Planet Q1 FY2027 revenue $94.2M (+42% YoY); backlog $906M; cash $731M

Planet Labs PBC

Record quarterly revenue of $94.2M, up 42% YoY driven by strong execution across global teams.
Backlog grew 72% YoY to over $906M; RPOs +81% to $816M, providing long-term visibility.
GAAP net loss ($138.9M) reflects ~$106.5M non-cash warrant revaluation loss; adjusted EBITDA loss ($1.0M).
Ended quarter with $730.8M in cash; redeemed public warrants generating ~$108M in proceeds.
Launched 3 Pelican satellites, including Sweden's first sovereign reconnaissance satellite.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Planet Labs PBC reported first fiscal quarter ended April 30, 2026 results: revenue $94.2 million, net income ($138.9) million, EPS ($0.40).

Period: first fiscal quarter ended April 30, 2026
Revenue: $94.2 million
Net income: ($138.9) million
EPS: ($0.40)
Result: reported results

Exact text from the filing

First quarter revenue increased 42% year-over-year to a record $94.2 million. • Percent of recurring annual contract value (ACV) was 99% as of the end of the first quarter. • First quarter gross margin was 54%, compared to 55% in the first quarter of fiscal year 2026. First quarter non-GAAP gross margin was 56%, compared to 59% in the first quarter of fiscal year 2026. • First quarter net loss was ($138.9) million, compared to ($12.6) million in the first quarter of fiscal year 2026. The first quarter of fiscal year 2027 net loss included an approximate ($106.5) million revaluation loss from the change in fair value of warrant liabilities related to stock price appreciation during the period. Planet announced the redemption of all of its outstanding public warrants during the quarter, resulting in approximately $107.8 million of proceeds from exercises of the public warrants. Additionally, the remaining private placement warrants were exercised on a cashless basis during the quarter. C

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Source: SEC EDGAR

accession 0001193125-26-257401

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