📈 Price History

Ratio Health

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📊 Sector Averages

About

Planet Labs PBC engages in the design, construction, and launch of constellations of satellites with the intent of providing high-cadence geospatial data delivered to customers through an online platform in the United States and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding PL

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	1.02M	$28.5M	0.04%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2026

Confident Specific

Management repeatedly uses words like 'excellent execution', 'phenomenal quarter', 'business is humming', and provides specific financial metrics (20% revenue growth, 61% gross margin, $6.4M adjusted EBITDA, $54.3M free cash flow). They emphasize milestones achieved ahead of schedule (free cash flow positive over a year earlier than target).

Q3 2026

Confident Specific

Management used definitive language like 'strong quarter', '33% growth year-over-year', 'fourth sequential quarter of Adjusted EBITDA profitability', and 'Backlog $734.5M up 216%'. They provided specific numbers and detailed contract wins, indicating a clear command of performance.

Q4 2026

Confident Specific

Management repeatedly used strong performance language ('record revenue', 'Adjusted EBITDA profitability', 'Rule of 40', 'backlog over $900 million') and provided specific financial guidance, but also acknowledged near-term margin compression and negative Q1 EBITDA from investment phase.

Q1 2027 latest

Confident Specific

Management repeatedly used positive language like 'excellent quarter', 'record revenue', '42% year-over-year growth', and 'third consecutive quarter achieving Rule of 40'. Specific figures ($94M revenue, 65%+ DNI growth, $906M backlog) and concrete customer wins (Sweden, NGA, U.S. Navy) were cited to support statements.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Revenue growth accelerated to 42% (above prior quarters) driven by sticky defense/intelligence contracts and a growing international sovereign pipeline. Raised full-year guidance demonstrates confidence in backlog conversion. The Rule of 40 achievement for three consecutive quarters shows improving unit economics. However, gross margins dipped slightly (56% vs 59% a year ago) due to investment cycle, and the orbital compute/data center story remains early-stage with no near-term revenue. Key watch items: pace of Pelican Gen-2/sovereign satellite deliveries, AI App monetization timeline, and any competition in the satellite services space. Balance sheet remains strong (~$731M cash). Overall, the call reinforces a high-growth trajectory with improving financial discipline.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Planet Labs delivers record $94M revenue, 42% YoY growth, Rule of 40 for third consecutive quarter.

Revenue & Profitability

Revenue was $94 million, up 42% year-over-year. Non-GAAP gross margin was 56%. Adjusted EBITDA loss was $1 million, better than expected. Net income was not reported. End-of-period backlog reached approximately $906 million (72% YoY growth), with RPOs of $816 million (over 80% YoY). Net dollar retention rate was 113% (114% with winbacks). For Q2 FY2027, revenue is guided to $102–$107 million, and for full year FY2027, revenue is raised to $425–$441 million.

Outlook

Management highlighted robust demand driven by geopolitical uncertainty, with nations seeking sovereign space capabilities and modernized defense systems. Europe is the strongest region, with EMEA revenue growing 86% year-over-year. Tailwinds include AI unlocking new use cases; headwinds include the reduction of the NASA contract (causing flat civil revenue). Launch competition is rising but Planet's diverse launch relationships mitigate risks.

Growth Drivers

Key growth drivers include Defense & Intelligence (over 65% YoY growth), led by U.S. government awards (e.g., $21.9M NGA extension, $7.5M Navy renewal) and international eight-figure dedicated capacity deals. Commercial growth exceeded 20%, aided by agriculture partnerships (John Deere, Nave Analytics) and new maritime/energy sector wins. Europe delivered 86% revenue growth, with contracts from Greece, Czech Republic, and Scotland.

Balance Sheet & CapEx

Capital expenditures were approximately $18 million in Q1, on the lower end of guidance. For FY2027, CapEx is planned at $80–$95 million, reflecting investments in next-generation satellites (Pelican Gen2, Owl), manufacturing scale-up in San Francisco and Berlin, and AI infrastructure. The company expects CapEx to increase in future quarters and remains free cash flow positive on an annual basis.

Margins

Non-GAAP gross margin was 56% in Q1, beating expectations due to strong bookings and high-margin data revenue. Q2 gross margin is guided to 52–55%, with full-year 52–54% (better than prior expectations). Margins are expected to expand in subsequent years as growth investments yield returns. Adjusted EBITDA for FY2027 is maintained at breakeven to $10 million, aiming for Rule of 40.

Key Risks

Risks discussed include: (1) the shift in Middle East imagery access from a 14-day delay to indefinite restriction, though core customers maintain access; (2) supply chain and launch competition, though Planet has diversified launch providers and buys ahead to de-risk; (3) reliance on U.S. government contracts, with potential timing and budget variability. No other material risks were flagged by management or analysts.

Generated by AI · Q1 2027 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-06-04

Record Q1 revenue grew 42% year-over-year, driven by defense, intelligence, and commercial wins. Backlog and RPOs surged, with strong global demand and robust guidance for fiscal 2027. AI and satellite innovation remain key growth drivers.

Q4 2026 Q4 2026 2026-03-19

Record revenue and profitability were achieved, driven by strong defense and intelligence demand, major satellite services contracts, and AI investments. Backlog and RPOs surged, supporting raised guidance for FY 2027, with continued focus on growth, innovation, and free cash flow generation.

Q3 2026 Q3 2026 2025-12-10

Q3 delivered 33% revenue growth, strong government sector wins, and fourth consecutive quarter of Adjusted EBITDA profitability. Backlog and RPOs surged, with robust cash from a $460M convertible debt raise. Strategic launches, new AI initiatives, and guidance for continued growth into FY2027 were highlighted.

Q2 2026 Q2 2026 2025-09-08

Q2 delivered 20% year-over-year revenue growth, improved gross margin, and strong adjusted EBITDA, driven by Defense & Intelligence and Commercial sectors. Backlog and RPOs surged, with major contract wins and continued investment in next-gen satellite fleets. Free cash flow positive outlook was accelerated.

Q1 2026 Q1 2026 2025-06-04

Q1 revenue grew 10% year-over-year to $66.3 million, with record gross margin and first-ever positive free cash flow. Defense and intelligence drove growth, backlog surged to $527 million, and guidance for fiscal 2026 was raised amid strong demand and new contract wins.

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