Planet Labs posts record Q2 revenue of $116M, up 58% YoY

Source: Motley Fool Transcribing, The Motley Fool Date of Call: Thursday, Sept. 3, 2026 — 5:00 PM ET Read Time: 54 minutes

Stock Performance: PL -3.08%

Call Participants

• Cleo Palmer-Poroner — Director of Investor Relations
• William Marshall — CEO, Chairperson and Co-Founder
• Ashley Whitfield Johnson — President and Chief Financial Officer

Full Conference Call Transcript

Operator: Thank you for joining us, and welcome to the Planet Labs PBC Second Quarter of Fiscal Year 2027 Earnings Call. [Operator Instructions] I will now hand the conference over to Cleo Palmer-Poroner, Director of Investor Relations.

Cleo Palmer-Poroner: Thanks, operator, and hello, everyone. I'm joined by Will Marshall and Ashley Johnson, who will provide a recap of our results and discuss our current outlook.

We encourage everyone to reference the earnings press release and earnings update presentation for today's call, which are available on our Investor Relations website.

Before we begin, we'd like to remind everyone that we will make forward-looking statements related to future events or our financial outlook. Any forward-looking statements are based on management's current outlook, plans, estimates, expectations, and projections. The inclusion of such forward-looking information should not be regarded as a representation by Planet that future plans, estimates, or expectations will be achieved.

Such forward-looking statements are subject to various risks and uncertainties and assumptions as detailed in our SEC filings, which can be found at www.sec.gov. Our actual results or performance may differ materially from those indicated by such forward-looking statements, and we undertake no responsibility to update such forward-looking statements to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

During the call, we will also discuss historic and forward-looking non-GAAP financial measures. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided in our press release issued earlier today, which is available on our website at investors.planet.com.

Further, throughout this call, we will provide a number of key performance indicators used by management and often used by competitors in our industry. These and other key performance indicators are discussed in more detail in our press release and our earnings update presentation, which are intended to accompany our prepared remarks.

At this point, I'd now like to turn the call over to Will Marshall, Planet's CEO, Chairperson and Co-Founder. Over to you, Will.

William Marshall: Thanks, Cleo, and welcome, everyone, joining us today.

Planet had another outstanding quarter, delivering a record $116 million in revenue, representing approximately 58% year-over-year growth. Non-GAAP gross margin was 59% for the quarter, better than expected, demonstrating the ongoing scalability of our business model.

For the fourth sequential quarter, we achieved and, in fact, well exceeded the Rule of 40 — our revenue growth rate plus adjusted EBITDA margin.

Our revenue growth rate was driven by strong execution across our satellite services deals as well as continued momentum in our Data and Solutions business.

We completed commissioning and handed over the first sovereign Earth observation satellite for the Swedish Armed Forces and successfully launched our next-generation Pelican tech demo. This week, we shipped our second Tanager and 18 SuperDove satellites for launch.

Both at home and abroad, Planet's data, AI-enabled solutions, and sovereign satellite capabilities are proving critical to the challenges and opportunities governments and companies across all industries face every day — from disaster response to resource management to national security.