Planet Labs sells satellite imagery, geospatial data and analysis software to businesses, researchers and public agencies. Its Earth observation services help customers monitor changes in land use, infrastructure and natural resources, while tasking lets users request imagery of specific places. Customers access data through subscriptions, web tools and APIs, and can combine imagery with analytic feeds in their own workflows. The company also offers dedicated satellite capacity and constellation services, extending its business beyond image licensing to tailored observation systems. Founded in 2010, Planet Labs is headquartered in San Francisco, California.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2010
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Planet Labs reported record revenue of $116 million for fiscal Q2 2027, but most of the beat came from a single type of contract. The stock has still lost 55% in six months, while the S&P 500 gained 12.6%. The largest portion came from delivering the first Pelican satellite to the Swedish Armed Forces. Planet books such satellite services revenue at the point of handover, and it made up 12% of revenue, up from 1% a year earlier. Executives expect uneven quarters and shifting gross margins. Planet guides fiscal Q3 revenue at $101 million to $105 million, with gross margin of 56% to 58%, down from 59%. The company has identified over $4 billion of satellite services opportunities, including about $1 billion in near-term prospects. The stock trades at 14.4 times sales, against 3.1 for the S&P 500.
The European Space Agency (ESA) has selected Planet's subsidiary Sinergise Solutions to build the Slovenia Space Resilience Node, a 12-month pilot project. It will automate the link between satellite change detection and high-resolution imaging for Slovenia's Administration for Civil Protection and Disaster Relief. Working with software firm Lucis, the system will analyse open Copernicus data and PlanetScope imagery. When it detects anomalies or pre-set thresholds, it will alert users and trigger a high-resolution tasking request, including through Planet's Pelican fleet. Imagery will appear in the responder's map view within hours. The prototype will first target wildfire management across Slovenia's 20,000 square kilometres. It could later track floods, landslides, and other hazards. Planet's Diego Vanelli said Slovenia is an ideal pilot and the design can serve as a blueprint for civil agencies across Europe.
Planet Labs is moving beyond selling satellite imagery. It now builds and operates custom satellites for government clients, and delivery of that hardware is lifting its sales. In fiscal Q2 2027, 12% of revenue was booked on delivery, against 1% a year earlier. The quarter included the first Pelican satellite built for the Swedish Armed Forces. Revenue rose about 58% to $116 million, while defence and intelligence sales grew more than 90%. Management cited more than $4 billion of possible satellite orders, though signed contracts are growing slowly. Backlog stood at about $815 million, up about 11%. The company still loses money: its net loss over the past twelve months equalled 95.1% of revenue. It guided fiscal Q3 revenue to $101 million-$105 million, and the stock has fallen 50% in six months.
Planet Labs announced its prototype satellite for Alphabet's Google has launched into orbit aboard SpaceX's Transporter-18 rideshare mission. The satellite is part of Google's Project Suncatcher, which tests Tensor Processing Units in space. This marks Planet Labs' 40th successful launch, bringing its total delivered satellites to 718. The company's shares rose 8.43% on Friday following the announcement. Planet Labs operates an Earth-imaging satellite constellation and provides Space Infrastructure as a Service. In its second quarter, Planet Labs reported record revenue of $116.1 million, up 58.1% year-over-year, though it remains loss-making with $0.03 per share losses. The company raised its fiscal 2027 revenue guidance to between $430 million and $441 million. Analysts rate the stock a "Moderate Buy" with a mean target price indicating 102.4% potential upside.
Planet Labs stock has fallen 49% in three months, trading at 16.6 times sales compared to 3.0 for the S&P 500. The satellite imagery company's revenue grew 58% year-on-year in fiscal Q2 2027, driven primarily by defense and intelligence customers, which saw over 90% growth. A significant portion of Q2's revenue came from delivering the first Pelican satellite to Swedish Armed Forces. This represented 12% of quarterly revenue, up from 1% a year earlier. Such sales are booked immediately upon delivery rather than through subscriptions. However, Planet's contracted work grew only 9% year-on-year at Q2's end, far slower than revenue growth. Management attributes this to delivering on larger contracts whilst exploring new markets with shorter pilot deals. The company has identified over $4 billion in potential opportunities, with more than 25% considered near-term. Planet forecasts fiscal Q3 revenue of $101 million to $105 million.