Planet Labs PBC (PL) Company Report

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.

11 hours ago

Press Release

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.

12 hours ago

8-K

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.

Dec 10, 2025, 10:00 PM

Transcript

Planet Reports Record Q3 2026 Revenue and Strong Backlog Growth

Earnings

Guidance Update

New Projects/Investments

Planet reported record revenue of $81.3 million in Q3 2026, marking 33% year-over-year growth, with a Non-GAAP Gross Margin of 60% and Adjusted EBITDA of $5.6 million.
The company's backlog demonstrated significant growth, increasing 216% year-over-year to $734 million by the end of Q3 2026.
Key contract wins and renewals during Q3 2026 included a $12.8 million prime contractor award from the National Geospatial-Intelligence Agency, a $13.2 million baseline renewal from the National Reconnaissance Office, and a $13.5 million task order from NASA.
For Q4 2026, Planet provided a revenue outlook of $76 million to $80 million, and an FY 2026 revenue outlook of $297 million to $301 million.

Dec 10, 2025, 10:00 PM

Presentation

Planet Labs Reports Strong Q3 2026 Financial Results and Strategic Progress

Earnings

New Projects/Investments

Debt Issuance

Planet Labs reported Q3 2026 revenue of $81.3 million, an approximate 33% year-over-year growth, and achieved $5.6 million in Adjusted EBITDA profit, marking its fourth consecutive quarter of profitability.
The company's backlog increased 216% year-over-year to $734.5 million, and it ended Q3 2026 with approximately $677 million in cash, cash equivalents, and short-term investments, largely due to a $460 million convertible debt raise.
For fiscal year 2026, Planet Labs updated its guidance, expecting revenue between $297 million and $301 million and Adjusted EBITDA profit between $6 million and $8 million.
Strategic developments include the acquisition of AI solutions company Bedrock Research, the launch of 38 new satellites, and the announcement of new initiatives like Owl and Project Suncatcher with Google.

Dec 10, 2025, 10:00 PM

Transcript

Planet Labs PBC Reports Q3 Fiscal Year 2026 Financial Results and Provides Outlook

Earnings

Guidance Update

M&A

Planet Labs PBC reported record revenue of $81.3 million for the third quarter of fiscal year 2026, representing a 33% year-over-year increase.
The company achieved its fourth consecutive quarter of adjusted EBITDA profitability with $5.6 million and its third consecutive quarter of positive free cash flow.
Remaining Performance Obligations (RPOs) increased 361% year-over-year to $672 million, and backlog grew 216% year-over-year to $734 million.
Planet ended the quarter with $677.3 million in cash, cash equivalents, and short-term investments after raising $460 million of convertible debt.
For the fourth quarter of fiscal year 2026, Planet expects revenue to be in the range of $76 million to $80 million. The company also announced the acquisition of Bedrock Research, an AI-enabled solutions company.

Dec 10, 2025, 9:05 PM

8-K

Planet Labs PBC Reports Strong Q3 FY2026 Financial Results and Business Momentum

Earnings

Guidance Update

M&A

Planet Labs PBC reported record revenue of $81.3 million for the third quarter of fiscal year 2026, representing a 33% year-over-year increase.
The company achieved adjusted EBITDA profit of $5.6 million for the quarter, marking its fourth consecutive quarter of adjusted EBITDA profitability.
Cash, cash equivalents, and short-term investments increased 180% year-over-year to $677.3 million at the end of the quarter, following a $460 million convertible debt raise.
Key business developments include the acquisition of Bedrock Research to accelerate AI-enabled solutions and the successful launch of 2 high-resolution Pelican and 36 SuperDove satellites.
For the full fiscal year 2026, Planet expects revenue in the range of $297 million to $301 million and adjusted EBITDA profit between $6 million and $8 million.

Dec 10, 2025, 9:05 PM

Press Release

Planet Labs PBC Renews 8-Figure Defense Contract

Revenue Acceleration/Inflection

New Projects/Investments

Planet Labs PBC (PL) announced an 8-figure contract renewal with a longstanding international defense and intelligence customer.
The renewed agreement provides the customer with access to Planet’s Pelican and SkySat assured tasking capabilities for critical monitoring and intelligence gathering.
This contract reinforces Planet's continued growth in the defense sector, following earlier announcements with entities such as the German government and the U.S. Department of Defense.

Nov 5, 2025, 2:03 PM

Press Release