Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q2 2026 Earnings Presentation
32 slides from Planet Labs Pbc's earnings presentation, Sep 8, 2025
Slide 1: Fiscal 2Q'26 Update
FISCAL 2Q’26 UPDATE September 8, 2025 CENTRAL PARK • Manhattan, New York • June 12, 2025 • SkySat
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: Non-GAAP Financial Measures
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 Natural Resource Insurance Energy Management Hyp
Slide 6: Q2 at a Glance
EARNINGS UPDATE Q2 at a Glance Recent Highlights ● Awarded €240M contract in collaboration with the German government $ 73.4M 61% $ 6.4M ● Awarded two contract options by US Department of Defense DIU Record Revenue Non-GAAP Adjusted ● Secured 7-figure expansion with the in 2Q’26 Gross Margin(1) EBITD
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights DEFENSE & INTELLIGENCE CIVIL GOVERNMENT DEFENSE & INTELLIGENCE 7-Figure Expansion 7-Figure ACV Renewal Expansion U.S. DoD DIU UK Rural Payments Agency U.S. National Reconnaissance Office COMMERCIAL CIVIL GOVERNMENT Six-Figure Win New Customer Farmdar Ministerio de
Slide 8: Pelican-3 Satellite First Light
EARNINGS UPDATE PELICAN-3 SATELLITE FIRST LIGHT On August 26, 2025, Planet announced the successful launch of its high-resolution, AI-enabled Pelican-3 and Pelican-4 satellites. This is one of the first images captured by the new satellites during early operations. Pelican-3 and Pelican-4 are current
Slide 9: Defense and Intelligence
EARNINGS UPDATE DEFENSE AND INTELLIGENCE According to the New York Times, a nuclear submarine base in the remote Far East of Russia sustained minor damage in July after the region was rocked by one of the strongest earthquakes in decades. A floating pier at the Rybachiy submarine base, one of the key
Slide 10: Monitoring Global Commerce
EARNINGS UPDATE MONITORING GLOBAL COMMERCE The Financial Times reported on the construction of TSMC's new ‘Fab 21’ in Arizona representing a landmark shift in the global technology supply chain. Planet's consistent monitoring provides unparalleled insight into the build-out of this strategic nationa
Slide 11: AI Infrastructure Monitoring
EARNINGS UPDATE AI INFRASTRUCTURE MONITORING This SkySat image shows the early stages of construction for Meta's new $10 billion AI-optimized data center in Richland Parish, Louisiana. The Financial Times reported the facility, which began site preparation in late 2024, is being built on former agri
Slide 12: Aircraft Detection and Infrastructure Monitoring
EARNINGS UPDATE WIP AIRCRAFT DETECTION INFRASTRUCTURE MONITORING Planet released its new Aircraft Detection Analytic Feed, which automates This daily SkySat detection of aircraft, image captures theincluding intricate commercial, construction of the ELT private,dome and military, on Cerroaround the
Slide 13: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights June 17 | Iran Satellite Images Show July 18 | Real-time Satellite Data, July 29 | Crowding of aid trucks Race to Get Its Oil Out Into the World AI Learning and More with Planet visible from space Labs CEO Will Marshall July 31 | Inside Planet’s Pelican Aug 4
Slide 14: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix 2Q’26 REVENUE by Geography 2Q’26 REVENUE by Sector 4% 21% 32% 42% 57% 22% 22% Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. Note: North America (“NAM”); Asia Pacific & Japan (“APJ”); Europe, Middle East,
Slide 15: Driving Growth
EARNINGS UPDATE Driving Growth ($ in millions) BACKLOG1 REVENUE $736 245% YoY Growth 20% YoY Growth $73 $61 $214 2Q’25 2Q’26 2Q’25 2Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. © Copyright 2025 Planet Labs PBC All Rights Reserved 15 1 Non-GAAP financial measure. Please refer to the defi
Slide 16: Driving Profits
EARNINGS UPDATE Driving Profits ($ in millions) ADJUSTED EBITDA1 FREE CASH FLOW1 46 6 (4) (25) 2Q’25 2Q’26 2Q’25 2Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. © Copyright 2025 Planet Labs PBC All Rights Reserved 16 1 Non-GAAP financial measure. Please refer to the definitions and reconci
Slide 17: Driving Operational Efficiency
EARNINGS UPDATE Driving Operational Efficiency ($ in millions) NON-GAAP GROSS PROFIT 1 ADJUSTED EBITDA1 27% YoY Growth 27% YoY Growth 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 2Q’26 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 2Q’26 Note: Planet has a Fiscal Year (FY) ending January 31. 1 ©
Slide 18: 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 % 23 $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 Gr
Slide 19: 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 20: Fiscal 3Q'26 and FY'26 Outlook
EARNINGS UPDATE Fiscal 3Q’26 and FY’26 Outlook Key Drivers 3Q’26 FY’26 ● Large government sales opportunities Bringing new AI-enabled solutions to market Revenue $71M - $74M $281M - $289M ● ● Bringing next generation high resolution and hyperspectral data to market Non-GAAP Gross Scaling in the sate
Slide 21: Appendix
APPENDIX PRESIDIO • San Francisco, California • August 21, 2025
Slide 22: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Margin % ($ in millions) Three Months Ended July 31, October 31, January 31, April 30, July 31, October 31, January 31, April 30, July 31, 2023 2023 2024 2024 2024 2024 2025 2025 2025 GAAP Gross Profit $ 26.3 $ 26.0 $ 32.5 $
Slide 23: 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 24: 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, July 31, 2023 July 31, 2024 July 31, 2025 2023 2024 2024 2024 2025 2025 Net Loss $ (37,975) $ (38,004) $ (30,086) $ (2
Slide 25: 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 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) July 31, 2024 July 31, 2025 Remaining performance obligations $ 112,093 $ 690,066 Cancelable amount of contract value 101,407 46,011 Backlog $ 213,500 $ 736,077 Note: Planet has a Fiscal Year (FY) ending January 3
Slide 27: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Free Cash Flow ($ in thousands) Three Months Ended July 31, 2024 July 31, 2025 Net cash provided by (used in) operating activities $ (7,858) $ 67,774 (-) Purchases of property and equipment (15,123) (20,291) (-) Capitalized internal-use s
Slide 28: 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 29: 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 30: 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 31: 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 32: Media Credits
EARNINGS UPDATE Media Credits Slide 13: ● Bloomberg, June 17: Iran Satellite Images Show Race to Get Its Oil Out Into the World ● CNBC, July 18: Real-time Satellite Data, AI Learning and More with Planet Labs CEO Will Marshall (Broadcast, Podcast) ● BBC, July 29: Crowding of aid trucks visible from