Companies /Industrials

Planet Labs PBC - Class A

NYSE: PL Aerospace & Defense
$21.16
â–² $0.00 (+0.00%) today
Markets closed · 8:03am ET

Q1 2026 Earnings

Reported Jun 4, 2025, 4:05pm ET · SEC source
$0.00
Beat +100.00%
EPS · est. $-0.03
$66.3M
Beat +6.45%
Revenue · est. $62.3M
+9.7%
Beating market
PL vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−20%0+20%+40%Jun 4Jun 5report 4:05pm ETearnings−0.5%+28.9%
−20%0+20%+40%Jun 4Jun 5earnings−0.5%+28.9%
PL +28.9%S&P 500 −0.5%
−20%0+20%+40%Jun 4Jun 5report 4:05pm ETearnings−1.0%+28.9%
−20%0+20%+40%Jun 4Jun 5earnings−1.0%+28.9%
PL +28.9%NASDAQ −1.0%
0+20%+40%Jun 3Jun 12report 4:05pm ETearnings+1.2%+19.0%
0+20%+40%Jun 3Jun 12earnings+1.2%+19.0%
PL +19.0%S&P 500 +1.2%
0+20%+40%Jun 3Jun 12report 4:05pm ETearnings+0.9%+19.0%
0+20%+40%Jun 3Jun 12earnings+0.9%+19.0%
PL +19.0%NASDAQ +0.9%
+49.37%
Day of report
−2.01%
Next session
−8.39%
One week
+14.93%
30 days

S&P 500 over the same 30 days: +5.23%.

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 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. <a href="https://247wallst.com/investing/2025/06/04/planet-labs-pl-earnings-live-recovery-in-motion-amid-discounted-shares/">Investors tracking the recovery</a> 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

“We had an excellent first quarter, exceeding our expectations, demonstrating solid validation of our strategic direction and great execution.”

Planet Labs CEO, on the earnings call

Forward Guidance & Outlook

For Q2 FY2026 (ending July 31, 2025), Planet expects revenue of approximately $65 million to $67 million, non-GAAP gross margin of 56% to 57%, adjusted EBITDA loss of ($4) million to ($2) million, and capital expenditures of $17 million to $22 million. For full fiscal year 2026, the company expects revenue of $265 million to $280 million, non-GAAP gross margin of 55% to 57%, adjusted EBITDA loss of ($12) million to ($7) million, and capital expenditures of $50 million to $65 million. Management noted continued good visibility to meaningful revenue growth rate acceleration.

PL YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$30.0M$60.0M$60.4M$66.3MRevenue$31.7M$36.6MGross Profit$-16,976,814$-22,771,000Operating Income$-8,048,951$-12,628,000Net Income
$0$30.0M$60.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.