olivLaw · US equity research
Planet Labs PBC PL
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Planet Labs PBC (NYSE: PL) operates a satellite constellation that images the whole Earth's landmass every day and sells data and analytics through cloud subscriptions. The company reported a record quarter in summer 2026 with strong revenue growth, yet it is still not profitable on a GAAP basis, so the progress of its satellite services is a key point to follow. Full-year fiscal 2027 revenue guidance is between $430 million and $441 million, and the quarter ended July 2026 brought $116.1 million.
At the close of 04 Nov 2026, Planet Labs PBC (PL) stock was 12.65 USD (−6.37% on the day), with market capitalisation 3.3 bn USD, beta 2.33, 52-week range 11.16–51.40 USD. Latest reported quarter (Q2 2027): revenue of 116.1 m USD (+58.1% YoY), net income of -9.4 m USD, diluted EPS -0.03 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 34.5
- weak (30–45)
- Bollinger (20, 2)
- 11.74 – 16.70
- in the lower half of the band · %B 0.18 · band width 34.9%
- SMA 50 / 200
- 16.29 / 26.50
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.00 / -1.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −27.1% | −2.0% | −25.1 pp | — |
| 3 months | −43.4% | −2.2% | −41.2 pp | — |
| 6 months | −68.1% | +4.3% | −72.4 pp | — |
| Year to date | −35.9% | +10.6% | −46.4 pp | — |
| 1 year | −0.4% | +10.5% | −10.9 pp | −2.1% |
| 3 years | +454.8% | +73.7% | +381.2 pp | +52.1% |
| 5 years | +23.7% | +61.7% | −38.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 61.3 m | 61.6 m | 66.3 m | 73.4 m | 81.3 m | 86.8 m | 94.2 m | 116.1 m |
| Cost of revenue | 23.7 m | 23.3 m | 29.7 m | 31.1 m | 34.7 m | 39.8 m | 43.7 m | 50.4 m |
| Gross profit | 37.5 m | 38.2 m | 36.6 m | 42.3 m | 46.6 m | 47.0 m | 50.4 m | 65.6 m |
| Research & development | 25.2 m | 23.0 m | 23.1 m | 24.2 m | 27.3 m | 32.2 m | 33.4 m | 35.2 m |
| Operating income | -22.6 m | -19.4 m | -22.8 m | -18.0 m | -18.3 m | -36.0 m | -34.9 m | -13.5 m |
| Depreciation & amortisation | 10.1 m ≈ | 9.3 m | 11.1 m | 10.6 m ≈ | 9.9 m ≈ | 10.2 m | 11.2 m | 10.8 m ≈ |
| Interest expense | 277.0 k | 277.0 k | 499.0 k | 317.0 k | 1.0 m | 1.6 m | 1.4 m | 1.4 m |
| Pre-tax income | -20.1 m | -34.1 m | -11.7 m | -22.1 m | -58.4 m | -150.0 m | -137.9 m | -8.6 m |
| Income tax | 25.0 k | 1.1 m | 928.0 k | 497.0 k | 784.0 k | 2.4 m | 1.0 m | 733.0 k |
| Net income | -20.1 m | -35.2 m | -12.6 m | -22.6 m | -59.2 m | -152.5 m | -138.9 m | -9.4 m |
| Diluted EPS | -0.07 | -0.12 ≈ | -0.04 | -0.07 | -0.19 | -0.48 ≈ | -0.40 | -0.03 |
| Operating cash flow | 4.1 m ≈ | -6.3 m | 17.3 m | 67.8 m ≈ | 28.6 m ≈ | 20.6 m | 15.4 m | 52.9 m ≈ |
| Capex | 7.6 m ≈ | 11.6 m | 8.1 m | 20.3 m ≈ | 26.7 m ≈ | 21.6 m | 17.3 m | 27.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 95.7 m | 113.2 m | 131.2 m | 191.3 m | 220.7 m | 244.4 m | 307.7 m |
| Revenue YoY | unavailable | +18.2% | +15.9% | +45.8% | +15.4% | +10.7% | +25.9% |
| Net income | -123.7 m | -127.1 m | -137.1 m | -162.0 m | -140.5 m | -123.2 m | -246.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -2.89 | -2.87 | -1.72 | -0.61 | -0.50 | -0.42 | -0.80 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -129.2% | -112.3% | -104.5% | -84.7% | -63.7% | -50.4% | -80.2% |
