Planet Labs PBC Earnings Recaps
Q2 2027
Sep 5, 2026
Investors appeared disappointed by the quarter’s outlook or mix despite record revenue and better-than-expected gross margin, sending Planet Labs shares down 9.4% after earnings. The transcript highlights strong defense and satellite-services execution, but the material selloff suggests expectations were not met by the forward trajectory or the durability of current growth.
Key takeaways
- Q2 revenue reached a record $116 million, up approximately 58% year over year.
- Non-GAAP gross margin was 59%, described as better than expected; the company also exceeded the Rule of 40 for a fourth consecutive quarter.
- Defense and Intelligence revenue grew more than 90% year over year, while civil government revenue increased over 5%.
- Recent bookings included an $8 million NGA contract, a 7-figure European defense agreement, and a German satellite-services tender with a maximum value of €25 million over five years.
- Satellite-services opportunities exceed $4 billion, with more than 25% classified as near-term pipeline, but the 9.4% stock decline indicates investors focused more heavily on forward expectations than on the reported quarter.
Q4 2026
Mar 20, 2026
Planet Labs PBC achieved record annual revenue of $308 million in FY 2026, reflecting 26% year-over-year growth, alongside strong profitability metrics and significant contract wins in the Defense and Intelligence sectors.
Key takeaways
- Q4 revenue reached a record high with 41% year-on-year growth, marking the company's fifth consecutive quarter of adjusted EBITDA profitability.
- The company signed major agreements, including a €240 million deal funded by Germany and a nine-figure contract with Sweden, contributing to an end-of-period backlog exceeding $900 million, a 79% increase year over year.
- Full-year non-GAAP gross margin was 59%, with adjusted EBITDA profit of $15.5 million and positive free cash flow of $53 million, achieving profitability a year earlier than anticipated.