Planet Labs’ third quarter ends October 31, with results not yet announced
Key Facts
Planet Labs had not announced results for the third quarter of its 2027 fiscal year as of October 28; the quarter ends on October 31, according to its investor relations page. The page lists second-quarter results as the latest published results. Available information therefore does not support attributing third-quarter earnings per share or actual revenue to the company. Instead, the company provided guidance for the current quarter, including expected revenue of between 101 and 105 million dollars. It also forecast a gross margin of between 56% and 58% on a non-GAAP basis, and adjusted earnings before interest, taxes, depreciation and amortization of between negative 1 and negative 6 million dollars.
The company reported second-quarter results on September 3, for the period ended July 31. Revenue was 116.1 million dollars, up 58% year over year, a record for the company. The figures show strong growth in the prior period, but do not represent results for the current third quarter. The company recorded a GAAP net loss of 0.03 dollars per share in the second quarter. By contrast, non-GAAP net income was about 0.02 dollars per share, highlighting the difference between the two profitability measures reported by the company.
Planet Labs generated 13.9 million dollars in adjusted operating earnings in the second quarter, compared with 6.4 million dollars in the second quarter of the previous fiscal year. This comes alongside the company’s forecast of an adjusted loss for the third quarter, in a range of between 1 and 6 million dollars. Cash, cash equivalents and short-term investments totaled 865.4 million dollars at the end of the second quarter. The company estimated its remaining performance obligations at about 753.1 million dollars, while its backlog totaled about 814.9 million dollars. These financial and contractual indicators provide context on the company’s position ahead of the release of current-quarter results.
The chief executive said second-quarter growth came alongside an expansion in satellite services. He added that the company signed contracts in August with the U.S. National Geospatial-Intelligence Agency and the German government. These contracts provide context for the commercial activity management cited when presenting second-quarter results. In the year-ago period, third-quarter revenue was 81 million dollars, up 33% year over year, according to the company’s quarterly results. That figure provides a point of comparison when current third-quarter results are released, but is not a new forecast or a result for the current period.
For the full 2027 fiscal year, Planet Labs expects revenue of between 430 and 441 million dollars. The company also targets adjusted earnings before interest, taxes, depreciation and amortization of between 3 and 10 million dollars. These full-year estimates remain separate from the third-quarter results, which have not yet been announced. The quarter ends on October 31, according to the company’s published fiscal calendar. The second-quarter results, announced on September 3, were the latest results listed on its investor relations page.