Planet Labs share surge 43% after Q1 revenue exceeds expectations

Investing.com -- Shares of Planet Labs Inc. surged as much as 43% in Thursday morning trading after the company reported first-quarter revenue that exceeded estimates.”

Looking ahead to 2026, the company anticipates revenue to be approximately $265 million to $280 million, a slight increase from the previous forecast of about $260 million to $280 million. The consensus estimate according to Bloomberg is $272.4 million.

Planet Labs also anticipates an adjusted Ebitda loss of about $7 million to $12 million, a minor improvement from the previously projected loss of $7 million to $13 million. The estimate for the loss stands at $9.29 million.

The company continues to predict an adjusted gross margin of about 55% to 57%.

For the second quarter, Planet Labs forecasts revenue to be around $65 million to $67 million, with an estimated figure of $65.4 million.

The company also expects an adjusted gross margin of about 56% to 57%. The projected adjusted Ebitda loss is about $2 million to $4 million, compared to an estimated loss of $2.61 million.

In the first quarter, Planet Labs reported revenue of $66.3 million, marking a 9.6% increase year over year, and exceeding the estimated revenue of $62.3 million.

The adjusted Ebitda was $1.20 million, a significant improvement from the loss of $8.40 million reported in the same period the previous year. The estimated loss was $3.06 million.

The company reported a loss per share of 4.0 cents, compared to a loss per share of 10 cents year over year.

In terms of contracts, 97% of the company’s recurring annual contract value was reported in the first quarter.

Additionally, during this period, Planet Labs was awarded a substantial eight-figure annual contract value by a European defense and intelligence customer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.