Planet Labs Stock Soars After Q1 Revenue Beats Estimates

Planet Labs PBC PL released its first-quarter results after Wednesday's closing bell. Here's a look at the key figures from the quarter. 

The Details: Planet Labs reported first-quarter revenue of $66.27 million, beating the $62.3 milion Street estimate.

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For the first quarter of fiscal 2026, Planet Labs reported:

• The percent of recurring annual contract value (ACV) for the first quarter was 97%.
• Non-GAAP gross margin was 59%, compared to 55% in the first quarter of fiscal year 2025.
• Net loss was $12.6 million, compared to a loss of $29.3 million in the first quarter of fiscal year 2025.

“We had an excellent first quarter, exceeding our expectations, demonstrating solid validation of our strategic direction and great execution,” said Will Marshall, Planet’s CEO.

“Looking ahead, we’re responding to strong demand signals by prioritizing the delivery of global insights at scale via AI-enabled solutions and rapidly expanding our satellite services offering,” Marshall added.

Outlook: The company sees second-quarter revenue in a range of $65 million to $67 million, versus the $65.19 million estimate.

Planet Labs raised its fiscal 2026 revenue guidance to a new range of $265 million to $280 million, versus the $328.78 million estimate.

PL Price Action: According to data from Benzinga Pro, Planet Labs stock was up 14.79% at $4.58 in Wednesday's extended trading. 

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