Planet Labs PBC (PL)

Planet Reports Financial Results for First Quarter of Fiscal Year 2027June 4, 2026 4:10 PM
Business Wire Delivered Record Quarterly Revenue of $94 Million, up 42% YoY
Increased RPOs +81% YoY to $816 Million; Backlog +72% YoY to over $906 Million
Successfully Launched 3 Pelican Satellites, Including Sweden’s First Sovereign Reconnaissance Satellite
End of Period Cash, Cash Equivalents, and Short-Term Investments Increased 223% YoY to $731 Million Planet Labs PBC (NYSE: PL) (“Planet” or the “Company”), a leading provider of daily data and insights about change on Earth, today announced financial results for the period ended April 30, 2026. “Planet’s excellent start to the year is a testament to the mission-critical nature of our data in an increasingly complex world,” said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. “Planet is executing with speed and focus, evidenced by the successful launch of Sweden’s first sovereign reconnaissance satellite just four months after contract signing. By investing in AI, we are positioning Planet at the forefront of the industry and pioneering ways to make planetary-scale insights available and actionable to more users than ever before.” Ashley Johnson, Planet’s President and Chief Financial Officer, added, “We delivered record revenue of $94.2 million, accelerating our top-line growth to 42% year-over-year, driven by exceptional execution across our global go-to-market and delivery teams. The momentum in our business is further reflected in our backlog, which grew 72% year-over-year to over $906 million, providing us with excellent visibility and predictability into our future growth.” Ms. Johnson continued, “We also announced the redemption of our outstanding public warrants, generating approximately $108 million in proceeds from exercises. We ended the quarter with $731 million of cash, cash equivalents, and short-term investments, giving us a fortress balance sheet to confidently invest behind our core growth initiatives while maintaining our operational discipline.” First Quarter of Fiscal Year 2027 Financial and Key Metric Highlights: First quarter revenue increased 42% year-over-year to a record $94.2 million. Percent of recurring annual contract value (ACV) was 99% as of the end of the first quarter. First quarter gross margin was 54%, compared to 55% in the first quarter of fiscal year 2026. First quarter non-GAAP gross margin was 56%, compared to 59% in the first quarter of fiscal year 2026. First quarter net loss was ($138.9) million, compared to ($12.6) million in the first quarter of fiscal year 2026. The first quarter of fiscal year 2027 net loss included an approximate ($106.5) million revaluation loss from the change in fair value of warrant liabilities related to stock price appreciation during the period. Planet announced the redemption of all of its outstanding public warrants during the quarter, resulting in approximately $107.8 million of proceeds from exercises of the public warrants. Additionally, the remaining private placement warrants were exercised on a cashless basis during the quarter. Consequently, revaluations from the change in the fair value of public warrant liabilities will not occur in future quarters. First quarter adjusted EBITDA loss was ($1.0) million, compared to $1.2 million in the first quarter of fiscal year 2026. First quarter GAAP net loss per share was ($0.40) and non-GAAP net loss per share was ($0.03). First quarter GAAP net loss per share included an approximate ($0.31) impact from the change in fair value of warrant liabilities related to stock price appreciation during the period. First quarter net cash provided by operating activities was $15.4 million, and first quarter free cash flow was ($2.5) million. Ended the quarter with $730.8 million in cash, cash equivalents and short-term investments. Please see “Planet’s Use of Non-GAAP Financial Measures” below for a discussion on how Planet calculates the non-GAAP financial measures presented herein. In addition, reconciliations to the most directly comparable U.S. GAAP financial measures are provided in the tables at the end of this release. Recent Business Highlights: Growing Customer and Partner Relationships International Government Customer: During the quarter, Planet signed an eight-figure, one-year contract with an international Defense & Intelligence customer for dedicated capacity services from on-orbit satellites. This contract has provided the customer immediate access to high-resolution tasking capacity and advanced analytic solutions integrated across Planet’s Pelican, SkySat, and PlanetScope constellations. National Geospatial-Intelligence Agency: During the quarter, the NGA awarded Planet a $21.9 million, one-year contract extension for maritime surveillance under the Luno B Indefinite Delivery, Indefinite Quantity (IDIQ) for Advanced Analytics for Maritime Operations and Reconnaissance (AAMOR). Separately, Planet also received a new award from the NGA for its Global Monitoring Service to support crisis response. These awards reinforce the U.S. government’s commitment to integrating commercial, AI-enabled geospatial intelligence into its national security architecture. These milestones underscore Planet’s position as a vital partner for customers seeking persistent monitoring to accelerate critical decision-making in a dynamic geopolitical landscape. U.S. Navy: During the quarter, Planet was awarded a six-month, $7.5 million contract renewal by the U.S. Navy for vessel detection and monitoring over key areas of interest throughout the Pacific. Greek Government: During the quarter, Planet was awarded a two-year, 7-figure agreement with the Greek government to support the country’s National Satellite Space Project. Signed through the European Space Agency (ESA) on behalf of the Hellenic Ministry of Digital Governance and the Hellenic Space Center, this contract will support historical change analysis, trend detection, rapid response during critical events, and the integration of satellite data into national monitoring workflows. Czech Paying Agency: During the quarter, Planet signed a two-year, 7-figure contract to provide satellite imagery and AI-powered analytics to the State Agricultural Intervention Fund (SZIF) of the Czech Republic. This deal will support the country-wide agricultural payments and monitoring system serving approximately 25,000 agricultural holdings across the Czech Republic. Scottish Government: In January, Planet received a 7-figure award from the Agricultural and Rural Economy Directorate with partner Computacenter for PlanetScope data and advanced analytics to support the Agricultural Reform Route Map. Planet's deep archive of data and AI analysis will aid in the country's agricultural transition by rewarding farmers who focus on sustainable food production, biodiversity, and net-zero emissions. John Deere: During the quarter, Planet was awarded a John Deere Supplier Sustainability Award for 2025. This award highlights the value of Planet's satellite data in powering next-generation precision agriculture technologies, helping to improve on-farm efficiency and positive environmental impact for John Deere. Nave Analytics: During the quarter, Nave Analytics, an AgTech company focused on scalable geospatial intelligence for irrigation and water management, signed a renewal. Since 2022, Nave Analytics has partnered with Planet, incorporating Planetary Variables such as Surface Soil Moisture and Biomass Proxy into its data fusion framework. Nave’s products provide farmers and their trusted advisors with near real-time data streams covering all components of the field water balance, planting and irrigation decision risks, and operational sustainability impacts. Watch Duty: During the quarter, Watch Duty became a new customer. Watch Duty is a non-profit public safety platform that provides real-time wildfire tracking, mapping, and emergency alerts, particularly in remote regions of the US where satellite imagery fills critical gaps in radio traffic and on-the-ground reporting. Watch Duty has begun integrating Planet’s imagery and data into their platform for mutual customers, with a lighthouse customer in the energy sector. Bezos Earth Fund: Supported by funding from the Bezos Earth Fund, Planet's Tropical Forest Observatory program is providing 15 environmental and research institutions with 12 months of Planet Monthly Mosaics and PlanetScope data. These broad-area monitoring products are utilized to track changes across the Amazon biome, empowering these institutions to help halt and reverse tropical forest loss. New Technologies and Products Successfully Launched 3 Pelican Satellites: In May, Planet launched three additional AI-enabled Pelican satellites aboard a SpaceX launch vehicle, bringing the total number of high-resolution Pelicans on orbit to nine. Notably, this mission included the Swedish Armed Forces’ first sovereign reconnaissance satellite, which launched just over four months after their contract was signed. Planet AI Application: Planet launched the private beta of a new AI application, a pioneering tool focused on making Planet’s massive global data archive queryable through natural language. By leveraging Planet’s daily data and integrating LLMs, it can help non-technical users to search the data through space and time, conduct complex time-series analysis, generate answers, and produce automated insights and analytic reports at speed and scale. SuperRes: In May, Planet announced SuperRes, an AI-powered technology to improve the resolution of PlanetScope data into a 2m-class resolution visual solution, providing clarity for human-in-the-loop analysis with scale and frequency. New Tanager Satellite: During the quarter, Planet announced an agreement with partners Carbon Mapper and the Jet Propulsion Laboratory to design a specialized, shortwave infrared only iteration of the Tanager spacecraft. This design would expand the swath width of the instrument, enabling more imaging area per collect. This new satellite is aimed at accelerating and building upon the existing Tanager satellite mission by enhancing atmospheric gas detection and supporting commercial use cases like fire fuel monitoring. Shipped Pelican-11 to Launch Site: Earlier this week, Planet announced that the Pelican-11 satellite was shipped to Vandenberg Space Force Base in California ahead of its launch aboard the upcoming Transporter-17 mission with SpaceX. This technology demonstration is the first of the Gen-2 Pelican satellites, which are expected to progress to providing up to 30cm-class imagery. Financial Outlook For the second quarter of fiscal year 2027, ending July 31, 2026, Planet expects revenue to be in the range of approximately $102 million to $107 million. Non-GAAP gross margin is expected to be in the range of approximately 52% to 55%. Adjusted EBITDA profit is expected to be in the range of approximately $0 to $5 million for the quarter. Capital expenditures are expected to be in the range of approximately $21 million and $27 million for the quarter. For the full fiscal year 2027, Planet expects revenue to be in the range of approximately $425 million to $441 million. Non-GAAP gross margin is expected to be in the range of approximately 52% to 54%. Adjusted EBITDA profit is expected to be in the range of approximately $0 and $10 million. Capital expenditures are expected to be in the range of approximately $80 million and $95 million for the year. Planet has not reconciled its non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses and depreciation and amortization are uncertain or out of Planet’s control and cannot be reasonably predicted. The actual amount of these expenses during the second quarter of fiscal year 2027 and full fiscal year 2027 will have a significant impact on Planet’s future GAAP financial results. Accordingly, a reconciliation of Planet’s non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. The foregoing forward-looking statements reflect Planet’s expectations as of today’s date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Webcast and Conference Call Information Planet will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT today, June 4, 2026. The webcast can be accessed at https://investors.planet.com/. The webcast replay will be available at the same location approximately two hours following the event and will remain accessible for at least 1 year. If you would prefer to register for the conference call, please go to the following link: https://events.q4inc.com/attendee/433648654. You will then receive your access details via email. Additionally, a supplemental presentation has been provided on Planet’s investor relations page. About Planet Labs PBC Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter). Channels for Disclosure of Information Planet intends to announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investors.planet.com) and its blog (planet.com/pulse) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. It is possible that the information Planet posts on its website could be deemed to be material information. As such, Planet encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. Planet’s Use of Non-GAAP Financial Measures This press release includes non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described further below, non-GAAP loss from operations, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, adjusted EBITDA, backlog and free cash flow, which are non-GAAP measures the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company includes these non-GAAP financial measures because they are used by management to evaluate the Company’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from the Company’s. Further, certain of the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for the Company and an important part of its compensation strategy. Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP gross profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, and employer payroll taxes related to earnout share vesting. The Company defines non-GAAP gross margin as non-GAAP gross profit divided by revenue. Non-GAAP Expenses: The Company defines and calculates non-GAAP cost of revenue, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, and non-GAAP general and administrative expenses as, in each case, the corresponding U.S. GAAP financial measure (cost of revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses) adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employer payroll taxes related to earnout share vesting, that are classified within each of the corresponding U.S. GAAP financial measures. Non-GAAP Loss from Operations: The Company defines and calculates non-GAAP loss from operations as loss from operations adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employer payroll taxes related to earnout share vesting. Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Diluted Share: The Company defines and calculates non-GAAP net income (loss) as net loss adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expense, employer payroll taxes related to earnout share vesting, change in fair value of warrant liabilities, and the income tax effects of the non-GAAP adjustments. The Company defines and calculates non-GAAP net income (loss) per diluted share as non-GAAP net income (loss) divided by diluted weighted-average common shares outstanding. Adjusted EBITDA: The Company defines and calculates adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax provision and depreciation and amortization, and further adjusted for the following items: stock-based compensation, change in fair value of warrant liabilities, other income (expense), net, restructuring costs, certain litigation expenses, and employer taxes related to earnout share vesting. The Company presents non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described above, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per diluted share and adjusted EBITDA because the Company believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet’s industry and facilitates comparisons on a consistent basis across reporting periods. Further, the Company believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of the Company’s core operating performance. Backlog: The Company defines and calculates backlog as remaining performance obligations plus the cancelable portion of the contract value for contracts that provide the customer with a right to terminate for convenience without incurring a substantive termination penalty and written orders where funding has not been appropriated. Backlog does not include unexercised contract options. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. Remaining performance obligations do not include contracts which provide the customer with a right to terminate for convenience without incurring a substantive termination penalty, written orders where funding has not been appropriated and unexercised contract options. An increasing and meaningful portion of the Company’s revenue is generated from contracts with the U.S. government and other government customers. Cancellation provisions, such as termination for convenience clauses, are common in contracts with the U.S. government and certain other government customers. The Company presents backlog because the portion of its customer contracts with such cancellation provisions represents a meaningful amount of the Company’s expected future revenues. Management uses backlog to more effectively forecast the Company’s future business and results, which supports decisions around capital allocation. It also helps the Company identify future growth or operating trends that may not otherwise be apparent. The Company also believes backlog is useful for investors in forecasting the Company’s future results and understanding the growth of its business. Customer cancellation provisions relating to termination for convenience clauses and funding appropriation requirements are outside of the Company’s control, and as a result, the Company may fail to realize the full value of such contracts. Free Cash Flow: The Company defines and calculates free cash flow as cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs. The Company presents free cash flow because it believes free cash flow provides useful supplemental information to help investors understand underlying trends in the Company’s business and liquidity. Management uses free cash flow, in addition to GAAP measures, to help manage our business, prepare budgets, and for annual planning. Rule of 40: The Company defines and calculates Rule of 40 as the sum of year-over-year revenue growth and Adjusted EBITDA margin as a percent of revenue. The Company may refer to a “Rule of” number other than 40 to refer to the sum of revenue growth and Adjusted EBITDA margin as a percent of revenue for the period given. Other Key Metrics ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates annual contract value (“ACV”) for contracts of one year or greater as the total amount of value that a customer has contracted to pay for the most recent 12 month period for the contract. ACV includes imagery licensing arrangements, data solutions, and dedicated image tasking capacity but excludes customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users, as well as the value of any satellite services contracts. For short-term contracts (contracts less than 12 months), ACV is equal to total contract value. The Company also calculates EoP ACV book of business in connection with the calculation of several of the key operational and business metrics we utilize. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform self-service paying users, as well as the value of any satellite services contracts. Active contracts exclude any contract that has been canceled, expired prior to the last day of the period without renewing, or for any other reason is not expected to generate revenue in the subsequent period. For contracts ending on the last day of the period, the ACV is either updated to reflect the ACV of the renewed contract or, if the contract has not yet renewed or extended, the ACV is excluded from the EoP ACV book of business. The Company does not annualize short-term contracts in calculating its EoP ACV book of business. The Company calculates the ACV of usage-based contracts based on the committed contracted revenue or the revenue achieved on the usage-based contract in the prior 12-month period. Percent of Recurring ACV: Percent of recurring ACV is the portion of the total EoP ACV book of business that is recurring in nature. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts. ACV includes imagery licensing arrangements, data solutions, and dedicated image tasking capacity but excludes customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users, as well as the value of any satellite services contracts. The Company defines percent of recurring ACV as the dollar value of all data subscription contracts and the committed portion of usage-based contracts (excluding customers that are exclusively Planet Insights Platform self-service paying users) divided by the total dollar value of all contracts in our EoP ACV book of business. The Company believes percent of recurring ACV is useful to investors to better understand how much of the Company’s revenue is from customers that have the potential to renew their contracts over multiple years rather than being one-time in nature. The Company tracks percent of recurring ACV to inform estimates for the future revenue growth potential of our business and improve the predictability of our financial results. There are no significant estimates underlying management’s calculation of percent of recurring ACV, but management applies judgment as to which customers have an active contract at a period end for the purpose of determining EoP ACV book of business, which is used as part of the calculation of percent of recurring ACV. Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. The Company defines capital expenditures as a percentage of revenue as the total amount of capital expenditures divided by total revenue in the reported period. Capital expenditures as a percentage of revenue is a performance measure that we use to evaluate the appropriate level of capital expenditures needed to support demand for the Company’s data services and related revenue, and to provide a comparable view of the Company’s performance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. The Company uses an agile space systems strategy, which means we invest in a larger number of significantly lower cost satellites and software infrastructure to automate the management of the satellites and to deliver the Company’s data to clients. As a result of the Company’s strategy and business model, the Company’s capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, the Company believes it is important to look at the level of capital expenditure investments relative to revenue when evaluating the Company’s performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. The Company believes capital expenditures as a percentage of revenue is a useful metric for investors because it provides visibility to the level of capital expenditures required to operate the Company and the Company’s relative capital efficiency. Net Dollar Retention Rate: The Company defines Net Dollar Retention Rate as the percentage of ACV generated by existing customers in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company defines existing customers as customers with an active contract with the Company. The Company believes Net Dollar Retention Rate is a useful metric for investors as it can be used to measure its ability to retain and grow revenue generated from its existing customers, on which its ability to drive long-term growth and profitability is, in part, dependent. The Company uses Net Dollar Retention Rate to assess customer adoption of new products, inform opportunities to make improvements across its products, identify opportunities to improve operations, and manage go to market functions, as well as to understand how much future growth may come from cross-selling and up-selling customers. Management applies judgment in determining the value of active contracts in a given period, as set forth in the definition of ACV. Net Dollar Retention Rate including Winbacks: The Company assesses two metrics for net dollar retention–Net Dollar Retention Rate, as described above, and Net Dollar Retention Rate including winbacks. A winback is a previously existing customer that was inactive at the start of the measurement period but has reactivated during the measurement period. The reactivation period must be within 24 months from the last active contract with the customer; otherwise, the customer is counted as a new customer and therefore excluded from the retention rate metrics. The Company defines Net Dollar Retention Rate including winbacks as the percentage of ACV generated by existing customers and winbacks in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company believes this metric is useful to investors as it captures the value of customer contracts that resume business with the Company after being inactive and thereby provides a quantification of the Company’s ability to recapture lost business. Management uses this metric to understand the adoption of our products and long-term customer retention, as well as the success of marketing campaigns and sales initiatives in re-engaging inactive customers. Beyond the judgments underlying managements’ calculation of Net Dollar Retention Rate set forth above, there are no additional assumptions or estimates made in connection with Net Dollar Retention Rate including winbacks. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Planet’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “target,” “anticipate,” “intend,” “develop,” “evolve,” “plan,” “seek,” “may,” “will,” “could,” “can,” “should,” “would,” “believes,” “predicts,” “potential,” “strategy,” “opportunity,” “aim,” “conviction,” “continue,” “positioned,” “structured” or the negative of these words or other similar terms or expressions that concern Planet’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding Planet’s financial guidance and outlook, expected financial and operating results, the expected value of contracts that Planet has entered into and the timing and amount of revenue that Planet will recognize, Planet’s growth opportunities, Planet’s expectations regarding future product development and performance, including with respect to AI, Planet’s expectations regarding the launch and operations of its satellites, including with respect to timing, and Planet’s expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding Planet’s ability to forecast Planet’s performance due to Planet’s limited operating history. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Planet’s filings with the Securities and Exchange Commission (“SEC”), including Planet’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent filings with the SEC that Planet may make. All forward-looking statements reflect Planet’s beliefs and assumptions only as of the date of this press release. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Planet’s results for the quarter ended April 30, 2026, are not necessarily indicative of its operating results for any future periods.   PLANET CONDENSED CONSOLIDATED BALANCE SHEETS   (in thousands, except share and par value amounts) April 30, 2026 January 31, 2026 Assets         Current assets         Cash and cash equivalents $ 368,090   $ 229,441   Restricted cash and cash equivalents, current   896     642   Short-term investments   362,745     410,649   Accounts receivable, net   61,605     83,528   Inventories   9,343     6,118   Prepaid expenses and other current assets   46,299     44,984   Total current assets   848,978     775,362   Property and equipment, net   159,145     150,573   Capitalized internal-use software, net   20,980     21,475   Goodwill   143,111     143,452   Intangible assets, net   25,156     26,633   Restricted cash and cash equivalents, non-current   6,610     5,471   Operating lease right-of-use assets   39,507     14,588   Other non-current assets   7,944     8,132   Total assets $ 1,251,431   $ 1,145,686   Liabilities and Stockholders’ Equity         Current liabilities         Accounts payable $ 9,040   $ 10,612   Accrued and other current liabilities   58,539     55,874   Deferred revenue   230,682     220,572   Liability from early exercise of stock options   896     1,793   Operating lease liabilities, current   3,392     7,296   Public and private placement warrant liabilities   —     173,308   Total current liabilities   302,549     469,455   Deferred revenue   16,240     27,522   Deferred hosting costs   3,210     4,034   Operating lease liabilities, non-current   37,074     8,300   Convertible notes   447,569     446,884   Other non-current liabilities   1,085     1,060   Total liabilities   807,727     957,255   Stockholders’ equity         Common stock   36     34   Additional paid-in capital   2,027,480     1,631,896   Accumulated other comprehensive income (loss)   4,921     6,362   Accumulated deficit   (1,588,733 )   (1,449,861 ) Total stockholders’ equity   443,704     188,431   Total liabilities and stockholders’ equity $ 1,251,431   $ 1,145,686     PLANET CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS     Three Months Ended April 30, (in thousands, except share and per share amounts) 2026 2025 Revenue $ 94,150   $ 66,265   Cost of revenue   43,749     29,662   Gross profit   50,401     36,603   Operating expenses         Research and development   33,420     23,074   Sales and marketing   22,782     16,314   General and administrative   29,087     19,986   Total operating expenses   85,289     59,374   Loss from operations   (34,888 )   (22,771 ) Interest income   5,153     1,884   Interest expense   (1,446 )   (499 ) Change in fair value of warrant liabilities   (106,474 )   10,387   Other income (expense), net   (206 )   (701 ) Total other income (expense), net   (102,973 )   11,071   Loss before provision for income taxes   (137,861 )   (11,700 ) Provision for income taxes   1,011     928   Net loss $ (138,872 ) $ (12,628 ) Basic and diluted net loss per share attributable to common stockholders $ (0.40 ) $ (0.04 ) Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders   345,524,328     300,267,952     PLANET CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS     Three Months Ended April 30, (in thousands) 2026 2025 Net loss $ (138,872 ) $ (12,628 ) Other comprehensive income (loss), net of tax:         Foreign currency translation adjustment   (728 )   4,775   Change in fair value of available-for-sale securities   (713 )   16   Other comprehensive income (loss), net of tax   (1,441 )   4,791   Comprehensive loss $ (140,313 ) $ (7,837 )   PLANET CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS     Three Months Ended April 30, (in thousands) 2026 2025 Operating activities         Net loss $ (138,872 ) $ (12,628 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities         Depreciation and amortization   11,189     11,082   Stock-based compensation, net of capitalized cost   16,461     12,542   Change in fair value of warrant liabilities   106,474     (10,387 ) Change in fair value of contingent consideration   —     (41 ) Other   (331 )   1,229   Changes in operating assets and liabilities         Accounts receivable   22,466     (21,185 ) Inventories   (731 )   —   Prepaid expenses and other assets   (3,357 )   1,254   Accounts payable, accrued and other liabilities   4,081     (8,915 ) Deferred revenue   (1,143 )   42,072   Deferred hosting costs   (797 )   2,323   Net cash provided by operating activities   15,440     17,346   Investing activities         Purchases of property and equipment   (17,310 )   (8,119 ) Capitalized internal-use software   (647 )   (1,225 ) Maturities of available-for-sale securities   37,487     11,123   Sales of available-for-sale securities   44,525     582   Purchases of available-for-sale securities   (33,367 )   —   Purchases of licensed imagery intangible assets   (274 )   (621 ) Net cash provided by investing activities   30,414     1,740   Financing activities         Proceeds from the exercise of common stock options   3,552     2,962   Payments for withholding taxes related to the net share settlement of equity awards   (17,340 )   (5,264 ) Proceeds from employee stock purchase program   1,328     346   Payments of contingent consideration for business acquisitions   —     (4,820 ) Proceeds from the exercise of warrants   107,801     —   Other   (138 )   (2,383 ) Net cash provided by (used in) financing activities   95,203     (9,159 ) Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents   (1,015 )   5,683   Net increase in cash and cash equivalents, and restricted cash and cash equivalents   140,042     15,610   Cash and cash equivalents, and restricted cash and cash equivalents at the beginning of the period   235,554     129,994   Cash and cash equivalents, and restricted cash and cash equivalents at the end of the period $ 375,596   $ 145,604     PLANET RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA       Three Months Ended April 30, (in thousands)   2026   2025 Net loss   $ (138,872 )   $ (12,628 ) Interest income     (5,153 )     (1,884 ) Interest expense     1,446       499   Income tax provision     1,011       928   Depreciation and amortization     11,189       11,082   Change in fair value of warrant liabilities     106,474       (10,387 ) Stock-based compensation     16,461       12,542   Restructuring costs     —       20   Certain litigation expenses (1)     6,211       326   Employer payroll taxes related to earnout share vesting     (6 )     —   Other (income) expense, net     206       701   Adjusted EBITDA   $ (1,033 )   $ 1,199   (1) Expenses relating to the Delaware class action lawsuit and an acquisition-related dispute.   PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES     Three Months Ended April 30, (In thousands) 2026   2025 Reconciliation of cost of revenue:       GAAP cost of revenue $ 43,749     $ 29,662   Less: Stock-based compensation   1,804       1,541   Less: Amortization of acquired intangible assets   820       691   Less: Employer payroll taxes related to earnout share vesting   (57 )     —   Less: Restructuring costs   —       15   Non-GAAP cost of revenue $ 41,182     $ 27,415           Reconciliation of gross profit:       GAAP gross profit $ 50,401     $ 36,603   Add: Stock-based compensation   1,804       1,541   Add: Amortization of acquired intangible assets   820       691   Add: Employer payroll taxes related to earnout share vesting   (57 )     —   Add: Restructuring costs   —       15   Non-GAAP gross profit $ 52,968     $ 38,850   GAAP gross margin   54 %     55 % Non-GAAP gross margin   56 %     59 %         Reconciliation of operating expenses:       GAAP research and development $ 33,420     $ 23,074   Less: Stock-based compensation   5,679       4,037   Less: Employer payroll taxes related to earnout share vesting   (55 )     —   Non-GAAP research and development $ 27,796     $ 19,037   GAAP sales and marketing $ 22,782     $ 16,314   Less: Stock-based compensation   3,112       1,929   Less: Amortization of acquired intangible assets   132       92   Less: Employer payroll taxes related to earnout share vesting   4       —   Less: Restructuring costs   —       6   Non-GAAP sales and marketing $ 19,534     $ 14,287   GAAP general and administrative $ 29,087     $ 19,986   Less: Stock-based compensation   5,866       5,035   Less: Amortization of acquired intangible assets   23       29   Less: Employer payroll taxes related to earnout share vesting   102       —   Less: Restructuring costs   —       (1 ) Less: Certain litigation expenses   6,211       326   Non-GAAP general and administrative $ 16,885     $ 14,597           Reconciliation of loss from operations       GAAP loss from operations $ (34,888 )   $ (22,771 ) Add: Stock-based compensation   16,461       12,542   Add: Amortization of acquired intangible assets   975       812   Add: Employer payroll taxes related to earnout share vesting   (6 )     —   Add: Restructuring costs   —       20   Add: Certain litigation expenses   6,211       326   Non-GAAP loss from operations $ (11,247 )   $ (9,071 )   PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES     Three Months Ended April 30, (In thousands, except share and per share amounts) 2026   2025 Reconciliation of net loss       GAAP net loss $ (138,872 )   $ (12,628 ) Add: Stock-based compensation   16,461       12,542   Add: Amortization of acquired intangible assets   975       812   Add: Employer payroll taxes related to earnout share vesting   (6 )     —   Add: Restructuring costs   —       20   Add: Certain litigation expenses   6,211       326   Add: Change in fair value of warrant liabilities   106,474       (10,387 ) Income tax effect of non-GAAP adjustments   —       —   Non-GAAP net loss $ (8,757 )   $ (9,315 )         Reconciliation of net loss per share, diluted       GAAP net loss $ (138,872 )   $ (12,628 ) Non-GAAP net loss $ (8,757 )   $ (9,315 )         GAAP net loss per share, basic and diluted (1) $ (0.40 )   $ (0.04 ) Add: Stock-based compensation   0.05       0.04   Add: Amortization of acquired intangible assets   0.00       0.00   Add: Employer payroll taxes related to earnout share vesting   (0.00 )     —   Add: Restructuring costs   —       0.00   Add: Certain litigation expenses   0.02       0.00   Add: Change in fair value of warrant liabilities   0.31       (0.03 ) Income tax effect of non-GAAP adjustments   —       —   Non-GAAP net loss per share, diluted (2) (3) $ (0.03 )   $ (0.03 )         Weighted-average shares used in computing GAAP net loss per share, basic and diluted (1)   345,524,328       300,267,952   Weighted-average shares used in computing Non-GAAP net loss per share, diluted (2)   345,524,328       300,267,952   (1) Basic and diluted GAAP net loss per share was the same for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (2) Non-GAAP net loss per share, diluted is calculated using weighted-average shares, adjusted for dilutive potential shares assumed outstanding during the period. No adjustment was made to weighted-average shares for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (3) Totals may not sum due to rounding. Figures are calculated based upon the respective underlying non-rounded data.   PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES   The table below reconciles Backlog to remaining performance obligations for the periods indicated:   (in thousands)   April 30, 2026   January 31, 2026 Remaining performance obligations   $ 816,008     $ 852,435   Cancelable amount of contract value     90,047       47,992   Backlog   $ 906,055     $ 900,427     For remaining performance obligations as of April 30, 2026, the Company expects to recognize approximately 35% within the next 12 months, approximately 66% within the next 24 months, and the remainder thereafter. For Backlog as of April 30, 2026, the Company expects to recognize approximately 40% within the next 12 months, approximately 69% within the next 24 months, and the remainder thereafter. PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES   The table below reconciles free cash flow to net cash provided by (used in) operating activities for the periods indicated:       Three Months Ended April 30, (in thousands)   2026   2025 Net cash provided by operating activities   $ 15,440     $ 17,346   Purchases of property and equipment     (17,310 )     (8,119 ) Capitalized internal-use software     (647 )     (1,225 ) Free cash flow   $ (2,517 )   $ 8,002     View source version on businesswire.com: https://www.businesswire.com/news/home/20260604225506/en/ Investor Contact
Cleo Palmer-Poroner
Planet Labs PBC
ir@planet.com Press Contact
Trevor Hammond
Planet Labs PBC
press@planet.com Original: Planet Reports Financial Results for First Quarter of Fiscal Year 2027

Planet Labs Extends NGA Partnership With $22 Million Maritime Surveillance Contract (PL)June 4, 2026 10:29 AM
IH Market News Planet Labs PBC (NYSE:PL) traded modestly higher in premarket activity on Thursday after announcing a $22 million contract extension with the U.S. National Geospatial-Intelligence Agency (NGA) to continue providing maritime surveillance and intelligence services. Shares of the satellite imaging company rose 1.4% following the update. NGA Exercises First Option Year Under Luno B Contract The NGA exercised the first option year under the Luno B Indefinite Delivery, Indefinite Quantity (IDIQ) contract for Advanced Analytics for Maritime Operations and Reconnaissance. The one-year extension ensures continued access to Planet’s artificial intelligence-powered Maritime Domain Awareness capabilities across multiple U.S. Combatant Commands. The contract highlights the growing role of commercial satellite operators in supporting defense and intelligence missions. AI-Powered Monitoring of Maritime Activity Under the agreement, Planet will continue delivering automated detection and monitoring of significant maritime events. The company’s services include identifying ship-to-ship transfers, monitoring vessel movements and tracking so-called “dark” fleet activity involving ships that may attempt to conceal their location or operations. These capabilities will be provided through Planet Labs Federal, Inc. using imagery and data from the company’s PlanetScope satellite constellation. Additional Defense Contract Awarded Separately, Planet announced that it has secured another NGA contract in collaboration with the Defense Innovation Unit (DIU). The new agreement covers the provision of Planet’s Global Monitoring Service, which supports national security objectives through frequent satellite observation and rapid delivery of intelligence products. The service is designed to provide near-daily monitoring, change detection and enhanced situational awareness for defense and intelligence users. SuperDove Constellation to Support Analytics For the Global Monitoring Service programme, Planet will leverage its SuperDove satellite constellation together with AI-enabled analytical tools. The system is designed to generate automated insights for NGA and DIU analysts, often delivering actionable information within hours of image collection. The company believes this combination of high-frequency imagery and artificial intelligence can significantly accelerate intelligence gathering and decision-making processes. Growing Role for Commercial Space Assets “Commercial imagery underscores a fundamental shift in the intelligence paradigm. At the core of this evolution is Planet’s PlanetScope constellation, providing persistent, broad area monitoring,” said Jon Powers, Planet VP, Global Defense & Intelligence. The latest awards further demonstrate how U.S. government agencies are increasingly incorporating commercial satellite capabilities into national security and defense operations. Planet views the contracts as evidence of the expanding importance of commercial space-based intelligence solutions in supporting modern surveillance, reconnaissance and strategic monitoring requirements. Planet Labs stock price Original: Planet Labs Extends NGA Partnership With $22 Million Maritime Surveillance Contract (PL)

Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response MonitoringJune 4, 2026 9:04 AM
Business Wire Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced two significant contract milestones with the National Geospatial-Intelligence Agency (NGA) that deepen the company’s role in supporting global security. Planet’s subsidiary, Planet Labs Federal, Inc., has been awarded an Option Year 1 extension for its Maritime Domain Awareness (MDA) and a new contract for Global Monitoring Service (GMS) to support ongoing crisis response efforts. The NGA has exercised the first option year under the Luno B Indefinite Delivery, Indefinite Quantity (IDIQ) contract for Advanced Analytics for Maritime Operations and Reconnaissance (AAMOR). Following a successful inaugural program, this one-year, $22 million extension helps ensure the NGA’s continued access to AI-enabled Maritime Domain Awareness (MDA) solutions across multiple Combatant Commands. Planet will continue to provide the automated detection of strategic and tactical maritime events, including ship-to-ship transfers and “dark” fleet activity. Exercising this option supports NGA’s foundational mission of providing high-quality, unclassified commercial data and analytics to partners and allies. “Commerical imagery underscores a fundamental shift in the intelligence paradigm. At the core of this evolution is Planet’s PlanetScope constellation, providing persistent, broad area monitoring. This unblinking eye delivers a daily global scan that, when paired with our seven-year archive, ensures no change goes unnoticed. And by layering MDA and GMS solutions onto this foundation, we are delivering automated, mission critical answers faster than ever before," said Jon Powers, Planet VP, Global Defense & Intelligence. “These solutions bridge the 'last mile' between raw data and actionable intelligence, democratizing access so that field operators can leverage complex geospatial insights without requiring advanced GIS expertise. In today’s volatile geopolitical landscape, this 'always on' visibility delivers essential information within hours of collection, accelerating the vital decision making continuum when every moment counts." In an additional expansion, Planet has been awarded a critical contract by NGA, in partnership with the Defense Innovation Unit (DIU), to provide its Global Monitoring Service (GMS) in support of national defense priorities. The award is designed to provide the U.S. government with dedicated, near-daily change detection and situational awareness. Under the agreement, Planet will provide high-frequency, low-latency satellite imagery, helping ensure decision-makers have access to persistent monitoring. Utilizing the SuperDove (PlanetScope) constellation and AI-enabled analytics, Planet will deliver automated insights directly to NGA and DIU analysts often as quickly as within just hours of collection. These contracts are an example of the U.S government’s focus on integrating agile, commercial space capabilities into the national security architecture. Together, these awards reinforce Planet’s "always-on" monitoring as a vital tool for ensuring the safety of U.S. and allied personnel, and the company’s support in maintaining a comprehensive understanding of the operational landscape. Learn more about Planet’s defense and intelligence capabilities here. About Planet Labs PBC Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’. Forward-looking Statements Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about the expansion of the high resolution capacity of Planet’s fleet, the delivery of such capacity to Planet customers, and the Company’s ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements, including risks related to the macroeconomic environment. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604550935/en/ Planet Press
Emily Lewis Benz
press@planet.com Planet Investor Relations
Cleo Palmer-Poroner
ir@planet.com Original: Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response Monitoring

Virgin Galactic surges as flight-testing restart and SpaceX IPO excitement fuel rally (SPCE)May 29, 2026 6:28 AM
IH Market News Virgin Galactic Holdings Inc (NYSE:SPCE) continued its remarkable advance on Thursday, 28 May, with shares climbing 19.53% during regular trading before adding a further 14% in after-hours activity. The move positions the stock for a sixth consecutive day of gains and extends its cumulative rise to more than 83% over the past five trading sessions. The rally has been driven by a combination of company-specific developments and growing enthusiasm across the wider space sector, which has attracted renewed investor attention ahead of the highly anticipated SpaceX public offering. Successful VSS Unity flight boosts confidence A key catalyst behind the recent share price surge was the successful glide flight of Virgin Galactic’s VSS Unity spacecraft on 27 May at Spaceport America in New Mexico. The mission marked the company’s return to active flight-testing operations after a two-year pause and was viewed by investors as an important milestone in Virgin Galactic’s effort to resume commercial activities. Management outlined plans to continue flight testing during the third quarter of 2026, with commercial operations expected to restart in the fourth quarter. The company also reopened ticket sales for approximately 50 future missions, with seats priced at $750,000 each. Investors were further encouraged by signs of tighter financial discipline. Virgin Galactic reported a 26% year-on-year reduction in first-quarter operating expenses, reflecting efforts to improve cash management as it prepares for the next phase of operations. SpaceX IPO drives broader sector enthusiasm Beyond Virgin Galactic’s own progress, the stock has benefited from a powerful re-rating across the space industry following developments surrounding SpaceX (NASDAQ:SPCX). Investor interest in the sector accelerated after SpaceX filed documentation for its planned initial public offering on 21 May 2026. The listing is widely expected to become one of the largest public offerings ever undertaken, with estimates suggesting a valuation of approximately $1.75 trillion. The prospect of such a landmark transaction has sparked buying activity throughout the listed space ecosystem. Companies including Rocket Lab (NASDAQ:RKLB), Intuitive Machines (NASDAQ:LUNR) and Planet Labs (NYSE:PL) have all recorded strong gains as investors seek exposure to businesses connected to the expanding commercial space market. Virgin Galactic has emerged as one of the primary beneficiaries of this trend. As one of the few publicly traded companies offering direct exposure to the space tourism market, it has attracted significant interest from retail investors seeking to participate in the sector’s renewed momentum. The stock’s elevated short interest has also contributed to the move. With approximately 23% of shares sold short, continued positive sentiment could increase the potential for a short squeeze, adding further volatility to the share price in the weeks ahead. Valuation concerns remain despite momentum While market enthusiasm has driven Virgin Galactic sharply higher, some analysts remain cautious about the company’s valuation. Consensus recommendations remain broadly neutral, with an average target price of $3.55, implying downside potential of approximately 21.63% from recent trading levels. Critics argue that the company’s market value is increasingly disconnected from its underlying financial fundamentals. Virgin Galactic continues to generate limited revenue, trades at a price-to-sales ratio exceeding 200 and remains deeply loss-making at the operating level. As a result, many investors continue to view SPCE primarily as a sentiment-driven or narrative-led stock rather than a business supported by established cash generation. The sustainability of the rally may therefore depend not only on Virgin Galactic’s ability to deliver on its commercial flight plans, but also on whether investor enthusiasm surrounding the upcoming SpaceX IPO can be maintained once the initial excitement surrounding the listing begins to fade. Virgin Galactic Holdings stock price SpaceX IPO Rocket Lab stock price Intuitive Machines stock price Planet Labs stock price Original: Virgin Galactic surges as flight-testing restart and SpaceX IPO excitement fuel rally (SPCE)

