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Planet Labs PBC

PL

Planet Labs PBC • NYSE
$11.93 ▲ 1.75% (+0.20)
Market Cap $3.67 B
52w High $16.78
52w Low $2.79
Dividend Yield 0%
P/E -38.47
Volume 2.05M
Outstanding Shares 307.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $73.386M ▲ $60.228M ▲ $-22.592M ▼ -30.785% ▼ $-0.074 ▼ $-11.473M ▲
Q1-2026 $66.265M ▲ $59.374M ▲ $-12.628M ▲ -19.057% ▲ $-0.042 ▲ $-11.689M ▼
Q4-2025 $61.554M ▲ $57.581M ▼ $-35.154M ▼ -57.111% ▼ $-0.12 ▼ $-10.094M ▲
Q3-2025 $61.266M ▲ $60.125M ▼ $-20.081M ▲ -32.777% ▲ $-0.069 ▲ $-22.608M ▲
Q2-2025 $61.092M $73.071M $-38.668M -63.295% $-0.13 $-26.432M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $277.853M ▲ $696.425M ▲ $260.736M ▲ $435.689M ▼
Q1-2026 $226.095M ▲ $658.39M ▲ $213.588M ▲ $444.802M ▲
Q4-2025 $222.075M ▼ $633.796M ▲ $192.51M ▲ $441.286M ▼
Q3-2025 $242.224M ▼ $630.764M ▼ $166.159M ▼ $464.605M ▼
Q2-2025 $249.39M $658.351M $185.104M $473.247M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-22.592M ▼ $67.774M ▲ $-19.438M ▼ $-1.004M ▲ $47.326M ▲ $49.329M ▲
Q1-2026 $-12.628M ▲ $17.346M ▲ $1.74M ▲ $-9.159M ▼ $15.61M ▲ $7.381M ▲
Q4-2025 $-35.154M ▼ $-6.295M ▼ $-13.134M ▼ $-233K ▲ $-19.937M ▼ $-19.302M ▼
Q3-2025 $-20.081M ▲ $4.076M ▲ $-10.686M ▼ $-10.196M ▼ $-16.698M ▼ $-5.052M ▲
Q2-2025 $-38.668M $-7.858M $51.243M $-2.731M $40.896M $-28.771M

Revenue by Products

Product Q2-2026
Reportable Segment
Reportable Segment
 $70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Planet has steadily grown its revenue over the past several years and improved its gross profit, which means the core business of selling imagery and data is scaling in the right direction. However, operating costs remain high relative to revenue, reflecting heavy spending on staff, product development, and sales. The company still runs at a meaningful loss at the operating and net income level, though the loss is gradually narrowing. The story on the income statement is “growing top line, improving unit economics, but not yet at scale to cover the full cost base.”

Balance Sheet

Balance Sheet The balance sheet shows a business that is asset‑heavy in satellites and technology, with a solid equity cushion and very little debt, which reduces financial risk from leverage. Cash levels have come down from earlier, more cash‑rich years, as the company invested in operations and new constellations. Equity has eased back from its peak as losses accumulate, but there is still a meaningful capital base supporting the business. The key watchpoint is how long the current cash and assets can comfortably support ongoing investment and losses before additional funding might be needed.

Cash Flow

Cash Flow Cash flow is improving but not yet where it needs to be for a self‑funding model. Operating cash outflows have narrowed over time, showing better discipline and some operating leverage as revenue grows. Free cash flow remains negative, as the company continues to spend on satellite and platform investments, but the gap is shrinking. In simple terms, Planet is still consuming cash, but at a slower rate than before; turning that into sustainably positive cash flow will depend on continued growth in higher‑margin data and software revenues and careful control of new fleet spending.

Competitive Edge

Competitive Edge Planet occupies a differentiated niche in Earth observation: a very large, low‑cost satellite constellation that images the entire planet daily, combined with a deep historical archive. This scale, plus its subscription data model and analytics platform, gives it a meaningful edge versus many smaller or more traditional satellite operators. Its customer base is diversified across agriculture, government, defense, and environmental use cases, and recurring contracts provide some visibility. Competition is still intense, from both specialized imagery peers and larger aerospace and defense players, and alternative data sources like drones and other sensors. Planet’s moat rests on its data depth, its ability to refresh imagery frequently, its analytics ecosystem, and the network effects of more users building on its platform.

Innovation and R&D

Innovation and R&D Innovation is central to Planet’s strategy. The company continues to roll out next‑generation constellations like Pelican for sharper, more frequent imaging and Tanager for rich hyperspectral data, which can open up new, higher‑value applications in defense, agriculture, mining, and climate. It is also layering AI and machine learning on top of its imagery to provide ready‑to‑use insights, not just raw pictures, and is pushing computing power onto the satellites themselves to speed up analysis. The “satellite‑as‑a‑service” approach and partnerships with technology and defense players add further optionality. The upside is a move up the value chain into premium analytics; the risk is execution complexity, long development cycles, and the need to keep funding this R&D while the company is not yet profitable.

Summary

Planet Labs looks like a classic high‑innovation, growth‑stage space and data company: strategically well‑positioned with distinctive technology and a strong data moat, but still working through the financial journey from promising platform to consistently profitable business. Revenue and gross profit trends are encouraging, and cash burn is moderating, yet the company remains loss‑making and reliant on continued growth and capital discipline. Its long‑term outcome will hinge on successfully deploying its new constellations, deepening its AI‑driven analytics, expanding higher‑margin software and services, and managing cash carefully in a competitive, capital‑intensive industry. Investors monitoring Planet typically focus on the balance between its clear technological and market advantages and the ongoing financial risk from operating losses and continued investment needs.

NEWS

November 28, 2025 · 4:57 PM UTC

Planet Launches High-Resolution Pelican-5, Pelican-6 Satellites and 36 SuperDoves

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November 18, 2025 · 3:23 AM UTC

Planet and Quantum Systems Partner on Joint Satellite and Drone Monitoring Capabilities for European Defense Customers

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November 17, 2025 · 9:05 AM UTC

Planet to Announce Fiscal Third Quarter 2026 Results on Wednesday, December 10, 2025

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November 5, 2025 · 9:03 AM UTC

Planet Signs 8-Figure Contract Renewal with International Defense and Intelligence Customer

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October 16, 2025 · 9:02 AM UTC

Planet Awarded Luno B Contract by National Geospatial-Intelligence Agency (NGA) for AI-Enabled Solutions

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