Q3 25 EPS
$-0.02
BEAT +49.75%
Est. $-0.04
Q3 25 Revenue
$61.3M
MISS 2.93%
Est. $63.1M
vs S&P Since Q3 25
+725.7%
BEATING MARKET
PL +748.8% vs S&P +23.1%
Market Reaction
Did PL Beat Earnings? Q3 2025 Results
Planet Labs posted a mixed but broadly encouraging set of results for its fiscal third quarter, beating on the bottom line while falling modestly short on revenue. The satellite imagery company reported revenue of $61.27 million for the quarter ended… Read more Planet Labs posted a mixed but broadly encouraging set of results for its fiscal third quarter, beating on the bottom line while falling modestly short on revenue. The satellite imagery company reported revenue of $61.27 million for the quarter ended October 31, 2024, up 10.6% year over year but slightly below the $63.12 million consensus estimate. The earnings picture was considerably brighter, with a non-GAAP loss per share of $0.02 beating the $0.04 consensus by 49.75%, driven by a sharp improvement in gross margins, with GAAP gross margin expanding to 61% from 47% a year earlier. That margin expansion also compressed the Adjusted EBITDA loss to just $242,000, compared to a $11.98 million deficit in the prior-year period, as the company's earlier restructuring efforts continued to reduce its cost base. Management cited its largest quarter of annual contract value bookings as a key demand signal, with government wins including a $19.95 million NASA contract order. Looking ahead, Planet guided Q4 revenue of $61 million to $63 million and projects its first quarter of Adjusted EBITDA profitability, targeting a result between breakeven and $2 million.
Key Takeaways
- • Largest-ever quarter of ACV bookings
- • 97% recurring ACV
- • GAAP gross margin expanded to 61% from 47% YoY
- • Non-GAAP gross margin expanded to 64% from 52% YoY
- • Operating expense reduction: total opex down to $60.1M from $73.9M YoY
- • Adjusted EBITDA loss narrowed to ($0.2M) from ($12.0M) YoY
- • Multiple large government contract wins globally
PL YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet's largest ever quarter of ACV bookings, helping lay the foundation for future growth.”
— Will Marshall, Q3 2025 Earnings Press Release
PL Earnings Trends
PL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PL EPS Trend
Earnings per share: estimate vs actual
PL Revenue Trend
Quarterly revenue: estimate vs actual
PL Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $-0.04 | $-0.03 | +28.57% | $94.2M | +4.46% |
| Q4 26 BEAT FY | $-0.05 | $0.00 | +100.00% | $86.8M | +11.07% |
| FY Full Year | — | $-0.04 | — | $307.7M | — |
| Q3 26 BEAT | $-0.04 | $0.00 | +100.00% | $81.3M | +12.82% |
| Q2 26 BEAT | $-0.04 | $-0.03 | +33.04% | $73.4M | +11.30% |
| Q1 26 BEAT | $-0.03 | $0.00 | +100.00% | $66.3M | +6.45% |
| Q0 26 | $-0.05 | — | — | — | — |
| Q4 25 MISS FY | $-0.02 | $-0.08 | -243.35% | $61.6M | -0.53% |
| FY Full Year | — | $-0.20 | — | $244.4M | — |
| Q3 25 BEAT | $-0.04 | $-0.02 | +49.75% | $61.3M | -2.93% |