Q1 26 EPS
$0.00
BEAT +100.00%
Est. $-0.03
Q1 26 Revenue
$66.3M
BEAT +6.45%
Est. $62.3M
vs S&P Since Q1 26
+559.6%
BEATING MARKET
PL +584.6% vs S&P +25.1%
Market Reaction
Did PL Beat Earnings? Q1 2026 Results
Planet Labs posted a notably clean fiscal Q1 2026, with revenue of $66.27 million rising 9.6% year-over-year and beating the $62.25 million consensus by 6.45%, while EPS came in at $0.00, well ahead of the Street's estimate of negative $0.03. The qua… Read more Planet Labs posted a notably clean fiscal Q1 2026, with revenue of $66.27 million rising 9.6% year-over-year and beating the $62.25 million consensus by 6.45%, while EPS came in at $0.00, well ahead of the Street's estimate of negative $0.03. The quarter's most compelling signal, however, came from the backlog, where remaining performance obligations surged 262% year-over-year to $451.93 million, reflecting the momentum from large contract wins including an eight-figure ACV deal with a European defense and intelligence customer. Those wins, combined with tighter operating discipline, helped swing adjusted EBITDA to a positive $1.20 million from a loss of $8.40 million a year ago, and pushed free cash flow to a positive $8.00 million from negative $15.65 million. Investors tracking the recovery will note that management guided full-year FY2026 revenue of $265 million to $280 million, maintaining confidence in an accelerating growth trajectory even as near-term adjusted EBITDA losses are expected to persist.
Key Takeaways
- • 10% YoY revenue growth to record $66.3 million
- • RPOs increased 262% YoY to $451.9 million
- • Backlog grew 140% YoY to $527.0 million
- • 97% recurring ACV rate
- • Gross margin expansion to 55% GAAP (from 52%) and 59% non-GAAP (from 55%)
- • Adjusted EBITDA turned positive at $1.2 million vs. ($8.4) million loss a year ago
- • Operating cash flow swung to $17.3 million positive from ($4.3) million negative
PL YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“We had an excellent first quarter, exceeding our expectations, demonstrating solid validation of our strategic direction and great execution.”
— Will Marshall, Q1 2026 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% |