Ended January 31,
(in thousands)		2021				2020
Balance, beginning of year		$	843			$	5,300
Charges			823				649
Write-offs			(619	)			(4,702	)
Other			168				(404	)
Balance, end of year		$	1,215			$	843

Schedule of Finite-Lived Intangible Assets

Intangible assets with finite useful lives are carried at cost, net of accumulated amortization and impairment, where applicable. Amortization is recorded over the estimated useful lives of the assets on a straight-line basis as follows:

		Estimated useful life (in years)
Developed technology			5
Imagery library			3
Customer relationships			5
Trade names and other			5 to 7

Summary of property, plant and equipment

Depreciation is computed once an asset is placed in service using the straight-line method over the estimated useful life of the asset, which is as follows:

		Estimated useful life
		(in years)
Computer equipment and purchased software			3
Office furniture, equipment and fixtures			5
Satellites			2.2 to 9
Ground stations and ground station equipment			3 to 10
Leasehold improvements			lesser of useful life or term of lease

Depreciation is computed once an asset is placed in service using the straight-line method over the estimated useful life of the asset, which is as follows:

		Estimated useful life (in years)
Computer equipment and purchased software			3
Office furniture, equipment and fixtures			5
Satellites			2.5 to 6
Ground stations and ground station equipment			3 to 10
Leasehold improvements			lesser of useful life or term of lease

X

- Definition

Schedule of error corrections and prior period adjustments of amounts of weighted average shares outstanding and basic and diluted earnings per common share.

+ References

No definition available.

+ Details

Name:	dmyq_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsOfAmountsOfWeightedAverageSharesOutstandingAndBasicAndDilutedEarningsPerCommonShareTableTextBlock
Namespace Prefix:	dmyq_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of error corrections and prior period adjustments of financial statement.

+ References

No definition available.

+ Details

Name:	dmyq_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsOfFinancialStatementTableTextBlock
Namespace Prefix:	dmyq_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of error corrections and prior period adjustments of supplemental disclosure of noncash financing activities restatement.

+ References

No definition available.

+ Details

Name:	dmyq_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsOfSupplementalDisclosureOfNoncashFinancingActivitiesRestatementTableTextBlock
Namespace Prefix:	dmyq_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of property plant and equipment.

+ References

No definition available.

+ Details

Name:	dmyq_ScheduleOfPropertyPlantAndEquipmentTableTextBlock
Namespace Prefix:	dmyq_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

+ Details

Name:	us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

Name:	us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	dei_LegalEntityAxis=dmyq_PlanetLabsIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: