Planet Labs PBC (NYSE:PL) posted its first-quarter results after Thursday’s closing bell beating estimates on the top and bottom lines. Here's a look at the details inside the report.
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Planet Labs Q1 Details
Planet Labs reported quarterly losses of three cents per share, which beat the analyst consensus estimate for losses of four cents, according to Benzinga Pro data.
Quarterly revenue came in at $94.15 million, which beat the Street estimate of $89.85 million.
Planet Labs highlighted that RPOs increased 81% year-over-year to $816 million and backlog grew 72% to over $906 million.
“Planet’s excellent start to the year is a testament to the mission-critical nature of our data in an increasingly complex world,” said Will Marshall, Planet’s CEO.
“Planet is executing with speed and focus, evidenced by the successful launch of Sweden’s first sovereign reconnaissance satellite just four months after contract signing. By investing in AI, we are positioning Planet at the forefront of the industry and pioneering ways to make planetary-scale insights available and actionable to more users than ever before,” Marshall added.
Read Also: Broadcom's AI Revenue Doubled — And It May Not Even Be Halfway Done
Fiscal 2027 Outlook
Planet Labs raised its fiscal 2027 revenue outlook to a new range of $425 million to $441 million, versus the $425.1 million analyst estimate.
PL Stock Price Activity: According to data from Benzinga Pro, Planet Labs stock fell 1.19% to $43.53 in Thursday's extended trading.
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