Planet Labs Pbc

Jun 4, 2026 at 8:25 PM UTC

Planet Labs PBC: Fiscal First Quarter 2027 Earnings Presentation

FISCAL 1Q'27

UPDATE

June 4, 2026

FIRST LIGHT • Ambursa, Nigeria • May 11, 2026 • Pelican

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. Planet includes these Non-GAAP financial measures because they are used by management to evaluate Planet's core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments.

Planet presents these Non-GAAP financial measures because Planet believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet's industry and facilitates comparisons on a consistent basis across reporting periods. Further, Planet believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of Planet's core operating performance.

Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP.

The Non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from Planet's. Further, the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for Planet and an important part of its compensation strategy.

Definitions of these Non-GAAP financial measures and reconciliations to the most directly comparable U.S. GAAP financial measures are included in the appendix to this presentation.

Financial Outlook

Planet has not reconciled its Non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses and depreciation and amortization, are uncertain or out of Planet's control and cannot be reasonably predicted. The actual amount of these expenses will have a significant impact on Planet's future GAAP financial results. Accordingly, a reconciliation of Planet's Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts.

EARNINGS UPDATE

PLANET'S MISSION

To image the whole world every day and make global change visible, accessible, and actionable.

EARNINGS UPDATE

The Planet Opportunity

Unique Data

Daily, Global Scanning

High Resolution Tasking

Hyperspectral

Highly Scalable Business Model

One-to-Many Data Model

Global Partner Network

Large Addressable Market

Agriculture

Energy

Defense & Intelligence

Insurance

Civil Government

Finance

Natural Resource Management

Technology and Services

EARNINGS UPDATE

Q1 at a Glance

Recent Highlights

Successfully launched 3 new Pelican satellites, including Sweden's ﬁrst sovereign reconnaissance satellite
Awarded 8-ﬁgure, one-year contract by international D&I customer for dedicated capacity
Received $21.9M, one-year contract extension from U.S. National Geospatial-Intelligence Agency (NGA)
Given new award by the NGA for Planet's Global Monitoring Service to support crisis response
Awarded $7.5M, six-month contract renewal by U.S. Navy
Signed 7-ﬁgure, two-year contract with the Greek Government
Won 7-ﬁgure, two-year contract from the Czech Paying Agency

42%

YoY Revenue Growth

Revenue of $94.2M in 1Q'27

~92%

Annual or Multi-Year Contracts

EoP 1Q'27

56%

Non-GAAP

Gross Margin1

in 1Q'27

($ 2.5M)

Free Cash Flow1

1Q'27

($ 1.0M)

Adjusted EBITDA1

in 1Q'27

$ 730.8M

Cash, Cash Equivalents, and Short-Term Investments

EoP 1Q'27

Note: Planet has a Fiscal Year (FY) ending January 31.

1 Non-GAAP ﬁnancial metric. Please refer to the deﬁnitions and reconciliation to the most comparable GAAP measure at the end of this presentation.

EARNINGS UPDATE

Customer Highlights

DEFENSE & INTELLIGENCE

8-ffigure Dedicated Capacity Deal

International D&I Customer

$21.9M Contract Extension under Luno B IDIQ

National Geospatial-Intelligence Agency

$7.5M Renewal

U.S. Navy

CIVIL GOVERNMENT

7-ffigure Award for National Satellite Space Project

Greek Government

7-ffigure Award for Ag Monitoring

Czech Paying Agency

7-ffigure Award for Planet AMS

Scottish Government

EARNINGS UPDATE

Solution: Global Monitoring Service

VIEW TRENDS OVER TIME

MONITOR THOUSANDS OF LOCATIONS

Made possible by Planet's unique global, near-daily archive

AI-enabled system that analyzes changes in infrastructure, objects and activities to deliver early intelligence for strategic planning and threat anticipation

EARNINGS UPDATE

Solution: Maritime Domain Awareness

MONITOR THOUSANDS OF PORTS AND

VESSELS GLOBALLY

Made possible by Planet's unique global, near-daily archive

MONITOR ACTIVITY & CLASSIFY VESSELS TYPES

High-frequency ocean and coastal monitoring with AI-enabled analytics for near real-time vessel identiﬁcation, classiﬁcation and tracking across open waters

EARNINGS UPDATE

Solution: Area Monitoring System

PARCEL MONITORING

Detect precise ﬁeld-level changes

MONITOR THOUSANDS OF FIELDS GLOBALLY

Made possible by Planet's unique global, near-daily archives

MONITOR ACTIVITY

Field-by-ﬁeld, capture health, moisture, mowing, plowing, greening, and harvest events

High-frequency satellite imagery powers timely crop monitoring, ﬁeld insights, compliance checks, API access and sustainability tracking

Satellite Services SWEDISH ARMED FORCES

On May 3, 2026, Planet launched three Pelican satellites aboard a SpaceX launch vehicle, bringing the total number of high-resolution Pelicans on orbit to nine. Notably, this mission included the Swedish Armed Forces' ﬁrst sovereign reconnaissance satellite, which launched just over four months after their contract was signed.

EARNINGS UPDATE WIP

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 patterns of life, geopolitical anomalies, and regional events based on Planet's high frequency scan of the Earth. It represents the industry's ﬁrst aircraft detection product offering insights at a global scale.

Gotland, Sweden • May 7, 2026 • Pelican

Product Launch PLANET SUPERRES

Planet announced SuperRes, an AI-powered technology to improve the resolution of PlanetScope data into a 2m-class resolution visual solution, providing clarity for human-in-the-loop analysis with scale and frequency.

EARNINGS UPDATE

SuperRes

Sumaré, São Paulo, Brazil • April 2026

EARNINGS UPDATE

Planet's Agentic Geospatial AI Application

PRIVATE BETA to DEVELOP A NATURAL LANGUAGE INTERFACE TO PLANET'S DATA

Planet launched the private beta of a new AI application, a pioneering tool focused on making Planet's massive global data archive queryable through natural language. By leveraging Planet's daily data and integrating LLMs, it can help non-technical users to search the data through space and time, conduct complex

time-series analysis, generate answers, and produce automated insights and analytic reports at speed and scale.

Wind Farm Buildout - PlanetScope Detections

Identify utility-scale wind power capacity expansion in Texas

Maritime Domain Awareness ANTELOPE REEF EXPANSION

Planet's high-frequency satellite imagery recently played a pivotal role in uncovering a rapid, unannounced Chinese land reclamation campaign at Antelope Reef in the South China Sea. By equipping organizations like the Open Source Centre with timely data, Planet empowers analysts to track critical geopolitical developments in real-time demonstrating the indispensable value of the platform for global security and transparency.

EARNINGS UPDATE WIP

AIRCRAFT DETECTION

Antelope Reef, Paracels Islands, South China Sea • February 17, 2026 • SkySat

Disaster Response SANDY FIRE

Planet's Pelican constellation is actively delivering high-resolution multispectral data to our customers. This false-color image highlights a Near-Infrared band to show the Sandy Fire in Simi Valley, California. The Near-Infrared and Red Edge sensing capabilities of Pelican allow organizations to perform deep analytics on agricultural yields, climate impact, and global security anomalies that traditional optical imagery cannot.

EARNINGS UPDATE

Sandy Fire, Simi Valley, California, USA • May 16, 2026 • Pelican • False Color

Launch Partners STARSHIP LAUNCH

Planet captured SpaceX's Starship V3 on the launch pad shortly before its historic, successful test ﬂight. We are proud to continue our ongoing strategic launch partnership with SpaceX as we prepare to bring our next generation of satellites to orbit.

EARNINGS UPDATE WIP

AIRCRAFT DETECTION

Starbase, Texas, USA • May 22, 2026 • SkySat

EARNINGS UPDATE

Planet Media Highlights

March 20 | Planet Labs Stock Surges as Governments Clamor for Access to Satellites

April 16 | Data centre delays threaten to choke AI expansion

March 26 | Welcome to 'New Russia': How the Kremlin is remaking occupied Ukraine

April 23 | Russian Offficials Say Town's Air Is Toxic, Days After Strike on Oil Reffinery

April 14 | Premier League stadiums from satellite imagery: What our writers learned

May 6 | A gold-fueled mining rush scars Brazil's Amazon, spiking deforestation and mercury risks

EARNINGS UPDATE

Diversiﬁed Business Mix

Q1 Revenue By Geography

37%

39%

21%

Q1 Revenue By Sector

17%

18%

65%

Civil Government

Commercial

Defense & Intelligence

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, and Africa ("EMEA"), and Latin America ("LATAM").

Note: From time to time, management conducts a review of the sector assignments of our customer accounts to ensure accuracy based on management's understanding of the end customer use cases at the time of evaluation. Based on management's determination, this review process may result in the re-assignment of certain customers.

EARNINGS UPDATE

Driving Growth

($ in millions)

Backlog1

72% YoY Gíowth

$906

$527

$220

1Q'25

1Q'26

1Q'27

Revenue

42% YoY Gíowth

$94.2

$60.4

$66.3

1Q'25

1Q'26

1Q'27

Note: Planet has a Fiscal Year (FY) ending January 31.

1Non-GAAP ﬁnancial measure. Please refer to the deﬁnitions and reconciliation to the most comparable GAAP measure at the end of this presentation.

EARNINGS UPDATE

Signiﬁcant Gross Proﬁt Expansion and Margin Discipline

Non-GAAP Gross Proﬁt1

($ in millions)

36% YoY Gíowth

$53

$33

$39

1Q'25

1Q'26

1Q'27

Rule of 401

41%

11%

1Q'25

1Q'26

1Q'27

Note: Planet has a Fiscal Year (FY) ending January 31.

1Non-GAAP ﬁnancial measure. Please refer to the deﬁnitions and reconciliation to the most comparable GAAP measure at the end of this presentation.

2026

Attention: This is an excerpt of the original content. To continue reading it, access the original document here.