| Free cash flow | -50.4 m | -30.1 m | -52.5 m | -84.4 m | -88.7 m | -58.7 m | 57.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 229.4 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 188.4 m USD
- Total assets
- 1.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.65x
- ROE
- -78.4%
- ROA
- -27.7%
- FCF margin
- 18.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 113.2 m | 131.2 m | 191.3 m | 220.7 m | 244.4 m | 307.7 m | SEC (XBRL)· 23 Mar 2026verified |
| Cost of revenue | 87.4 m | 83.0 m | 97.2 m | 107.7 m | 104.6 m | 135.2 m | SEC (XBRL)· 23 Mar 2026verified |
| Gross profit | 25.8 m | 48.2 m | 94.0 m | 113.0 m | 139.7 m | 172.5 m | SEC (XBRL)· 23 Mar 2026verified |
| Research & development | 43.8 m | 66.7 m | 110.9 m | 116.3 m | 101.0 m | 106.7 m | SEC (XBRL)· 23 Mar 2026verified |
| Operating income | -87.4 m | -128.1 m | -175.7 m | -169.7 m | -116.1 m | -95.1 m | SEC (XBRL)· 23 Mar 2026verified |
| Depreciation & amortisation | 62.2 m | 45.0 m | 43.3 m | 47.6 m | 45.6 m | 41.8 m | SEC (XBRL)· 23 Mar 2026verified |
| EBITDA | -25.2 m ≈ | -83.0 m ≈ | -132.3 m ≈ | -122.1 m ≈ | -70.5 m ≈ | -53.2 m ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Interest expense | 9.4 m | 8.8 m | 0 | 0 | 832.0 k | 3.4 m | SEC (XBRL)· 23 Mar 2026verified |
| Pre-tax income | -126.0 m | -135.0 m | -161.1 m | -139.7 m | -120.7 m | -242.2 m | SEC (XBRL)· 23 Mar 2026verified |
| Income tax | 1.1 m | 2.1 m | 847.0 k | 815.0 k | 2.5 m | 4.7 m | SEC (XBRL)· 23 Mar 2026verified |
| Net income | -127.1 m | -137.1 m | -162.0 m | -140.5 m | -123.2 m | -246.9 m | SEC (XBRL)· 23 Mar 2026verified |
| Diluted EPS | -2.87 | -1.72 | -0.61 | -0.50 | -0.42 | -0.80 | SEC (XBRL)· 23 Mar 2026verified |
| Weighted average diluted shares | 44.2 m | 79.6 m | 267.1 m | 279.6 m | 292.1 m | 307.8 m | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 71.2 m | 490.8 m | 181.9 m | 83.9 m | 118.0 m | 229.4 m | SEC (XBRL)· 23 Mar 2026verified |
| Receivables | 47.1 m | 44.4 m | 39.0 m | 43.3 m | 55.8 m | 83.5 m | SEC (XBRL)· 23 Mar 2026verified |
| Inventories | — | — | — | — | 0 | 6.1 m | SEC (XBRL)· 23 Mar 2026verified |
| Current assets | 125.4 m | 551.5 m | 475.7 m | 370.2 m | 302.2 m | 775.4 m | SEC (XBRL)· 23 Mar 2026verified |
| Property, plant & equipment, net | 159.9 m | 133.3 m | 108.1 m | 113.4 m | 121.7 m | 150.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Goodwill | 88.4 m | 103.2 m | 112.7 m | 136.3 m | 136.3 m | 143.5 m | SEC (XBRL)· 23 Mar 2026verified |
| Intangibles (excl. goodwill) | 5.7 m | 14.2 m | 14.8 m | 32.4 m | 27.5 m | 26.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Total assets | 399.3 m | 821.4 m | 752.7 m | 702.0 m | 633.8 m | 1.1 bn | SEC (XBRL)· 23 Mar 2026verified |
| Accounts payable | 1.4 m | 2.9 m | 6.9 m | 2.6 m | 2.6 m | 10.6 m | SEC (XBRL)· 23 Mar 2026verified |
| Current liabilities | 108.8 m | 132.0 m | 122.3 m | 136.6 m | 142.1 m | 469.5 m | SEC (XBRL)· 23 Mar 2026verified |
| Total liabilities | 291.8 m | 173.2 m | 176.6 m | 184.0 m | 192.5 m | 957.3 m | SEC (XBRL)· 23 Mar 2026verified |
| Equity | 107.5 m † | 648.2 m † | 576.1 m † | 518.0 m † | 441.3 m † | 188.4 m † | SEC (XBRL)· 23 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -4.0 m | -42.2 m | -73.9 m | -50.7 m | -14.4 m | 134.4 m | SEC (XBRL)· 23 Mar 2026verified |
