Planet Labs Pbc · NYSE:PL
Planet Labs Pbc — Q2 2027 Earnings Presentation
32 slides from Planet Labs Pbc's earnings presentation, Sep 3, 2026
Slide 1: Fiscal 2Q'27 Update
FISCAL 2Q’27 UPDATE September 3, 2026 WORLD CUP FINAL • East Rutherford, New Jersey • July 19, 2026 • 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
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, Adjusted Free Cash Flow, Adjusted EBITDA and Rule of 40 which are non-GAAP measures Planet uses to supplement its results presen
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 Market Business Model Agriculture Energy Daily, Global Scanning One-to-Many Data Model Defense & Insurance High Resolution Intelligence Tasking Global Partner Network Civil Government Finance Hyperspectral Natural R
Slide 6: Q2 at a Glance
EARNINGS UPDATE Q2 at a Glance Recent Highlights ● Successfully launched Pelican-11 technical demonstration satellite ● Shipped Tanager-2 and 18 58% 59% $ 13.9M SuperDoves to Launch Site YoY Revenue Growth Non-GAAP Adjusted ● Received new $8M OTA award from Geospatial-Intelligence Revenue of $116.1M
Slide 7: Customer Highlights
EARNINGS UPDATE Customer Highlights CIVIL GOVERNMENT DEFENSE & INTELLIGENCE CIVIL GOVERNMENT New Tender Award for Satellite Services New $8M OTA Award New Contract Win German Civil Government National Geospatial-Intelligence Agency Rwanda Space Agency DEFENSE & INTELLIGENCE COMMERCIAL CIVIL GOVERNME
Slide 8: Solution: Global Monitoring Service
EARNINGS UPDATE Solution: Global Monitoring Service MONITOR THOUSANDS OF LOCATIONS Made possible by Planet’s unique global, VIEW TRENDS near-daily archive OVER TIME AI-enabled system that analyzes changes in infrastructure, objects and activities to deliver early intelligence for strategic planning
Slide 9: Solution: Maritime Domain Awareness
EARNINGS UPDATE Solution: Maritime Domain Awareness MONITOR THOUSANDS OF PORTS AND VESSELS GLOBALLY Made possible by Planet’s unique global, MONITOR ACTIVITY & near-daily archive CLASSIFY VESSELS TYPES High-frequency ocean and coastal monitoring with AI-enabled analytics for near real-time vessel id
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, near-daily archiv
Slide 11: Civil Government: Rwanda Space Agency and Aircraft Detection
EARNINGS UPDATE WIP Civil Government RWANDA SPACE AGENCY In June, Planet and the Rwanda Space Agency launched a national satellite data program to provide daily feeds and imagery to government agencies, public universities, and startups. Marking Planet’s first national program of its kind in Africa,
Slide 12: Monitoring Supply Chains
EARNINGS UPDATE WIP Monitoring Supply Chains INTERNATIONAL SUPPLY CHAIN EXPANSION As global manufacturing undergoes a structural shift, The Economist leveraged Planet’s daily satellite data to map and quantify the physical expansion of supply chains across emerging markets. The story illustrates how
Slide 13: Natural Disaster Response
EARNINGS UPDATE WIP Natural Disaster Response FLOODING IN NEPAL AND CHINA Planet’s high-frequency satellite imagery played a vital role in monitoring the severe flooding and landslides along the Nepal–China border. By rapidly deploying PlanetScope data and updating the open disaster data release in r
Slide 14: Defense & Intelligence
EARNINGS UPDATE WIP Defense & Intelligence BRIDGE CONSTRUCTION OVER TUMEN RIVER As North Korea and Russia advance bridge construction over the Tumen River, leading defense analysts and media outlets rely on Planet’s satellite constellation to track progress on both sides of the border. From identify
Slide 15: Planet Media Highlights
EARNINGS UPDATE Planet Media Highlights June 9 | Planet Labs CEO: Space June 24 | The most powerful July 7 | We Need Planetary is booming because real world economic indicator in the world Intelligence in the Age of AI applications are booming is orbiting above you August 1 | Oil leak spreads from a
Slide 16: Diversified Business Mix
