Planet Labs Pbc Stock Earnings Reports

Planet delivered a strong Q2: revenue of $73.4M (+~20% YoY), non‑GAAP gross margin of 61% (vs. 58% prior year), and adjusted EBITDA of $6.4M — its third consecutive quarter of adjusted EBITDA profitability. Management achieved positive free cash flow for the second consecutive quarter and now expects to be free cash flow positive for the full fiscal year, more than a year ahead of prior targets. Backlog and RPOs expanded materially (backlog ~$736M, +245% YoY; RPOs ~$690M, +516% YoY), giving revenue visibility into FY'27. Sector performance: Defense & Intelligence led growth (~41% YoY), commercial grew modestly (~6% YoY) and civil government declined (~4% YoY, impacted by NICFI/Norway). Key commercial and program wins include a EUR 240M multiyear satellite services collaboration with Germany, expanded JSAT activity, U.S. DoD/DIU options, and expanded EOCL work with NRO. Pelican and Tanager satellite programs continue to ramp (two Pelicans recently launched and commissioning; four Pelicans now in orbit total). Management is pushing into AI-enabled downstream solutions and accelerating its satellite services business. Guidance: Q3 revenue $71–74M; FY26 revenue raised to $281–289M; FY non‑GAAP gross margin 55–57%; FY adjusted EBITDA guidance -$7M to breakeven; FY capex $65–75M. Investor Day scheduled for Oct 16, 2025.