Planet Labs (PL)
Planet Labs (PL) operates one of the largest fleets of Earth-observation satellites and sells the imagery, monitoring, and AI-enabled analytics derived from it on subscription. In ETFpedia it represents the U.S. Space Tech concept as a downstream space-data company, the data-and-analytics layer rather than launch or hardware, with recurring, software-like revenue.
| Ticker | PL |
|---|---|
| Exchange | NYSE |
| Sector | Earth Observation · Satellite Data & Analytics |
| Country | United States |
| Wikidata | Q17085620 |
| Last updated | 2026-06-04 |
Next event:Next earnings · fiscal Q2 2027, estimated · Estimated for fiscal Q2 2027 (quarter ended Jul 31, 2026); confirm on Planet IR. Last report: fiscal Q1 2027 on 2026-06-04. (source)
Latest reported quarter:Fiscal Q4 2026 / full year (ended Jan 31, 2026) (reported2026-03-19)
Planet Labs posted record fiscal Q4 2026 revenue of $86.8 million, up 41% year over year, and full-year FY2026 revenue of $307.7 million, up 26%. FY2026 was its first full year of non-GAAP profitability with adjusted EBITDA of $15.5 million, though it still reported a GAAP net loss for the year of $246.9 million.
| Q4 FY2026 revenue | $86.8M+41%YoY · Record quarter; fiscal year ends Jan 31 |
|---|---|
| FY2026 revenue | $307.7M+26%YoY · Record full year |
| FY2026 GAAP net loss | $(246.9)M · Q4 EPS $(0.48), impacted by a $122.6M warrant revaluation |
| FY2026 adjusted EBITDA | $15.5M · First full year of non-GAAP profitability |
| Backlog | Over $900M+~79%YoY |
Guidance:Full-year FY2027
| Revenue | $415M-$440M |
|---|
FY2027 revenue guidance issued with the Q4/FY2026 release (fiscal year ending Jan 31, 2027).
Recent & upcoming events
- · Record Q4 and FY2026 results.Q4 revenue $86.8M (+41%) and full-year revenue $307.7M (+26%); FY2026 was the first full year of non-GAAP profitability with $15.5M adjusted EBITDA, and backlog grew about 79% to over $900M. (source)
- · Google R&D partnership and Sweden win.Management cited an R&D partnership with Google to explore data centers in space, a satellite-services agreement with Sweden, and 40 satellites launched during the year. (source)
Figures are from the Q4/FY2026 IR release (fiscal year ended Jan 31, 2026); the FY2026 GAAP net loss reflects non-cash items including a warrant revaluation. The fiscal Q1 2027 earnings date is from a market-data calendar.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Planet Labs do?
Planet Labs runs a fleet of small Earth-observation satellites that image the planet’s landmass on a regular cadence, then sells access to that imagery and the analytics built on top of it. Customers across government, defense, agriculture, mapping, forestry, and finance subscribe to monitoring feeds rather than buying one-off pictures, which gives Planet a recurring, software-like revenue base. The company has been pushing into AI-enabled analytics that turn raw imagery into answers (where crops are stressed, where ships are moving, how a coastline is changing) and even an R&D partnership with Google to explore data centers in space (Planet Q4/FY2026). Note Planet’s calendar: its fiscal year ends January 31, so fiscal 2026 covers the year ended January 31, 2026.
“Planet had a transformational year. We delivered record revenue, with Q4 growing 41% year-on-year, and ended the year with $900 million of backlog, representing 79% growth year-on-year. Just as satellite services were transformative last year, we expect AI to be transformative this year.”
Why is Planet Labs a U.S. Space Tech company?
The U.S. Space Tech theme splits into upstream (building and launching hardware) and downstream (selling what space enables). Planet is a clear downstream play: it monetizes data from its own satellites through subscriptions, so its economics look more like a software company than a launch provider. That balances the theme against its more capital-heavy names. At the end of fiscal Q4 2026, roughly 85% of Planet’s revenue came from annual or multi-year contracts, and backlog grew about 79% year over year to over $900 million (Planet Q4/FY2026), giving the theme a recurring-revenue anchor.
What did Planet Labs report most recently?
