Cleo Palmer-Poroner - Director of Investor Relations
William Marshall - Co-Founder, CEO & Chairman of the Board
Ashley Whitfield Johnson - President & CFO
Conference Call Participants
Xin Yu - Deutsche Bank AG, Research Division
John Godyn - Citigroup Inc., Research Division
Mike Latimore - Northland Capital Markets, Research Division
Trevor Walsh - Citizens JMP Securities, LLC, Research Division
Ryan Koontz - Needham & Company, LLC, Research Division
Michael Filatov - Joh. Berenberg, Gossler & Co. KG, Research Division
Daniel Hibshman - Craig-Hallum Capital Group LLC, Research Division
Noah Poponak - Goldman Sachs Group, Inc., Research Division
Kyle Benvenuto - Morgan Stanley, Research Division
Gregory Pendy - Clear Street LLC., Research Division
Gabriel Flouret - Cantor Fitzgerald & Co., Research Division
Christopher Quilty - Quilty Space Inc., Research Division
Presentation
Operator
Thank you for joining us, and welcome to the Planet Labs PBC Second Quarter of Fiscal Year 2027 Earnings Call. [Operator Instructions]
I will now hand the conference over to Cleo Palmer-Poroner, Director of Investor Relations.
Cleo Palmer-Poroner
Director of Investor Relations
Thanks, operator, and hello, everyone. I'm joined by Will Marshall and Ashley Johnson, who will provide a recap of our results and discuss our current outlook. We encourage everyone to please reference the earnings press release and earnings update presentation for today's call, which are available on our Investor Relations website.
Before we begin, we'd like to remind everyone that we will make forward-looking statements related to future events or our financial outlook. Any forward-looking statements are based on management's current outlook, plans, estimates, expectations, and projections. The inclusion of such forward-looking information should not be regarded as a representation by Planet that future plans, estimates, or expectations will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions as detailed in our SEC filings, which can be found
Planet Labs oznámila rekordní tržby 116,05 milionu USD za 2. čtvrtletí, což překonalo odhad trhu. Ztráta 3 centy na akcii ale byla vyšší, než se očekávalo.
Planet Labs PBC (NYSE:PATH) posted its fiscal 2027 second-quarter results after Thursday’s closing bell, beating analysts’ revenue expectations. Here’s a look at the details inside the report.
PL stock is moving. Watch the price action here. Planet Labs reported quarterly losses of three cents per share, which missed the consensus estimate for losses of two cents, per Benzinga Pro data.
Quarterly revenue came in at $116.05 million, which beat the Street estimate of $104.12 million by 11.46%.
Planet Labs reported the following quarterly highlights:
Second quarter revenue increased 58% year-over-year to a record $116.1 million. Percent of recurring annual contract value (ACV) was 98% as of the end of the second quarter. Second quarter non-GAAP gross margin was 59%, compared to 61% in the second quarter of fiscal year 2026. Second quarter net loss was ($9.4) million, compared to ($22.6) million in the second quarter of fiscal year 2026. “Planet delivered an outstanding second quarter, with record revenue of $116.1 million, representing 58% year-over-year growth and our fourth consecutive quarter of meeting or exceeding the Rule of 40,” said Will Marshall, Planet’s CEO.
Read Next
PL Stock Price: According to data from Benzinga Pro, Planet Labs stock was up 6.32% to $19.51 in Thursday’s extended trading.
Photo: Shutterstock
Trending
Market News and Data brought to you by Benzinga APIs
A new European defense contract and a fresh analyst Buy rating landed for Planet Labs on Thursday, yet the stock cratered anyway while the broader market rallied. Something specific to this sector is spooking investors ahead of a closely watched…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Space and satellite names are pulling back Thursday morning even as major U.S. benchmarks climb, with a mix of company-specific catalysts failing to stem selling across the commercial space complex. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.6% to $769.76, tracking the S&P 500, so the risk-off in space is idiosyncratic to the sector rather than a reflection of the wider market.
Planet Labs PBC (NYSE:PL) stock is down 8% to $18.48, even after the company announced a new European defense contract and picked up a fresh Buy initiation from Berenberg. Meanwhile, Intuitive Machines (NASDAQ:LUNR) stock is falling 2% to $14.52 as risk comes out of the space complex. AST SpaceMobile (NASDAQ:ASTS) stock is sliding 1% to $61.78, sitting out today’s broad-market advance.
Contract and Buy Rating Fail to Lift Planet Labs Planet Labs disclosed a seven-figure, one-year agreement with a European defense and intelligence customer covering Planet Mosaics imagery and dedicated professional services support, according to Planet Labs PBC. Jon Powers, its Vice President of Global Defense and Intelligence, stated, “Defense and intelligence organizations around the globe rely on Planet’s high-frequency, scalable satellite solutions to address complex and fast-evolving security environments.” That agreement extends Planet Labs’s run of government wins from earlier this year, including deals with the National Geospatial-Intelligence Agency, the Swedish Armed Forces and the Defense Innovation Unit.
Scale is the problem for bulls. A seven-figure deal is small next to the 8-figure and 9-figure awards Planet Labs has booked earlier this year, so it doesn’t materially shift the revenue base or full-year guidance math.
The sell-side signal is more constructive. Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) was named alongside Planet Labs and AST SpaceMobile in a Berenberg initiation, with analyst Michael Filatov launching coverage of all three at Buy and setting a $25 price target on Planet Labs stock, citing its daily whole-Earth imaging and multi-year imagery archive as a moat rivals would struggle to reproduce. Yet, that initiation isn’t drawing buyers in Planet Labs stock during this session.
Sector Risk Comes Off Ahead of Results Positioning offers the cleaner read. Planet Labs is scheduled to report quarterly results after the close, though the company hasn’t confirmed the date, and short-dated options activity has tilted defensive into the release. That’s a familiar setup for a name that’s run hard.
The year-to-date figure sharpens the picture. Planet Labs stock was up 1% year to date through Wednesday’s close despite a 201% advance over the past year, meaning the entire twelve-month gain predates 2026, and current holders have sat through eight quiet months.
The commercial space peers show the same tone. Intuitive Machines stock was down 8% year to date through the prior close, and AST SpaceMobile stock was down 14% year to date over the same span, extending an underperforming stretch even as the S&P 500 climbs. The yield on the 10-year Treasury note is down 4 basis points to 4.74%, a rate move typically supportive of long-duration growth names.
What to Watch The immediate event is Planet Labs’ scheduled results release. A quarterly print in line with the FY2027 revenue and adjusted EBITDA guide could unwind the day’s de-risking. Any softness in backlog conversion or the current-quarter revenue outlook may confirm the caution the session is pricing in.
Peer-group price action matters, too. If Intuitive Machines and AST SpaceMobile stabilize while Planet Labs continues to lag, the move looks stock-specific rather than sector-wide. Should the whole space complex keep sliding, it points to broader rotation regardless of tonight’s numbers.
Investors sizing their exposure into the release should calibrate their positions carefully given the volatility already visible in the session and in short-dated options activity. There’s no shame in waiting for the report itself; the setup here is asymmetric only for holders willing to stomach a gap either way.
Contact [email protected] for any questions or corrections.
Planet Labs před výsledky obchoduje 27,3 % pod 200denním klouzavým průměrem. Trh sleduje i výhled tržeb na fiskální rok 2027 v pásmu 425 až 441 milionů USD.
Planet Labs PBC (NYSE:PL) shares are in the spotlight, with earnings on deck, key growth metrics in focus and a technical setup showing the stock trading below every major moving average.
Earnings Preview & HistoryPlanet Labs is scheduled to report second-quarter fiscal-year 2027 earnings on September 3 after market close. Analysts estimate a loss of 2 cents per share along with revenue of $104.12 million. For the prior quarter, Planet Labs reported EPS of negative 3 cents, beating the consensus estimate of negative 4 cents by 25%. The company also posted revenue of $94.15 million, beating the consensus estimate of $89.85 million by 4.78%.
Backlog, Defense Growth, FY27 Guidance in FocusInvestors will be closely tracking backlog and remaining performance obligations, which stood at approximately $906 million and $816 million, respectively, at the end of the first quarter, up more than 70% year-over-year, as a key indicator of future revenue visibility. Defense and intelligence segment growth will also be in focus, given it grew more than 65% year-over-year last quarter and has become the company’s primary growth driver, alongside any updates on international contract wins and the pace of Pelican satellite deployments.
Commentary on full-year fiscal 2027 guidance, currently set at $425 million to $441 million in revenue with adjusted EBITDA between breakeven and $10 million, along with progress toward sustained positive free cash flow, should offer additional signals on whether Planet Labs can justify its valuation heading into the back half of the year.
Planet Labs Trades Below Every Major Moving AverageFrom a trend perspective, PL is still in a defensive posture: it’s trading 13.8% below its 20-day SMA, 19.6% below its 50-day SMA, 37.7% below its 100-day SMA, and 27.3% below its 200-day SMA. That "below all the key averages" setup typically means rallies can run into supply faster than they find follow-through.
The moving-average structure also leans bearish, with the 20-day SMA below the 50-day SMA and a death cross in August (the 50-day SMA below the 200-day SMA). In longer-term trend work, that combination often signals the stock needs time (and multiple closes back above key averages) before the trend picture improves.
MACD is the cleaner momentum lens right now: it’s below its signal line and the histogram is negative, which points to fading upside pressure versus the prior upswing. In plain terms, when MACD sits below its signal line, it usually means momentum is cooling unless buyers can push price back into a stronger uptrend.
Near-term levels are tight, which can make Tuesday’s open important if volatility picks up with the futures tone:
Key Resistance: $21.00 — a round-number area that can cap rebounds before the stock can work back toward its short-term moving averages Key Support: $19.50 — a nearby floor traders may defend, sitting right around the current trading area Read Next
Planet Labs Shares DropPL Price Action: At the time of publication, Planet Labs shares are trading 1.91% lower at $19.47, according to data from Benzinga Pro.
Image via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
CFO společnosti Planet Labs Ashley Johnson prodala přibližně 110 000 akcií za 2,4 milionu USD v rámci předem nastaveného plánu 10b5-1. Po transakci jí zůstává zhruba 1,1 milionu přímých a 561 000 nepřímých akcií.
Ashley F. Johnson, President and Chief Financial Officer of Planet Labs PBC (PL +1.29%), sold ~110,000 shares of Class A Common Stock on July 23, 2026, for a total value of $2.4 million, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$2.4 millionShares sold~110,000Shares sold (directly held)75,035Shares sold (indirectly held)34,993Post-transaction shares (directly held)~1.1 millionPost-transaction shares (indirectly held)~561,000Post-transaction value$37.87 millionInsider ownership0.51%Transaction value based on SEC Form 4 weighted average sale price ($22.08); post-transaction value based on July 23, 2026 market close ($22.36).
Key questionsWhat is the context for this transaction?
The sale was conducted as part of routine portfolio management under a Rule 10b5-1 trading plan established on April 23, 2026. This regulatory framework allows insiders to schedule stock sales in advance to avoid concerns regarding the possession of material non-public information.How has the company performed financially leading up to this trade?
Planet Labs reported a 226% one-year return as of the July 23, 2026 transaction date. During the most recent trailing-twelve-month period, the company generated $335.6 million in revenue while recording a net loss of $373.1 million.What is the status of the executive's remaining equity position?
Following this transaction, Johnson retains a significant interest in the company, including ~1.1 million shares held directly and ~561,000 shares held indirectly through a revocable trust. The directly held position includes 1,132,122 restricted stock units (RSUs) that are scheduled to vest in quarterly installments through December.Company OverviewMetricValueShare Price (as of market close 2026-07-23)$22.36Market Capitalization$6.9 billionRevenue (TTM)$335.6 millionNet Income (TTM)-$373.1 millionCompany SnapshotPlanet Labs designs, deploys, and operates extensive satellite constellations that deliver frequent, high-resolution geospatial imagery and data to customers worldwide through a proprietary cloud-native platform.The company generates revenue through subscription-based access to its satellite imagery and geospatial analytics platform, leveraging its proprietary technology stack to process and integrate temporal data for advanced analytical applications.Planet Labs serves government agencies, commercial enterprises, and institutional customers requiring real-time geospatial intelligence for applications spanning agriculture, urban planning, disaster response, and defense and security operations.Planet Labs PBC operates as a leading provider of frequent, global geospatial data through its constellation of Earth-imaging satellites. The company's differentiated competitive position derives from its extensive satellite network, proprietary cloud-native processing infrastructure, and ability to deliver sub-meter resolution imagery at unprecedented temporal frequency.
With a market capitalization of $6.9 billion, Planet Labs is scaling its commercial and government customer base while advancing its technological capabilities in satellite operations and geospatial analytics.
