PL

MKT CAP:$12B

Planet Labs PBC

Market Cap

$12B

Industrials·Aerospace & Defense·🇺🇸 United States·NYSE

Industrials·Aerospace·🇺🇸·NYSE

Stock Price

$39.17+$18.76 (+91.92%)

Apr 24, 2026

Company Details

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consort...

CEO

William Spencer Marshall

IPO Date

Apr 26, 2021

Website

www.planet.com

Key Metrics TTM

Revenue

$308M

+25.9% YoY

Net Income

-$247M

EPS (Diluted)

-$0.79

Free Cash Flow

$56M

Revenue / Share

$0.97

Gross Margin

56.1%

Operating Margin

-30.9%

Net Margin

-80.2%

FCF Margin

18.3%

P/S

37.4x

P/E

—

Earnings Reports

FY 2026

Mar 23, 2026

$308M+25.9%EPS -$0.80

Q4 2026

Mar 23, 2026

$87M+41.1%EPS -$0.48

Q3 2026

Dec 10, 2025

$81M+32.6%EPS -$0.19

Q2 2026

Sep 8, 2025

$73M+20.1%EPS -$0.07

Q1 2026

Jun 4, 2025

$66M+9.6%EPS -$0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$40M	$16M	-$48M
Q2 23	$48M	$23M	-$43M
Q3 23	$50M	$25M	-$43M
Q4 23	$53M	$29M	-$43M
Q1 24	$53M	$28M	-$45M
Q2 24	$54M	$26M	-$43M
Q3 24	$55M	$26M	-$48M
Q4 24	$59M	$32M	-$34M
Q1 25	$60M	$32M	-$35M
Q2 25	$61M	$32M	-$40M
Q3 25	$61M	$38M	-$23M
Q4 25	$62M	$38M	-$19M
Q1 26	$66M	$37M	-$23M
Q2 26	$73M	$42M	-$18M
Q3 26	$81M	$47M	-$18M
Q4 26	$87M	$47M	-$36M

Valuation

Quarter	P/S	P/E
Q1 23	9.5x	—
Q2 23	9.2x	—
Q3 23	8.1x	—
Q4 23	6.7x	—
Q1 24	5.4x	—
Q2 24	5.1x	—
Q3 24	2.8x	—
Q4 24	3.2x	—
Q1 25	2.2x	—
Q2 25	3.0x	—
Q3 25	2.8x	—
Q4 25	7.3x	—
Q1 26	4.0x	—
Q2 26	7.3x	—
Q3 26	14.2x	—
Q4 26	23.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$7M	-$10M
Q2 23	-$22M	-$27M
Q3 23	-$30M	-$33M
Q4 23	-$15M	-$17M
Q1 24	-$31M	-$38M
Q2 24	$10M	-$7M
Q3 24	-$23M	-$32M
Q4 24	-$7M	-$17M
Q1 25	-$4M	-$16M
Q2 25	-$8M	-$29M
Q3 25	$4M	-$5M
Q4 25	-$6M	-$19M
Q1 26	$17M	$7M
Q2 26	$68M	$49M
Q3 26	$29M	$650.0K
Q4 26	$21M	-$951.0K