Your answer $50

Planet Selected for 7-Figure Deal with Czech Government for AI-Powered Agriculture MonitoringMay 13, 2026 9:03 AM
Business Wire Planet Labs Germany, a leading provider of daily data and insights about change on Earth, today announced Planet's subsidiary Sinergise Solutions d.o.o. has signed a 2-year, 7-figure contract to provide satellite imagery and AI-powered analytics to the State Agricultural Intervention Fund (SZIF) of the Czech Republic. This deal will support the country-wide agricultural payments and monitoring system. By integrating Planet’s high-frequency satellite data with AI analytics in partnership with Asseco Group, SZIF users can streamline and enhance the efficiency of claim validation processes, serving approximately 25,000 agricultural holdings across the Czech Republic. This automated approach allows for near-continuous monitoring of agricultural land, ensuring that activities such as crop type identification and harvest timing are verified accurately and transparently. “Integrating Planet’s daily satellite data into our administrative processes is a critical step in our digital transformation,” said Director General, Ing. Petr Dlouhý, MBA at SZIF. “The ability to receive consistent, high-quality data across the entire country allows us to provide more reliable services to our farmers while ensuring the highest level of integrity in our validation workflows. Working with Planet and Asseco ensures we have the advanced analytics needed to manage our resources sustainably and effectively.” With Planet’s unique global scan and deep archive, civil government agencies can independently verify land changes and agricultural health at scale. “Our work with the Czech government centers on modernizing agricultural oversight through our daily monitoring capabilities and platform,” said Diego Vanelli, Director of Government Sales in EMEA at Planet. “By shifting from manual, reactive inspections to proactive, AI-enabled agricultural monitoring and reporting, SZIF is establishing a new standard for operational efficiency. This contract reinforces Planet’s role as a reliable partner for European national payment agencies in agriculture as they navigate complex regulatory requirements.” The addition of the Czech Republic expands Planet’s growing footprint of supporting several European governments in ensuring Common Agricultural Policy (CAP) and other compliance. Planet’s data model allows multiple agencies to leverage a single daily scan of the entire country to generate localized, actionable insights in near real-time. About Planet Planet Labs Germany is part of the Planet group and is based at Planet’s European headquarters in Berlin. Sinergise Solutions d.o.o. is owned by Planet Labs Germany GmbH. Planet Labs PBC (NYSE: PL) is the parent company of the Planet group with global headquarters in San Francisco, USA. Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter) or tune in to HBO's ‘Wild Wild Space’. Forward-looking Statements Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about Planet’s strategic partnerships and Planet’s future growth in new and existing markets. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513533576/en/ Planet Press
Rachel Cassells
press@planet.com Planet Investor Relations
Cleo Palmer-Poroner
ir@planet.com Original: Planet Selected for 7-Figure Deal with Czech Government for AI-Powered Agriculture Monitoring

Planet Signs 7-Figure Enterprise Contract to Power Greece’s National Satellite Space ProjectMay 7, 2026 9:03 AM
Business Wire Planet Labs Germany, a leading provider of daily data and insights about change on Earth, today announced a 2-year, 7-figure agreement with the Greek government to support the country’s National Satellite Space Project. Signed through the European Space Agency (ESA) on behalf of the Hellenic Ministry of Digital Governance and the Hellenic Space Center, this contract includes numerous data offerings, including near-daily medium-resolution imagery and high-resolution tasking to support a number of broad area monitoring initiatives. This government-wide deal expands the downstream pillar of the Small Satellite Programme into a full-scale operational contract to power the country’s National Satellite Space Project. Greek government institutions have access to over a decade of PlanetScope imagery, high-resolution tasking capabilities and access to Planet’s Professional Services team. These capabilities will support historical change analysis, trend detection, rapid response during critical events, and the integration of satellite data into national monitoring workflows. Use cases include land management, agriculture, national disaster planning, and forest and water monitoring, among others. “The Hellenic Space Center (HSC) is committed to turning space-based data into a vital tool for national safety and environmental resilience,” said Dimitris Bliziotis, Earth Observation Officer at the Hellenic Space Center. “This agreement with Planet provides our scientists and policymakers with an unprecedented baseline of information. It enables us to build sophisticated downstream services that will systematically monitor our forests and agricultural lands, manage our water resources, and bolster our national security with objective, near-real-time insights.” This engagement is part of Greece’s National Satellite Space Project, an ambitious initiative designed to strengthen national capabilities in satellite technologies, foster job creation, and generate economic prosperity. The program aims to transform raw satellite data into systematic, timely, and actionable information. “Greece is moving rapidly to establish a state-of-the-art national space ecosystem that delivers real-world value to its citizens,” said Diego Vanelli, Director of Government Sales in EMEA at Planet. “By moving from a pilot phase to this nationwide monitoring contract, the Greek government is ensuring that its ministries have the persistent, high-frequency data needed to manage its diverse topography and critical natural resources. We are proud to be the foundational data partner for this national transformation.” The National Satellite Space Project is funded by the Recovery and Resilience Fund (RRF) Greece 2.0, underscoring the European Union’s commitment to leveraging space technology as a driver of digital and green transitions. Planet has been collaborating with the European Space Agency for several years through the Third Party Mission (TPM) programme. This agreement builds on the knowledge and experience developed within this framework, further strengthening the long-standing partnership. The data acquired under this agreement is expected to contribute to the TPM ecosystem over time, supporting continued use by authorized users. About Planet Planet Labs Germany is part of the Planet group and is based at Planet’s European headquarters in Berlin. Planet Labs PBC (NYSE: PL) is the parent company of the Planet group with global headquarters in San Francisco, USA. Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more, visit www.planet.com and follow us on X (formerly Twitter) or tune in to HBO's ‘Wild Wild Space’. Forward-looking Statements Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about Planet’s strategic partnerships and Planet’s future growth in new and existing markets. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507522857/en/ Planet Press
Rachel Cassells
press@planet.com Planet Investor Relations
Cleo Palmer-Poroner
ir@planet.com Original: Planet Signs 7-Figure Enterprise Contract to Power Greece’s National Satellite Space Project

Planet to Announce Fiscal First Quarter 2027 Results on Thursday, June 4, 2026May 7, 2026 9:05 AM
Business Wire Planet Labs PBC (NYSE:PL), a leading provider of daily data and insights about change on Earth, today announced that it plans to release its fiscal first quarter 2027 financial results for the quarter that ended April 30, 2026, after market close on Thursday, June 4, 2026. Planet’s management will host a conference call to discuss the financial results and business outlook at 5:00 p.m. ET / 2:00 p.m. PT the same day. Planet invites you to listen to the conference call, which will be webcast live at Planet’s Investor Relations website (investors.planet.com). The webcast will be archived on this website and available for replay approximately two hours after the completion of the event. If you would like to pre-register for the live webcast, please visit the following link to do so in advance of the conference call: https://events.q4inc.com/attendee/433648654 About Planet Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly known as Twitter). Source: Planet Labs View source version on businesswire.com: https://www.businesswire.com/news/home/20260507546271/en/ Investor Contact
Cleo Palmer-Poroner
Planet Investor Relations Team
ir@planet.com Press Contact
Trevor Hammond
Planet Communications Team
press@planet.com Original: Planet to Announce Fiscal First Quarter 2027 Results on Thursday, June 4, 2026

Planet Announces Completion of Redemption of Public WarrantsMay 4, 2026 9:05 AM
Business Wire
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced that the Company has completed the redemption of its outstanding public warrants (the “Public Warrants”) to purchase shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A common stock”), that were issued under the Warrant Agreement, dated March 4, 2021 (the “Warrant Agreement”), by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agent”), as part of the units sold in the Company’s initial public offering (the “IPO”), for a redemption price of $0.01 per Public Warrant (the “Redemption Price”), that remained outstanding at 5:00 p.m. New York City time on April 27, 2026 (the “Redemption Date”).


On March 27, 2026, the Company issued a press release stating that, pursuant to the terms of the Warrant Agreement, on the Redemption Date it would redeem all of the outstanding Public Warrants at a redemption price of $0.01 per Public Warrant. Of the 9,162,223 Public Warrants that were outstanding as of March 27, 2026, 9,090,913 were exercised for cash at an exercise price of $11.50 per share in accordance with the terms of the Warrant Agreement, representing 99.2% of the outstanding Public Warrants in the aggregate and resulting in aggregate cash proceeds of $104.5 million.


A total of 71,310 Public Warrants remained unexercised as of the Redemption Date and the Company redeemed those Public Warrants for an aggregate redemption price of $713. Following the Redemption Date, the Company had 332,899,400 shares of Class A common stock outstanding, 23,493,796 shares of the Company’s Class B common stock, par value $0.0001 per share outstanding and no Public Warrants outstanding.


In connection with the redemption, the Public Warrants ceased trading on the New York Stock Exchange and were delisted with the suspension of trading effective before market open on April 27, 2026. The Class A common stock continues to trade on the New York Stock Exchange under the symbol “PL.”


No Offer or Solicitation


This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of any of the Company’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.


About Planet Labs PBC


Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260501280317/en/
Planet Press

Claire Bentley Dale

press@planet.com


Planet Investor Relations

Cleo Palmer-Poroner

ir@planet.com


Original: Planet Announces Completion of Redemption of Public Warrants

Planet Launches Three Additional High-Resolution Pelican SatellitesMay 3, 2026 6:37 AM
Business Wire
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced the successful launch of three additional Pelican satellites, one of which is the first satellite to orbit as part of the recently-announced satellite services agreement with the Swedish Armed Forces (SwAF). The spacecraft were launched to orbit aboard the CAS500-2 rideshare mission with SpaceX from Vandenberg Space Force Base in California. Planet has begun the commissioning process for the three satellites after successfully making initial contact.


The launch of the SwAF Pelican marks a milestone in agile aerospace, with Planet delivering a sovereign orbital capability just over four months after the contract was signed. This mission transitions Sweden into an operational space power, providing the high-resolution, global monitoring necessary to detect threats in strategic regions like the Arctic. By reaching orbit years ahead of their original 2030 goal, the Swedish Armed Forces will be able to provide critical intelligence that strengthens both their national security and NATO’s collective situational awareness.


These advanced, AI-enabled Pelican satellites are the first to launch in 2026, building on the successful launches that brought five Pelicans to orbit in 2025. Each of these satellites is equipped with NVIDIA’s Jetson AI platform to facilitate on-orbit edge computing, which Planet has recently leveraged for successful AI-driven, near real-time object detection onboard Pelican-4.


As first generation (Gen 1) Pelicans, these spacecraft are built to capture 50 cm class resolution imagery across six multispectral bands, which are optimized for seamless cross-sensor analysis. Once commissioning is complete, they will operate alongside the existing Pelican Gen 1 fleet to support the delivery of the company's 50 cm class high-resolution tasking solutions.


Planet is continuing to scale its Pelican manufacturing capacity to meet the growing, global customer demand for high-resolution data and sovereign satellite ownership. Planet’s expanding Pelican fleet is designed to provide users with the rapid, crisp imagery needed to inform mission-critical decisions in near real-time, particularly through leading solutions like Planet’s Global Monitoring Service (GMS). Planet is also continuing to deliver on and develop a strong pipeline for its satellite services contracts, supplying nations with a proven means of expanding their space capabilities with advanced, sovereignly-owned Pelican satellites.


Planet plans to continue to meet the rapidly growing need for its high-resolution monitoring solutions by launching additional Gen 1 and the first Gen 2 Pelican satellites later in 2026, which are designed to provide up to 30 cm class resolution.


About Planet Labs PBC


Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.


Forward-looking Statements


Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about the expansion of the high resolution capacity of Planet’s fleet, the delivery of such capacity to Planet customers, and the Company’s ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements, including risks related to the macroeconomic environment. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260503216574/en/
Planet Press

Emily Lewis Benz

press@planet.com


Planet Investor Relations

Cleo Palmer-Poroner

ir@planet.com


Original: Planet Launches Three Additional High-Resolution Pelican Satellites

So when are we hitting $50. Or should I say $100 a share?

Planet Labs tests onboard AI object detection on Pelican-4 satelliteApril 7, 2026 9:49 AM
IH Market News
Planet Labs PBC (NYSE:PL) said it has successfully carried out AI-powered object detection directly aboard its Pelican-4 satellite, marking a step forward in real-time space-based data analysis. The test, conducted on March 25, involved capturing imagery of an airport located about 500 kilometers above Alice Springs, Australia, and identifying aircraft shortly after the image was taken.According to the company, the satellite used an onboard NVIDIA Jetson Orin computing module to perform the detection process within moments of capturing the image.The milestone represents one of the early demonstrations of an Earth observation satellite performing onboard AI inference and analysis beyond simply collecting data, the company said.“By running AI at the edge on the NVIDIA Jetson platform, we can help reduce the time between ’seeing’ a change on Earth and a customer ’acting’ on it, while simultaneously minimizing downlink latency and cost,” said Kiruthika Devaraj, VP of Avionics & Spacecraft Technology.Planet Labs CEO and co-founder Will Marshall said the technology has the potential to significantly shorten the time needed to turn satellite imagery into actionable insights. “This can be the critical difference-maker for our customers from disaster response to security and beyond,” Marshall said.Planet Labs added that the technology could support the evolution of its Pelican satellites and the upcoming Owl constellation into a near real-time intelligence network. In the test, the full process—from data capture and object detection to geo-rectification—was carried out directly in orbit. The company said the system produced GeoTIFF and GeoJSON data outputs through Docker-based processing containers running in space.The development follows a previously announced strategic collaboration between Planet Labs and NVIDIA. The company noted that the onboard AI models are still in early development and will continue to be improved over time.Planet Labs stock price

Original: Planet Labs tests onboard AI object detection on Pelican-4 satellite

Planet Ships Three Additional Pelicans to Launch SiteApril 6, 2026 9:03 AM
Business Wire
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced the shipment of three Pelican satellites to Vandenberg Space Force Base in California ahead of their launch aboard the upcoming CAS500/2 rideshare mission with SpaceX. By launching these satellites to orbit, Planet will further expand the Pelican fleet’s industry-leading capabilities and rapid revisit rate, providing high-resolution, AI-enabled solutions to its customers around the world.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260406451373/en/One of Planet's latest Pelican satellites, photographed at its headquarters in San Francisco, ahead of their departure to Vandenberg Space Force Base in California.
“Kicking off our first Pelican launch of 2026 demonstrates the pace at which we’re scaling our most advanced constellation to date, with higher resolution, faster repeat rates, and lower latency,” said Will Marshall, Co-Founder and CEO of Planet. “By integrating the NVIDIA Jetson platform directly onboard, we are effectively adding a high-functioning AI ‘brain’ to our satellite ‘eyes’ – working to enable answers in minutes rather than hours. This is a move beyond mere imagery towards what we call Planetary Intelligence. By running AI at the edge, we’re striving to provide customers with near real-time answers about the planet, and move insights from the digital to the physical world.”


