Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q1 2026 Earnings Presentation
36 slides from Planet Labs Pbc's earnings presentation, Jun 4, 2025
Slide 1: Fiscal 1Q'26 Update
FISCAL 1Q’26 UPDATE June 4, 2025 SCHWETZINGEN PALACE • Schwetzingen, Germany • May 12, 2025 • Pelican
Slide 2: Disclaimers
Disclaimers All references to “Planet” or the “Company” in this presentation are references to Planet Labs PBC (NYSE: PL). Forward-looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
Slide 3: Disclaimers
Disclaimers Use of Non-GAAP Financial Measures This presentation includes Non-GAAP Gross Profit, Non-GAAP Gross Margin, certain Non-GAAP expenses, Backlog, Free Cash Flow and Adjusted EBITDA, which are non-GAAP measures Planet uses to supplement its results presented in accordance with U.S. GAAP. Pl
Slide 4: Planet's Mission
EARNINGS UPDATE PLANET’S MISSION To image the whole world every day and make global change visible, accessible, and actionable. © Copyright 2025 Planet Labs PBC All Rights Reserved 4
Slide 5: The Planet Opportunity
EARNINGS UPDATE The Planet Opportunity UNIQUE DATA HIGHLY SCALABLE LARGE ADDRESSABLE BUSINESS MODEL MARKET Daily, Global Scanning One-to-Many Data Model Defense & Civil Agriculture Intelligence Government High Resolution Tasking New Addition Global Partner Network Natural Resource Insurance Energy M
Slide 6: Q1 at a Glance
EARNINGS UPDATE Q1 at a Glance Recent Highlights ● Generated $17.3 M of net cash provided by operating activities and $8.0 M of free cash flow ● Awarded eight-figure ACV contract by a $66.3 M 59% $1.2 M European defense & intelligence customer ● Selected as the primary subcontractor for the California
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights DEFENSE & INTELLIGENCE CIVIL GOVERNMENT CIVIL GOVERNMENT 8-Figure ACV Expansion 7-Figure ACV Expansion Multi-Year Hyperspectral Win European D&I Customer German Government California Air Resource Board BKG & BMI COMMERCIAL CIVIL GOVERNMENT Commercial Expansion Civ
Slide 8: Monitoring Global Commerce
EARNINGS UPDATE MONITORING GLOBAL COMMERCE Planet’s high-resolution satellite images, often combined with AI and machine learning, can count individual shipping containers in port yards. By analyzing stacked containers and changes over time, analysts can estimate congestion levels and cargo throughp
Slide 9: Aircraft Detection
EARNINGS UPDATE WIP AIRCRAFT DETECTION GLOBAL AIRCRAFT MONITORING Planet released its new Aircraft Detection Analytic Feed, which automates Planetdaily detection released of aircraft, its new Aircraftincluding Detection commercial, Analytic Feed, which private,automates and military, around of detec
Slide 10: Wildfires
EARNINGS UPDATE WILDFIRES Spring 2025 wildfires across the UK, including a major blaze in the Mourne Mountains, Northern Ireland, burned over 33,072 hectares, exceeding the 2019 record. Planet’s satellite imagery provided critical data for monitoring fire spread and ecological impact. Planet’s high-re
Slide 11: Capsized Destroyer
EARNINGS UPDATE DEFENSE & INTELLIGENCE On May 21, 2025, a newly constructed 5,000-ton destroyer capsized during its launch at Chongjin Port, North Korea. The accident occurred when the vessel lost balance as it was launched sideways. Images taken by Planet show the warship lying on its side, with th
Slide 12: Tornado Damage
EARNINGS UPDATE DISASTER RESPONSE May 16, 2025 brought a devastating tornado outbreak to Missouri and Kentucky. The powerful storms resulted in a tragic loss of life and widespread destruction, with initial assessments indicating thousands of structures damaged or destroyed across both states. Plane
Slide 13: Aramco Stadium Construction
EARNINGS UPDATE INFRASTRUCTURE MONITORING The Aramco Stadium in Khobar, Saudi Arabia, is a significant construction project currently underway. The stadium is a key part of Saudi Arabia's "Vision 2030" and its broader investment in sports infrastructure. Imagery from Planet for urban planning and inf
Slide 14: Landslide
EARNINGS UPDATE DISASTER RESPONSE On May 28, 2025, a landslide buried much of Blatten, Switzerland. This satellite imagery from Planet helped experts assess the aftermath. By comparing "before" images of the village with "after" shots, experts immediately understood the scale of the disaster. Approx
Slide 15: Mojave Wind Farm
EARNINGS UPDATE MAPPING GLOBAL SOLAR AND WIND INFRASTRUCTURE Spring 2025 saw the launch of Global Renewables Watch, a public atlas by Planet, Microsoft, and The Nature Conservancy, mapping utility-scale solar and wind installations worldwide. Using Planet’s high-cadence satellite imagery, it tracks
Slide 16: High Latitude Methane Detections
HIGH LATITUDE METHANE DETECTIONS Carbon Mapper’s mission is to make methane and CO2 emission data accessible for mitigation, particularly focusing on high-latitude methane observations. Planet’s Tanager-1 satellite data was used to successfully detect numerous methane plumes in challenging high-lati
Slide 17: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights Mar 31 | AI and satellites help aid Apr 24 | A SoMa warehouse is May 4 | Satellite images reveal workers respond to Myanmar producing the most sophisticated Huawei’s advanced chip earthquake damage satellites in the world production line in China May 17 | Sate
Slide 18: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix 1Q’26 REVENUE by Geography 1Q’26 REVENUE by Sector 4% 20% 55% 28% 45% 25% 23% Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. Note: North America (“NAM”); Asia Pacific & Japan (“APJ”); Europe, Middle East,
Slide 19: Driving Growth
EARNINGS UPDATE Driving Growth ($ in millions) BACKLOG1 REVENUE 10% YoY Growth $527 $66 140% YoY Growth $60 $221 1Q’25 1Q’26 1Q’25 1Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. © Copyright 2025 Planet Labs PBC All Rights Reserved 19 1 Non-GAAP financial measure. Please refer to the defi
Slide 20: Driving Profits
EARNINGS UPDATE Driving Profits ($ in millions) ADJUSTED EBITDA1 FREE CASH FLOW1 8 1 (8) (16) 1Q’25 1Q’26 1Q’25 1Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. © Copyright 2025 Planet Labs PBC All Rights Reserved 20 1 Non-GAAP financial measure. Please refer to the definitions and reconcil
Slide 21: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency NON-GAAP GROSS PROFIT 1 ADJUSTED EBITDA1 ($ in millions) 16% YoY Growth 13% YoY Growth 2 1 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 Note: Planet has a Fiscal Year (FY) ending January 31.
Slide 22: Strong Execution Over Multiple Years
EARNINGS UPDATE Strong Execution Over Multiple Years ($ in millions) ANNUAL REVENUE NON-GAAP ADJUSTED EBITDA1 GROSS MARGIN1 GR $244 CA 21% $221 $191 60% 53% 54% (11) $131 38% (41) (55) (57) FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 + Revenue growth driven by Planet’s + Non-GAAP Gro
Slide 23: Focus and Prioritization
EARNINGS UPDATE Focus and Prioritization Product + R&D Go-To-Market Financial + Bring Next Gen High + Focus Direct Sales Force + Drive strong and Res and Hyperspectral on Large Customers in predictable revenue Data to Market Core Growth Verticals growth + Drive Scale with + Leverage Global Partners
Slide 24: Fiscal 2Q'26 and FY'26 Outlook
EARNINGS UPDATE Fiscal 2Q’26 and FY’26 Outlook Key Drivers 2Q’26 FY’26 ● Large government sales opportunities Bringing new AI-enabled solutions to market Revenue $65M - $67M $265M - $280M ● ● Bringing next generation high resolution and hyperspectral data to market Non-GAAP Gross Scaling in the sate
Slide 25: Appendix
APPENDIX SOLAR FARM • Pelican• Gansu, China • March 20, 2025
Slide 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Three Months Ended April 30, July 31, October January 31, April 30, July 31, October January 31, April 30, 2023 2023 31, 2023 2024 2024 2024 31, 2024 2025 2025 GAAP Gross Profit $ 28.1 $ 26.3 $ 26.0
Slide 27: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Year Ended January 31, 2022 2023 2024 2025 GAAP Gross Profit $ 48.2 $ 94.0 $ 113.0 $ 139.7 (+) Stock-Based Compensation 2.3 5.1 3.6 3.5 (+) Amortization of Acquired Intangible – 1.6 2.4 3.0 Assets (+
Slide 28: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Three Months Ended October 31, January 31, October 31, January 31, April 30, 2023 July 31, 2023 April 30, 2024 July 31, 2024 April 30, 2025 2023 2024 2024 2025 Net Loss $ (34,444) $ (37,975) $ (38,004) $ (
Slide 29: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Year Ended January 31, 2022 2023 2024 2025 Net Loss $ (137,124) $ (161,966) $ (140,509) $ (123,196) (+) Interest expense 8,772 – – – (+) Interest Income (21) (7,672) (15,414) (10,257) (+) Income tax provis
Slide 30: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) April 30, April 30, 2024 2025 Remaining performance obligations $ 124,942 $ 451,928 Cancelable amount of contract value 94,831 75,119 Backlog $ 219,773 $ 527,047 Note: Planet has a Fiscal Year (FY) ending January
Slide 31: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Free Cash Flow ($ in thousands) Three Months Ended April 30, 2024 April 30, 2025 Net cash provided by (used in) operating activities $ (4,297) $ 17,346 (-) Purchases of property and equipment (9,938) (8,119) (-) Capitalized internal-use s
Slide 32: Definitions
EARNINGS UPDATE Definitions Non-GAAP Financial Measures Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP Gross Profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, and employee transactio
Slide 33: Definitions
EARNINGS UPDATE Definitions Other Key Metrics ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates Annual Contract Value (“ACV”) for contracts of one year or greater as the total amount of value
Slide 34: Definitions
EARNINGS UPDATE Definitions Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. Th
Slide 35: Definitions
EARNINGS UPDATE Definitions Net Dollar Retention Rate: The Company defines Net Dollar Retention Rate as the percentage of ACV generated by existing customers in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Compan
Slide 36: Media Credits
EARNINGS UPDATE Media Credits Slide 17: ● The Associated Press, March 31: AI and satellites help aid workers respond to Myanmar earthquake damage ● San Francisco Business Times, April 24: A SoMa warehouse is producing the most sophisticated satellites in the world ● The Financial Times, May 4: Satel