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Planet Labs PBC
(NYSE:PL)
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Rating:55Neutral
Price Target:
$28.00
▼(-27.23% Downside)
Action:Reiterated
Date:06/06/26
The score is driven mainly by mixed financial fundamentals: improving cash generation and steady revenue growth are outweighed by very large net losses and higher leverage. A strong earnings-call outlook (raised revenue guidance, backlog/RPO strength, and targets for EBITDA/FCF improvement) supports the rating, but weak technicals and loss-driven valuation metrics limit upside in the near term.
Positive Factors
High Recurring Revenue & Retention
Very high recurring ACV and strong net dollar retention indicate durable revenue streams and successful account expansion. Multi‑year contracts reduce churn risk and provide predictable cash inflows, supporting scaling of analytics services and long‑term customer lifetime value.
Negative Factors
Persistent Large Net Losses
Despite top‑line growth and improving cash, very large GAAP net losses reflect structural below‑the‑line items and impede return generation. Continued deep losses constrain retained earnings, complicate path to sustained profitability and heighten sensitivity to adverse shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
High Recurring Revenue & Retention
Very high recurring ACV and strong net dollar retention indicate durable revenue streams and successful account expansion. Multi‑year contracts reduce churn risk and provide predictable cash inflows, supporting scaling of analytics services and long‑term customer lifetime value.
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
$9.65B
Dividend YieldN/A
Average Volume (3M)14.44M
Price to Earnings (P/E)―
Beta (1Y)2.42
Revenue Growth34.15%
EPS Growth-216.84%
CountryUS
Employees810
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-1.14
Shares Outstanding332,908,720
10 Day Avg. Volume19,660,220
30 Day Avg. Volume14,440,992
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 Cap0.99
Enterprise Value/Revenue28.35
Enterprise Value/Gross Profit51.07
Enterprise Value/Ebitda-29.51
Forecast
1Y Price Target
$42.56Price Target Upside10.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-0.11
Revenue Forecast (FY)$436.31M
Planet Labs PBC Business Overview & Revenue Model
Company Description
Planet Labs PBC is dedicated to the creation, deployment, and management of extensive satellite constellations. Its core mission is to provide frequent, worldwide geospatial data, which customers can access through a specialized online platform. T...
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:Jun 04, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Sep 14, 2026
Earnings Call Sentiment Positive
The call presented a strong growth narrative: record revenue (+42% YoY), sizable backlog and RPO expansions, robust Defense & Intelligence momentum, expanded product capabilities (satellite launches, SuperRes, AI beta) and an improved cash position. Near-term pressures include modest margin compression from satellite services and investments, a small adjusted EBITDA loss this quarter, negative free cash flow in Q1 and operational considerations around imagery restrictions and launch/supply execution. Management raised FY revenue guidance and reiterated plans for GAAP‑adj profitability and positive annual free cash flow, indicating confidence in scaling despite elevated near-term investments.Positive Updates
Record Revenue and Strong Top-Line Growth
Generated record Q1 revenue of $94.0M, representing ~42% year-over-year growth; raised full-year FY27 revenue guidance to $425M–$441M (~41% growth at midpoint).
Negative Updates
Gross Margin Pressure from Satellite Services and Investments
Q1 non‑GAAP gross margin was 56% (down from 59% in the comparable prior period), attributed to investments supporting satellite services contracts, recent launches and AI-enabled partner solutions; Q2 gross margin guidance is 52%–55% (a modest step down).
Read all updates
Q1-2027 Updates
Positive
Negative
Record Revenue and Strong Top-Line Growth
Generated record Q1 revenue of $94.0M, representing ~42% year-over-year growth; raised full-year FY27 revenue guidance to $425M–$441M (~41% growth at midpoint).
