Planet Labs Q2 revenue beats estimates as traction in satellite services increases

Planet Labs PBC

03/09/2026 21:22

Overview
US satellite imagery provider's Q2 revenue rose 58% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company raised $120 mln from stock sales, boosting cash and investments to $865 mln

Outlook
Planet Labs sees Q3 revenue between $101 mln and $105 mln
Company expects full-year revenue between $430 mln and $441 mln
Planet Labs expects full-year adjusted EBITDA profit between $3 mln and $10 mln

Result Drivers
SATELLITE SERVICES DEMAND - Co said increased traction in satellite services and expanding pipeline contributed to record revenue
OPERATIONAL EXECUTION - Co pointed to successful satellite launches and expansion of Berlin manufacturing facility as supporting growth

Company press release: ID:nBwbVRf6sa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$116.05 mln
$104.12 mln (10 Analysts)
Q2 Adjusted EPS
 
$0.02
 
Q2 Loss Per Share
 
$0.03
 
Q2 Net Loss
 
$9.35 mln
 
Q2 Gross Margin
 
57.00%
 
Q2 Adjusted Gross Margin
 
59.00%
 
Q2 Gross Profit
 
$65.63 mln
 
Q2 Operating Expenses
 
$79.14 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for Planet Labs PBC is $44.50, about 122.6% above its September 2 closing price of $19.99

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)