What guidance did Planet Labs's management provide for the next earnings period?

What is Planet Labs's gross profit margin?

What does Planet Labs do and what are its main business segments?

What is the revenue and EPS growth rate for Planet Labs year over year?

Did Planet Labs beat or miss consensus estimates last quarter?

What factors drove the changes in Planet Labs's revenue and profit?

What is Planet Labs's latest dividend and current dividend yield?

What were the key takeaways from Planet Labs's earnings call?

- **Revenue beats 20% YoY**: $73.4M driven by 41% Defense growth.
- **Margin expansion**: 61% gross (vs. 58%), $6.4M EBITDA profit.
- **Satellite services deal**: $240M Germany contract drives free cash flow positive.
- **AI & methane detection**: 3,000 emissions sources identified.
- **Risk**: Civil gov't down 4% YoY.

**【CEO Summary Section】**
- Q2 revenue of $73.4 million, up 20% YoY, driven by 41% growth in Defense & Intelligence sector.
- Non-GAAP gross margin improved to 61% (vs. 58% last year), with $6.4M adjusted EBITDA profit.
- Satellite services deal with Germany adds $240M multiyear backlog, enabling free cash flow positive for FY26.
- Pelican satellites launched, expanding daily scan capabilities for AI-driven solutions.
- Commercial sector grows 6% YoY, Swiss Re insurance pilot pays $7.9M in Syria.

**【CFO Financial Commentary】**
- Backlog surges 245% YoY to $736M, 32% of which is next 12 months.
- Free cash flow $54.3M YTD, 39% margin, first annual free cash flow positive.
- Guidance: Q3 $71-74M, FY26 $281-289M, 55-57% gross margin.
- Capital spend $65-75M for Pelican/Tanager fleets.

**【Q&A Highlights】**
- Germany satellite deal leverages existing Pelican capacity, 100% utilization.
- Maritime Domain Awareness wins with U.S. Navy & NATO, high-margin solutions.
- Anthropic AI partnership enhances data analysis scalability.
- Risk: Civil gov't revenue down 4% YoY due to Norway contract expiration.
- Tanager methane detection identifies 3,000 sources with Carbon Mapper.
- 2027 growth visibility from $736M backlog, 59% next 24 months.


Planet Labs PBC (PL) Q2 2026 Earnings Call Transcript

- **Record Q1 Performance**: $66.3M revenue (+10% YoY), $8M free cash flow, and $1.2M EBITDA profit mark new highs.
- **Backlog Surge**: $527M backlog (+140% YoY), with 76% of contracts covering next 24 months.
- **AI-Driven Growth**: Anthropic partnership and AI-powered solutions (e.g., Maritime Domain Awareness) fuel D&amp;I expansion.
- **Satellite Services Momentum**: Pelican-2 operational, Tanager-1 imaging 300,000 km²/day, and JSAT contract on track.
- **Government Risk & Opportunity**: Geopolitical tensions boost demand, but NASA budget cuts and EOCL uncertainty pose risks.

**【CEO Summary Section】**
- Q1 2026 revenue reached $66.3 million, up 10% YoY, driven by Defense & Intelligence (D&amp;I) sector growth (+20% YoY) and satellite services contracts.
- Achieved $8 million free cash flow, a company-first milestone, with adjusted EBITDA profit of $1.2 million.
- Backlog expanded to $527 million (+140% YoY), with 76% of RPOs covering next 24 months.
- Key wins include an 8-figure European D&amp;I contract and a $95 million Civil Government contract with Carbon Mapper.
- Satellite services progress: Pelican-2 operational, Tanager-1 imaging 300,000 km²/day, and JSAT contract on track.

**【CFO Financial Commentary】**
- Non-GAAP gross margin improved to 59% (vs. 55% YoY), driven by subscription model and cost control.
- Q1 2026 guidance: $265-280 million revenue, 55-57% gross margin, and -$12 million to -$7 million adjusted EBITDA loss.
- CapEx expected at $50-65 million, supporting new fleet development.
- Free cash flow target: under half of 2025 burn, with Q1 positivity signaling sustainable growth.

