Planet Labs PBC (PL) AI Stock Analysis

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Planet Labs PBC

(NYSE:PL)

Select Model

Neutral 59 (OpenAI - 4o)

Rating:59Neutral

Price Target:

$10.00

▼(-16.18% Downside)

Planet Labs PBC's overall stock score is primarily driven by strong earnings call highlights, including revenue growth and backlog expansion. However, financial performance is hindered by profitability challenges and negative cash flow, while technical indicators suggest potential overbought conditions. The valuation remains unattractive due to negative earnings.

Positive Factors

Revenue Growth

A 20% YoY revenue increase indicates strong demand for Planet Labs' services, suggesting robust market position and potential for sustained growth.

Backlog Expansion

A significant backlog increase provides visibility into future revenue, supporting long-term financial stability and strategic planning.

Positive Free Cash Flow

Achieving positive free cash flow strengthens financial health, allowing for reinvestment and reducing reliance on external financing.

Negative Factors

Profitability Challenges

Ongoing profitability issues could hinder long-term financial health, necessitating operational improvements to sustain growth.

Negative Free Cash Flow Growth

Negative free cash flow growth suggests operational inefficiencies, potentially impacting the company's ability to fund future growth initiatives.

Decline in Civil Government Revenue

A decline in civil government revenue highlights sector-specific challenges, which could affect diversification and revenue stability.

Planet Labs PBC (PL) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$3.42B

Dividend YieldN/A

Average Volume (3M)12.55M

Price to Earnings (P/E)―

Beta (1Y)2.55

Revenue Growth11.33%

EPS Growth35.92%

CountryUS

Employees810

SectorIndustrials

Sector Strength72

IndustryAerospace & Defense

Share Statistics

EPS (TTM)-0.03

Shares Outstanding286,765,400

10 Day Avg. Volume19,196,101

30 Day Avg. Volume12,553,140

Financial Highlights & Ratios

PEG Ratio0.90

Price to Book (P/B)4.04

Price to Sales (P/S)7.29

P/FCF Ratio-30.37

Enterprise Value/Market Cap0.48

Enterprise Value/Revenue6.25

Enterprise Value/Gross Profit10.61

Enterprise Value/Ebitda-29.37

Forecast

1Y Price Target

$9.89

Price Target Upside-17.10% Downside

Rating ConsensusStrong Buy

Number of Analyst Covering9

Planet Labs PBC Business Overview & Revenue Model

Company DescriptionPlanet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems. It serves agriculture, mapping, forestry, and finance and insurance, as well as federal, state, and local government bodies. The company was incorporated in 2010 and is headquartered in San Francisco, California.

How the Company Makes MoneyPlanet Labs generates revenue primarily through the sale of satellite imagery and geospatial data services. Its main revenue streams include subscriptions for access to its data platform, which allows customers to retrieve and analyze satellite imagery on demand. The company also offers custom data solutions and analytics services tailored to specific industries. Significant partnerships with government agencies, non-profit organizations, and commercial enterprises further bolster its earnings, as these collaborations often involve long-term contracts and data-sharing agreements. Additionally, Planet Labs may explore opportunities in data licensing and software development to expand its revenue base.

Planet Labs PBC Key Performance Indicators (KPIs)

Any

Customer Count

Customer Count
Indicates the total number of customers, reflecting the company's market reach and potential for revenue growth.

Chart InsightsPlanet Labs' customer count showed consistent growth until a recent decline, dropping from a peak in early 2024. Despite this, the company's strong financial performance, highlighted by record revenue and a significant backlog, suggests resilience. The earnings call emphasized growth in the defense and intelligence sectors, which may offset challenges in civil government revenue. The strategic focus on expanding satellite services and AI solutions could stabilize customer numbers and drive future growth, even amidst potential budget cuts in governmental programs.