Read all positive updates
Company Guidance
Planet provided Q2 and full‑year FY27 guidance anchored by a strong Q1 and sizable backlog: Q2 revenue is guided to $102–107M (≈42% YoY growth at the midpoint) with non‑GAAP gross margin of 52–55%, adjusted EBITDA of breakeven to $5M, and CapEx of $21–27M; full‑year revenue is raised to $425–441M (≈41% growth at the midpoint) with non‑GAAP gross margin of 52–54%, FY27 adjusted EBITDA of breakeven to $10M, planned CapEx of $80–95M, an expectation to be free‑cash‑flow positive on an annual basis, and a goal to deliver Rule of 40 for the year. Management cited Q1 results (revenue $94M, 42% YoY; non‑GAAP gross margin 56%; adjusted EBITDA loss $1M), cash of ~$731M, RPO ~$816M (up ~80% YoY) and backlog ~$906M (up ~72% YoY) as supporting this outlook.Planet Labs PBC Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
41
Neutral
Cash Flow
56
Neutral
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 335.61M | 307.73M | 244.35M | 220.70M | 191.26M | 131.21M |
| Gross Profit | 186.28M | 172.49M | 139.72M | 112.95M | 94.01M | 48.22M |
| EBITDA | -322.38M | -196.94M | -57.07M | -92.06M | -117.79M | -81.14M |
| Net Income | -373.10M | -246.86M | -123.20M | -140.51M | -161.97M | -137.12M |
Balance Sheet | ||||||
| Total Assets | 1.25B | 1.15B | 633.80M | 702.00M | 752.72M | 821.44M |
| Cash, Cash Equivalents and Short-Term Investments | 731.73M | 640.73M | 228.67M | 298.91M | 408.76M | 490.76M |
| Total Debt | 488.04M | 462.48M | 21.61M | 24.93M | 22.03M | 0.00 |
| Total Liabilities | 807.73M | 957.25M | 192.51M | 183.98M | 176.62M | 173.20M |
| Stockholders Equity | 443.70M | 188.43M | 441.29M | 518.02M | 576.10M | 648.25M |
Cash Flow | ||||||
| Free Cash Flow | 47.16M | 57.65M | -58.67M | -93.12M | -86.69M | -57.14M |
| Operating Cash Flow | 132.46M | 134.36M | -14.37M | -50.71M | -73.93M | -42.21M |
| Investing Cash Flow | -364.44M | -393.12M | 57.91M | -33.59M | -242.26M | -25.15M |
| Financing Cash Flow | 460.82M | 357.05M | -15.54M | -1.60M | 7.86M | 489.18M |
Planet Labs PBC Technical Analysis
Negative
38.48
Price Trends
37.66
Negative
32.58
Negative
24.35
Positive
Market Momentum
-3.68
Positive
33.96
Neutral
16.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL, the sentiment is Negative. The current price of 38.48 is above the 20-day moving average (MA) of 33.85, above the 50-day MA of 37.66, and above the 200-day MA of 24.35, indicating a neutral trend. The MACD of -3.68 indicates Positive momentum. The RSI at 33.96 is Neutral, neither overbought nor oversold. The STOCH value of 16.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PL.
Planet Labs PBC Risk Analysis
Planet Labs PBC disclosed 71 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% | |
55 Neutral | $9.65B | -23.66 | -105.29% | ― | 34.15% | -216.84% | |
55 Neutral | $48.94B | -255.18 | -12.26% | ― | 45.83% | 19.99% | |
51 Neutral | $918.82M | -9.69 | -98.63% | ― | -8.93% | 1.81% | |
50 Neutral | $655.17M | 9.87 | 39.92% | ― | -36.17% | ― | |
50 Neutral | $2.23B | ― | -25.84% | ― | 12.59% | -27.81% |
* Industrials Sector Average
PL
Planet Labs PBC
27.07
20.97
343.77%
BKSY
BlackSky Technology
24.76
4.18
20.31%
SPIR
Spire Global
16.29
4.39
36.89%
RKLB
Rocket Lab USA
84.54
48.77
136.34%
VOYG
Voyager Technologies, Inc. Class A
29.26
-9.99
-25.45%
Planet Labs PBC Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Planet Labs Launches $1.5 Billion ATM Stock Program
Neutral
Jun 5, 2026
On June 5, 2026, Planet Labs PBC entered into an Equity Distribution Agreement with a syndicate of major banks to establish an at-the-market offering program for up to $1.5 billion of its Class A common stock. The program allows shares to be sold ...
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...
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.