Planet Labs PBC is set to release fiscal second-quarter earnings after the market close on Thursday, with analysts projecting revenue of $104.5 million, a 42% increase from the same period last year and an 11% rise from the prior quarter.
The company, headquartered in San Francisco, is expected to report a loss of 2.5 cents per share, an improvement from the 3-cent loss recorded in the first quarter. Revenue estimates have remained stable over the past two months and week, while earnings per share projections have declined by 6.65% during the same period.
Planet Labs’ stock, currently trading near $20, carries a market capitalization of $7.1 billion. Analysts maintain a consensus "Buy" rating, with a mean price target of $38.73, implying a potential 94% upside from current levels. Berenberg initiated coverage on Tuesday with a "Buy" rating and a $25 price target.
The company’s backlog has surged 72% year-over-year to approximately $906 million, supported by an Earth observation archive spanning eight years of daily imagery with 3,000 collections per point. Gross margins stand at 56%.
Key contracts include extensions and new awards from the U.S. National Geospatial-Intelligence Agency in June for AI-enabled maritime monitoring, as well as the launch of Sweden’s first sovereign satellite in May. Planet Labs also projects achieving full-year adjusted EBITDA and free cash flow profitability by fiscal 2026.
Analysts at Berenberg describe the company as positioned at "the intersection of Earth imaging, sovereign demand/defense and AI," noting that artificial intelligence enhances the utility of Planet Labs’ imagery by enabling real-world training data and scalable archive accessibility.
