Planet Labs PBC reported fiscal second-quarter 2027 results that outpaced analyst expectations across multiple metrics. The company generated quarterly revenue of $116.1 million, representing 58% growth compared to the year-ago period and exceeding the consensus estimate of approximately $104.5 million. On the profitability front, Planet Labs delivered adjusted earnings per share of $0.02, compared with expectations for a loss of $0.02 per share.
The quarter represented a significant milestone for the company, marking its first period of non-GAAP profitability since becoming publicly traded. The defense and intelligence segment drove much of the growth, with revenue from that business surging more than 90% year over year and accounting for roughly 70% of total quarterly sales. Adjusted EBITDA reached $13.9 million against analyst estimates of around $2 million. The company also maintained strong customer retention, reporting a net dollar retention rate of 109%. During the period, Planet Labs secured a one-year agreement valued in the seven figures with an unnamed European defense and intelligence customer.
Based on the strong quarterly performance, the company raised its full-year fiscal 2027 revenue guidance to a range of $430 million to $441 million, representing projected year-over-year growth of 40% to 43%. Planet Labs also established its first full-year target for positive adjusted EBITDA. However, the company provided guidance for the third quarter that fell short of market expectations, forecasting Q3 revenue between $101 million and $105 million compared with analyst estimates of approximately $118 million. Additionally, Planet Labs indicated that adjusted EBITDA would return to a loss during the third quarter.
The stock market’s reaction reflected the mixed signals from the guidance. Shares had declined approximately 8% during the previous regular trading session as investors processed the third-quarter outlook. However, following the release of the quarterly results and updated annual guidance, the stock reversed course in pre-market trading, gaining 14.1%. At the time of pre-market activity, shares traded at $20.94, compared with the previous close of $18.30. The broader U.S. equity market moved higher during the session, with the Nasdaq advancing 0.5% and the S&P 500 rising 0.1%.
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