What this transaction means for investorsThe July 23 sale of Planet Labs stock by CFO Ashley Johnson for a weighted average price of $22.08 occurred during a time when shares were on the decline, having fallen substantially from a 52-week high of $51.76 reached in May. The drop was due in part to the company’s plan to sell up to $1.5 billion Class A shares, a large equity offering that prompted dilution concerns among shareholders.
The CFO’s disposition combined with other insider sales also added to a Planet Labs stock sell-off. That said, her July 23 transaction does not appear to raise red flags for investors, given it was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan.
Moreover, Johnson retained more than one million directly-held shares post-transaction, and over half a million indirectly-held stock in a trust. This demonstrates she maintains a sizable equity position, ensuring her continued alignment with shareholder interests.
Robert Izquierdo has positions in Planet Labs PBC. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy.
Planet Labs pokračuje v prudkém poklesu a akcie jsou na nejnižší úrovni od 19. března. Firma přitom v prvním čtvrtletí zvýšila tržby o 42 % na 94,2 milionu USD.
Planet Labs stock continued its strong downward trend last week, reaching its lowest level since March 19. PL has dropped by 50% from its highest point this year, with the market capitalization falling from over $18.40 billion in May to the current $9.28 billion, and technicals suggest that it has more downside to go.
The ongoing PL stock retreat has coincided with that of other companies in the space industry. SpaceX stock has plunged to a record low, while Rocket Lab fell by 47% from its highest point this year. The Procure Space ETF (UFO) dropped from the year-to-date high of $68.3 to $46.
PL stock has plunged in the past few weeks, even after the company published strong financial results. Its recent results showed that its revenue and backlog continued rising in the last quarter.
Planet Labs revenue jumped by 42% in the first quarter to $94.2 million, with the percentage of recurring annual contract value (ACV) soaring to 99%.
The company’s gross margin softened a bit to 54%, with its net loss soaring to $138.9 million from the $12.6 million it lost a year earlier. This loss jumped because of a $106 million revaluation loss from a change in fair value of warrant liabilities related to stock appreciation.
Planet Labs expects the company’s growth will continue in the foreseeable future, helped by the rising demand from government agencies and corporations. The average estimate among analysts is that its revenue jumped by 42% in the second quarter to $104 million, followed by 40% in the second quarter.
Planet Labs annual revenue is expected to continue rising by over 40% to $436 million, followed by $570 million next year. This growth will likely be because of the Pelican-11 satellite, which is designed to validate new technologies and capabilities in a bid to boost the quality of images.
Most notably, analysts expect the company will become profitable in the coming years. The average estimate is that the company will breakeven in terms of EPS as soon as next year.
Planet Labs stock has dropped because of the rising fears of dilution after the company entered an equity distribution plan to sell up to $1.5 billion of its Class A common stock from time to time. This likely explains why the company has a short interest of 12.4%.
Planet Labs stock chart | Source: TradingView
The daily chart shows that the Planet Labs stock has been in a freefall in the past few weeks, moving from a high of $51.60 in May to the current $26.
It is attempting to drop below the key support level of $26.25, a move that will invalidate the forming of the double-bottom pattern.
It is attempting to move below the 50-day and 100-day Exponential Moving Averages (EMA), which are about to cross each other, forming a mini death cross.
The stock will likely continue falling, potentially to the key support level at $20, down by 23% from the current level. It will likely bounce back later this year as investors rotate back to space companies.
READ MORE: Wedbush makes a strong case for buying the dip in Planet Labs stock
Akcie Planet Labs klesly o 37 % z historického maxima za něco málo přes měsíc po slabším výhledu zisku a oznámení emise akcií až za 1,5 miliardy USD. Firma zároveň snížila marži z 56 % v prvním čtvrtletí na 52 % až 54 % za celý rok.
It has been an exciting year for space stocks. Coming into June, Planet Labs (PL 0.60%) stock had surged to over $51 per share and was up an eye-opening 162% year to date. However, the stock recently pulled back 37% from its all-time high just over one month ago.
Planet Labs has been riding high on the wave of strong top-line growth and a surge in government spending on space and defense. However, the company's recent earnings forecast and equity raise have taken the air out of the balloon. Here's what investors need to know.