“The shipment and integration of these spacecraft reflects the incredible momentum of our production line,” said Brian Lewis, Mission Director for Pelican at Planet. “Our rapid manufacturing and design approach allows us to iterate and deploy at scale, providing the high-resolution intelligence customers need to make critical and time-sensitive decisions. This milestone reinforces our commitment to meeting the urgent operational demands of our partners at the pace of global change.”


These first generation (Gen 1) Pelicans are designed to capture 50 cm class resolution imagery across six multispectral bands, which are optimized for seamless cross-sensor analysis. After completing commissioning, they will join the existing Gen 1 Pelicans in supporting the ongoing delivery of Planet’s 50 cm class products. Each spacecraft on this launch features NVIDIA’s Jetson AI platform onboard to provide edge computing functions. By processing data on-orbit, Planet is working to reduce latency to deliver near-real-time situational awareness and rapid answers directly to customers. To meet the growing demand for high-resolution monitoring solutions, Planet plans to launch additional first- and second-generation Pelican satellites over the next year and beyond.


Looking ahead, Planet plans to begin launching its second generation (Gen 2) Pelican satellites later in 2026, which will be designed to achieve up to 30 cm-class resolution. With these advancements, Planet continues to push the boundaries of intra-day revisit rates and low latency tasking.


About Planet Labs PBC


Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.


Forward-looking Statements


Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about the expansion of the high resolution capacity of Planet’s fleet, the delivery of such capacity to Planet customers, and the Company’s ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements, including risks related to the macroeconomic environment. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406451373/en/
Planet Press

Emily Lewis Benz

press@planet.com


Planet Investor Relations

Cleo Palmer-Poroner

ir@planet.com


Original: Planet Ships Three Additional Pelicans to Launch Site

..warrants being redeemed: https://investorshub.advfn.com/stock-market/NYSE/planet-labs-pbc-PL/stock-news/98160350/planet-announces-redemption-of-public-warrants

Planet Announces Redemption of Public WarrantsMarch 27, 2026 9:00 AM
Business Wire
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced that the Company will redeem all of its outstanding public warrants (the “Public Warrants”) to purchase shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A common stock”), that were issued under the Warrant Agreement, dated March 4, 2021 (the “Warrant Agreement”), by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agent”), as part of the units sold in the Company’s initial public offering (the “IPO”), for a redemption price of $0.01 per Public Warrant (the “Redemption Price”), that remain outstanding at 5:00 p.m. New York City time on April 27, 2026 (the “Redemption Date”).


Under the terms of the Warrant Agreement, the Company is entitled to redeem all of the outstanding Public Warrants if the last sales price of the Class A common stock is at least $18.00 per share on any twenty trading days within any thirty-day trading period ending on the third trading day prior to the date on which a notice of redemption is given. At the direction of the Company, the Warrant Agent has delivered a notice of redemption to each of the registered holders of the outstanding Public Warrants.


The Public Warrants may be exercised by the holders thereof until 5:00 p.m. New York City time on the Redemption Date to purchase fully paid and non-assessable shares of Class A common stock underlying such warrants, at the exercise price of $11.50 per share. Any Public Warrants that remain unexercised at 5:00 p.m. New York City time on the Redemption Date will be delisted, void and no longer exercisable, and the holders will have no rights with respect to those Public Warrants, except to receive the Redemption Price (or as otherwise described in the redemption notice for holders who hold their Public Warrants in “street name”).


Questions concerning redemption and exercise of the Public Warrants can be directed to Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004, Attention: Compliance Department, telephone number (212) 509-4000.


No Offer or Solicitation


This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of any of the Company’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.


About Planet Labs PBC


Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space.'


Forward-Looking Statements


Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws. Forward-looking statements generally relate to future events or Planet’s future financial or operating performance. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260327719258/en/
Planet Press

Emily Lewis Benz

press@planet.com
Planet Investor Relations

Cleo Palmer-Poroner

ir@planet.com


Original: Planet Announces Redemption of Public Warrants

Planet treibt europäische Expansion mit wichtigen Stellenangeboten für neues Produktionswerk in Berlin voranMarch 25, 2026 12:57 PM
Business Wire
Die Rekrutierungsphase markiert den nächsten Meilenstein in Planets langfristigem Engagement in Deutschland und stärkt Europas eigenständige Weltraumkapazitäten sowie das industrielle Ökosystem


Planet Labs Germany, ein führender Anbieter von täglichen Daten und Erkenntnissen zu Veränderungen auf der Erde, gab heute bekannt, dass das Unternehmen mit der Rekrutierung hochqualifizierter deutscher Fachkräfte begonnen hat, um sein künftiges Satellitenproduktionswerk in Berlin in Betrieb zu nehmen. Diese Rekrutierungsphase markiert einen wichtigen Meilenstein in der strategischen Expansion von Planet im Bereich der europäischen Fertigung.


Planet baut und betreibt die größte Flotte kommerzieller Erdbeobachtungssatelliten der Geschichte. Die Anlage in Berlin wird die Produktionskapazität der hochauflösenden Pelican-Flotte der nächsten Generation verdoppeln und gleichzeitig Deutschlands Rolle als Drehscheibe für fortschrittliche Luft- und Raumfahrttechnik stärken sowie Europas Zugang zu souveränen, KI-gestützten Erdbeobachtungskapazitäten verbessern.


Zu diesen Positionen gehören Führungspositionen auf hoher Ebene sowie spezialisierte technische Funktionen, die für den Erfolg der Anlage unerlässlich sind, darunter der Leiter der Fertigung, der Missionsleiter für Konstellationsdienste sowie verschiedene Ingenieurspositionen. Mit Beginn der Einstellungen 2026 wird Planet sein bestehendes Team von etwa 150 Mitarbeitern in Berlin voraussichtlich um bis zu 70 neue Mitarbeiter erweitern.


„Berlin ist ein globales Zentrum für Hightech-Innovation, und wir freuen uns darauf, den hochqualifizierten Talentpool der Region zu nutzen, um unser neuestes Kapitel in der Fertigung zu schreiben“, sagte Martin Polak, Geschäftsführer von Planet Labs Germany. „Durch den Ausbau unseres Teams hier stärken wir das europäische Weltraum-Ökosystem und stellen sicher, dass unsere Partner souveränen Zugang zu den KI-gestützten globalen Erkenntnissen haben, die für Sicherheit und Nachhaltigkeit erforderlich sind. Diese Einstellungsoffensive unterstreicht unser langfristiges Engagement für Deutschland als Motor für industrielle Kompetenz und Exzellenz in der Luft- und Raumfahrt.“


Berlin dient seit über 10 Jahren als europäischer Hauptsitz von Planet und fungiert als Mission Control Center für die weltweite Flotte von rund 200 Satelliten. Dieses Wachstum stärkt die Verbindungen von Planet zu seinem robusten Ökosystem aus deutschen Kunden und Partnern weiter, darunter bedeutende Branchenführer und Mitarbeiter von mehr als 400 deutschen Bundesbehörden. Die neue Produktionsstätte baut auf dieser langjährigen Präsenz auf und stellt die nächste Phase des Wachstums von Planet in Deutschland dar.


Interessierte Kandidaten können die Karriereseite von Planet besuchen, um aktuelle Stellenangebote einzusehen. Weitere Stellen in den Bereichen Fertigung, Betrieb und Professional Services werden im Laufe des Jahres 2026 verfügbar sein.


Über Planet


Planet Labs Germany ist Teil der Planet-Gruppe und hat seinen Sitz am europäischen Hauptsitz von Planet in Berlin. Planet Labs PBC (NYSE: PL) ist die Muttergesellschaft der Planet-Gruppe mit globalem Hauptsitz in San Francisco, USA. Planet ist ein führender Anbieter von globalen, täglichen Satellitenbildern und Geodatenlösungen. Planet verfolgt die Mission, die Welt jeden Tag abzubilden und Veränderungen sichtbar, zugänglich und umsetzbar zu machen. Planet wurde 2010 von drei NASA-Wissenschaftlern gegründet und entwickelt, baut und betreibt die größte Erdbeobachtungsflotte von Bildsatelliten. Planet stellt missionskritische Daten, fundierte Erkenntnisse und Softwarelösungen für Kunden bereit, zu denen weltweit führende Unternehmen aus den Bereichen Landwirtschaft, Forstwirtschaft, Nachrichtendienste, Bildung und Finanzen sowie Regierungsbehörden gehören, und ermöglicht es Anwendern, auf einfache und effektive Weise einen einzigartigen Mehrwert aus Satellitenbildern zu generieren. Planet Labs PBC ist eine gemeinnützige Aktiengesellschaft, die an der New Yorker Börse unter dem Kürzel PL notiert ist. Um mehr zu erfahren, besuchen Sie www.planet.com und folgen Sie uns auf X, LinkedIn oder schauen Sie sich HBOs Wild Wild Space an.


Zukunftsgerichtete Aussagen


Bestimmte Aussagen in dieser Pressemitteilung sind „zukunftsgerichtete Aussagen“ über Planet im Sinne der Wertpapiergesetze, einschließlich Aussagen über die strategischen Partnerschaften von Planet und das zukünftige Wachstum von Planet in neuen und bestehenden Märkten. Solche Aussagen, die keine historischen Tatsachen darstellen, beinhalten Schätzungen, Annahmen, Einschätzungen und Unsicherheiten. Es gibt eine Reihe von Faktoren, die dazu führen könnten, dass die tatsächlichen Ergebnisse oder Entwicklungen wesentlich von den in den zukunftsgerichteten Aussagen beschriebenen abweichen. Diese Faktoren sind in den bei der Securities and Exchange Commission eingereichten Unterlagen von Planet detailliert beschrieben. Planet übernimmt keine Verpflichtung, seine zukunftsgerichteten Aussagen zu aktualisieren, um zukünftige Ereignisse widerzuspiegeln, es sei denn, dies ist nach geltendem Recht erforderlich.


Die Ausgangssprache, in der der Originaltext veröffentlicht wird, ist die offizielle und autorisierte Version. Übersetzungen werden zur besseren Verständigung mitgeliefert. Nur die Sprachversion, die im Original veröffentlicht wurde, ist rechtsgültig. Gleichen Sie deshalb Übersetzungen mit der originalen Sprachversion der Veröffentlichung ab.

Originalversion auf businesswire.com ansehen: https://www.businesswire.com/news/home/20260325118848/de/
Planet Presse

Rachel Cassells

press@planet.com


Planet Investorenbeziehungen

Cleo Palmer-Poroner

ir@planet.com


Original: Planet treibt europäische Expansion mit wichtigen Stellenangeboten für neues Produktionswerk in Berlin voran

Planet Accelerates European Expansion with Key Job Openings for New Berlin Manufacturing FacilityMarch 25, 2026 4:03 AM
Business Wire
Recruitment phase marks the next milestone in Planet’s long-term investment in Germany, strengthening Europe’s sovereign space capabilities and industrial ecosystem


Planet Labs Germany, a leading provider of daily data and insights about change on Earth, today announced it has begun recruiting highly-skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin. This recruitment phase marks an important milestone in Planet’s strategic expansion of its European manufacturing footprint.


Planet builds and operates the largest fleet of commercial Earth observation satellites in history. The Berlin facility will double the production capacity of its next-generation, high-resolution Pelican fleet, while reinforcing Germany’s role as a hub for advanced aerospace engineering and strengthening Europe’s access to sovereign, AI-enabled Earth observation capabilities.


These positions include high-level leadership and specialized technical roles essential to the facility’s success, including director of manufacturing, mission director for constellation services and multiple engineering roles. With hiring beginning in 2026, Planet is expected to add up to 70 new employees to its existing team of about 150 in Berlin.


“Berlin is a global epicenter for high-tech innovation, and we are eager to tap into the region’s highly skilled talent pool to lead our newest manufacturing chapter,” said Martin Polak, Managing Director of Planet Labs Germany. “By scaling our team here, we are strengthening the European space ecosystem and ensuring our partners have sovereign access to the AI-enabled global insights required for security and sustainability. This hiring push reinforces our long-term commitment to Germany as a driver of industrial competence and aerospace excellence.”


Berlin has served as Planet’s European headquarters for over 10 years, acting as the Mission Control center for its global fleet of about 200 satellites. This growth further strengthens Planet’s ties with its robust ecosystem of German customers and partners, including major industry leaders and employees of more than 400 German federal institutions. The new manufacturing facility builds on this longstanding presence and represents the next phase of Planet’s growth in Germany.


Interested candidates can visit Planet’s careers page to view current opportunities. Additional positions in manufacturing, operations and professional services will become available throughout 2026.


About Planet


Planet Labs Germany is part of the Planet group and is based at Planet’s European headquarters in Berlin. Planet Labs PBC (NYSE: PL) is the parent company of the Planet group with global headquarters in San Francisco, USA. Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.


