Planet Labs PBC (PL)
NYSE:PL
Want to see PL full AI Analyst Report?
Top Page
Planet Labs PBC
(NYSE:PL)
Select Model
Select Model
Rating:60Neutral
Price Target:
$44.00
▲(14.35% Upside)
Action:Reiterated
Date:05/05/26
The score is driven by improving cash generation and a strong technical uptrend, plus constructive FY2027 growth/FCF commentary supported by backlog/RPO. These positives are tempered by still-deep net losses and a notably weakened balance sheet with higher leverage, keeping overall risk elevated despite operational progress.
Positive Factors
Cash Generation
Operating cash flow swung strongly positive to $134.4M and free cash flow to $57.6M, demonstrating materially improved cash conversion from subscriptions and services. Durable cash generation reduces near-term financing pressure, funds capex for fleet scaling, and supports reinvestment in product and operations over the coming 2–6 months.
Negative Factors
Persistent GAAP Losses
Despite adjusted-EBITDA progress, GAAP profitability remains weak with net margin around -80% and materially widened losses. Persistent large net losses and negative returns on equity imply reliance on non-operating items or financing; this heightens dilution and constrains the company's path to sustained GAAP profitability absent structural cost or revenue improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Operating cash flow swung strongly positive to $134.4M and free cash flow to $57.6M, demonstrating materially improved cash conversion from subscriptions and services. Durable cash generation reduces near-term financing pressure, funds capex for fleet scaling, and supports reinvestment in product and operations over the coming 2–6 months.
Read all positive factors
Planet Labs PBC Key Performance Indicators (KPIs)
Any
Customer Count
Indicates the total number of customers, reflecting the company's market reach and potential for revenue growth.
Indicates the total number of customers, reflecting the company's market reach and potential for revenue growth.
Data provided by:
The Fly
The FlyPlanet Labs PBC (PL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.41B
Dividend YieldN/A
Average Volume (3M)16.33M
Price to Earnings (P/E)―
Beta (1Y)2.17
Revenue Growth25.94%
EPS Growth-86.84%
CountryUS
Employees810
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.78
Shares Outstanding322,655,240
10 Day Avg. Volume13,368,376
30 Day Avg. Volume16,327,087
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)40.79
Price to Sales (P/S)24.98
P/FCF Ratio133.32
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue44.39
Enterprise Value/Gross Profit79.20
Enterprise Value/Ebitda-133.28
Forecast
1Y Price Target
$36.11Price Target Upside-6.16% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$431.01M
Planet Labs PBC Business Overview & Revenue Model
Company Description
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 Consortium, a ...
How the Company Makes Money
Planet primarily makes money by selling access to its Earth observation data and related software through recurring subscriptions and contracted services. Its key revenue streams typically include: (1) Subscription and licensing revenue for satell...
Planet Labs PBC Earnings Call Summary
Earnings Call Date:Mar 19, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Jun 04, 2026
Earnings Call Sentiment Positive
The earnings call highlighted substantial progress: record revenue growth, first full-year adjusted EBITDA profitability and positive free cash flow, a large and growing backlog/RPO base, major Satellite Services deals, and deepening AI and partner collaborations (NVIDIA, Google). Management is aggressively investing to scale manufacturing and AI capabilities, reflected in elevated CapEx and short-term margin/headline EBITDA pressure. Commercial and Civil segments are softer amid a deliberate shift toward larger government contracts, and timing/contract mix creates some near-term volatility risk. On balance the call emphasized durable demand, meaningful financial improvement, and strong strategic positioning, with near-term trade-offs for longer-term growth.Positive Updates
Record Revenue and Strong Growth
Full-year revenue of $307.7M (reported as $308M), up ~26% year-over-year; Q4 revenue of $86.8M, up ~41% year-over-year. FY2027 revenue guidance raised to $415M–$440M (~39% growth at midpoint).
Negative Updates
Commercial and Civil Revenue Softness
Commercial sector revenue declined year-over-year and Civil Government was flat for the year, impacted in part by the conclusion of Norway's NICFI contract; management acknowledged a near-term shift in focus to large government customers.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Revenue and Strong Growth
Full-year revenue of $307.7M (reported as $308M), up ~26% year-over-year; Q4 revenue of $86.8M, up ~41% year-over-year. FY2027 revenue guidance raised to $415M–$440M (~39% growth at midpoint).
Read all positive updates
Company Guidance
Planet Labs guided Q1 FY2027 revenue of $87.0–$91.0M (≈34% y/y at the midpoint) with non‑GAAP gross margin of 49–51%, adjusted EBITDA of –$6.0––$3.0M, and planned CapEx of $17–$23M; for full FY2027 they forecast revenue of $415–$440M (≈39% growth at the midpoint), non‑GAAP gross margin of 50–52%, adjusted EBITDA of breakeven to $10.0M while targeting Rule of 40, CapEx of $80–$95M, and expect to be free‑cash‑flow positive on an annual basis despite quarter‑to‑quarter variability—backlog was cited at ~ $900M and RPO at ~$852.4M (with ~34–37% applying to the next 12 months), and managers noted the near‑term margin step‑down reflects Satellite Services, AI partner mix, and investments in next‑gen fleets.Planet Labs PBC Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
30
Negative
Cash Flow
62
Positive
| Breakdown | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 307.73M | 244.35M | 220.70M | 191.26M | 131.21M |
| Gross Profit | 172.49M | 139.72M | 112.95M | 94.01M | 48.22M |
| EBITDA | -95.07M | -57.07M | -92.06M | -117.79M | -81.14M |
| Net Income | -246.86M | -123.20M | -140.51M | -161.97M | -137.12M |
Balance Sheet | |||||
| Total Assets | 1.15B | 633.80M | 702.00M | 752.72M | 821.44M |
| Cash, Cash Equivalents and Short-Term Investments | 640.73M | 228.67M | 298.91M | 408.76M | 490.76M |
| Total Debt | 462.48M | 21.61M | 24.93M | 22.03M | 0.00 |
| Total Liabilities | 957.25M | 192.51M | 183.98M | 176.62M | 173.20M |
| Stockholders Equity | 188.43M | 441.29M | 518.02M | 576.10M | 648.25M |
Cash Flow | |||||
| Free Cash Flow | 57.65M | -58.67M | -93.12M | -86.69M | -57.14M |
| Operating Cash Flow | 134.36M | -14.37M | -50.71M | -73.93M | -42.21M |
| Investing Cash Flow | -393.12M | 57.91M | -33.59M | -242.26M | -25.15M |
| Financing Cash Flow | 357.05M | -15.54M | -1.60M | 7.86M | 489.18M |
Planet Labs PBC Technical Analysis
Positive
38.48
Price Trends
28.15
Positive
24.05
Positive
16.94
Positive
Market Momentum
2.60
Negative
63.78
Neutral
77.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL, the sentiment is Positive. The current price of 38.48 is above the 20-day moving average (MA) of 33.86, above the 50-day MA of 28.15, and above the 200-day MA of 16.94, indicating a bullish trend. The MACD of 2.60 indicates Negative momentum. The RSI at 63.78 is Neutral, neither overbought nor oversold. The STOCH value of 77.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PL.
Planet Labs PBC Risk Analysis
Planet Labs PBC disclosed 80 risk factors in its most recent earnings report. Planet Labs PBC reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Planet Labs PBC Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $1.44B | -7.67 | -98.63% | ― | -8.93% | 1.81% | |
60 Neutral | $14.41B | -13.00 | -69.61% | ― | 25.94% | -86.84% | |
60 Neutral | $72.21B | -215.90 | -12.26% | ― | 45.83% | 19.99% | |
57 Neutral | $2.04B | -7.76 | -25.84% | ― | 12.59% | -27.81% | |
53 Neutral | $701.09M | -4.05 | -221.99% | ― | -36.17% | ― |
* Industrials Sector Average
PL
Planet Labs PBC
41.62
37.79
986.68%
BKSY
BlackSky Technology
38.75
26.98
229.23%
SPIR
Spire Global
20.01
8.31
71.03%
RKLB
Rocket Lab USA
124.77
98.97
383.60%
VOYG
Voyager Technologies, Inc. Class A
34.44
-15.06
-30.42%
Planet Labs PBC Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Planet Labs Completes Redemption of Remaining Public Warrants
Positive
May 4, 2026
On May 4, 2026, Planet Labs PBC announced it had completed the redemption of all remaining public warrants to purchase its Class A common stock, which were originally issued as part of its IPO. The company said trading in the public warrants on th...
Business Operations and Strategy
Planet Labs Announces Redemption of Outstanding Public Warrants
Neutral
Mar 27, 2026
On March 27, 2026, Planet Labs PBC announced it will redeem all of its outstanding public warrants to purchase Class A common stock that were originally issued as part of its IPO units. The move follows satisfaction of the stock-price condition in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.