Q3 26 EPS
$0.00
BEAT +100.00%
Est. $-0.04
Q3 26 Revenue
$81.3M
BEAT +12.82%
Est. $72.0M
vs S&P Since Q3 26
+100.5%
BEATING MARKET
PL +108.1% vs S&P +7.6%
Market Reaction
Did PL Beat Earnings? Q3 2026 Results
Planet Labs delivered a standout fiscal third quarter, beating Wall Street on both the top and bottom lines as surging demand from defense and intelligence customers powered a 32.6% year-over-year revenue jump to $81.25 million, well ahead of the $72… Read more Planet Labs delivered a standout fiscal third quarter, beating Wall Street on both the top and bottom lines as surging demand from defense and intelligence customers powered a 32.6% year-over-year revenue jump to $81.25 million, well ahead of the $72.02 million consensus. On a non-GAAP basis, the company posted EPS of $0.00, a full 100% beat against the $-0.04 consensus estimate, while adjusted EBITDA swung to a $5.62 million profit from near breakeven a year ago, marking four consecutive quarters of adjusted profitability. The headline GAAP net loss widened sharply to $59.19 million, though the deterioration was largely attributable to a $43.47 million non-cash charge tied to warrant liability revaluation rather than operational weakness. Backlog surged 216% year-over-year to $734.47 million, providing substantial forward visibility that analyst commentary characterized as a key confidence driver alongside the company's growing government contract roster. Looking ahead, Planet guided full-year fiscal 2026 revenue of $297 million to $301 million, with adjusted EBITDA profit of $6 million to $8 million.
Key Takeaways
- • 33% year-over-year revenue growth driven by defense and intelligence contract wins
- • 97% recurring annual contract value demonstrating strong subscription-based revenue model
- • Remaining performance obligations grew 361% YoY to $672 million
- • Backlog grew 216% YoY to $734 million
- • Fourth consecutive quarter of adjusted EBITDA profitability
- • Third consecutive quarter of positive free cash flow
PL YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
“We delivered a strong third quarter, marked by continued momentum in the business, accelerated revenue growth, and excellent progress on our profitability goals. We're seeing strong traction with our AI-enabled global monitoring solutions, demonstrated by our recent award under the NGA's Luno B program and expansion with NATO. We're announcing our acquisition of Bedrock Research, an AI-enabled solutions company, to accelerate our roadmap in support of this demand.”
— Will Marshall, Q3 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% |