Planet Labs PBC (NYSE:PL) Issues Quarterly Earnings Results

Planet Labs PBC (NYSE:PL) posted its quarterly earnings data on Thursday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04, Briefing.com reports. Planet Labs PBC had a negative return on equity of 109.97% and a negative net margin of 95.13%.The firm had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. During the same period in the prior year, the business earned ($0.07) EPS. The firm’s revenue was up 58.2% compared to the same quarter last year.

Here are the key takeaways from Planet Labs PBC’s conference call:

• Record Q2 revenue reached $116 million, up approximately 58% year over year, while non-GAAP gross margin was 59% and adjusted EBITDA was $13.9 million. Growth was led by satellite services and continued momentum in data and AI-enabled solutions.
• Planet raised the low end of its fiscal 2027 outlook, now forecasting revenue of $430 million to $441 million, non-GAAP gross margin of 55% to 57%, and adjusted EBITDA of $3 million to $10 million. Management also expects to remain adjusted free-cash-flow positive for the full year.
• The satellite-services pipeline expanded to more than $4 billion, with over 25% classified as near-term opportunities, including a German dedicated-capacity award worth up to €25 million over five years. Planet also highlighted an $8 million NGA contract and a new European defense agreement.
• Planet is accelerating investment in Pelican and Owl satellites, manufacturing capacity, supply-chain resiliency, and AI solutions, increasing fiscal-year CapEx guidance to approximately $100 million to $115 million. Owl is expected to provide roughly 10 times more data at up to 10 times lower latency, potentially supporting higher pricing and additional applications.
• Q3 revenue is expected to decline sequentially to $101 million to $105 million, partly because the Swedish satellite handover pulled point-in-time revenue into Q2. Q3 is also expected to post an adjusted EBITDA loss of $6 million to $1 million, while the $120 million raised through the ATM program during Q2 creates additional shareholder dilution.

Planet Labs PBC Trading Down 1.3%

Shares of PL opened at $18.12 on Friday. Planet Labs PBC has a 1-year low of $6.26 and a 1-year high of $51.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. The firm has a 50 day simple moving average of $23.66 and a 200-day simple moving average of $30.03. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of -16.47 and a beta of 2.10.

Analyst Ratings Changes

PL has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their price objective on shares of Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Citizens Jmp reissued a “market perform” rating on shares of Planet Labs PBC in a research note on Friday. The Goldman Sachs Group lifted their price target on Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Citigroup reaffirmed a “market perform” rating on shares of Planet Labs PBC in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.72.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet posted record fiscal Q2 revenue of $116.1 million, up 58% year over year and well above the $104.5 million consensus estimate. Adjusted earnings of $0.02 per share also exceeded expectations for a $0.02 loss. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Management raised fiscal 2027 guidance and highlighted a satellite-services pipeline exceeding $4 billion, along with accelerating investment in its Owl satellite initiative. These developments support the longer-term growth case. PL Q2 Earnings Call Highlights Satellite Services Expansion
• Positive Sentiment: Planet announced a seven-figure agreement with a European defense and intelligence customer, adding to investor interest in its government and defense business. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: Analyst sentiment improved: Berenberg upgraded Planet to “strong buy,” while Needham maintained a Buy rating despite reducing its price target to $40.
• Neutral Sentiment: New Street Research upgraded PL from Sell to Neutral with a $22 price target, and Citizens JMP reaffirmed its Market Perform rating, signaling improving but still cautious sentiment. New Street Upgrades Planet Labs PBC to Neutral From Sell
• Negative Sentiment: Fiscal Q3 revenue guidance of $101 million-$105 million was below the approximately $114 million analyst consensus. The weaker near-term outlook may be prompting selling despite the Q2 beat.

Insider Transactions at Planet Labs PBC

In related news, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director owned 37,114 shares of the company’s stock, valued at approximately $970,902.24. The trade was a 14.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ashley F. Johnson sold 75,035 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the completion of the transaction, the chief financial officer owned 1,132,122 shares in the company, valued at approximately $24,997,253.76. This trade represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 171,122 shares of company stock valued at $4,148,906 over the last three months. 16.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in shares of Planet Labs PBC by 320.3% in the 4th quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock valued at $151,429,000 after purchasing an additional 5,851,758 shares in the last quarter. Invesco Ltd. raised its holdings in Planet Labs PBC by 265.6% in the third quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after buying an additional 2,506,595 shares during the period. Two Sigma Investments LP raised its holdings in Planet Labs PBC by 257.5% in the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock valued at $30,662,000 after buying an additional 1,701,535 shares during the period. Marshall Wace LLP lifted its position in Planet Labs PBC by 10,305.7% during the second quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock valued at $9,206,000 after buying an additional 1,494,744 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Planet Labs PBC by 477.9% during the second quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock valued at $8,233,000 after buying an additional 1,116,055 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.