In fiscal Q4 2026 (the quarter ended January 31, 2026), Planet posted record revenue of $86.8 million, up 41% year over year, capping full-year FY2026 revenue of $307.7 million, up 26% (Planet Q4/FY2026). FY2026 was Planet’s first full year of non-GAAP profitability, with adjusted EBITDA of $15.5 million, a non-GAAP measure. On a GAAP basis the company still lost money: a FY2026 net loss of $246.9 million, and fiscal Q4 GAAP EPS of $(0.48) that was weighed down by a $122.6 million non-cash warrant revaluation. So the honest picture is a company that has turned cash-generative on an adjusted basis while remaining GAAP loss-making.
What is Planet Labs’ guidance?
Alongside the Q4/FY2026 release, Planet issued full-year FY2027 revenue guidance of $415 million to $440 million (the fiscal year ending January 31, 2027), implying continued strong growth off the $307.7 million FY2026 base (Planet Q4/FY2026). Management framed FY2027 as a year of leaning into investment, particularly in AI-enabled analytics, so revenue growth may come alongside continued spending rather than rapid GAAP profit. Planet is scheduled to report fiscal Q1 2027 results after the close on June 4, 2026 (Planet IR).
What are the risks for Planet Labs?
- Still GAAP loss-making. Despite positive adjusted EBITDA, Planet reported a $246.9 million GAAP net loss in FY2026, partly from non-cash items like warrant revaluation.
- Government and contract concentration. A large share of revenue is tied to government and large-customer contracts whose renewals and budgets can move.
- Capital intensity of the fleet. Maintaining and refreshing a satellite constellation requires ongoing capital, even with a software-like revenue model.
- Competition and pricing. The Earth-observation and geospatial-analytics market is competitive, including free public imagery and other commercial providers, which can pressure pricing.
Related securities, concepts & terms
- U.S. Space Techparent
- AST SpaceMobile (ASTS)sibling
Related indices & ETFs
- Akros U.S. Space Tech Index · AkrosPlanet Labs is a representative constituent of the U.S. Space Tech concept index.
Frequently asked questions about Planet Labs
What does Planet Labs do?
Planet Labs operates one of the largest fleets of Earth-observation satellites and sells the imagery and analytics derived from it. Its satellites photograph the entire Earth's landmass regularly, and customers in government, agriculture, mapping, and industry subscribe to that imagery plus monitoring and increasingly AI-enabled analytics. The business is a downstream space-data company rather than a launch or hardware provider (Planet Q4/FY2026).
Why is Planet Labs part of the U.S. Space Tech theme?
Planet represents the downstream, data-and-analytics layer of the U.S. Space Tech theme. Instead of selling launch or satellites, it monetizes data from its own fleet through recurring subscriptions, with roughly 85% of revenue from annual or multi-year contracts at the end of Q4 FY2026 (Planet Q4/FY2026). That recurring, software-like model balances the theme's more capital-heavy launch and hardware names.
What is Planet Labs' fiscal year, and what was its latest revenue?
Planet's fiscal year ends January 31, so its fiscal 2026 covers the year ended January 31, 2026. It reported record fiscal Q4 2026 revenue of $86.8 million, up 41% year over year, and full-year FY2026 revenue of $307.7 million, up 26% (Planet Q4/FY2026).
Is Planet Labs profitable?
Planet reached its first full year of non-GAAP profitability in FY2026, with adjusted EBITDA of $15.5 million, but it is not yet GAAP-profitable: it reported a FY2026 GAAP net loss of $246.9 million, and fiscal Q4 GAAP EPS of $(0.48) was hit by a $122.6 million non-cash warrant revaluation (Planet Q4/FY2026).
When does Planet Labs report next earnings?
Planet is scheduled to report fiscal Q1 2027 results (the quarter ended April 30, 2026) after market close on June 4, 2026 (Planet IR). It last reported fiscal Q4 and full-year FY2026 results on March 19, 2026, and issued FY2027 revenue guidance of $415 million to $440 million.
Sources & references
- Planet Reports Financial Results for Fourth Quarter and Full Fiscal Year 2026 · Planet Labs PBC / Business Wire, 2026-03-19
- Planet Labs PBC · FY2026 annual report (Form 10-K filing index) · Planet Labs PBC / SEC EDGAR, 2026-03-19
- Planet Labs PBC · Q3 FY2026 results (Form 8-K, Exhibit 99.1) · Planet Labs PBC / SEC EDGAR, 2025-12-10
- Planet Labs PBC · investor relations events (earnings dates and webcasts) · Planet Labs PBC, 2026-06-04