Planet Labs PBC (PL) Company Report

Planet Labs PBC issued 5,133,294 shares of Class A Common Stock and 584,052 shares of Class B Common Stock on January 21, 2026, as earnout shares.
This issuance was triggered because the closing price of Class A Common Stock equaled or exceeded $19.00 for 20 out of 30 trading days.
Following this event, the company reported 312,231,396 shares of Class A Common Stock and 22,909,742 shares of Class B Common Stock outstanding.
Additionally, 75% of the Sponsor Earnout Shares and Sponsor Earnout Warrants vested, as the Class A Common Stock price exceeded $15.00, $17.00, and $19.00 for 20 out of 30 trading days.

Jan 23, 2026, 4:20 PM

8-K

Planet Labs PBC reports issuance of earnout shares and vesting of sponsor securities

M&A

On January 13, 2026, Planet Labs PBC issued 10,286,172 shares of Class A Common Stock and 1,168,104 shares of Class B Common Stock as contingent consideration from its Merger Agreement.
This issuance occurred because the closing price of the Class A Common Stock equaled or exceeded $15.00 and $17.00 for 20 out of 30 trading days.
Following this event, Planet Labs PBC has 306,262,586 shares of Class A Common Stock and 22,325,690 shares of Class B Common Stock outstanding.
Additionally, 50% of the Sponsor Earnout Shares and 50% of the Sponsor Earnout Warrants held by dMY Sponsor IV, LLC vested due to the same stock price performance conditions.

Jan 15, 2026, 11:54 PM

8-K

Planet Secures New Sovereign Government Contract and Strengthens Financial Position

New Projects/Investments

Debt Issuance

Revenue Acceleration/Inflection

Planet announced a new low nine-figure deal with the Swedish Air Force for sovereign satellites, daily scan access, data services, and analytics, expected over five to seven years. This represents the third major sovereign government win, following deals with Germany and JSAT.
These sovereign deals contribute to Planet's financial strength by enabling access to larger government hardware budgets and aligning cash inflows with constellation building, which helped the company achieve free cash flow positive a year earlier than anticipated. The company's backlog grew close to 300% year over year as of the last quarter.
Planet successfully issued a convertible note, raising $460 million at a 50 basis points interest rate, with an effective strike price of $18.04, enhancing its balance sheet and providing strategic flexibility.
The company is developing next-generation constellations, including OWL for one-meter class imagery, and is involved in Google's Project Sun Catcher for data centers in space, indicating future technological advancements and market expansion.

Jan 14, 2026, 5:45 PM

Transcript

Planet Announces Major Swedish Air Force Deal and Strategic Growth Initiatives

New Projects/Investments

Debt Issuance

Revenue Acceleration/Inflection

Planet secured a new partnership with the Swedish Air Force, a low nine-figure deal expected over five to seven years, following previous major deals with Germany and JSAT in 2025.
The company achieved free cash flow positive a year earlier than anticipated and reported backlog growth close to 300% year-over-year as of the last quarter, largely due to its successful strategic focus on defense and intelligence.
Planet raised $460 million through a convertible note at a 50 basis points interest rate, with an effective strike price of $18.04, strengthening its balance sheet and competitive position.
Future growth initiatives include the development of the OWL constellation for one-meter class imagery and plans to double manufacturing capacity with a new German facility by the second half of this calendar year.

Jan 14, 2026, 5:45 PM

Transcript

Planet Secures Major Swedish Air Force Deal and Discusses Financial Strength, Strategic Focus, and Future Growth

New Projects/Investments

Debt Issuance

Revenue Acceleration/Inflection

Planet announced a low nine-figure deal with the Swedish Air Force for sovereign satellites, data services, and analytics, expected over five to seven years, marking its third major sovereign government win.
These sovereign deals have significantly contributed to Planet achieving free cash flow positive a year earlier than anticipated and growing its backlog by close to 300% year-over-year as of the last quarter.
The company strengthened its balance sheet by raising $460 million through a convertible debt offering at a 50 basis points interest rate, providing strategic flexibility.
Planet is developing next-generation constellations, including Owl for one-meter class imagery and a hyperspectral fleet, and aims to double its manufacturing capacity with a new German facility by the second half of calendar year 2026.