Forward-looking Statements


Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about Planet’s strategic partnerships and Planet’s future growth in new and existing markets. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.


 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260325460913/en/
Planet Press

Rachel Cassells

press@planet.com


Planet Investor Relations

Cleo Palmer-Poroner

ir@planet.com


Original: Planet Accelerates European Expansion with Key Job Openings for New Berlin Manufacturing Facility

Planet Reports Financial Results for Fourth Quarter and Full Fiscal Year 2026March 19, 2026 4:05 PM
Business Wire
Delivered Record Annual Revenue of $308 Million


Increased RPOs +106% YoY to $852 Million; Backlog +79% YoY to over $900 Million


Generated $134 Million of Net Cash Provided by Operating Activities and $53 Million Free Cash Flow in FY26


End of Period Cash, Cash Equivalents, and Short-Term Investments Increased 188% YoY to $640 Million


Planet Labs PBC (NYSE: PL) (“Planet” or the “Company”), a leading provider of daily data and insights about change on Earth, today announced financial results for the period ended January 31, 2026.


“Planet had a transformational year driven by strong momentum in satellite services, including most recently with Sweden, as well as launching 40 satellites, and inking an R&D partnership with Google to explore data centers in space,” said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. “We delivered record revenue, with Q4 growing 41% year-on-year, and ended the year with $900 million of backlog, representing 79% growth year-on-year. With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond. Consequently we’re leaning in and investing in the huge market opportunity in front of us. Just as satellite services were transformative last year, we expect AI to be transformative this year, enabling us to unlock massive markets even faster. In all, we’re playing to win.”


Ashley Johnson, Planet’s President and Chief Financial Officer, added, “We delivered record revenue, our first fiscal year of Adjusted EBITDA and free cash flow profitability, and closed the year with $640 million of cash, cash equivalents, and short-term investments.” Ms. Johnson continued, “Achieving these major milestones is a direct reflection of the hard work and dedication of our global teams. Their unwavering commitment to delivering innovative solutions and exceptional value for our customers has strengthened our financial foundation and positioned us for sustainable, profitable growth.”


Fiscal Fourth Quarter and Full Year 2026 Financial and Key Metric Highlights:



Fourth quarter revenue increased 41% year-over-year to a record $86.8 million.



Full year revenue increased 26% year-over-year to a record $307.7 million.



Percent of recurring annual contract value (ACV) was 98% as of the end of fiscal year 2026.



Fourth quarter gross margin was 54%, compared to 62% in the fourth quarter of fiscal year 2025. Fourth quarter non-GAAP gross margin was 57%, compared to 65% in the fourth quarter of fiscal year 2025.



Full year gross margin was 56%, compared to 57% in fiscal year 2025. Full year non-GAAP gross margin was 59%, compared to 60% in fiscal year 2025.



Fourth quarter net loss was ($152.5) million, compared to ($35.2) million in the fourth quarter of fiscal year 2025. The fourth quarter of fiscal year 2026 net loss included an approximate ($122.6) million revaluation loss from the change in fair value of warrant liabilities related to stock price appreciation during the period.



Full year net loss was ($246.9) million, compared to ($123.2) million in fiscal year 2025. Full year net loss included an approximate ($161.4) million revaluation loss from the change in fair value of warrant liabilities during the fiscal year 2026 related to stock price appreciation during the period.



Fourth quarter adjusted EBITDA profit was $2.3 million, compared to $2.4 million in the fourth quarter of fiscal year 2025.



Full year adjusted EBITDA profit was $15.5 million, compared to a ($10.6) million loss in fiscal year 2025.



Fourth quarter GAAP net loss per share was ($0.48) and non-GAAP net loss per share was ($0.00). Fourth quarter GAAP net loss per share included an approximate ($0.39) impact from the change in fair value of warrant liabilities related to stock price appreciation during the period.



Full year GAAP net loss per share was ($0.80) and non-GAAP net loss per share was ($0.04). Full year GAAP net loss per share included an approximate ($0.52) impact from the change in fair value of warrant liabilities related to stock price appreciation during the period.



Full year net cash provided by operating activities was $134.4 million, and full year free cash flow was $52.9 million.



Ended the quarter with $640.1 million in cash, cash equivalents and short-term investments.



Please see “Planet’s Use of Non-GAAP Financial Measures” below for a discussion on how Planet calculates the non-GAAP financial measures presented herein. In addition, reconciliations to the most directly comparable U.S. GAAP financial measures are provided in the tables at the end of this release.


Recent Business Highlights:


Growing Customer and Partner Relationships



Swedish Armed Forces: During the quarter, Planet was awarded a multi-year, low nine-figure agreement by Sweden to rapidly deliver a suite of satellites, space-based data and awareness solutions to support the country’s peace and security operations. This agreement marked Planet’s third satellite services contract in twelve months.



U.S. Defense Innovation Unit (DIU): During the quarter, DIU awarded Planet a seven-figure extension of its pilot in support of the U.S. Indo-Pacific Command (INDOPACOM), which is designed to deliver vital indications and warnings. The short-term contract demonstrates how customers can leverage Planet data and AI-powered analytics to monitor sites of strategic interest for critical changes and threats.



U.S. Defense Innovation Unit (DIU): DIU also exercised an option during the quarter under its existing Hybrid Space Architecture (HSA) pilot with Planet for just under $1 million. The short-term contract is to demonstrate the cutting-edge capabilities of Planet's next generation high-resolution Pelican satellites.



NATO: During the quarter, Allied Command Transformation, NATO’s Strategic Warfare Development Command, maintained its selection of Planet to deliver persistent space-based surveillance and enhanced indications and warnings capabilities. This seven-figure agreement reinforces NATO's commitment to maintaining a technological edge through advanced daily monitoring. The contract extension underscores Planet’s position as a trusted and essential partner for customers seeking to bolster their strategic capabilities.



German Federal Agency for Cartography and Geodesy (BKG): During the quarter, Planet was awarded a seven-figure renewal and expansion by BKG. Under the renewal, BKG will continue its country-wide partnership through which employees of more than 400 German federal institutions can gain access to Planet’s data to help promote public and civil safety throughout the entire Federal Republic of Germany. BKG has expanded its access to track permafrost thawing across the Arctic.



Slovenia: In January, Planet announced an enterprise-scale agreement with the Surveying and Mapping Authority of the Republic of Slovenia (GURS) to provide comprehensive satellite data and high-resolution tasking capabilities across the country’s civil public administration in support of agriculture, urban planning, and disaster management.



SHIELD IDIQ: In February, the U.S. Department of War’s Missile Defense Agency selected Planet as a Prime contractor for the Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) indefinite-delivery/indefinite-quantity (IDIQ) contract vehicle. Planet will now compete for awards under the program.



San Diego Gas & Electric (SDG&E): During the quarter, Planet was awarded a 3-year renewal by SDG&E. Through its long-term relationship with Planet, SDG&E has pioneered the integration of Planet’s high-cadence satellite data directly into its wildfire risk models and operational decision-making, paying dividends as the organization navigates increasingly dynamic climate and vegetation conditions across Southern California.



AiDASH: During the quarter, Planet signed a strategic partnership with AiDASH, becoming the preferred provider of daily and weekly fuel monitoring data for utility wildfire risk mitigation across North America. The partnership is already generating commercial traction: leading investor-owned utilities are actively using Planet's data to identify where and when to deploy fuel treatment resources — reducing ignition risk and targeting high-priority clearance with precision that was not previously possible.



Financial Outlook


For the first quarter of fiscal year 2027, ending April 30, 2026, Planet expects revenue to be in the range of approximately $87 million to $91 million. Non-GAAP gross margin is expected to be in the range of approximately 49% to 51%. Adjusted EBITDA loss is expected to be in the range of approximately ($6) million to ($3) million for the quarter. Capital expenditures are expected to be in the range of approximately $17 million and $23 million for the quarter.


For the full fiscal year 2027, Planet expects revenue to be in the range of approximately $415 million to $440 million. Non-GAAP gross margin is expected to be in the range of approximately 50% to 52%. Adjusted EBITDA profit is expected to be in the range of approximately $0 and $10 million. Capital expenditures are expected to be in the range of approximately $80 million and $95 million for the year.


Planet has not reconciled its non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses, change in fair value of warrant liabilities, and depreciation and amortization are uncertain or out of Planet’s control and cannot be reasonably predicted. The actual amount of these expenses during the first quarter of fiscal year 2027 and full fiscal year 2027 will have a significant impact on Planet’s future GAAP financial results. Accordingly, a reconciliation of Planet’s non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts.


The foregoing forward-looking statements reflect Planet’s expectations as of today’s date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially.


Webcast and Conference Call Information


Planet will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT today, March 19, 2026. The webcast can be accessed at http://www.planet.com/investors/. The webcast replay will be available at the same location approximately two hours following the event and will remain accessible for at least 1 year. If you would prefer to register for the conference call, please go to the following link: https://events.q4inc.com/attendee/653725831. You will then receive your access details via email.


Additionally, a supplemental presentation has been provided on Planet’s investor relations page.


About Planet Labs PBC


Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter) or tune in to HBO’s ‘Wild Wild Space.’


Channels for Disclosure of Information


Planet intends to announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investors.planet.com) and its blog (planet.com/pulse) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. It is possible that the information Planet posts on its website could be deemed to be material information. As such, Planet encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.


Planet’s Use of Non-GAAP Financial Measures


This press release includes non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described further below, non-GAAP loss from operations, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, adjusted EBITDA, backlog and free cash flow, which are non-GAAP measures the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company includes these non-GAAP financial measures because they are used by management to evaluate the Company’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments.


Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from the Company’s. Further, certain of the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for the Company and an important part of its compensation strategy.


Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP gross profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, and employer payroll taxes related to earnout share vesting. The Company defines non-GAAP gross margin as non-GAAP gross profit divided by revenue.


Non-GAAP Expenses: The Company defines and calculates non-GAAP cost of revenue, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, and non-GAAP general and administrative expenses as, in each case, the corresponding U.S. GAAP financial measure (cost of revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses) adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employer payroll taxes related to earnout share vesting, that are classified within each of the corresponding U.S. GAAP financial measures.


Non-GAAP Loss from Operations: The Company defines and calculates non-GAAP loss from operations as loss from operations adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employer payroll taxes related to earnout share vesting.


Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Diluted Share: The Company defines and calculates non-GAAP net income (loss) as net loss adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expense, employer payroll taxes related to earnout share vesting, change in fair value of warrant liabilities, and the income tax effects of the non-GAAP adjustments. The Company defines and calculates non-GAAP net income (loss) per diluted share as non-GAAP net income (loss) divided by diluted weighted-average common shares outstanding.


Adjusted EBITDA: The Company defines and calculates adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax provision and depreciation and amortization, and further adjusted for the following items: stock-based compensation, change in fair value of warrant liabilities, other income (expense), net, restructuring costs, certain litigation expenses, and employer taxes related to earnout share vesting.


The Company presents non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described above, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per diluted share and adjusted EBITDA because the Company believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet’s industry and facilitates comparisons on a consistent basis across reporting periods. Further, the Company believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of the Company’s core operating performance.


Backlog: The Company defines and calculates backlog as remaining performance obligations plus the cancelable portion of the contract value for contracts that provide the customer with a right to terminate for convenience without incurring a substantive termination penalty and written orders where funding has not been appropriated. Backlog does not include unexercised contract options. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. Remaining performance obligations do not include contracts which provide the customer with a right to terminate for convenience without incurring a substantive termination penalty, written orders where funding has not been appropriated and unexercised contract options.


An increasing and meaningful portion of the Company’s revenue is generated from contracts with the U.S. government and other government customers. Cancellation provisions, such as termination for convenience clauses, are common in contracts with the U.S. government and certain other government customers. The Company presents backlog because the portion of its customer contracts with such cancellation provisions represents a meaningful amount of the Company’s expected future revenues. Management uses backlog to more effectively forecast the Company’s future business and results, which supports decisions around capital allocation. It also helps the Company identify future growth or operating trends that may not otherwise be apparent. The Company also believes backlog is useful for investors in forecasting the Company’s future results and understanding the growth of its business. Customer cancellation provisions relating to termination for convenience clauses and funding appropriation requirements are outside of the Company’s control, and as a result, the Company may fail to realize the full value of such contracts.


Free Cash Flow: The Company defines and calculates free cash flow as cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs.


The Company presents free cash flow because it believes free cash flow provides useful supplemental information to help investors understand underlying trends in the Company’s business and liquidity. Management uses free cash flow, in addition to GAAP measures, to help manage our business, prepare budgets, and for annual planning.


Rule of 40: The Company defines and calculates Rule of 40 as the sum of year-over-year revenue growth and Adjusted EBITDA margin as a percent of revenue. The Company may refer to a “Rule of” number other than 40 to refer to the sum of revenue growth and Adjusted EBITDA margin as a percent of revenue for the period given.


Other Key Metrics


ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates annual contract value (“ACV”) for contracts of one year or greater as the total amount of value that a customer has contracted to pay for the most recent 12 month period for the contract. ACV includes imagery licensing arrangements, data solutions, and dedicated image tasking capacity but excludes customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users, as well as the value of any satellite services contracts. For short-term contracts (contracts less than 12 months), ACV is equal to total contract value.


The Company also calculates EoP ACV book of business in connection with the calculation of several of the key operational and business metrics we utilize. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform self-service paying users, as well as the value of any satellite services contracts. Active contracts exclude any contract that has been canceled, expired prior to the last day of the period without renewing, or for any other reason is not expected to generate revenue in the subsequent period. For contracts ending on the last day of the period, the ACV is either updated to reflect the ACV of the renewed contract or, if the contract has not yet renewed or extended, the ACV is excluded from the EoP ACV book of business. The Company does not annualize short-term contracts in calculating its EoP ACV book of business. The Company calculates the ACV of usage-based contracts based on the committed contracted revenue or the revenue achieved on the usage-based contract in the prior 12-month period.