Data provided by:

Main Street Data

Planet Labs PBC Earnings Call Summary

Earnings Call Date:Sep 08, 2025

(Q2-2026)

% Change Since: |

Next Earnings Date:Dec 15, 2025

Earnings Call Sentiment Positive

The earnings call reflects strong financial performance with significant growth in revenue and backlog, coupled with notable achievements in the defense and intelligence sector. Despite challenges in the civil government sector and flat revenue in North America, the overall sentiment is positive due to the company's profitability milestones and technological advancements.

Q2-2026 Updates

Positive Updates

Revenue Growth and Profitability

Planet Labs reported $73.4 million in revenue, marking a 20% year-over-year growth. The company achieved its third consecutive quarter of adjusted EBITDA profitability with $6.4 million and a free cash flow margin of approximately 39%.

Significant Backlog Increase

The company's backlog increased to $736.1 million, representing a year-over-year increase of 245%, providing excellent visibility into future revenue streams.

Strong Performance in Defense and Intelligence Sector

Revenue in the Defense and Intelligence sector grew approximately 41% year-over-year, with notable contract expansions, including a seven-figure option by the Defense Innovation Unit and an expanded contract with the U.S. National Reconnaissance Office.

Positive Free Cash Flow Milestone

The company achieved positive free cash flow ahead of schedule, enhancing its financial position with $271.5 million in cash and short-term investments.

Satellite Launches and Technological Advancements

Successfully launched two high-resolution Pelican satellites and celebrated the one-year anniversary of Tanager 1, highlighting ongoing advancements in satellite technology.

Negative Updates

Decline in Civil Government Revenue

Civil government sector revenue was down approximately 4% year-over-year, attributed to the expiration of the partnership with Norway's NICFI.

Flat Revenue in North America

North America revenue remained roughly flat year-on-year, reflecting variability and timing of pilot contracts with the U.S. government.

Company Guidance

During the Planet Labs PBC second quarter fiscal 2026 earnings call, significant guidance was provided, highlighting strong financial and operational performance. The company reported $73.4 million in revenue, marking a 20% year-over-year increase, alongside a non-GAAP gross margin of 61%, up from 58% the previous year. Adjusted EBITDA profit reached $6.4 million, and the company achieved its second consecutive quarter of positive free cash flow, with year-to-date free cash flow totaling $54.3 million, representing a 39% margin. The backlog soared to $736.1 million, a 245% increase year-over-year, providing excellent revenue visibility for the next 12 to 24 months. The guidance for Q3 2026 anticipates revenue between $71 million and $74 million, with a non-GAAP gross margin forecasted between 55% and 57%, while full-year fiscal 2026 revenue is expected to range from $281 million to $289 million. The company also projected achieving free cash flow positivity for the year, ahead of prior targets, driven by robust demand in defense, intelligence, and commercial sectors, and highlighted upcoming strategic growth initiatives, including an Investor Day in October 2025.

Planet Labs PBC Financial Statement Overview

Summary

Planet Labs PBC shows revenue growth and a strong equity position with low leverage. However, profitability challenges persist with negative net income and cash flow issues. The focus should be on improving operational efficiency and cash generation to enhance financial stability.

Income Statement

Neutral

Planet Labs PBC shows a positive revenue growth trend, with a TTM revenue growth rate of 4.91%. However, the company is struggling with profitability, as indicated by negative net profit margins (-34.46%) and EBIT margins (-33.09%) in the TTM. The gross profit margin is relatively healthy at 58.90%, suggesting efficient production, but the overall profitability is hampered by high operating expenses.

Balance Sheet

Neutral

The company maintains a strong equity position with a low debt-to-equity ratio of 0.04, indicating low financial leverage. However, the return on equity is negative (-20.25%), reflecting ongoing losses. The equity ratio is not explicitly calculated, but the low leverage suggests a stable financial structure.