| Capex | 26.1 m | 10.3 m | 10.4 m | 38.0 m | 44.3 m | 76.7 m | SEC (XBRL)· 23 Mar 2026verified |
| Free cash flow | -30.1 m ≈ | -52.5 m ≈ | -84.4 m ≈ | -88.7 m ≈ | -58.7 m ≈ | 57.6 m ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Investing cash flow | -30.8 m | -25.1 m | -242.3 m | -33.6 m | 57.9 m | -393.1 m | SEC (XBRL)· 23 Mar 2026verified |
| Financing cash flow | 83.9 m | 489.2 m | 7.9 m | -1.6 m | -15.5 m | 357.1 m | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.3 bn USD
Key indicators
Coverage and freshness
Score by group
72% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 55.4% | 39 (on a fixed band) | 15% |
| EBIT margin · Quality | -27.2% | 35 (vs peers) | 12% |
| FCF margin · Quality | 6.5% | 26 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | 17.2% | 69 (on a fixed band) | 24% |
| Revenue growth (YoY) · Growth | 25.9% | 65 (vs peers) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.8x | 100 (on a fixed band) | 9% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 0.7% | 15 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth67/100 · 2/2 factors with a value
- Quality34/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial15/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Planet Labs PBC (PL). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 307.7 m USD in 2026; YoY growth 25.9%; net margin -95.1%; ROE -72.0%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.8x
What contradicts it
- FCF margin: 6.5%
- FCF yield: 0.7%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 172.7 bn | 19.0 | 33.8% | 21.0% | +13.7% | −2% / +27% |
| MSIMotorola Solutions, Inc. | 81.3 bn | 38.7 | 92.0% | 17.4% | +8.0% | +33% / +52% |
| UIUbiquiti Inc. | 33.0 bn | 34.4 | 91.1% | 29.3% | +27.2% | −6% / +386% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | −0% / +455% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −10% / −34% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | +5% / +415% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −2% / +6% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −25% / −3% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −59% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
1- and 3-year price returns: for PL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Planet Labs PBC (NYSE: PL) operates a satellite constellation that images the whole Earth's landmass every day and sells data and analytics through cloud subscriptions. The company reported a record quarter in summer 2026 with strong revenue growth, yet it is still not profitable on a GAAP basis, so the progress of its satellite services is a key point to follow. Full-year fiscal 2027 revenue guidance is between $430 million and $441 million, and the quarter ended July 2026 brought $116.1 million.
SWOT
Strengths
- The company holds a unique historical archive that is hard to replicate, a significant competitive advantage 1.
- The recurring subscription model and one-to-many approach give predictable revenue and margins that can grow with scale 13.
- The financial position has strengthened after recent capital raises, giving flexibility for investment 3.