Percent of Recurring ACV: Percent of recurring ACV is the portion of the total EoP ACV book of business that is recurring in nature. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts. ACV includes imagery licensing arrangements, data solutions, and dedicated image tasking capacity but excludes customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users, as well as the value of any satellite services contracts. The Company defines percent of recurring ACV as the dollar value of all data subscription contracts and the committed portion of usage-based contracts (excluding customers that are exclusively Planet Insights Platform self-service paying users) divided by the total dollar value of all contracts in our EoP ACV book of business. The Company believes percent of recurring ACV is useful to investors to better understand how much of the Company’s revenue is from customers that have the potential to renew their contracts over multiple years rather than being one-time in nature. The Company tracks percent of recurring ACV to inform estimates for the future revenue growth potential of our business and improve the predictability of our financial results. There are no significant estimates underlying management’s calculation of percent of recurring ACV, but management applies judgment as to which customers have an active contract at a period end for the purpose of determining EoP ACV book of business, which is used as part of the calculation of percent of recurring ACV.


EoP Customer Count: The Company defines EoP customer count as the total count of all existing customers at the end of the period excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users. For EoP customer count, the Company defines existing customers as customers with an active contract with the Company at the end of the reported period. For the purpose of this metric, the Company defines a customer as a distinct entity that uses the Company’s data or services. The Company sells directly to customers, as well as indirectly through its partner network. If a partner does not provide the end customer’s name, then the partner is reported as the customer. Each customer, regardless of the number of active opportunities with the Company, is counted only once. For example, if a customer utilizes multiple products of Planet, the Company only counts that customer once for purposes of EoP customer count. A customer with multiple divisions, segments, or subsidiaries are also counted as a single unique customer based on the parent organization or parent account. For EoP customer count, the Company does not include users that only utilize the Company’s self-service Planet Insights Platform web based ordering system, which the Company acquired in August 2023, and which offers standard starter packages on a monthly or annual basis. Management applies judgment as to which customers are deemed to have an active contract in a period, as well as whether a customer is a distinct entity that uses the Company’s data or services.


Our business has recently evolved to focus the efforts of our direct sales team on large customer opportunities and to increasingly leverage our self-service Planet Insights Platform to provide access to our data for customers (of whom are not included in EoP Customer Count because they exclusively utilize our self-serve model). As a result, EoP Customer Count has become less meaningful as a business metric. Therefore, beginning in the first quarter of the fiscal year ending January 31, 2027, we will no longer report EoP Customer Count as a key business metric.


Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. The Company defines capital expenditures as a percentage of revenue as the total amount of capital expenditures divided by total revenue in the reported period. Capital expenditures as a percentage of revenue is a performance measure that we use to evaluate the appropriate level of capital expenditures needed to support demand for the Company’s data services and related revenue, and to provide a comparable view of the Company’s performance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. The Company uses an agile space systems strategy, which means we invest in a larger number of significantly lower cost satellites and software infrastructure to automate the management of the satellites and to deliver the Company’s data to clients. As a result of the Company’s strategy and business model, the Company’s capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, the Company believes it is important to look at the level of capital expenditure investments relative to revenue when evaluating the Company’s performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. The Company believes capital expenditures as a percentage of revenue is a useful metric for investors because it provides visibility to the level of capital expenditures required to operate the Company and the Company’s relative capital efficiency.


Net Dollar Retention Rate: The Company defines Net Dollar Retention Rate as the percentage of ACV generated by existing customers in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company defines existing customers as customers with an active contract with the Company. The Company believes Net Dollar Retention Rate is a useful metric for investors as it can be used to measure its ability to retain and grow revenue generated from its existing customers, on which its ability to drive long-term growth and profitability is, in part, dependent. The Company uses Net Dollar Retention Rate to assess customer adoption of new products, inform opportunities to make improvements across its products, identify opportunities to improve operations, and manage go to market functions, as well as to understand how much future growth may come from cross-selling and up-selling customers. Management applies judgment in determining the value of active contracts in a given period, as set forth in the definition of ACV.


Net Dollar Retention Rate including Winbacks: The Company assesses two metrics for net dollar retention–Net Dollar Retention Rate, as described above, and Net Dollar Retention Rate including winbacks. A winback is a previously existing customer that was inactive at the start of the measurement period but has reactivated during the measurement period. The reactivation period must be within 24 months from the last active contract with the customer; otherwise, the customer is counted as a new customer and therefore excluded from the retention rate metrics. The Company defines Net Dollar Retention Rate including winbacks as the percentage of ACV generated by existing customers and winbacks in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company believes this metric is useful to investors as it captures the value of customer contracts that resume business with the Company after being inactive and thereby provides a quantification of the Company’s ability to recapture lost business. Management uses this metric to understand the adoption of our products and long-term customer retention, as well as the success of marketing campaigns and sales initiatives in re-engaging inactive customers. Beyond the judgments underlying managements’ calculation of Net Dollar Retention Rate set forth above, there are no additional assumptions or estimates made in connection with Net Dollar Retention Rate including winbacks.


Forward-looking Statements


This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Planet’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “target,” “anticipate,” “intend,” “develop,” “evolve,” “plan,” “seek,” “may,” “will,” “could,” “can,” “should,” “would,” “believes,” “predicts,” “potential,” “strategy,” “opportunity,” “aim,” “conviction,” “continue,” “positioned,” “structured” or the negative of these words or other similar terms or expressions that concern Planet’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding Planet’s financial guidance and outlook, expected financial and operating results, the expected value of contracts that Planet has entered into and the timing and amount of revenue that Planet will recognize, Planet’s growth opportunities, Planet’s expectations regarding future product development and performance, including with respect to AI, Planet’s expectations regarding the launch and operations of its satellites, including with respect to timing, and Planet’s expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding Planet’s ability to forecast Planet’s performance due to Planet’s limited operating history. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Planet’s filings with the Securities and Exchange Commission (“SEC”), including Planet’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent filings with the SEC that Planet may make. All forward-looking statements reflect Planet’s beliefs and assumptions only as of the date of this press release. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Planet’s results for the fourth quarter and full year ended January 31, 2026, are not necessarily indicative of its operating results for any future periods.






 



PLANET








CONSOLIDATED BALANCE SHEETS










 



 






 






January 31,








(in thousands)






 






2026






 






2025








Assets






 






 






 






 






 






 








Current assets






 






 






 






 






 






 








Cash and cash equivalents






 






$






229,441






 






 






$






118,048






 








Restricted cash and cash equivalents, current






 






 






642






 






 






 






6,598






 








Short-term investments






 






 






410,649






 






 






 






104,027






 








Accounts receivable, net






 






 






83,528






 






 






 






55,833






 








Inventories






 






 






6,118






 






 






 






—






 








Prepaid expenses and other current assets






 






 






44,984






 






 






 






17,719






 








Total current assets






 






 






775,362






 






 






 






302,225






 








Property and equipment, net






 






 






150,573






 






 






 






121,749






 








Capitalized internal-use software, net






 






 






21,475






 






 






 






18,974






 








Goodwill






 






 






143,452






 






 






 






136,349






 








Intangible assets, net






 






 






26,633






 






 






 






27,452






 








Restricted cash and cash equivalents, non-current






 






 






5,471






 






 






 






5,348






 








Operating lease right-of-use assets






 






 






14,588






 






 






 






19,752






 








Other non-current assets






 






 






8,132






 






 






 






1,947






 








Total assets






 






$






1,145,686






 






 






$






633,796






 








Liabilities and Stockholders’ Equity






 






 






 






 






 






 








Current liabilities






 






 






 






 






 






 








Accounts payable






 






$






10,612






 






 






$






2,604






 








Accrued and other current liabilities






 






 






55,874






 






 






 






42,600






 








Deferred revenue






 






 






220,572






 






 






 






82,275






 








Liability from early exercise of stock options






 






 






1,793






 






 






 






5,378






 








Operating lease liabilities, current






 






 






7,296






 






 






 






9,221






 








Public and private placement warrant liabilities






 






 






173,308






 






 






 






—






 








Total current liabilities






 






 






469,455






 






 






 






142,078






 








Deferred revenue






 






 






27,522






 






 






 






11,182






 








Deferred hosting costs






 






 






4,034






 






 






 






5,368






 








Public and private placement warrant liabilities






 






 






—






 






 






 






18,077






 








Operating lease liabilities, non-current






 






 






8,300






 






 






 






12,392






 








Contingent consideration






 






 






—






 






 






 






2,883






 








Convertible notes






 






 






446,884






 






 






 






—






 








Other non-current liabilities






 






 






1,060






 






 






 






530






 








Total liabilities






 






 






957,255






 






 






 






192,510






 








Stockholders’ equity






 






 






 






 






 






 








Common stock






 






 






34






 






 






 






28






 








Additional paid-in capital






 






 






1,631,896






 






 






 






1,645,356






 








Accumulated other comprehensive income (loss)






 






 






6,362






 






 






 






(1,097






)








Accumulated deficit






 






 






(1,449,861






)






 






 






(1,203,001






)








Total stockholders’ equity






 






 






188,431






 






 






 






441,286






 








Total liabilities and stockholders’ equity






 






$






1,145,686






 






 






$






633,796






 















 




PLANET








CONSOLIDATED STATEMENTS OF OPERATIONS













 



 







Three Months Ended

January 31,







Year Ended

January 31,








(in thousands, except share and per share amounts)







2026







2025







2026







2025








Revenue







$






86,822






 







$






61,554






 







$






307,727






 







$






244,352






 








Cost of revenue







 






39,792






 







 






23,339






 







 






135,242






 







 






104,627






 








Gross profit







 






47,030






 







 






38,215






 







 






172,485






 







 






139,725






 








Operating expenses







 






 







 






 







 






 







 






 








Research and development







 






32,193






 







 






22,951






 







 






106,749






 







 






101,006






 








Sales and marketing







 






20,005






 







 






15,681






 







 






72,676






 







 






77,694






 








General and administrative







 






30,834






 







 






18,949






 







 






88,133






 







 






77,147






 








Total operating expenses







 






83,032






 







 






57,581






 







 






267,558






 







 






255,847






 








Loss from operations







 






(36,002






)







 






(19,366






)







 






(95,073






)







 






(116,122






)








Interest income







 






5,859






 







 






1,965






 







 






14,329






 







 






10,257






 








Interest expense







 






(1,591






)







 






(277






)







 






(3,436






)







 






(832






)








Change in fair value of warrant liabilities







 






(122,635






)







 






(16,242






)







 






(161,400






)







 






(15,116






)








Other income (expense), net







 






4,360






 







 






(138






)







 






3,375






 







 






1,077






 








Total other income (expense), net







 






(114,007






)







 






(14,692






)







 






(147,132






)







 






(4,614






)








Loss before provision for income taxes







 






(150,009






)







 






(34,058






)







 






(242,205






)







 






(120,736






)








Provision for income taxes







 






2,446






 







 






1,096






 







 






4,655






 







 






2,460






 








Net loss







$






(152,455






)







$






(35,154






)







$






(246,860






)







$






(123,196






)








Basic and diluted net loss per share attributable to common stockholders







$






(0.48






)







$






(0.12






)







$






(0.80






)







$






(0.42






)








Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders







 






317,367,643






 







 






296,441,988






 







 






307,799,424






 







 






292,124,291






 























 




PLANET








CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS













 



 







Three Months Ended

January 31,






 






Year Ended

January 31,








(in thousands)







2026






 






2025






 






2026






 






2025








Net loss







$






(152,455






)







$






(35,154






)







$






(246,860






)







$






(123,196






)








Other comprehensive income (loss), net of tax:







 






 







 






 







 






 







 






 








Foreign currency translation adjustment







 






1,633






 







 






(2,422






)







 






7,186






 







 






(2,581






)








Change in fair value of available-for-sale securities







 






271






 







 






(22






)







 






273






 







 






(110






)








Other comprehensive income (loss), net of tax







 






1,904






 







 






(2,444






)







 






7,459






 







 






(2,691






)








Comprehensive loss







$






(150,551






)







$






(37,598






)







$






(239,401






)







$






(125,887






)























 




PLANET








CONSOLIDATED STATEMENTS OF CASH FLOWS









 



 






 






Year Ended January 31,








(in thousands)






 






2026






 






2025








Operating activities






 






 






 






 






 






 








Net loss






 






$






(246,860






)






 






$






(123,196






)








Adjustments to reconcile net loss to net cash used in operating activities






 






 






 






 






 






 








Depreciation and amortization






 






 






41,825






 






 






 






45,637






 








Stock-based compensation, net of capitalized cost






 






 






54,995






 






 






 






48,485






 








Change in fair value of warrant liabilities






 






 






161,400






 






 






 






15,116






 








Change in fair value of contingent consideration






 






 






465






 






 






 






3,437






 








Other






 






 






1,225






 






 






 






(920






)








Changes in operating assets and liabilities






 






 






 






 






 






 








Accounts receivable






 






 






(30,225






)






 






 






(11,984






)








Inventories






 






 






(609






)






 






 






—






 








Prepaid expenses and other assets






 






 






(11,138






)






 






 






8,366






 








Accounts payable, accrued and other liabilities






 






 






13,800






 






 






 






(13,337






)








Deferred revenue






 






 






151,054






 






 






 






15,572






 








Deferred hosting costs






 






 






(1,570






)






