Overview

* Planet Labs fiscal Q2 revenue grows 20% YoY, beating analyst expectations

* Co launched 2 high-resolution Pelican satellites, enhancing data capabilities

Outlook

* Planet expects Q3 revenue between $71 mln and $74 mln

* Company sees FY 2026 revenue between $281 mln and $289 mln

* Planet anticipates Q3 non-GAAP gross margin of 55%-56%

* Company expects FY 2026 adjusted EBITDA loss between $7 mln and $0

Result Drivers

* GOVERNMENT CONTRACTS - Significant contracts with German government, NATO, and U.S. Department of Defense

* SATELLITE LAUNCHES - Launch of two high-resolution Pelican satellites enhances data capabilities, supporting growth

* BACKLOG GROWTH - Backlog increased by 245% YoY, providing strong future revenue visibility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $73.39 $65.70

Revenue mln mln (8

Analysts

)

Q2 Beat -$0.03 -$0.04

Adjusted (6

EPS Analysts

)

Q2 EPS -$0.07

Q2 Net -$22.59

Income mln

Q2 Gross 58.0%

Margin

Q2 61.0%

Adjusted

Gross

Margin

Q2 Gross $42.27

Profit mln

Q2 $60.23

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the aerospace & defense peer group is "buy"

* Wall Street's median 12-month price target for Planet Labs PBC ( PL ) is $8.00, about 18.4% above its September 5 closing price of $6.53

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)