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EarningsQ2 2027 Earnings Report
PL Q2 2027 EPS Results
Actual EPS$0.02
Consensus EPS-$0.02
Beat/MissBeat by +$0.04
One Year Ago EPS-$0.03
PL Q2 2027 Revenue Results
Actual Revenue$116.05M
Expected Revenue$104.53M
Beat/MissBeat by +$11.52M
YoY Revenue Growth+58.14%
Earnings Announcement Details
QuarterQ2 2027
Date09/03/2026
TimeAfter Close
Conference CallThursday, September 3, 2026
PL Upcoming Earnings
Planet Labs PBC's next earnings date is estimated for December 14, 2026, based on past reporting schedules.
Q2 2027 Earnings Call Audio
PL Q2 2027 Earnings Call
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Q2 2027 Earnings Slide Deck
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, characterized by record revenue, approximately 58% year-over-year growth, better-than-expected gross margin and adjusted EBITDA, significant government and commercial wins, a rapidly expanding satellite-services pipeline, strong cash generation and raised full-year guidance. The main negatives were lower year-over-year gross margin, expected third-quarter sequential revenue and adjusted EBITDA declines, timing-related variability in satellite-services revenue, higher planned CapEx, launch-access challenges and the early beta status of the AI application. Highlights significantly outweighed the lowlights.Company Guidance
Record Revenue and Rule of 40 Performance
Second-quarter revenue reached a record $116 million, representing approximately 58% year-over-year growth. Planet exceeded the Rule of 40 for the fourth consecutive quarter, supported by strong execution across satellite services and continued momentum in Data and Solutions.
Strong Gross Margin and Adjusted EBITDA
Non-GAAP gross margin was 59%, considerably better than expected, demonstrating scalability of the business model. Adjusted EBITDA profit was $13.9 million, also better than expected, driven by higher gross margins and revenue outperformance.
Defense and Intelligence Growth
Defense and Intelligence revenue grew more than 90% year-over-year, supported in part by satellite services revenue and execution against the satellite services backlog.
Major NGA Global Monitoring Service Award
Planet was awarded a new $8 million contract with the National Geospatial-Intelligence Agency to deploy its Global Monitoring Service in support of national defense priorities, with options to expand and extend the work. Planet stated it was the only vendor considered, and the program graduated from a successful Defense Innovation Unit pilot to an operational program.
European Defense and Satellite Services Wins
Planet won a 7-figure, 1-year agreement with a European defense and intelligence customer to supply high-resolution global Mosaics and support operational planning. Germany also awarded Planet a tender for dedicated-capacity satellite services with options and a maximum possible value of EUR 25 million over 5 years.
Rapid Satellite Delivery and Swedish Handover
Planet completed commissioning and handed over the first sovereign Earth observation satellite for the Swedish Armed Forces. The satellite was launched four months after the contract was signed, and rapid commissioning enabled the handover in the second quarter, contributing to revenue outperformance.
Satellite Services Pipeline Expansion
Planet identified over $4 billion of satellite services opportunities, with over 25% qualified as near-term pipeline. Management said the pipeline is the largest it has seen, is maturing across both smaller and larger deals, and is being driven significantly by EMEA, APAC and North America.
Growth Across Commercial and Civil Government Markets
Commercial revenue grew over 15% year-over-year, while civil government revenue grew over 5%. Planet signed a new contract with the Rwanda Space Agency for national high-resolution data and analytics, marking its first national program of this kind in Africa, and renewed its partnership with the New Mexico State Land Office covering more than 9 million acres of public trust land.
International and Regional Revenue Growth
Year-over-year regional revenue growth was approximately 3% in Latin America, over 15% in Asia Pacific, approximately 25% in North America and over 130% in EMEA.
Commercial AI and Infrastructure Monitoring Demand
Planet signed a 6-figure expanded renewal with a hyperscaler AI developer for global monitoring of data-center and semiconductor-manufacturing facility construction. Management also cited meaningful demand from AI and financial-services customers to track infrastructure expansion across the AI value chain.