Today's Change
(
-0.60
%) $
-0.19
Current Price
$
31.42
Planet Labs' stock has gone on a tear over the last year Planet Labs operates a massive constellation of small satellites that capture daily high-resolution imagery of the planet. The company provides geospatial imagery, data archives, and analytics to intelligence, agricultural, and commercial customers for applications such as national security, crop yields, and deforestation monitoring.
The stock has soared over the last year, surging 432% as investors flock to booming space stocks. The company showcased solid top-line growth while teaming up with Nvidia to incorporate its GPUs into its satellites and deliver real-time AI insights to customers like never before. It is also riding a wave of contract wins, including awards with the U.S. National Geospatial-Intelligence Agency and the Swedish Armed Forces, and selection as a prime contractor under the Missile Defense Agency (MDA) SHIELD framework.
Image source: Getty Images.
Planet Labs stock surged following its previous three earnings reports, but its first-quarter results (for the period ending April 30) sent the stock tumbling. Part of its decline was driven by margin compression and a high forecast for capital expenditure for the year. During the earnings call, Planet Labs guided its margin down from 56% in the first quarter to between 52% and 54% for the full year, with heavy capital investment totaling between $80 million and $95 million this year.
The biggest driver of the stock's decline was its $1.5 billion at-the-market equity offering, which was also announced during its earnings call. Planet Labs entered into an agreement to sell up to $1.5 billion of its Class A common stock through at-the-market offerings, meaning it could sell shares in smaller portions over time. The proceeds would be used to expand manufacturing capacity and further build out its Earth-imaging infrastructure.
Should you buy the dip in Planet Labs? Planet Labs is growing nicely and expanding its reach with its growing satellite platform. However, the equity offering highlights the risks of investing in high-growth, early-stage companies, and the $1.5 billion raise is a massive amount for a company with a market capitalization of $11.7 billion.
The company is spending big in hopes of a larger payoff long-term, and analysts project its revenue could grow by 34% compounded over the next three years. That said, Planet Labs stock is far from cheap, priced at 31.2 times sales, and analysts covering the company don't foresee profitability until 2028 at the earliest.
Investors must balance growth with spending and recognize that Planet Labs is still an early-stage, rapidly growing company. If you do buy the stock, make sure it's part of a diversified portfolio and size your position accordingly.
Key Takeaways PL shares have lost 11.9% in three months, lagging the industry, sector and the Zacks S&P 500 composite.PL trades at 22.76X price-to-sales, above the industry average of 3.15 and the three-year median of 3.8.Planet Labs' backlog rose 72% to over $906M, but losses are expected to continue through fiscal 2027. Shares of Planet Labs (PL - Free Report) have lost 11.9% in the past three months, underperforming the industry, its sector, as well as the Zacks S&P 500 composite. Planet Labs is a leading provider of Earth-imaging data and geospatial analytics, operating the largest fleet of Earth-observation satellites globally.
PL vs. Industry, Sector, S&P 500 in 3 Months
Image Source: Zacks Investment Research
Shares of Rocket Lab (RKLB - Free Report) , its peer, have gained 47.7% in the past three months, while those of BlackSky Technology (BKSY - Free Report) , another peer, have lost 6.7% in the same time frame.
PL Shares Are ExpensiveThe stock is overvalued compared with its industry. It is currently trading at a price-to-sales multiple of 22.76, higher than the industry average of 3.15 and the median of 3.8 over three years.
Image Source: Zacks Investment Research
PL is relatively cheap compared to RKLB but expensive compared to BKSY.
The Case for PL StockPlanet Labs generates most of its revenues through a combination of fixed-price subscription agreements and usage-based contracts, delivering satellite imagery and geospatial data analytics to governments and large enterprises via its cloud-based platform. Revenue growth has been driven by an expanding subscription base, rising government demand and a strategic emphasis on higher-value satellite services and advanced analytics.
The company ended the first quarter of fiscal 2027 with backlog increasing 72% year over year to more than $906 million, providing strong revenue visibility and supporting expectations for faster growth. Management projects fiscal 2027 revenues of $425-$441 million.
Planet Labs has increasingly prioritized large government and defense contracts, which offer greater revenue stability and long-term visibility. Although this business remains its primary growth driver, management continues to view the commercial market as a significant long-term opportunity. Ongoing enhancements to its platform are expected to broaden commercial adoption. In particular, AI-powered analytics, initially developed for government customers, are creating new commercial opportunities across supply chain monitoring, surveillance, operational optimization, insurance risk assessment, financial analysis, energy management and agriculture.
Despite these growth prospects, Planet Labs remains unprofitable, and meaningful profitability is unlikely in the near term. Continued investments in satellite infrastructure, elevated research and development spending, and high operating expenses continue to put pressure on margins. After five consecutive years of losses, the company is expected to remain in the red through fiscal 2027, while returns on equity and invested capital remain well below industry averages. For fiscal 2027, management expects a non-GAAP gross margin of 52-54% and adjusted EBITDA ranging from breakeven to a profit of $10 million, indicating that sustained profitability is still some distance away.
Planet Labs Growth ProjectionsThe Zacks Consensus Estimate for fiscal 2027 revenues indicates a 41.9% year-over-year increase, while that for earnings suggests a 75% year-over-year decline. The consensus estimate for fiscal 2028 revenues indicates a 32.2% year-over-year increase, while that for earnings suggests an increase of 138.1% year over year.
The consensus estimate for fiscal 2027 and 2028 earnings has moved south in the past 30 days.
Image Source: Zacks Investment Research
The consensus estimate for 2026 earnings of RKLB has moved south in the past 30 days, while that for BKSY has witnessed no movement in the same time frame.
Parting Thoughts on PL SharesPlanet Labs, a data-driven company focused on Earth-observation imagery and analytics, is poised to grow, given the rising global demand for commercial satellites.
However, current factors warrant caution. With the stock trading at a premium, returns on capital comparing unfavorably with the industry, looming near-term earnings pressure, pessimistic analyst sentiment and a VGM Score of F, it is better to avoid this Zacks Rank #4 (Sell) stock for now.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Planet Labs v 1. čtvrtletí zvýšila tržby na rekordních 94,15 mil. USD a hrubá marže podle GAAP dosáhla 54 %. Backlog přesáhl 906 mil. USD, což zvyšuje viditelnost budoucích tržeb.
SpaceX is dominating financial headlines with a record-breaking IPO, a rumored $2 trillion valuation, and a Starlink/Starship hype loop that has retirement-focused investors scrambling for pre-IPO access. The more compelling opportunity sits in plain sight on the public market.
The SpaceX trade fails the retirement portfolio test on arithmetic alone. Retail buyers cannot touch the shares directly, secondary-market vehicles charge punitive premiums, and the offering is priced at a dangerous, highly speculative revenue multiple that leaves retail buyers with zero margin of safety ahead of its August lock-up expiration. Insiders exit, retail holds the bag. That movie has run before.
The better ticker is already public, already profitable, and already selling the data a launch business cannot monetize. Planet Labs (NYSE:PL) runs the picks-and-shovels layer of the space economy: an Earth-observation satellite fleet plus an AI-enabled geospatial data subscription business.
1. A high-margin subscription model that funds itself Planet Labs is a software business wrapped inside a satellite operator. In Q1 FY2027, revenue hit a record $94.15 million, up 42% YoY, with GAAP gross margin at 54% and non-GAAP gross margin at 56%. About 99% of annual contract value is recurring. Non-GAAP EPS came in at -$0.03, with the reported GAAP loss distorted by a $106.47 million non-cash warrant revaluation that is now behind the company.
2. A backlog that reads like a defense contractor Forward visibility is the number retirement investors should care about. Planet exited the quarter with backlog above $906 million, up 72% YoY, and remaining performance obligations of $816.01 million, up 81% YoY. The customer roster includes a €240 million German government deal, Sweden’s first sovereign reconnaissance satellite, NATO expansions, NGA, NRO, and the U.S. Navy. Signed contracts backed by government budgets carry different risk than IPO speculation.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Planet Labs didn't make the cut. Grab the names FREE today.
3. AI optionality built into the data layer CEO Will Marshall summarized the strategy in the most recent quarter: “By investing in AI, we are positioning Planet at the forefront of the industry and pioneering ways to make planetary-scale insights available and actionable to more users than ever before.” The company has an R&D partnership with Google on Project Suncatcher data centers in space, a natural-language query beta, SuperRes AI upscaling, and Pelican satellites moving toward 30cm-class imagery. Every rocket the launch industry puts in orbit ultimately feeds a data layer this business already owns.
