Planet Labs Reports Record Q2 Revenue of $116 Million with Strong Growth
Planet Labs (PL) reported record revenue of $116 million for the second quarter of fiscal year 2027, representing a strong 58% year-over-year growth. The company attributed this performance to successful execution in satellite services and continued momentum in its Data and Solutions business. Non-GAAP gross margin reached 59%, exceeding expectations and highlighting the scalability of Planet's business model. The CEO emphasized that for the fourth consecutive quarter, Planet exceeded the Rule of 40—a metric combining revenue growth rate with adjusted EBITDA margin—showcasing both rapid expansion and profitability. The company also completed commissioning on its first sovereign Earth observation satellite for the Swedish Armed Forces and launched next-generation satellites as part of ongoing innovation efforts. Planet's earnings call included forward-looking statements, cautioning that actual results may differ due to various risks outlined in their SEC filings.
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