Planet Labs 2026 Q3 Earnings Widens Loss by 194.7% Despite 32.6% Revenue Jump

Planet Labs reported fiscal 2026 Q3 earnings on Dec 10th, 2025, with revenue rising 32.6% year-over-year to $81.25 million, surpassing expectations. The company raised Q4 and FY2026 revenue guidance amid strong defense contract wins but reported a net loss of $59.19 million, a 194.7% increase from the prior year.

Revenue

The company’s total revenue surged to $81.25 million in Q3 2026, driven by robust performance in defense and intelligence. The defense and intelligence segment contributed $49.37 million, reflecting 70% year-over-year growth, while civil government revenue reached $18.83 million. Commercial revenue totaled $13.06 million, highlighting a strategic shift toward higher-margin government contracts.

Earnings/Net Income

Planet Labs’ losses widened significantly, with a net loss of $59.19 million in Q3 2026, a 194.7% increase from $20.08 million in the prior year. The per-share loss expanded to $0.19 from $0.07, underscoring ongoing financial challenges despite revenue growth.

Post-Earnings Price Action Review

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CEO Commentary

CEO Will Marshall described Q3 as “another strong quarter,” emphasizing $81.3 million in revenue (33% YoY growth) and $5.6 million in Adjusted EBITDA profit. He cited key wins like the NGA’s $12.8M LUNO B contract and NRO’s $13.2M EOCL renewal, alongside strategic initiatives in AI-enabled solutions and satellite expansions.

Guidance

For Q4 2026, Planet Labs expects revenue of $76–80 million (27% YoY growth at midpoint) and Adjusted EBITDA loss of $7–5 million. Full-year 2026 revenue is projected at $297–301 million, with Adjusted EBITDA profit of $6–8 million. Capital expenditures are anticipated at $22–26 million in Q4 and $81–85 million annually.

Additional News

1. Strategic Expansion: Planet Labs announced a new Berlin facility to double Pelican satellite production capacity, supporting growing demand for high-resolution imaging.

2. Contract Wins: The company secured significant contracts, including the NGA’s $12.8M LUNO B and NRO’s $13.2M EOCL renewals, bolstering its defense and intelligence segment.

3. AI Collaboration: A partnership with Google for the SunCatcher project advances space-based AI computing, enhancing real-time data processing capabilities.

The stock closed at $12.88 post-earnings, with a 0.93% post-market gain, reflecting investor confidence in its strategic direction and long-term growth potential.