Planet Labs PBC Reports Second Quarter Fiscal 2025 Results

SAN FRANCISCO – Planet Labs PBC (NYSE: PL) reported second quarter fiscal 2025 results highlighting revenue growth and a narrower loss compared to the previous year, although revenue slightly missed analyst estimates. Following the announcement, PL shares fell by 2%.

The company posted revenue of $61.1 million for the quarter ending July 31, marking a 14% year-over-year increase yet falling short of the consensus estimate of $61.82 million. Adjusted earnings per share reported a loss of $0.06, surpassing expectations of a $0.08 loss.

Planet Labs experienced robust demand from government clients, especially in the defense and intelligence sectors, where revenue surged over 30% year-over-year. Gross margin expanded to 53% on a GAAP basis and 58% on a non-GAAP basis.

CEO Will Marshall shared, “We are pleased with the gross margin expansion and the progress toward our profitability objectives during the quarter.”

Looking ahead, Planet Labs estimates third quarter revenue between $61-64 million, compared to analyst estimates of $64.16 million. The company expects an adjusted EBITDA loss in the range of $2-5 million.

As of the end of the quarter, Planet Labs held $249 million in cash and short-term investments, with plans to achieve adjusted EBITDA profitability in the fourth quarter of this fiscal year.

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