SEC 10Q

Planet Labs Q2 FY2027 Revenue Surges 14% to $66.2M, Net Loss Narrows to $28.5M, Beating Expectations

Planet Labs delivered a solid Q2 FY2027, with revenue of $66.2 million beating consensus estimates of $64.5 million by 2.6%. The year-over-year growth of 14% was fueled by strong demand from defense and intelligence agencies, which now account for over 60% of revenue. The company's focus on cost discipline is evident: operating expenses grew only 8% while revenue grew 14%, leading to a 410 basis point improvement in gross margin to 51%. Net loss per share came in at -$0.07, narrowing from -$0.09 a year ago and beating the consensus of -$0.08 by $0.01. Management raised full-year revenue guidance to $260-265 million (from $255-260 million) and reiterated a path to positive adjusted EBITDA by Q4 FY2027. Cash burn improved to $12 million per quarter, down from $18 million in the prior year, extending the runway to 18 months. The company also announced a $50 million contract with a NATO member for maritime surveillance, underscoring the strategic value of its data. Risks remain, including the need to scale the Pelican constellation on schedule and the competitive landscape, but the current momentum suggests a favorable near-term outlook.

Ticker

PL

Form

10-Q