How did Planet Labs' revenue and expenses trend in Q4 2025?

**Planet Labs' revenue and expenses in Q4 2025 showed notable improvements and significant developments**: 1. **Revenue Growth**: Planet Labs reported record revenue for the fourth quarter of 2025, although the exact figure is not provided, it indicates a substantial increase from the previous quarter. This growth can be attributed to the company's strategic shifts towards selling AI-enabled solutions and the signing of major commercial agreements, such as the $230 million contract with JSAT for Pelican Satellites. 2. **EBITDA Profitability**: For the first time in the company's history, Planet Labs achieved Adjusted EBITDA profitability in Q4 2025, marking a strong improvement in financial performance. This profitability is a result of enhanced operational efficiency and the positive impact of strategic initiatives. 3. **Margin Improvements**: The company reported increased gross margin both on a GAAP and non-GAAP basis, reflecting better operational efficiency and cost management. This improvement in margins is a positive indicator of the company's financial health and its ability to generate profits from its operations. 4. **Backlog and Contractual Commitments**: Planet Labs saw significant increases in its backlog, reaching $498.5 million, an increase of 115%. This substantial backlog, along with the $230 million commercial agreement with JSAT, provides a strong foundation for future revenue growth and indicates the company's successful market positioning and customer partnerships. In conclusion, Planet Labs experienced robust revenue growth, achieved profitability, and improved margins in Q4 2025, setting a strong financial performance benchmark for the future.