Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q3 FY2026 Earnings Presentation
34 slides from Planet Labs Pbc's earnings presentation, Dec 10, 2025
Slide 1: Fiscal 3Q'26 Update
FISCAL 3Q’26 UPDATE December 10, 2025 PELICAN-6 FIRST LIGHT • Lhasa Gonggar International Airport • December 4, 2025
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 Global Partner Network Hyperspectral Natural Resource Energy Insurance
Slide 6: Q3 at a Glance
EARNINGS UPDATE Q3 at a Glance Recent Highlights ● Received $12.8M prime contractor award from the National Geospatial -Intelligence Agency under Luno B $ 81.3M 60% $ 5.6M ● Awarded $13.2M baseline renewal by the National Reconnaissance Office Record Revenue Non-GAAP Adjusted under EOCL in 3Q’26 Gros
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights DEFENSE & INTELLIGENCE CIVIL GOVERNMENT DEFENSE & INTELLIGENCE Luno B Prime Contractor Award 8 Figure CSDA Order 8 Figure EOCL Award National Geospatial-Intelligence NASA National Reconnaissance Office Agency DEFENSE & INTELLIGENCE COMMERCIAL 7 Figure Renewal New C
Slide 8: Strategic Space Highlights
EARNINGS UPDATE Strategic Space Highlights R&D PARTNERSHIP NEXT GEN CONSTELLATION MANUFACTURING EXPANSION Google Owl Berlin, Germany TPUs in Space Next Generation Monitoring Satellite Manufacturing Facility © Copyright 2025 Planet Labs PBC All Rights Reserved 8
Slide 9: Solution: Maritime Domain Awareness
EARNINGS UPDATE Solution: Maritime Domain Awareness MONITOR ACTIVITY • Spoofing • Bunkering • Dark Vessels • Encroachment CLASSIFY VESSELS TYPES MONITOR • Cargo THOUSANDS • Military OF PORTS AND VESSELS GLOBALLY • Passenger • Tanker Made possible by • Etc Planet’s unique global, near-daily archive 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: Solution: Global Monitoring
EARNINGS UPDATE Solution: Global Monitoring 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 deliver
Slide 12: Tanager-1 General Availability; Aircraft Detection
EARNINGS UPDATE WIP TANAGER-1 GENERAL AVAILABILITY Planet has launched commercial access to Tanager-1 data. Developed with Carbon Mapper, the mission has already detected over 5,500 methane plumes globally. Customers can now leverage “Methane Quicklook” products and monitoring subscriptions in key e
Slide 13: Vessel of Interest
EARNINGS UPDATE MARITIME INTELLIGENCE A Reuters investigation published in October 2025 leveraged PlanetScope imagery to uncover a “dark fleet” vessel operation in Ensenada, Mexico. The March 10, 2025, capture of the tanker Torm Agnes provided journalists with the critical ground truth needed to veri
Slide 14: Power Infrastructure Monitoring
EARNINGS UPDATE POWER INFRASTRUCTURE MONITORING In October 2025, the New York Times reported on the expansion of the Zhangzhou Nuclear Power Plant in China, pictured here. According to the report, this facility is part of a massive national initiative, with China now managing nearly as many reactors
Slide 15: Planet Tasking; Aircraft Detection
EARNINGS UPDATE WIP PLANET TASKING With the successful launch of additional Pelican satellites, our next-generation tasking fleet is expanding. Equipped with NVIDIA Jetson AI for on-orbit edge computing, these satellites are designed to drastically reduce latency between capture and insight. This Pel
Slide 16: Welcome!
EARNINGS UPDATE Welcome! Strengthening Planet’s AI Capabilities for Global Monitoring Planet is proud to welcome a talented team of engineers and a proven AI workflow directly into our organization, marking a significant step forward for our global data solutions business. The Bedrock Research team po
Slide 17: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights Sept 25 | Planet Labs is building a Sept 29 | The Missiles Threatening Oct 8 | Planet Labs to Launch satellite factory in Berlin Taiwan Satellites Promising Images in an Hour Oct 9 | Planet Labs is using AI & Oct 31 | Western intelligence says Nov 18 | On the
Slide 18: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix 3Q’26 REVENUE by Geography 3Q’26 REVENUE by Sector 5% 16% 43% 34% 23% 61% 18% 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 $734 33% YoY Growth $81.3 216% YoY Growth $61.3 $232 3Q’25 3Q’26 3Q’25 3Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. © Copyright 2025 Planet Labs PBC All Rights Reserved 19 1 Non-GAAP financial measure. Please refer to the
Slide 20: Driving Profits
EARNINGS UPDATE Driving Profits ($ in millions) ADJUSTED EBITDA1 FREE CASH FLOW1 5.6 0.9 (0.2) (4.8) 3Q’25 3Q’26 3Q’25 3Q’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 r
Slide 21: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency ($ in millions) NON-GAAP GROSS PROFIT 1 ADJUSTED EBITDA1 25% YoY Growth 37% YoY Growth 1.2 (0.2) 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 2Q’26 3Q’26 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 2Q’26 3Q’26 Note: Planet has a Fiscal Year (FY) ending Januar
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 % $221 23 $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 Gr
Slide 23: Focus and Prioritization
EARNINGS UPDATE Focus and Prioritization Product + R&D Go-To-Market Financial + Bring Next Gen High Res + Focus Direct Sales Force on + Drive Strong and and Hyperspectral Data to Large Customers in Core Predictable Revenue Market Growth Verticals Growth + Drive Scale with Satellite + Leverage Global
Slide 24: Fiscal 4Q'26 and FY'26 Outlook
EARNINGS UPDATE Fiscal 4Q’26 and FY’26 Outlook Key Drivers 4Q’26 FY’26 ● Large government sales opportunities Bringing new AI-enabled solutions to market Revenue $76M - $80M $297M - $301M ● ● Bringing next generation high resolution and hyperspectral data to market Non-GAAP Gross Scaling in the sate
Slide 25: Appendix
APPENDIX FORT BOURTANGE • Westerwolde, Netherlands • September 09, 2021
Slide 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Three Months Ended October January April 30, July 31, October January April 30, July 31, October 31, 2023 31, 2024 2024 2024 31, 2024 31, 2025 2025 2025 31, 2025 GAAP Gross Profit $ 26.0 $ 32.5 $ 31.
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, April 30, October 31, January 31, April 30, October 31, July 31, 2024 July 31, 2025 2023 2024 2024 2024 2025 2025 2025 Net Loss $ (38,004) $ (30,086) $ (29,293) $
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 – – 832 (+) Interest Income (21) (7,672) (15,414) (10,257) (+) Income tax prov
Slide 30: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) October 31, October 31, 2024 2025 Remaining performance obligations $ 145,890 $ 672,470 Cancelable amount of contract value 86,250 62,001 Backlog $ 232,140 $ 734,471 Note: Planet has a Fiscal Year (FY) ending Janu
Slide 31: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Free Cash Flow ($ in thousands) Three Months Ended October 31, 2024 October 31, 2025 Net cash provided by (used in) operating activities $ 4,076 $ 28,593 (-) Purchases of property and equipment (7,633) (26,704) (-) Capitalized internal-us
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, and restructuring costs. The Company defines
Slide 33: 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 34: Media Credits
EARNINGS UPDATE Media Credits Slide 17: ● Handelsblatt, September 25: Planet Labs is building a satellite factory in Berlin ● NYT, September 29: The Missiles Threatening Taiwan ● Bloomberg, October 8: Planet Labs to Launch Satellites Promising Images in an Hour ● Yahoo! Finance, October 9: Planet La