Weaknesses
Opportunities
- Security and defence contracts with US and European agencies could significantly expand activity 23.
- Natural-language AI tools could attract customers from industries with no geospatial background 2.
- Expanding manufacturing in Europe through the Berlin facility could support demand in the European market 3.
Risks
- Persistent net losseshigh
The company has not yet reached GAAP profitability, and if losses continue the value of the business could decline 1.
- Dependence on government contractshigh
Revenue relies heavily on contracts with governments and large enterprises, and disruptions to US government operations and funding could affect the business 1.
- Satellite and launch failuresmedium
Satellite failures or launch delays could affect service contracts and deliveries to customers 1.
- Competition and free public imagerymedium
Rising competition and government imagery offered for free could pressure prices and volumes 1.
- Cybersecurity riskmedium
Attacks on the company's systems or those of third-party providers could affect data and reputation 1.
Investment thesis
What would need to be true (bull case)
- Strong quarterly revenue growth and new government contracts could indicate that demand for space data is strengthening 3.
- A high share of recurring revenue and a unique image archive could support a stable long-term revenue base 13.
- If satellite services and AI tools develop as planned, margins could improve as the business scales 21.
What would break the thesis
- The company is not yet profitable on a GAAP basis, and heavy satellite investment could keep losses or capital spending high 13.
- Dependence on large, long government contracts with lengthy cycles makes revenue harder to predict 1.
- Competition from established operators, governments and new companies could reduce prices and market share 1.
What to watch
- Delivery against fiscal 2027 revenue guidance of $430 million to $441 millionfiscal 2027
- Trend in non-GAAP gross margin and adjusted EBITDA against guidanceQ3 2027
- Timing of the Tanager-2 and SuperDove launch and any delay2027
- Pace of capital expenditure and debt relative to cash balancenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Planet aims to use space to help life on Earth by imaging the world every day and turning global change into information that is visible, accessible and actionable 1. The company has built and operates hundreds of satellites and has created its own historical archive, with over 3,000 images on average for every point on the landmass 1. Beyond raw data, Planet produces AI-ready data sets and offers AI-enabled solutions, directly or through partners 1.
Revenue comes mainly from licences to data and analytics sold through fixed-price subscriptions and usage-based contracts, most of it recurring 1. The one-to-many model lets the same image be sold and analysed an unlimited number of times, so margins can improve with scale 1. A second stream is satellite services contracts, in which Planet builds and operates satellites owned by government or commercial customers over the long term 1.
In the quarter ended July 2026 the company cited a multi-year agreement with the Swedish Armed Forces to build and operate a Pelican satellite constellation, and announced new contracts with the US NGA and the German government 23. Its strategy is moving toward integrated solutions that combine AI analytics with sovereign satellite services, which could widen the customer base if execution holds 23.
Segments
Data and analytics (subscriptions)
This segment sells access to the daily image archive and change-detection analytics through the cloud platform and APIs, under subscriptions and usage contracts 1. As the most recurring stream, it supports the company's stable revenue base, and nearly all contracted revenue was recurring at the end of the second quarter of fiscal 2027 3.
Satellite services
This segment covers designing and manufacturing satellites for customers, mission systems engineering, launch procurement, ground station operations, satellite operations and maintenance, under long milestone-based contracts 1. Revenue is recognised more slowly and is harder to forecast, but large long-term contracts could increase its share over time 12.
Market context
The Earth observation market is driven by growing demand for security, digital transformation and sustainability, which require space data to arrive faster 1. Customers include agriculture, defence and intelligence, energy, forestry, finance, insurance, mapping and governments at all levels 1. The market is still maturing, and the company notes that its final size is uncertain 1.
Government demand is an important driver, but it is also a source of competition, since public programmes such as Landsat and Copernicus provide free imagery and may reduce the need for commercial suppliers 1. If those programmes expand, the value of commercial imagery could fall 1.
Trends
- Government demand for space datatailwind
Rising security and defence spending has brought large contracts with agencies and governments, including Sweden and Germany 23. If this continues, long-term contracts could support future revenue.