 






 






(1,550






)








Net cash provided by (used in) operating activities






 






 






134,362






 






 






 






(14,374






)








Investing activities






 






 






 






 






 






 








Purchases of property and equipment






 






 






(76,714






)






 






 






(44,297






)








Capitalized internal-use software






 






 






(4,783






)






 






 






(5,322






)








Maturities of available-for-sale securities






 






 






90,009






 






 






 






61,396






 








Sales of available-for-sale securities






 






 






33,229






 






 






 






192,522






 








Purchases of available-for-sale securities






 






 






(428,008






)






 






 






(140,240






)








Business acquisition, net of cash acquired






 






 






(5,400






)






 






 






(1,068






)








Purchases of licensed imagery intangible assets






 






 






(1,451






)






 






 






(4,785






)








Other






 






 






—






 






 






 






(300






)








Net cash provided by (used in) investing activities






 






 






(393,118






)






 






 






57,906






 








Financing activities






 






 






 






 






 






 








Proceeds from the exercise of common stock options






 






 






27,708






 






 






 






4,375






 








Payments for withholding taxes related to the net share settlement of equity awards






 






 






(72,729






)






 






 






(11,938






)








Proceeds from employee stock purchase program






 






 






2,802






 






 






 






1,549






 








Payments of contingent consideration for business acquisitions






 






 






(4,047






)






 






 






(8,783






)








Payment of indemnification holdback for business acquisition






 






 






(5,000






)






 






 






—






 








Proceeds from issuance of convertible notes, net of discount






 






 






448,759






 






 






 






—






 








Payment of debt issuance costs






 






 






(2,929






)






 






 






—






 








Proceeds from the exercise of warrants






 






 






4,845






 






 






 






—






 








Purchase of capped call transactions






 






 






(39,560






)






 






 






—






 








Other






 






 






(2,797






)






 






 






(738






)








Net cash provided by (used in) financing activities






 






 






357,052






 






 






 






(15,535






)








Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents






 






 






7,264






 






 






 






(201






)








Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents






 






 






105,560






 






 






 






27,796






 








Cash and cash equivalents, and restricted cash and cash equivalents at the beginning of the period






 






 






129,994






 






 






 






102,198






 








Cash and cash equivalents, and restricted cash and cash equivalents at the end of the period






 






$






235,554






 






 






$






129,994






 















 




PLANET








RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA













 



 







Three Months Ended

January 31,







Year Ended

January 31,








(in thousands)







2026







2025







2026







2025








Net loss







$






(152,455






)







$






(35,154






)







$






(246,860






)







$






(123,196






)








Interest income







 






(5,859






)







 






(1,965






)







 






(14,329






)







 






(10,257






)








Interest expense







 






1,591






 







 






277






 







 






3,436






 







 






832






 








Income tax provision







 






2,446






 







 






1,096






 







 






4,655






 







 






2,460






 








Depreciation and amortization







 






10,213






 







 






9,272






 







 






41,825






 







 






45,637






 








Change in fair value of warrant liabilities







 






122,635






 







 






16,242






 







 






161,400






 







 






15,116






 








Stock-based compensation







 






15,524






 







 






12,018






 







 






54,995






 







 






48,485






 








Restructuring costs (1)







 






—






 







 






50






 







 






20






 







 






10,574






 








Certain litigation expenses (2)







 






9,999






 







 






404






 







 






11,189






 







 






799






 








Employer payroll taxes related to earnout share vesting







 






2,539






 







 






—






 







 






2,539






 







 






—






 








Other income (expense), net







 






(4,360






)







 






138






 







 






(3,375






)







 






(1,077






)








Adjusted EBITDA







$






2,273






 







$






2,378






 







$






15,495






 







$






(10,627






)









(1)







As part of the 2024 headcount reduction, we recognized $10.6 million of severance and other employee costs for the fiscal year ended January 31, 2025. For the fiscal year ended January 31, 2025, the restructuring related stock-based compensation benefits of $1.4 million is included on its respective line item.








(2)







Expenses relating to the Delaware class action lawsuit and an acquisition-related dispute.









 




PLANET








RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES













 



 







Three Months Ended

January 31,







Year Ended

January 31,








(In thousands)







2026







2025







2026







2025








Reconciliation of cost of revenue:







 






 







 






 







 






 







 






 








GAAP cost of revenue







$






39,792






 







$






23,339






 







$






135,242






 







$






104,627






 








Less: Stock-based compensation







 






1,761






 







 






904






 







 






6,881






 







 






3,467






 








Less: Amortization of acquired intangible assets







 






821






 







 






705






 







 






2,933






 







 






3,003






 








Less: Employer payroll taxes related to earnout share vesting







 






303






 







 






—






 







 






303






 







 






—






 








Less: Restructuring costs







 






—






 







 






10






 







 






15






 







 






1,322






 








Non-GAAP cost of revenue







$






36,907






 







$






21,720






 







$






125,110






 







$






96,835






 








 







 






 







 






 







 






 







 






 








Reconciliation of gross profit:







 






 







 






 







 






 







 






 








GAAP gross profit







$






47,030






 







$






38,215






 







$






172,485






 







$






139,725






 








Add: Stock-based compensation







 






1,761






 







 






904






 







 






6,881






 







 






3,467






 








Add: Amortization of acquired intangible assets







 






821






 







 






705






 







 






2,933






 







 






3,003






 








Add: Employer payroll taxes related to earnout share vesting







 






303






 







 






—






 







 






303






 







 






—






 








Add: Restructuring costs







 






—






 







 






10






 







 






15






 







 






1,322






 








Non-GAAP gross profit







$






49,915






 







$






39,834






 







$






182,617






 







$






147,517






 








GAAP gross margin







 






54






%







 






62






%







 






56






%







 






57






%








Non-GAAP gross margin







 






57






%







 






65






%







 






59






%







 






60






%








 







 






 







 






 







 






 







 






 








Reconciliation of operating expenses:







 






 







 






 







 






 







 






 








GAAP research and development







$






32,193






 







$






22,951






 







$






106,749






 







$






101,006






 








Less: Stock-based compensation







 






6,414






 







 






4,505






 







 






19,401






 







 






16,625






 








Less: Employer payroll taxes related to earnout share vesting







 






1,134






 







 






—






 







 






1,134






 







 






—






 








Less: Restructuring costs







 






—






 







 






(3






)







 






—






 







 






3,461






 








Non-GAAP research and development







$






24,645






 







$






18,449






 







$






86,214






 







$






80,920






 








GAAP sales and marketing







$






20,005






 







$






15,681






 







$






72,676






 







$






77,694






 








Less: Stock-based compensation







 






2,062






 







 






1,873






 







 






8,015






 







 






8,736






 








Less: Amortization of acquired intangible assets







 






132






 







 






126






 







 






488






 







 






599






 








Less: Employer payroll taxes related to earnout share vesting







 






574






 







 






—






 







 






574






 







 






—






 








Less: Restructuring costs







 






—






 







 






49






 







 






6






 







 






4,506






 








Non-GAAP sales and marketing







$






17,237






 







$






13,633






 







$






63,593






 







$






63,853






 








GAAP general and administrative







$






30,834






 







$






18,949






 







$






88,133






 







$






77,147






 








Less: Stock-based compensation







 






5,287






 







 






4,736






 







 






20,698






 







 






19,657






 








Less: Amortization of acquired intangible assets







 






23






 







 






36






 







 






112






 







 






187






 








Less: Employer payroll taxes related to earnout share vesting







 






528






 







 






—






 







 






528






 







 






—






 








Less: Restructuring costs







 






—






 







 






(6






)







 






(1






)







 






1,285






 








Less: Certain litigation expenses







 






9,999






 







 






404






 







 






11,189






 







 






799






 








Non-GAAP general and administrative







$






14,997






 







$






13,779






 







$






55,607






 







$






55,219






 








 







 






 







 






 







 






 







 






 








Reconciliation of loss from operations







 






 







 






 







 






 







 






 








GAAP loss from operations







$






(36,002






)







$






(19,366






)







$






(95,073






)







$






(116,122






)








Add: Stock-based compensation







 






15,524






 







 






12,018






 







 






54,995






 







 






48,485






 








Add: Amortization of acquired intangible assets







 






976






 







 






867






 







 






3,533






 







 






3,789






 








Add: Employer payroll taxes related to earnout share vesting







 






2,539






 







 






—






 







 






2,539






 







 






—






 








Add: Restructuring costs







 






—






 







 






50






 







 






20






 







 






10,574






 








Add: Certain litigation expenses







 






9,999






 







 






404






 







 






11,189






 







 






799






 








Non-GAAP loss from operations







$






(6,964






)







$






(6,027






)







$






(22,797






)







$






(52,475






)























 




PLANET








RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES













 



 







Three Months Ended

January 31,






 






Year Ended

January 31,








(In thousands, except share and per share amounts)







2026






 






2025






 






2026






 






2025








Reconciliation of net loss







 






 







 






 







 






 







 






 








GAAP net loss







$






(152,455






)







$






(35,154






)







$






(246,860






)







$






(123,196






)








Add: Stock-based compensation







 






15,524






 







 






12,018






 







 






54,995






 







 






48,485






 








Add: Amortization of acquired intangible assets







 






976






 







 






867






 







 






3,533






 







 






3,789






 








Add: Employer payroll taxes related to earnout share vesting







 






2,539






 







 






—






 







 






2,539






 







 






—






 








Add: Restructuring costs







 






—






 







 






50






 







 






20






 







 






10,574






 








Add: Certain litigation expenses







 






9,999






 







 






404






 







 






11,189






 







 






799






 








Add: Change in fair value of warrant liabilities







 






122,635






 







 






16,242






 







 






161,400






 







 






15,116






 








Income tax effect of non-GAAP adjustments







 






(400






)







 






458






 







 






(400






)







 






(868






)








Non-GAAP net loss







$






(1,182






)







$






(5,115






)







$






(13,584






)







$






(45,301






)








 







 






 







 






 







 






 







 






 








Reconciliation of net loss per share, diluted







 






 







 






 







 






 







 






 








GAAP net loss







$






(152,455






)







$






(35,154






)







$






(246,860






)







$






(123,196






)








Non-GAAP net loss







$






(1,182






)







$






(5,115






)







$






(13,584






)







$






(45,301






)








 







 






 







 






 







 






 







 






 








GAAP net loss per share, basic and diluted (1)







$






(0.48






)







$






(0.12






)







$






(0.80






)







$






(0.42






)








Add: Stock-based compensation







 






0.05






 







 






0.04






 







 






0.18






 







 






0.17






 








Add: Amortization of acquired intangible assets







 






0.00






 







 






0.00






 







 






0.01






 







 






0.01






 








Add: Employer payroll taxes related to earnout share vesting







 






0.01






 







 






—






 







 






0.01






 







 






—






 








Add: Restructuring costs







 






—






 







 






0.00






 







 






0.00






 







 






0.04






 








Add: Certain litigation expenses







 






0.03






 







 






0.00






 







 






0.04






 







 






0.00






 








Add: Change in fair value of warrant liabilities







 






0.39






 







 






0.05






 







 






0.52






 







 






0.05






 








Income tax effect of non-GAAP adjustments







 






(0.00






)







 






0.00






 







 






(0.00






)







 






(0.00






)








Non-GAAP net loss per share, diluted (2) (3)







$






(0.00






)







$






(0.02






)







$






(0.04






)







$






(0.16






)








 







 






 







 






 







 






 







 






 








Weighted-average shares used in computing GAAP net loss per share, basic and diluted (1)







 






317,367,643






 







 






296,441,988






 







 






307,799,424






 







 






292,124,291






 








Weighted-average shares used in computing Non-GAAP net loss per share, diluted (2)







 






317,367,643






 







 






296,441,988






 







 






307,799,424






 







 






292,124,291






 









(1)







Basic and diluted GAAP net loss per share was the same for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive.






 








(2)







Non-GAAP net loss per share, diluted is calculated using weighted-average shares, adjusted for dilutive potential shares assumed outstanding during the period. No adjustment was made to weighted-average shares for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive.






 








(3)







Totals may not sum due to rounding. Figures are calculated based upon the respective underlying non-rounded data.






 










 


PLANET

RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES


The table below reconciles Backlog to remaining performance obligations for the periods indicated:




 






 






Year Ended January 31,








(in thousands)






 






2026






 






2025








Remaining performance obligations






 






$






852,435






 






 






$






412,829






 








Cancelable amount of contract value






 






 






47,992






 






 






 






90,920






 








Backlog






 






$






900,427






 






 






$






503,749






 







For remaining performance obligations as of January 31, 2026, the Company expects to recognize approximately 34% within the next 12 months, approximately 65% within the next 24 months, and the remainder thereafter. For Backlog as of January 31, 2026, the Company expects to recognize approximately 37% within the next 12 months, approximately 67% within the next 24 months, and the remainder thereafter.


PLANET

RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES


The table below reconciles free cash flow to net cash provided by (used in) operating activities for the periods indicated:




 






 






Year Ended January 31,








(in thousands)






 






2026






 






2025








Net cash provided by (used in) operating activities






 






$






134,362






 






 






$






(14,374






)








Purchases of property and equipment






 






 






(76,714






)






 






 






(44,297






)








Capitalized internal-use software






 






 






(4,783






)






 






 






(5,322






)








Free cash flow






 






$






52,865






 






 






$






(63,993






)







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260319782110/en/
Investor Contact

Cleo Palmer-Poroner

Planet Labs PBC

ir@planet.com
Press Contact

Trevor Hammond

Planet Labs PBC

comms@planet.com


Original: Planet Reports Financial Results for Fourth Quarter and Full Fiscal Year 2026