Planet Labs Shares Jump After Q2 Results Beat Expectations

Planet Labs PBC (NYSE:PL) shares rose 14.1% in pre-market trading after the company reported fiscal second-quarter 2027 results that exceeded analyst expectations for revenue and adjusted earnings.

Quarterly revenue reached a record $116.1 million, an increase of 58% from the same period a year earlier and above the consensus estimate of approximately $104.5 million. Adjusted earnings per share came in at $0.02, compared with analyst expectations for a loss of $0.02 per share.

The quarter marked Planet Labs’ first period of non-GAAP profitability as a publicly traded company.

Defense and Intelligence Revenue Rises

Revenue from the defense and intelligence segment increased by more than 90% year over year and accounted for approximately 70% of total quarterly sales.

Adjusted EBITDA was $13.9 million, compared with analyst estimates of around $2 million. The company also reported a net dollar retention rate of 109%.

Alongside its quarterly results, Planet Labs announced a seven-figure, one-year agreement with an undisclosed European defense and intelligence customer.

Planet Labs Raises FY2027 Revenue Guidance

Planet Labs increased its full-year fiscal 2027 revenue forecast to between $430 million and $441 million, representing expected year-over-year growth of approximately 40% to 43%.

The company also established its first full-year target for positive adjusted EBITDA.

The raised annual outlook followed the second-quarter performance, although the company’s guidance for the third quarter was below analyst expectations.

Planet Labs forecast Q3 revenue of between $101 million and $105 million, compared with analyst estimates of approximately $118 million. The company also expects adjusted EBITDA to return to a loss during the quarter.

Shares Recover After Initial Decline

Planet Labs shares had fallen approximately 8% during Thursday’s regular session as investors assessed the company’s third-quarter guidance.

The shares subsequently reversed direction in pre-market trading following the release of the quarterly results and updated full-year outlook.

The broader U.S. equity market was higher, with the Nasdaq gaining 0.5% and the S&P 500 rising 0.1%.

Planet Labs shares traded at $20.94 in pre-market activity, compared with a previous close of $18.30.

Planet Labs stock price