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NEW YORK - Planet Labs PBC (NYSE:PL) reported fourth quarter earnings that fell short of analyst expectations, sending shares down 8% in after-hours trading on Thursday.
The satellite imagery company posted adjusted earnings per share of -$0.08, missing the consensus estimate of -$0.03. Revenue came in at $61.55 million, below analyst projections of $62.2 million but up 5% year-over-year.
For the full fiscal year 2025, Planet Labs generated record revenue of $244.4 million, an 11% increase from the previous year. The company also achieved its first quarter of positive adjusted EBITDA, reporting $2.4 million compared to a $9.8 million loss in Q4 of fiscal 2024.
"Last year was an exciting and transitional year for Planet," said CEO Will Marshall. "We introduced a new industry-aligned go-to-market structure and began to shift towards selling AI-enabled solutions."
Looking ahead, Planet Labs expects Q1 fiscal 2026 revenue between $61-63 million and full year revenue of $260-280 million. The company ended the quarter with $222.1 million in cash and short-term investments.
Despite the earnings miss, Planet Labs highlighted several business wins, including a $230 million contract with SKY Perfect JSAT and selection for a U.S. government satellite data program. The company’s backlog grew 115% quarter-over-quarter to $498.5 million.
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