Planet Labs PBC Reports Record Q2 Revenue, Raises Fiscal 2027 Guidance
Planet Labs PBC (NYSE:PL) reported record second-quarter revenue of $116 million in fiscal 2027, representing a year-over-year increase of approximately 58%. The growth was driven by strong performance from satellite services and defense and intelligence customers, which saw more than 90% annual revenue growth. Non-GAAP gross margin reached 59%, exceeding expectations, while adjusted EBITDA turned profitable for the quarter. The company raised its full-year fiscal 2027 guidance to $430 million–$441 million in revenue and $3 million–$10 million in adjusted EBITDA. Planet also plans capital expenditures of $100 million–$115 million for manufacturing expansion and next-generation satellite development, including the Pelican and Owl fleets. Planet reported a remaining performance obligation of approximately $753 million at quarter-end and identified over $4 billion in potential satellite services opportunities, with more than 25% expected to materialize soon. New government contracts include an $8 million deal with NGA and a possible €25 million contract from the German defense sector.
Topics: defense_and_intelligence_sales guidance_update revenue_growth satellite_services