- AI as a demand drivertailwind
The company links AI-ready data and analytics to new products such as a natural-language agentic app, which could attract users without geospatial expertise 31.
- Free public imagery programmesheadwind
Government programmes that give away imagery can reduce the value of commercial data and pressure prices 1.
- Heavy investment in satellites and manufacturingmixed
Launches, construction and the Berlin factory expansion require large capital spending, which could squeeze margins if revenue growth lags 31.
Competitive position
Competition comes from established operators such as Airbus Defense and Space and Vantor Holdings, and from newer companies such as BlackSky, Satellogic and CG Satellite 1. Competitors are increasing in number, and many have greater financial and technical resources than Planet 1.
Competition also comes from governments selling commercial data, from large technology companies such as Apple, Google and Microsoft, and from high-resolution aerial imagery providers 1. The company sees its operating fleet and archive as an edge, but that advantage depends on execution 1.
- Airbus Defense and Space
Established satellite and imagery operator with very high-cost, very high-resolution satellites serving national governments 1.
- BlackSky Technology
Next-generation imagery company with lower-cost satellites and ambitions to expand its fleet, named as a direct rival 1.
- Satellogic
Next-generation imagery provider pursuing smaller, cheaper satellites in orbit 1.
- Vantor Holdings
Established imagery operator active in both government and commercial markets 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Planet Labs Stock Is Down 67% From Its High. Time To Buy?Yahoo Finance — News · 19 Sept 2026 · EN
- Planet Labs' 2026 Outlook: Government Contracts Power Revenue GrowthYahoo Finance — News · 13 Sept 2026 · EN
- Planet Labs Has Fallen Back to Earth, But Wall Street Still Sees a ReboundYahoo Finance — News · 13 Sept 2026 · EN
- Planet Labs (PL) Q2 2027 Earnings Call TranscriptYahoo Finance — News · 09 Sept 2026 · EN
- Planet Labs' Open Satellite FeedHacker News · 09 Sept 2026 · EN
- Planet Labs (PL) Reported 58% Revenue Growth. Can Backlog Conversion Sustain Profitability?Yahoo Finance — News · 09 Sept 2026 · EN
- Stock Market Today, Sept. 4: Planet Labs Dips 1% Despite Earnings Beat, Full-Year Guidance RaiseYahoo Finance — News · 04 Sept 2026 · EN
- Planet Labs PBC Q2 2027 Earnings Call SummaryYahoo Finance — News · 04 Sept 2026 · EN
- Planet Labs Shares Jump After Q2 Results Beat ExpectationsYahoo Finance — News · 04 Sept 2026 · EN
- Planet Labs vs. Snowflake: Evaluating the Better High-Growth Stock to Buy for 2026Yahoo Finance — News · 04 Sept 2026 · EN
- Planet Labs Sinks 8% Despite New Defense Contract, Intuitive Machines Pulls Back, AST SpaceMobile Sits Out Broad-Market RallyYahoo Finance — News · 03 Sept 2026 · EN
- Jobs, Broadcom, Dell, Hewlett, Planet Labs, and More to Watch This WeekYahoo Finance — News · 30 Aug 2026 · EN
SEC filings
- Quarterly report03 Sept 2026
- Current report03 Sept 2026Results of operations · Financial statements and exhibits
- Current report10 Jul 2026Shareholder vote
- Current report05 Jun 2026Material agreement · Financial statements and exhibits
- Quarterly report05 Jun 2026
- Current report04 Jun 2026Results of operations · Financial statements and exhibits
- Proxy statement27 May 2026
- Current report04 May 2026Other events · Financial statements and exhibits
- Current report27 Mar 2026Other events · Financial statements and exhibits
- Annual report23 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / Planet Labs PBC · 23 Mar 2026
- [2] Form 10-Q, quarter ended 2026-07-31 · SEC / Planet Labs PBC · 03 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Planet Labs PBC · 03 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.