Planet Labs PBC (PL)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$378.3M

Revenue growth

44.1%

Net income, last twelve months

-$359.9M

Earnings per share

-$1.10

Gross margin

55.4%

Operating margin

-27.2%

Net margin

-95.1%

Free cash flow

$24.7M

Return on equity

-63.8%

Market value

$5.2B

Cash

$415.1M

Debt

$448.3M

Debt to equity

0.79

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal year 2027 results, filed 3 September 2026.

• Revenue rose 58% to a record. Revenue was $116.1 million, up from $73.4 million a year earlier. GAAP gross margin was 57%, against 58% a year earlier.
• Adjusted EBITDA profit rose to $13.9 million. Adjusted EBITDA profit was $13.9 million, compared with $6.4 million a year earlier and an adjusted EBITDA loss of ($1.0) million in the first quarter.
• Net loss narrowed. Net loss was ($9.4) million, against ($22.6) million a year earlier and ($138.9) million in the first quarter, which included a warrant revaluation loss.
• Full-year revenue range low end raised. Full-year revenue range is now $430 million to $441 million. Only the low end moved, from $425 million.
• NGA awards Global Monitoring Service. NGA awarded an $8 million OTA for deployment of Planet’s Global Monitoring Service, announced in August.
• German tender includes options. Planet was awarded a German government tender for dedicated capacity satellite services, with options and a maximum possible value over five years.
• Rwanda national programme signed. A new contract with the Rwanda Space Agency provides national high-resolution data and analytics across government ministries, agencies and public universities.
• Data-center monitoring renewal. A hyperscaler AI developer renewed a contract for global monitoring of data centers and semiconductor fabrication construction.
• New Mexico land office renewed. The New Mexico State Land Office signed a one-year renewal, in a partnership that began in 2019.
• Non-GAAP gross margin fell to 59%. Non-GAAP gross margin was 59%, against 61% a year earlier. The company cited higher costs in its gross margin comparison only through these figures.
• Non-GAAP operating income turned positive. Non-GAAP income from operations was $4.1 million, against a loss of ($3.3) million a year earlier. GAAP loss from operations was ($13.5) million.
• Stock-based compensation is recurring. Stock-based compensation was $17.1 million in the quarter, against $13.5 million a year earlier. The company describes it as a significant recurring expense.
• Remaining obligations and backlog below first quarter. Remaining performance obligations were $753.1 million and backlog $814.9 million, against $816 million and over $906 million reported for the first quarter.
• Recurring share of ACV at 98%. Recurring share of annual contract value was 98% at the end of the quarter, down from 99% at the end of the first quarter.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 57 held.

Every filing

The newest filings with the SEC of 171 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

544 funds held it at 30 Jun 2026: 253 added and 161 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Qualcomm Inc. (QCOM): revenue $44.1B, market value $193.4B
• Motorola Solutions, Inc. (MSI): revenue $12.2B, market value $80.0B
• Nokia Corporation (NOK): revenue $22.5B, market value $51.6B
• Telefonaktiebolaget LM Ericsson (ERIC): revenue $24.2B, market value $37.3B
• Ubiquiti Inc. (UI): revenue $3.3B, market value $36.5B
• Ondas Inc. (ONDS): revenue $174.1M, market value $3.6B
• Harmonic Inc. (HLIT): revenue –, market value $1.2B

What the company does

Planet Labs PBC designs, builds and operates Earth-imaging satellites and sells the imagery, data and analytics those satellites produce. The company says it has designed, built, launched and operated hundreds of satellites, and it describes over one hundred as currently operated. Its archive holds over 3,000 images on average for every point on Earth's landmass. Planet is a Delaware public benefit corporation, and it had approximately 1,000 employees across 29 countries as of 31 January 2026.

What it sells

Planet earns most of its revenue by licensing its data and analytics to customers over a cloud-based platform. Contracts are either fixed price subscriptions or usage-based. Payment is most commonly in advance, quarterly or annually. The company uses what it calls a "one-to-many" model, in which the same image can be sold and used for analytics an unlimited number of times. Planet says this differs from older providers that sell individual images to a single customer. At 31 January 2026, 98% of its annual contract value was recurring.

A second source of revenue is satellite services. Under these long-term, milestone-based contracts, Planet designs and manufactures satellites that the customer owns. It also provides mission systems engineering, launch procurement, ground station infrastructure, satellite operations and maintenance. Planet also sells dedicated image tasking capacity on satellites it owns or that customers own. A small amount of revenue comes from third-party imagery, professional services and customer support.

Planet receives licensing rights to certain imagery from those satellites for its own customers.

Its satellites and data

- Monitoring: SuperDove satellites aim to image the Earth every day at a resolution of up to 3.5 meters. - High-resolution tasking: SkySat and Pelican satellites can capture a specified location several times per day at up to 50 centimeters after processing. - Hyperspectral: Tanager captures over 400 spectral bands at 30 meters. It was developed with NASA's Jet Propulsion Laboratory and sponsored by Carbon Mapper, and Tanager-1 launched in August 2024.

Planet collects hundreds of millions of square kilometers of data every day. Its archive of Earth observation data dates back to 2009, and its daily scanning data dates back to 2017. Planet uses the archive to train its models. It also combines its imagery with public satellite data from NASA/USGS-Landsat and ESA/EU Copernicus to produce consistent time series.

Who buys from it

Planet serves commercial and government customers in agriculture, defense and intelligence, energy, forestry, finance, insurance and mapping, as well as federal, civil, state and local governments. It reported 897 customers at 31 January 2026. That count excludes users who only buy through the self-service Planet Insights Platform, which has integrated the former Sentinel Hub platform. Planet also says its direct sales team now focuses on large customer opportunities.

How it sells and builds

Planet sells directly and through hundreds of partners. These include solution providers, OEM platform partners, systems integrators and GIS software companies. Its sales team is mainly organised by customer industry, with some members focused on satellite services or AI-enabled solutions. Planet describes its go-to-market approach as "land-and-expand," meaning more users, more area coverage and more analytics over time.

The research and development team works on software and hardware, including spacecraft technology, automated satellite and ground station operations, and the platform itself. Technology partners include Carbon Mapper, NASA Jet Propulsion Laboratory, Telesat and SES under the NASA Communications Services Project, and Google, which is also a research and development services partner. Planet owns the copyrights to the imagery its satellites capture. These images number in the millions per day and are unregistered. Its intellectual property also includes patents, trademarks and trade secrets.

Who it competes with

Planet divides the satellite imagery and services market into incumbents and next generation players. It names Airbus Defense and Space, Vantor Holdings and Intuitive Machines as incumbents. It names BlackSky Technology, Satellogic and CG Satellite as next generation players. In data analytics, Planet competes with some analytics platforms, and it also partners with many of them, since they often rely on satellite imagery companies for data.

Regulation, seasonality and people

Planet says its industry is highly regulated because of the sensitive nature of satellite technology. It contracts with numerous United States government agencies and with other governments, so government contracting rules apply to it. Usage can vary with peak agricultural seasons, natural disasters and commodity prices. Of its employees, approximately 945 are full time, and none are represented by a labor union.

*From Planet Labs's annual report on Form 10-K for the year ended 31 January 2026. [The filing](https://www.sec.gov/Archives/edgar/data/1836833/000119312526119957/pl-20260131.htm)*

From the company's 10-K.