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Oct 31, 2025
Planet Labs Q3 2026 Earnings Report
Estimated Revenue:$72M
+13.8% YoY
Estimated EPS:-$0.05
25.0% YoY
Key Takeaways
Planet Labs delivered strong Q3 2026 results with record revenue of $81.3 million, positive adjusted EBITDA, and a net loss driven by non-cash items. The company successfully launched 38 satellites and saw continued demand from government and commercial customers.
Revenue hit a record $81.3M, up significantly from the prior year.
Fourth consecutive quarter of adjusted EBITDA profitability.
Ended the quarter with $677.3M in cash, cash equivalents, and short-term investments.
Successfully launched 2 Pelican and 36 SuperDove satellites.
Forward Guidance
Planet expects Q4 FY2026 revenue between $76M and $80M, with adjusted EBITDA loss of $5M to $7M and continued investments in next-gen satellite infrastructure.
Positive Outlook
- Q4 revenue guidance up to $80M.
- FY2026 revenue expected between $297M and $301M.
- FY2026 adjusted EBITDA forecasted to be positive ($6M to $8M).
- Strong year-to-date free cash flow of $55.2M.
- Sustained demand from U.S. government agencies including NASA, NRO, and NGA.
Challenges Ahead
- Q4 expected adjusted EBITDA loss ($5M to $7M).
- Non-GAAP gross margin expected to decline to 50–52% in Q4.
- Capital expenditures projected at $22M–$26M in Q4.
- FY2026 capex estimated between $81M and $85M.
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