Planet Labs PBC (PL) Reports Record Revenue and Strong Backlog Growth in Q1 Fiscal 2027
Key Takeaways
- Record quarterly revenue reached $94.2 million, up 42% year-over-year.
- Non-GAAP net loss per share improved to $0.03, beating analyst estimates.
- Backlog grew 72% year-over-year to over $906 million, providing strong visibility.
- Remaining performance obligations (RPOs) increased 81% year-over-year to $816 million.
- Company ended the quarter with $730.8 million in cash, cash equivalents, and short-term investments.
- Q2 fiscal 2027 revenue guidance set at $102 million to $107 million.
Why These Results Matter
Planet Labs PBC provides daily satellite imagery and geospatial data to governments, enterprises, and researchers. The first quarter of fiscal 2027 comes after fiscal 2026 results that featured record annual revenue and the company’s first full year of adjusted EBITDA profitability. Growth in recurring revenue and backlog highlights demand for Planet’s data as needs rise for real-time Earth observation in defense, agriculture, and environmental monitoring. These metrics matter because they show progress on scaling the satellite constellation and turning AI-enhanced analytics into revenue.
Quarterly Results in Detail
Planet Labs PBC reported first-quarter fiscal 2027 revenue of $94.2 million, a 42% increase from the prior-year period and ahead of consensus estimates around $90 million. Non-GAAP net loss per share came in at $0.03, better than analyst expectations of approximately $0.04. GAAP net loss per share was $0.40, mainly due to a one-time warrant liability revaluation. Adjusted EBITDA loss narrowed to $1.0 million. Gross margin stood at 54% GAAP and 56% non-GAAP. The company noted 99% recurring annual contract value and new contracts with international governments and U.S. agencies, including the National Geospatial-Intelligence Agency and U.S. Navy. I also checked how the stock compares to peers in the sector using Tickeron’s AI tools.
Market Reaction
Shares reacted positively in after-hours trading following the June 4, 2026 release, with modest gains reported amid the revenue beat and upbeat backlog figures. Sentiment ahead of the report reflected optimism around accelerating growth and government contract momentum. The strong top-line performance and expanded cash position reinforced confidence in execution, while the one-time accounting item related to warrants was viewed as non-recurring.
Guidance and What to Watch Next
Planet Labs PBC provided second-quarter fiscal 2027 guidance calling for revenue between $102 million and $107 million. Non-GAAP gross margin is expected in the 52% to 55% range, with adjusted EBITDA projected between $0 million and $5 million. Capital expenditures are guided at $21 million to $27 million.
Investors will monitor progress toward full-year targets and continued expansion of the Pelican satellite constellation. Recent launches, including three additional high-resolution satellites, position the company to increase imaging capacity and support new high-resolution offerings.
Key areas to watch include conversion of backlog into revenue, adoption of new AI tools such as the private beta natural-language query application, and further government contract wins. Margin trends, free cash flow generation, and the impact of recent warrant redemptions on the capital structure will also remain in focus as the company balances growth investments with operational discipline. One thing that stands out is how the backlog and RPO growth provide visibility into future quarters.
My Research Process with AI Tools
When analyzing companies like this, I sometimes use Tickeron’s AI Screener to filter stocks and ETFs based on technical patterns, fundamentals, trends, and volatility. The tool lets users scan thousands of securities with customizable filters such as industry, market cap, technical indicators, and performance metrics. It helps surface ideas and comparable names more efficiently than manual reviews. I find it useful for quickly identifying breakout candidates or sector peers when evaluating a name like PL.
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Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
PL's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for PL turned positive on September 21, 2026. Looking at past instances where PL's MACD turned positive, the stock continued to rise in 44 of 48 cases over the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where PL's RSI Oscillator exited the oversold zone, 19 of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 73%.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 53 of 61 cases where PL's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 87%.
The Momentum Indicator moved below the 0 level on October 08, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on PL as a result. In 74 of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 85%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
PL broke above its upper Bollinger Band on October 06, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for PL entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 43 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (10.811) is normal, around the industry mean (6.305). P/E Ratio (0.000) is within average values for comparable stocks, (58.116). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.564). Dividend Yield (0.000) settles around the average of (0.009) among similar stocks. P/S Ratio (14.104) is also within normal values, averaging (18.330).
The Tickeron Price Growth Rating for this company is 64 (best 1 - 100 worst), indicating steady price growth. PL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 85 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. PL’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 77, placing this stock worse than average.
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
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