**【Q&A Key Takeaways】**
- **AI & Partnerships**: Anthropic collaboration focuses on fine-tuning models with Planet data; AI-powered solutions (e.g., Maritime Domain Awareness) are key growth drivers.
- **Government Demand**: Heightened geopolitical tensions boost D&amp;I and Civil Govt demand, with Europe and Asia-Pacific leading regional growth (+30% YoY).
- **Satellite Services Risk**: While JSAT contract supports fleet expansion, reliance on large deals poses execution risk.
- **NASA Budget Uncertainty**: Potential cuts to EOCL program could impact Civil Govt revenue, but Planet's low-cost solutions align with admin priorities.
- **Commercial Stability**: Refocused strategy shows stabilization, with onX expansion and AI-based analytics (e.g., Aircraft Detection Feed) driving engagement.

Planet Labs PBC (PL) Q1 2026 Earnings Call Transcript

- **$230M JSAT Deal Catalyst**: Satellite services contract drives FY27+ growth, with $230M+ revenue over 7 years and global capacity monetization outside Japan.
- **AI-Driven Expansion**: Anthropic partnership targets $100M+ annual revenue from MDA and GMS solutions, leveraging Planet's unique daily scan data archive.
- **Profitability Milestone**: Q4 FY25 marked first adjusted EBITDA profit ($2.4M), with FY26 EBITDA loss halved to -$10M midpoint and positive free cash flow by FY27.
- **Backlog Doubling Potential**: $498.5M backlog (115% QoQ) positions FY27 revenue growth rate to double FY26's 11% YoY pace.

**【CEO Summary Section】**
- **Record Year with Strategic Wins**: FY25 revenue reached $244.4M (+11% YoY), driven by defense & intelligence (+20%), civil gov (+15%), and stabilization in commercial sectors. Key highlights include a $230M satellite services contract with JSAT, first-ever Q4 adjusted EBITDA profit ($2.4M), and a 115% QoQ increase in backlog to $498.5M.
- **Satellite Services Expansion**: Launched 74 satellites, including Pelican 2 (high-res) and Tanager 1 (hyperspectral). The JSAT deal enables Planet to monetize global capacity outside Japan, with upside from selling to other gov & commercial customers.
- **AI & Solutions Growth**: Introduced AI-enabled products like Global Monitoring Service (GMS) and Maritime Domain Awareness (MDA). Partnered with Anthropic to leverage satellite data for foundation models, enhancing customer insights and accessibility.

**【CFO Financial Commentary】**
- **Q4 Financial Highlights**: Revenue $61.6M (+5% YoY), non-GAAP gross margin 65% (vs 58% Q4'24), and $2.4M adjusted EBITDA profit (vs -$11.2M Q4'24). Full-year non-GAAP gross margin 60% (vs 54% FY24), with $10.6M EBITDA loss (-80% YoY).
- **Backlog & Growth Drivers**: RPOs $407.5M (+179% QoQ), 70% covering next 2 years. FY26 guidance: $260-280M revenue, 55-57% gross margin, and -$13M to -$7M EBITDA loss. Capital expenditures $50-65M, with peak CapEx in FY26 to support Pelican & Tanager fleets.
- **Cash Flow Outlook**: Expect 50% reduction in cash burn YoY, targeting positive free cash flow within 24 months. JSAT deal contributes $230M over 7 years, with upfront payments supporting working capital.

**【Q&A Key Themes】**
- **Cash Flow Bridge**: FY26 cash burn halved vs FY25, driven by cost control and JSAT's front-loaded payments. Free cash flow positive by FY27 via operational efficiency and fleet monetization.
- **AI Commercialization**: Anthropic partnership focuses on MDA and GMS solutions, with potential for $100M+ annual revenue from AI-enabled products. Early wins include Bayer and Syngenta enterprise licenses.
- **Satellite Services Expansion**: Actively pursuing 3-5 similar contracts with gov & commercial partners, targeting $100M+ annual revenue from satellite services by FY27.
- **Customer Strategy**: Shift to large, multi-year contracts (89% of ACV on >1yr deals) with 107% NDRR. Smaller customers now served via self-serve platform, reducing sales costs while maintaining 97% recurring revenue mix.

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