EARNINGS UPDATE Diversified Business Mix Q2 Revenue Q2 Revenue By geography By sector 2% 15% 34% 15% 48% 70% 16% NAM APJ EMEA LATAM Civil Government Commercial Defense & Intelligence Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. Note: North Ame
Slide 17: Driving Growth
EARNINGS UPDATE Driving Growth Backlog1 Revenue ($ in millions) ($ in millions) 11% YoY Growth 58% YoY Growth $116.1 $815 $736 $73.4 $61.1 $214 2Q’25 2Q’26 2Q’27 2Q’25 2Q’26 2Q’27 Note: Planet has a Fiscal Year (FY) ending January 31. 1 © Copyright 2026 Planet Labs PBC All Rights Reserved 17 Non-GAA
Slide 18: Significant Gross Profit Expansion and Margin Discipline
EARNINGS UPDATE Significant Gross Profit Expansion and Margin Discipline Non-GAAP Gross Profit1 Rule of 401 ($ in millions) 70% 52% YoY Growth $68 $45 29% $35 6% 2Q’25 2Q’26 2Q’27 2Q’25 2Q’26 2Q’27 Note: Planet has a Fiscal Year (FY) ending January 31. 1 Non-GAAP financial measure. Please refer to the d
Slide 19: Focus on Sustainable Growth & Annual Profitability
EARNINGS UPDATE Focus on Sustainable Growth & Annual Profitability Annual Revenue Adjusted EBITDA1 Adjusted Free Cash Flow1 ($ in millions) $308 53 $244 15 $221 $191 (11) (41) $131 (57) (55) (57) (64) (87) (93) FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Note: Planet ha
Slide 20: Focus on Execution
EARNINGS UPDATE Focus on Execution Product & R&D Go-to-Market Financial ● Scale satellite services ● Focus direct sales force on large ● Drive strong and predictable customers in core growth verticals revenue growth ● Scale new AI-enabled solutions ● Leverage data & solutions to embed ● Gross margin
Slide 21: Fiscal 3Q'27 and FY'27 Outlook
EARNINGS UPDATE Fiscal 3Q’27 and FY’27 Outlook Key Drivers 3Q’27 FY’27 ● Large government sales opportunities ● Bringing AI-enabled solutions to market Revenue $101M - $105M $430M - $441M ● Launching next generation satellites ● Scaling in Satellite Services R&D investments in: Non-GAAP Gross ● Marg
Slide 22: Appendix
APPENDIX London Heathrow Airport • Hounslow, United Kingdom • April 07, 2026 • SkySat
Slide 23: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Non-GAAP Gross Profit and Gross Margin % ($ in millions) Three Months Ended July 31, 2024 July 31, 2025 July 31, 2026 GAAP Gross Profit $ 32.3 $ 42.3 $ 65.6 (+) Stock-Based Compensation 0.9 1.9 1.9 (+) Amortization of Acquired Intangible As
Slide 24: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Three Months Ended July 31, 2024 July 31, 2025 July 31, 2026 Net Loss $ (38,668) $ (22,592) $ (9,353) (+) Interest expense – 317 1,439 (+) Interest Income (2,771) (2,172) (6,433) (+) Income tax provision 8
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 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 26: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Backlog ($ in thousands) July 31, 2024 July 31, 2025 July 31, 2026 Remaining performance obligations $ 112,093 $ 690,066 $ 753,117 Cancelable amount of contract value 101,407 46,011 61,746 Backlog $ 213,500 $ 736,077 $ 814,863 Note: Plane
Slide 27: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Free Cash Flow ($ in thousands) Six Months Ended July 31, 2026 Net cash provided by (used in) operating activities $ 68,388 (-) Purchases of property and equipment (44,656) (-) Capitalized internal-use software (2,435) Free cash flow $ 21,
Slide 28: 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 29: Reconciliation of Non-GAAP Financial Measures
EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures Rule of 40 ($ in millions) Three Months Ended July 31, 2024 July 31, 2025 July 31, 2026 Revenue $ 61.1 $ 73.4 $ 116.1 YoY Growth 13.6% 20.1% 58.1% Adjusted EBITDA (4.4) 6.4 13.9 % Margin (7.2%) 8.7% 12.0% Rule of 40 6% 29% 70% Note: Plane
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 15: ● CNBC, June 9: Planet Labs CEO: Space is booming because real world applications are booming ● Fast Company, June 24: The most powerful economic indicator in the world is orbiting above you ● TIME, July 7: We Need Planetary Intelligence in the Age of AI ● AP,