Jan 14, 2026, 5:45 PM

Transcript

Planet Labs PBC signs 9-figure deal with Sweden

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

Planet Labs PBC announced a multi-year low 9-figure agreement with the Swedish Armed Forces to provide satellites, space-based data, and awareness solutions.
This agreement represents Planet's third major Satellite Services contract in 12 months, bringing the total across these three contracts to over half a billion dollars.
The company expects to recognize commercial payments from this agreement as revenue over several years, and it does not change the previously issued financial guidance for the quarter and fiscal year ending January 31, 2026.

Jan 12, 2026, 2:17 PM

8-K

Planet Labs PBC signs multi-year satellite services agreement with Sweden

New Projects/Investments

Revenue Acceleration/Inflection

Planet Labs PBC has secured a multi-year low 9-figure agreement with the Swedish Armed Forces for satellites, space-based data, and awareness solutions.
This contract marks Planet's third major Satellite Services deal in 12 months, contributing to over half a billion dollars across these three contracts in the past year.
The agreement provides Sweden with ownership of Planet's satellites and access to high-resolution data, offering a cost-effective and rapid pathway to advanced space-based capabilities.
Planet expects to recognize the commercial payments as revenue over several years, and this announcement does not change the previously issued fourth quarter financial guidance.

Jan 12, 2026, 2:15 PM

Press Release

Planet Labs Reports Strong Q3 Earnings and Raises Guidance

Earnings

Guidance Update

M&A

Planet Labs reported strong third-quarter results with revenue reaching $81.3 million, a 32.6% year-over-year increase, surpassing market expectations.
The company provided optimistic fourth-quarter revenue guidance between $76 million and $80 million and projects full-year 2026 revenue around $297 million to $301 million.
Despite negative operating margins, there was an improvement from -36.9% to -22.6%, and full-year EBITDA guidance is $7 million at the midpoint, above analyst estimates.
Free cash flow for the third quarter was positive at $911,000, a significant improvement from a negative $3.56 million in the same quarter last year, and the company maintains a strong balance sheet with a current ratio of 1.75.
Strategic growth was highlighted by new contracts with NGA and NATO, and the acquisition of AI company Bedrock Research.

Dec 10, 2025, 10:40 PM

Bloomberg

Planet Labs Reports Strong Q3 2026 Results, Raises FY26 Guidance, and Announces Strategic Initiatives

Earnings

Guidance Update

New Projects/Investments

Planet Labs reported Q3 2026 revenue of $81.3 million, representing approximately 33% year-over-year growth, with a Non-GAAP gross margin of 60%. The company achieved Adjusted EBITDA profit of $5.6 million, marking its fourth sequential quarter of profitability, and was Free Cash Flow positive for the third consecutive quarter. Backlog increased 216% year-over-year to $734.5 million.
For fiscal year 2026, Planet Labs updated its revenue guidance to $297-$301 million and expects Adjusted EBITDA profit of $6-$8 million, achieving annual Adjusted EBITDA profitability. Q4 2026 revenue is projected to be between $76-$80 million, with an expected Adjusted EBITDA loss of $7-$5 million due to investments.
The company secured significant government contracts, including a $12.8 million award from the NGA under the LUNO B program, a $13.2 million renewal from the NRO, and a $7.5 million renewal from the US Navy. Planet Labs also launched two new high-resolution Pelican satellites and 36 SuperDoves, announced OWL (a next-generation monitoring fleet), and initiated Project SunCatcher with Google for AI in space. Additionally, it acquired Bedrock Research, an AI solutions company.

Dec 10, 2025, 10:00 PM

Transcript

Planet Labs Reports Strong Q3 2026 Results and Raises FY26 Guidance

Earnings

Guidance Update

New Projects/Investments

Planet Labs reported Q3 2026 revenue of $81.3 million, representing approximately 33% year-over-year growth, with a Non-GAAP gross margin of 60% and Adjusted EBITDA profit of $5.6 million, marking its fourth consecutive quarter of Adjusted EBITDA profitability. The company also achieved positive Free Cash Flow for the third quarter in a row and ended the quarter with a backlog of $734.5 million, an increase of 216% year-over-year.
The company updated its full fiscal year 2026 revenue guidance to between $297 million and $301 million and expects Adjusted EBITDA profit for FY26 to be between $6 million and $8 million, anticipating annual Adjusted EBITDA profitability for the first time.
Key strategic developments include securing a $12.8 million prime contract with the NGA, a $13.2 million renewal with the NRO, and a $13.5 million task order from NASA. Planet Labs also launched two high-resolution Pelican satellites and 36 SuperDoves, announced plans to open a new Berlin manufacturing facility to double capacity, and acquired AI solutions company Bedrock Research.