The profitability inflection closes the case. FY2026 delivered $52.87 million in free cash flow and $15.49 million of adjusted EBITDA profit, the first full year of both. FY2027 guidance calls for $425 million to $441 million in revenue and up to $10 million of adjusted EBITDA profit.
The obvious pushback is BlackSky Technology (NYSE:BKSY), the smaller pure-play competitor. BlackSky’s Q1 2026 revenue was $20.77 million, down 29.7% YoY, missing expectations by 23.8%, with EPS of -$0.82 against a consensus of -$0.40. Roughly one-tenth Planet Labs’ $10.64 billion market cap, negative operating cash flow at -$2.36 million, and revenue moving the wrong direction.
For investors weighing the SpaceX pre-IPO scramble, Planet Labs belongs on the research short list.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Planet Labs didn't make the cut. Grab the names FREE today.
Planet Labs se mění v AI geoinformační platformu s rostoucí expozicí vůči obraně. Tržby divize Defense & Intelligence vzrostly ve fiskálním 1. čtvrtletí 2027 o více než 65 %.
Key Takeaways Planet Labs is evolving into an AI-driven geospatial intelligence platform with defense exposure.AI tools, including Claude AI, help Planet Labs turn satellite imagery into actionable insights.Defense & Intelligence revenues rose more than 65%, driven by data subscriptions and satellite services. Planet Labs (PL - Free Report) is evolving from a traditional satellite-imagery company into an AI-driven geospatial intelligence platform with growing exposure to the global defense market. Leveraging one of the world’s largest Earth-observation datasets, the company combines satellite imagery, artificial intelligence, machine learning and advanced analytics to deliver higher-value intelligence solutions for governments and enterprises.
The company operates the largest fleet of Earth-observation satellites globally, generating a continuous stream of real-time geospatial data. This extensive dataset creates a competitive advantage, as AI models improve with access to large volumes of frequently updated information. To enhance its capabilities, Planet Labs has integrated AI into its platform, including a partnership with Anthropic that incorporates Claude AI to help customers transform raw satellite imagery into actionable insights more efficiently.
Planet Labs is also expanding its role in defense and intelligence. Recent contract wins include a €240 million agreement supported by Germany, expanded work with the U.S. Department of Defense, an eight-figure contract extension with the U.S. National Geospatial-Intelligence Agency, a NATO surveillance agreement and maritime monitoring contracts with the U.S. Navy. These awards underscore the growing importance of the company’s technology in national security, surveillance and situational awareness.
Demand within the Defense & Intelligence segment remains strong, with revenues increasing more than 65% in fiscal first quarter 2027, fueled by growth in data subscriptions and satellite services. As governments adopt AI-enabled monitoring and intelligence systems, PL is increasingly transitioning toward a software-and-services model characterized by recurring revenues, improving margins and greater long-term strategic value.
What About Its Peers?Rocket Lab (RKLB - Free Report) benefits from diversified government and commercial demand. Rocket Lab has secured contracts across defense, NASA, and private space markets. Rocket Lab is also expanding AI capabilities through automation, machine learning, and advanced analytics, strengthening operational efficiency and positioning itself for higher-value defense and autonomous space opportunities.
BlackSky (BKSY - Free Report) is expanding its AI capabilities through real-time geospatial analytics, automated intelligence and machine learning-driven monitoring solutions. BlackSky is increasingly benefiting from rising defense and national security demand. BKSY’s AI-powered Earth-observation platform positions it for higher-margin government and intelligence contracts.
PL’s Price PerformancePL has gained 37.6% year to date, outperforming the industry.
Image Source: Zacks Investment Research
PL’s Expensive ValuationThe stock is overvalued compared with its industry. It is currently trading at a price-to-sales multiple of 20.67, higher than the industry average of 3.06.
Image Source: Zacks Investment Research
Estimate Movement for PLThe Zacks Consensus Estimate for PL’s fiscal second-quarter and third-quarter 2027 EPS witnessed no movement in the last seven days. The same holds true for fiscal 2027 and 2028.
Image Source: Zacks Investment Research
The consensus estimates for PL’s 2027 and 2028 revenues indicate year-over-year increases. While the estimate for fiscal 2027 earnings indicates a year-over-year decline, the same for fiscal 2028 indicates a year-over-year increase.
PL stock currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
