Planet Labs PBC
Planet Labs Reports Strong First Quarter FY2026 Financial Results and Positive Free Cash Flow
Summary
Planet Labs PBC reported a record revenue of $66.3 million for Q1 FY2026, showing a 10% YoY increase. The company also delivered positive free cash flow of $8.0 million for the quarter, marking the first time this has occurred. The company's backlog increased to $527.0 million, up 140% YoY. Planet Labs announced its financial results for the first quarter of fiscal year 2026, which were better than expected, with strong validation of the company's strategic direction. Key highlights included a 10% year-over-year increase in revenue to $66.3 million, an increase in recurring annual contract value (ACV) to 97%, and the achievement of positive free cash flow for the first time. The company also provided guidance for the second quarter and full fiscal year 2026.
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About Planet Labs PBC
Planet Labs PBC is a leading Earth imaging and data analytics company specializing in capturing and providing frequent, high-resolution satellite imagery of the Earth. Its primary function is to operate fleets of small, specialized satellites—often called "Doves"—that capture detailed images of Earth's surface daily. This vast constellation of satellites enables Planet Labs to provide valuable insights and data across various sectors, including agriculture, forestry, urban planning, and environmental monitoring. Through its continuous data acquisition capabilities, Planet Labs empowers businesses, governments, and researchers with critical information needed for timely decision-making and strategic planning. The company plays a significant role in enhancing the understanding of global environmental changes, supporting disaster response efforts, and optimizing land use planning. Established in 2010 and headquartered in San Francisco, Planet Labs is at the forefront of revolutionizing how data from space is used to inform decisions on Earth, establishing a new paradigm in satellite data accessibility and utilization. Its contributions span across numerous industries, making it a pivotal player in the space and geospatial information markets.
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