Planet Labs PBC Q4 2026 Earnings Recap

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.