Companies /Industrials

Planet Labs PBC - Class A

NYSE: PL Aerospace & Defense
$21.16
â–² $0.00 (+0.00%) today
Markets closed · 6:40am ET

Q3 2026 Earnings

Reported Dec 10, 2025, 4:05pm ET · SEC source
$0.00
Beat +100.00%
EPS · est. $-0.04
$81.3M
Beat +12.82%
Revenue · est. $72.0M
+52.8%
Beating market
PL vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+20%Dec 10Dec 11report 4:05pm ETearnings+0.2%+22.0%
0+20%Dec 10Dec 11earnings+0.2%+22.0%
PL +22.0%S&P 500 +0.2%
0+20%Dec 10Dec 11report 4:05pm ETearnings−0.5%+22.0%
0+20%Dec 10Dec 11earnings−0.5%+22.0%
PL +22.0%NASDAQ −0.5%
−20%0+20%Dec 9Dec 18report 4:05pm ETearnings−1.6%+14.1%
−20%0+20%Dec 9Dec 18earnings−1.6%+14.1%
PL +14.1%S&P 500 −1.6%
−20%0+20%Dec 9Dec 18report 4:05pm ETearnings−2.9%+14.1%
−20%0+20%Dec 9Dec 18earnings−2.9%+14.1%
PL +14.1%NASDAQ −2.9%
+35.01%
Day of report
+4.41%
Next session
+0.11%
One week
+53.01%
30 days

S&P 500 over the same 30 days: +0.17%.

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 $72.02 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

“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.”

Planet Labs CEO, on the earnings call

Forward Guidance & Outlook

For Q4 FY2026 (ending January 31, 2026), Planet expects revenue of $76M–$80M, non-GAAP gross margin of 50%–52%, adjusted EBITDA loss of ($7M)–($5M), and capital expenditures of $22M–$26M. For full fiscal year 2026, the company expects revenue of $297M–$301M, non-GAAP gross margin of 57%–58%, adjusted EBITDA profit of $6M–$8M, and capital expenditures of $81M–$85M.

PL YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$30.0M$60.0M$61.3M$81.3MRevenue$37.5M$46.6MGross Profit$-15,427,322$-18,340,000Operating Income
$0$30.0M$60.0MRevenueGross ProfitOperating Income

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