Capital Expenditures

Quarter	CapEx
Q1 23	$4M
Q2 23	$4M
Q3 23	$3M
Q4 23	$2M
Q1 24	$7M
Q2 24	$17M
Q3 24	$9M
Q4 24	$10M
Q1 25	$11M
Q2 25	$21M
Q3 25	$9M
Q4 25	$13M
Q1 26	$10M
Q2 26	$18M
Q3 26	$28M
Q4 26	$22M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+25.6%	+74.9%
Q2 23	+59.3%	+66.6%
Q3 23	+56.8%	+53.9%
Q4 23	+42.6%	+1.4%
Q1 24	+31.3%	+10.9%
Q2 24	+11.0%	+6.5%
Q3 24	+11.4%	+11.8%
Q4 24	+11.1%	-3.0%
Q1 25	+14.7%	-2.4%
Q2 25	+13.6%	+3.7%
Q3 25	+10.6%	-18.8%
Q4 25	+4.6%	-12.8%
Q1 26	+9.6%	-6.3%
Q2 26	+20.1%	-9.3%
Q3 26	+32.6%	+18.7%
Q4 26	+41.1%	+51.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$20M	49.4%
Q2 23	$21M	42.5%
Q3 23	$19M	39.1%
Q4 23	$16M	29.6%
Q1 24	$15M	29.1%
Q2 24	$17M	31.0%
Q3 24	$13M	22.7%
Q4 24	$13M	21.3%
Q1 25	$13M	21.6%
Q2 25	$12M	18.9%
Q3 25	$12M	19.3%
Q4 25	$12M	19.5%
Q1 26	$13M	18.9%
Q2 26	$13M	18.3%
Q3 26	$13M	16.6%
Q4 26	$16M	17.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$25M	$21M	$19M
Q2 23	$27M	$20M	$19M
Q3 23	$28M	$21M	$19M
Q4 23	$32M	$20M	$20M
Q1 24	$28M	$22M	$23M
Q2 24	$27M	$21M	$22M
Q3 24	$33M	$20M	$21M
Q4 24	$28M	$18M	$20M
Q1 25	$26M	$19M	$21M
Q2 25	$27M	$21M	$24M
Q3 25	$25M	$18M	$17M
Q4 25	$23M	$19M	$16M
Q1 26	$23M	$20M	$16M
Q2 26	$24M	$18M	$18M
Q3 26	$27M	$19M	$19M
Q4 26	$32M	$31M	$20M

Revenue Segments

Quarter	Reportable Segment
Q2 26	$73M

Revenue by Geography

Quarter	Canada	Norway	Other Geographical Areas, Not Separately Disclosed	United States	Non-US	Asia Pacific And Japan	Emea	Latin America	North America
Q1 23	$4M	$2M	$16M	$19M	—	—	—	—	—
Q2 23	—	$2M	$21M	$26M	—	—	—	—	—
Q3 23	—	$3M	$19M	$27M	—	—	—	—	—
Q1 24	—	—	$30M	$23M	—	—	—	—	—
Q2 24	—	—	$27M	$27M	—	—	—	—	—
Q3 24	—	—	$32M	$23M	—	—	—	—	—
Q1 25	—	—	$31M	$29M	—	—	—	—	—
Q2 25	—	—	—	$29M	$32M	—	—	—	—
Q3 25	—	—	—	$25M	$36M	—	—	—	—
Q2 26	—	—	—	—	—	$16M	$23M	$3M	$31M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$484M	$0	$484M
Q2 23	$262M	$196M	$458M
Q3 23	$199M	$226M	$425M
Q4 23	$182M	$227M	$409M
Q1 24	$141M	$235M	$376M
Q2 24	$119M	$249M	$368M
Q3 24	$102M	$213M	$315M
Q4 24	$84M	$215M	$299M
Q1 25	$107M	$168M	$276M
Q2 25	$148M	$101M	$249M
Q3 25	$139M	$103M	$242M
Q4 25	$118M	$104M	$222M
Q1 26	$133M	$93M	$226M
Q2 26	$187M	$90M	$278M
Q3 26	$443M	$234M	$677M
Q4 26	$230M	$411M	$641M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	264M	+48.1%	+460.3%
Q2 23	266M	+0.8%	+464.8%
Q3 23	268M	+0.7%	+468.4%
Q4 23	270M	+0.8%	+51.5%
Q1 24	272M	+0.8%	+3.1%
Q2 24	275M	+1.0%	+3.3%
Q3 24	284M	+3.3%	+6.1%
Q4 24	287M	+0.8%	+6.1%
Q1 25	288M	+0.6%	+5.8%
Q2 25	290M	+0.7%	+5.6%
Q3 25	293M	+1.0%	+3.2%
Q4 25	296M	+1.1%	+3.5%
Q1 26	300M	+1.3%	+4.2%
Q2 26	304M	+1.3%	+4.7%
Q3 26	309M	+1.7%	+5.4%
Q4 26	317M	+2.6%	+7.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$50.2K	800
Q2 23	$60.6K	800
Q3 23	$62.1K	800
Q4 23	$48.2K	1K
Q1 24	$47.9K	1K
Q2 24	$48.9K	1K
Q3 24	$50.3K	1K
Q4 24	$49.9K	1K
Q1 25	$51.2K	1K
Q2 25	$51.8K	1K
Q3 25	$51.9K	1K
Q4 25	$63.5K	970
Q1 26	$68.3K	970
Q2 26	$75.7K	970
Q3 26	$83.8K	970
Q4 26	$86.8K	1K

Revenue / Employee