Agriculture and Natural-Resource Partnerships
Planet partnered with FarmQA to develop and commercialize AI-powered agronomic intelligence tools. Its first application, an AI-driven sugar-beet yield estimation model, was being piloted with multiple cooperatives during the 2026 growing season. Planet also partnered with Braga Technologies to integrate high-frequency satellite data into a spatial-intelligence platform for automated change detection and near-real-time analytics.
AI Application Progress and Data Advantage
Planet's AI application progressed to open beta, enabling natural-language queries across its proprietary 10-year archive of daily data. Management said the tool is intended to lower barriers for nontechnical users and that model commoditization accentuates the value of Planet's real-world data. Planet stated it has under 5% share of today's overall Earth observation market, excluding satellite services.
Pelican, Tanager and SuperDove Fleet Progress
Planet successfully launched its next-generation Pelican technology demonstrator, which included advancements in payloads, on-orbit compute and satellite-to-satellite communications and supports the path toward 30-centimeter-class imagery. The company shipped its second Tanager hyperspectral satellite and 18 SuperDove satellites for launch aboard SpaceX's Transporter-18 mission, expected in the fall, to double methane and CO2 detection capacity and enable higher revisit rates.
Owl Next-Generation Monitoring Program
Planet is accelerating its Owl program in response to customer interest. Owl is designed to upgrade monitoring data from 3-meter to 1-meter-class resolution, reduce latency to as little as an hour in key areas, deliver roughly 10x more data and operate about 10x faster. Management said the improved capabilities could support smaller-object detection, additional applications and higher pricing, with customers already showing interest.
Manufacturing and European Expansion
Planet's German manufacturing facility is expected to roughly double manufacturing capacity. Facility setup and clean-room fit-out were scheduled for September, with plans to begin building there during the year. Planet also announced an Isar Aerospace partnership to launch a Pelican next year from a German-built satellite and opened a new office in London to expand its European presence.
Recurring Revenue Quality and Retention
Recurring ACV represented 98% of the end-of-period ACV book of business, and approximately 94% consisted of annual or multiyear contracts. Net dollar retention was 109%, or 110% including Winbacks.
Cash Generation and Balance Sheet Strength
Year-to-date net cash from operating activities was approximately $68 million, year-to-date free cash flow was $21 million and adjusted free cash flow was $29 million, excluding nonrecurring litigation-settlement payments. Cash, cash equivalents and short-term investments totaled approximately $865 million, up over 200% year-over-year.
Backlog and Revenue Visibility
Remaining performance obligations were approximately $753 million, up approximately 9% year-over-year, while backlog was approximately $815 million, up approximately 11% year-over-year. Planet stated that executing existing backlog could result in over $400 million of revenue over the next four quarters, excluding new business and renewals.
Raised Fiscal Year 2027 Outlook
Planet increased the low end of its fiscal year 2027 guidance and now expects revenue of $430 million to $441 million, representing 40% to 43% year-over-year growth. Full-year non-GAAP gross margin is projected at 55% to 57%, adjusted EBITDA at $3 million to $10 million, and the company aims to achieve the Rule of 40 and annual adjusted free-cash-flow positivity.
Technology and Data Differentiation
Planet emphasized that its daily scan, calibrated multi-generation archive and broad-area monitoring capabilities support applications such as Global Monitoring Service and Maritime Domain Awareness. The company stated that it has launched 688 Earth imaging satellites on 42 rockets across 10 rocket varieties and that its Gen 2 technology demonstrator achieved its major goals, including RF inter-satellite links.
Investment in Capacity and Supply-Chain Resilience
Planet is investing in launch diversification, manufacturing capacity, supply-chain resiliency and next-generation fleets to support demand. Management said it is making advanced procurements and stockpiling critical components to address long-lead-time items and maintain delivery speed.
PL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed