Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q4 2026 Earnings Presentation
32 slides from Planet Labs Pbc's earnings presentation, Mar 19, 2026
Slide 1: Fiscal 4Q'26 Update
FISCAL 4Q’26 UPDATE March 19, 2026 MILANO SAN SIRO OLYMPIC STADIUM • Milan, Italy • February 5, 2026 • 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 2026 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 Global Partner Network Hyperspectral Natural Resource Energy Insurance
Slide 6: FY 26 & Q4 at a Glance
EARNINGS UPDATE FY 26 & Q4 $ 86.8M 57% $ 2.3M at a Glance Record Revenue Non-GAAP Adjusted in 4Q’26 Gross Margin1 EBITDA1 in 4Q’26 Q4 Highlights in 4Q’26 ● Awarded multi-year, low 9-figure $ 15.5M agreement with Swedish Armed Forces ● Received 2 awards from the U.S. Defense $ 307.7M 59% Innovation Un
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights DEFENSE & INTELLIGENCE CIVIL GOVERNMENT DEFENSE & INTELLIGENCE 7-Figure Renewal Enterprise-Scale Agreement 9-Figure Satellite Services Deal NATO Slovenia Surveying and Mapping Swedish Armed Forces Authority DEFENSE & INTELLIGENCE COMMERCIAL Selected as SHIELD IDIQ
Slide 8: Solution: Global Monitoring Service
EARNINGS UPDATE Solution: Global Monitoring Service MONITOR THOUSANDS OF LOCATIONS VIEW TRENDS OVER Made possible by TIME Planet’s unique global, near-daily • Day over day archive • Month over month • Year over year AI-enabled system that analyzes changes in infrastructure, objects and activities to
Slide 9: Solution: Maritime Domain Awareness
EARNINGS UPDATE Solution: Maritime Domain Awareness MONITOR MONITOR ACTIVITY THOUSANDS OF PORTS AND • Spoofing VESSELS GLOBALLY • Bunkering Made possible by • Dark Vessels Planet’s unique global, • Encroachment near-daily archive CLASSIFY VESSELS TYPES • Cargo • Military • Passenger • Tanker • Etc Hi
Slide 10: Solution: Area Monitoring System
EARNINGS UPDATE Solution: Area Monitoring System PARCEL MONITORING Detect precise field-level changes MONITOR ACTIVITY • Field-by-field, capture health, moisture, mowing, MONITOR THOUSANDS plowing, greening, and OF FIELDS GLOBALLY harvest events Made possible by Planet’s unique global, • A single field
Slide 11: Satellite Services and Aircraft Detection
EARNINGS UPDATE WIP SATELLITE SERVICES SWEDISH ARMED FORCES Planet was awarded a multi-year, low 9-figure agreement by Sweden to rapidly deliver a suite of satellites, space-based data and awareness solutions to support the country’s peace and security operations. This agreement marked Planet’s third
Slide 12: Civil Government: Controlled Burn
EARNINGS UPDATE WIP CIVIL GOVERNMENT CONTROLLED BURN • ELDORADO NATIONAL FOREST, CA Three Pelican high resolution images, in the course of an hour, show the progress of a controlled burned set in Eldorado National Forest. Controlled burns, aimed at reducing wildfire risk and fuel loads, are conducted
Slide 13: Defense & Intelligence: Potential Oreshnik Deployment Site
EARNINGS UPDATE WIP DEFENSE & INTELLIGENCE POTENTIAL ORESHNIK DEPLOYMENT SITE, BELARUS According to a December Reuters report, experts from the Middlebury Institute of International Studies and CNA Research believe Russia is “likely” placing new hypersonic missiles at a former airbase in Belarus, a
Slide 14: Civil Government: Landslide in Italy
EARNINGS UPDATE WIP CIVIL GOVERNMENT LANDSLIDE IN ITALY In January, the Sicilian town of Niscemi experienced a massive landslide, triggered in part by intense rain from Cyclone Harry. The landslide resulted in a chasm, pictured below, stretching approximately 2.5 miles. Approximately 1,500 people we
Slide 15: Maritime Domain Awareness: Skipper
EARNINGS UPDATE WIP MARITIME DOMAIN AWARENESS SKIPPER - DOCKED IN VENEZUELA According to reporting by The New York Times, satellite imagery and provided by Planet and analyzed by Tanker Trackers was instrumental in exposing the deceptive maneuvers of the oil tanker Skipper prior to its seizure by U.
Slide 16: Broad Area Monitoring
EARNINGS UPDATE BROAD AREA MONITORING MINING AND ENVIRONMENTAL IMPACT - LAOS According to reporting by Reuters, a study by the Stimson Center warns that over 2,400 unregulated mines across Southeast Asia are leaking toxic chemicals like cyanide and mercury into major river systems. This environmenta
Slide 17: Current Events: India Republic Day Parade
EARNINGS UPDATE WIP CURRENT EVENTS INDIA REPUBLIC DAY PARADE On January 26, 2026, Planet’s Pelican constellation captured the Republic Day parade along the Kartavya Path in New Delhi, detailing the massive scale and coordination of the national event. Planet’s high-resolution tasking provides the in
Slide 18: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights Dec 26 | Exclusive: Researchers find Jan 16 | Thousands of Chinese Fishing Dec 29 | Planet CEO Will Marshall: Our Russia likely placing new hypersonic Boats Quietly Form Vast Sea Barriers satellites open whole new applications missiles at former airbase in Bela
Slide 19: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix FY26 REVENUE by Geography FY26 REVENUE by Sector 4% 18% 43% 34% 59% 23% 19% 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, an
Slide 20: Growth Momentum
EARNINGS UPDATE Growth Momentum ($ in millions) ANNUAL REVENUE BACKLOG2 1 $900 GR 79% YoY CA 24% 26% YoY Growth $308 Growth $244 $221 $504 $191 $131 $280 $242 FY22 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Note: Planet has a Fiscal Year (FY) ending January 31. 1 Compound Annual Growth Rate for FY22 -
Slide 21: Significant Gross Profit Expansion and Margin Discipline
EARNINGS UPDATE Significant Gross Profit Expansion and Margin Discipline NON-GAAP NON-GAAP GROSS PROFIT1 GROSS MARGIN1 $183 ($ in millions) $148 $120 60% 59% 53% 54% $101 38% $50 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Note: Planet has a Fiscal Year (FY) ending January 31. 1 Non-GAAP financia
Slide 22: Path to Sustainable Profitability
EARNINGS UPDATE Path to Sustainable Profitability ($ in millions) ADJUSTED EBITDA1 FREE CASH FLOW1 53 15 (11) (41) (57) (55) (57) (64) (87) (93) FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Note: Planet has a Fiscal Year (FY) ending January 31. 1 © Copyright 2026 Planet Labs PBC All Rights Reser
Slide 23: Focus on Execution
EARNINGS UPDATE Focus on Execution Product + R&D Go-To-Market Financial + Scale Satellite Services + Focus Direct Sales Force on + Drive Strong and Large Customers in Core Predictable Revenue + Bring New AI-Enabled Growth Verticals Growth Solutions to Market + Leverage Satellite Services + Gross Mar
Slide 24: Fiscal 1Q'27 and FY'27 Outlook
EARNINGS UPDATE Fiscal 1Q’27 and FY’27 Outlook Key Drivers 1Q’27 FY’27 ● Large government sales opportunities Bringing AI-enabled solutions to market Revenue $87M - $91M $415M - $440M ● ● Launching next generation satellites ● Scaling in the satellite services market Non-GAAP Gross 49% - 51% 50% - 5
Slide 25: Appendix
EARNINGS UPDATE WIP APPENDIX AIRCRAFT DETECTION Planet released its new Aircraft Detection Analytic Feed, which automates daily detection of aircraft, including commercial, private, and military, around the world. This AI-powered product provides global insights and time series analytics to analyze
Slide 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Year Ended January 31, 2022 2023 2024 2025 2026 GAAP Gross Profit $ 48.2 $ 94.0 $ 113.0 $ 139.7 $ 172.5 (+) Stock-based compensation 2.3 5.1 3.6 3.5 6.9 (+) Amortization of acquired intangible assets
Slide 27: 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 2026 Net Loss $ (137,124) $ (161,966) $ (140,509) $ (123,196) $ (246,860) (+) Interest expense 8,772 – – 832 3,436 (+) Interest Income (21) (7,672) (15,414) (10,2
Slide 28: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) January 31, 2023 2024 2025 2026 Remaining performance obligations $ 151,976 $ 132,571 $ 412,829 $ 852,435 Cancelable amount of contract value 127,667 109,821 90,920 47,992 Backlog $ 279,643 $ 242,392 $ 503,749 $ 9
Slide 29: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Free Cash Flow ($ in thousands) Year Ended January 31, 2022 2023 2024 2025 2026 Net cash provided by (used in) operating $ (42,211) $ (73,933) $ (50,711) $ (14,374) $ 134,362 activities (-) Purchases of property and equipment (10,313) (10
Slide 30: 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 employer payroll ta
Slide 31: 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 32: Media Credits
EARNINGS UPDATE Media Credits Slide 18: ● Reuters, December 26: Exclusive: Russia likely placing new hypersonic missiles at former airbase in Belarus, researchers find ● CNBC, December 29: Planet CEO Will Marshall: Our satellites open whole new applications for imaging ● The New York Times, January 1