Cash Flow

Negative

Planet Labs PBC has shown improvement in operating cash flow, but free cash flow growth is negative (-170.73%), indicating challenges in generating cash from operations. The operating cash flow to net income ratio is 0.41, which is relatively low, suggesting limited cash conversion from earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	262.47M	244.35M	220.70M	191.26M	131.21M	113.17M
Gross Profit	154.60M	139.72M	112.95M	94.01M	48.22M	25.79M
EBITDA	-55.86M	-75.10M	-92.06M	-117.79M	-81.14M	-54.38M
Net Income	-90.45M	-123.20M	-140.51M	-161.97M	-137.12M	-127.10M
Balance Sheet
Total Assets	696.42M	633.80M	702.00M	752.72M	821.44M	399.31M
Cash, Cash Equivalents and Short-Term Investments	277.85M	228.67M	298.91M	408.76M	490.76M	71.18M
Total Debt	17.54M	21.61M	24.93M	22.03M	0.00	163.86M
Total Liabilities	260.74M	192.51M	183.98M	176.62M	173.20M	291.80M
Stockholders Equity	435.69M	441.29M	518.02M	576.10M	648.25M	107.51M
Cash Flow
Free Cash Flow	32.36M	-58.67M	-93.12M	-86.69M	-57.14M	-34.15M
Operating Cash Flow	82.90M	-14.37M	-50.71M	-73.93M	-42.21M	-4.03M
Investing Cash Flow	-41.52M	57.91M	-33.59M	-242.26M	-25.15M	-30.80M
Financing Cash Flow	-20.59M	-15.54M	-1.60M	7.86M	489.18M	83.94M

Planet Labs PBC Technical Analysis

Technical Analysis Sentiment

Positive

Last Price11.93

Price Trends

50DMA

7.57

Positive

100DMA

6.25

Positive

200DMA

5.26

Positive

Market Momentum

MACD

1.26

Negative

RSI

81.26

Negative

STOCH

92.04

Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL, the sentiment is Positive. The current price of 11.93 is above the 20-day moving average (MA) of 9.06, above the 50-day MA of 7.57, and above the 200-day MA of 5.26, indicating a bullish trend. The MACD of 1.26 indicates Negative momentum. The RSI at 81.26 is Negative, neither overbought nor oversold. The STOCH value of 92.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PL.

Planet Labs PBC Risk Analysis

Planet Labs PBC disclosed 80 risk factors in its most recent earnings report. Planet Labs PBC reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Planet Labs PBC Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PL	59 Neutral	$3.42B	―	-19.90%	―	11.33%	35.92%
RKLB	55 Neutral	23.56B	-106.43	-33.60%	―	54.36%	-26.35%
VOYG	48 Neutral	1.80B	―	-110.40%	―	―	―
EVEX	43 Neutral	1.22B	-6.44	―	―	―	-30.78%
LUNR	43 Neutral	1.79B	-3.79	64.24%	―	43.23%	-3174.53%
RDW	41 Neutral	1.35B	-2.88	-20.72%	―	-10.50%	-230.68%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

* Industrials Sector Average

Performance Comparison

Planet Labs PBC

11.93

9.75

447.25%

EVEX

Eve Holding

4.06

0.86

26.87%

RKLB

Rocket Lab USA

48.69

40.07

464.85%

RDW

Redwire

9.35

2.40

34.53%

LUNR

Intuitive Machines

9.99

2.00

25.03%

VOYG

Voyager Technologies, Inc. Class A

30.49

-19.01

-38.40%

Planet Labs PBC Corporate Events

Business Operations and StrategyExecutive/Board Changes

Planet Labs PBC Elects Scott Reese to Board

Positive

Sep 10, 2025

On September 5, 2025, Planet Labs PBC announced the election of Scott Reese to its board of directors, with the election becoming effective later in the year. Scott Reese, currently the CEO of the Electrification Software business at GE Vernova, brings extensive experience in software and product development, which is expected to aid Planet in its strategic growth and mission to provide global intelligence through satellite imagery. Reese’s leadership is anticipated to guide Planet through its next chapter of growth and expansion in key markets.

The most recent analyst rating on (PL) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on Planet Labs PBC stock, see the PL Stock Forecast page.

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 12, 2025