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Jul 31
Planet Labs Q2 2026 Earnings Report
Planet Labs reported record revenue and narrowed its net loss in Q2 2026.
Key Takeaways
Planet Labs delivered a strong Q2 FY26 with record-high revenue, improved margins, positive adjusted EBITDA, and significant backlog growth, driven by government and defense contracts.
Revenue reached an all-time high of $73.4 million.
Net loss narrowed to $22.6 million, down from $38.7 million a year ago.
Achieved positive adjusted EBITDA of $6.4 million.
Backlog surged to $736.1 million, a 245% YoY increase.
Planet Labs
Planet Labs
Planet Labs Revenue by Segment
Planet Labs Revenue by Geographic Location
Revenue by Segment
Defense & Intel Revenue
CapyFin.comCivil Government Revenue
CapyFin.comCommercial Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific & Japan Revenue
CapyFin.comLatin America Revenue
CapyFin.com Forward Guidance
Planet expects Q3 FY26 revenue between $71M and $74M, with continued investment in product development and stable margins.
Positive Outlook
- Q3 FY26 revenue guidance of $71M–$74M.
- Non-GAAP gross margin expected between 55%–56%.
- Full-year FY26 revenue guidance of $281M–$289M.
- Continued positive momentum in backlog and contract wins.
- Positive adjusted EBITDA guidance for full-year possible (range includes breakeven).
Challenges Ahead
- Expected Q3 adjusted EBITDA could still be negative (range includes -$4M).
- Capital expenditures projected between $18M–$24M for Q3.
- High dependency on government contracts.
- Stock-based compensation remains a significant expense.
- Full-year adjusted EBITDA guidance also includes the possibility of a loss up to $7M.
Revenue & Expenses
Visualization of income flow from segment revenue to net income