Planet Labs PBC PL used its second quarter of fiscal 2027 call to emphasize a maturing satellite-services pipeline, faster Owl development and manufacturing investment.
Non-GAAP earnings of $0.02 per share topped the Zacks Consensus Estimate of a $0.02 loss, while revenue of $116.05 million exceeded the $105 million estimate.
PL Satellite Services Pipeline Matures
Co-Founder, CEO and chair Will Marshall said Planet has more than $4 billion in satellite-services opportunities, with over 25% near term, which he defined as quarters rather than years.
Will Marshall said the pipeline grew in deal count and size across EMEA, APAC and North America. A German civil-government tender carries a maximum €25 million value over five years, including options.
President and CFO Ashley Johnson said the Swedish Armed Forces handover helped drive second-quarter outperformance. She said rising point-in-time satellite-services revenue can increase quarterly variability.
Planet Raises the Floor on Fiscal 2027
Ashley Johnson said full-year revenue is expected at $430 million to $441 million after raising the low end. The range represents 40% to 43% growth, while non-GAAP gross margin is projected at 55% to 57%.
Ashley Johnson raised the low end of adjusted EBITDA guidance to a $3 million to $10 million profit range. She maintained annual adjusted free cash flow positivity and Rule of 40 targets.
For the third quarter, she guided to $101 million to $105 million of revenue, 56% to 58% non-GAAP gross margin and a $6 million to $1 million adjusted EBITDA loss. The Swedish handover shifted revenue from the third quarter into the second quarter without changing the full-year outlook.
PL Accelerates Owl and AI Development
CEO and chair Will Marshall said customer feedback is prompting Planet to accelerate Owl. The system targets 1-meter-class imagery, roughly 10 times more data and latency as low as an hour in key areas.
A Clear Street analyst asked about pricing. Will Marshall said improved resolution should support more applications and higher pricing. President and CFO Ashley Johnson emphasized faster delivery from onboard AI and satellite communications.
A Deutsche Bank analyst asked about AI model commoditization, while a Northland Capital Markets analyst focused on monetization. Will Marshall said Planet is model agnostic and is refining its open-beta AI application before broader go-to-market decisions.
Planet Leans Into CapEx and Backlog
President and CFO Ashley Johnson said fiscal 2027 capital expenditures are planned at $100 million to $115 million, with third-quarter spending of $30 million to $37 million. Spending covers Pelican, Owl, manufacturing and long-lead procurements.
A Goldman Sachs analyst pressed the CapEx increase. Ashley Johnson said Planet is pulling forward purchases to preserve delivery speed and expects gross-margin variability from satellite-services mix.
Ashley Johnson said RPOs were about $753 million and backlog about $815 million. About 50% applies to the next 12 months, and existing backlog could generate more than $400 million of revenue over the next four quarters.
PL Defends Its Daily-Scan Differentiation
A Citizens analyst asked about the sole-source NGA award. CEO and Chair Will Marshall attributed it to Planet’s daily scan and said that differentiation had previously supported a sole-source U.S. Navy award.
A Needham analyst asked about Maritime Domain Awareness competition. Will Marshall said analytics providers compete above the data layer, while Planet’s daily scan and historical archive remain central to change detection.
A Citi analyst raised launch and supply-chain constraints. Will Marshall acknowledged a tight rideshare market and some launch-price increases but cited diversified launch experience and component stockpiling. Ashley Johnson highlighted advance procurement.
Planet Keeps Growth and Profitability in View
Will Marshall’s closing message centered on faster satellite-services delivery, daily-scan differentiation and new government and commercial programs.
Ashley Johnson kept annual adjusted EBITDA profitability and adjusted free cash flow positivity as guardrails while Planet increases investment.
PL Zacks Rank and Style Score Signals
PL carries a Zacks Rank #3 (Hold), a Value Score of F, Growth Score of B, Momentum Score of B and VGM Score of D. Growth and Momentum grades are stronger than the Value and VGM grades. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Style Scores complement the Zacks Rank. The strongest combinations pair Zacks Rank #1 or #2 (Buy) stocks with A or B Style Scores. PL’s Zacks Rank can change as estimate revisions incorporate the just-reported results.
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