Planet Labs Reports Strong Q2 Earnings with Revenue Growth Driven by Satellite Services
Planet Labs (PL) reported second-quarter fiscal year 2027 results showing significant revenue growth driven primarily by satellite services and Data & Solutions. The company achieved $116.1 million in revenue, a 58% increase from the prior year, with non-GAAP gross margin reaching 59%, exceeding expectations due to scalable infrastructure improvements. Key highlights include D&I segment revenue growing at 90% YoY and EMEA region revenue surging by 130%. The company also reported a $120 million ATM program raise and strong cash reserves of $865.4 million, up 219% year-over-year. Management provided full-year guidance for revenue between $430–$441 million with Q3 expectations at $101–$105 million. Despite positive financials, CFO Ashley Whitfield Johnson warned of potential variability in point-in-time revenue recognition as the company scales its satellite services business. CEO William Marshall also noted challenges in the launch market due to high demand for rideshare missions.
Tickers: $PL
Topics: Adjusted EBITDA backlog cash reserves Data and Solutions EMEA growth growth revenue satellite services