PL
Planet Labs PBC

Planet Labs PBCPL

Industrials · Aerospace & Defense
12.55USD
+10.38%
Nov 08, 2026
PL overview ready
Provider of daily-revisit commercial Earth-observation satellite imagery
Planet is a direct commercial provider of recurring satellite-imagery data, tasking, monitoring, and geospatial-data services.
Primary theme is lagging
Space is lagging (-13.9pp vs SPY over 21 sessions; 2 of 11 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Dependence on government contracts and budgets.
Market Nov 6Filing Jul 31Price action Nov 7Research Jul 21

Conviction Level

PriceAction1.4BusinessPerformance5.0BusinessQuality2.9Valuation2.3ThemeMomentum1.0Mixed — Revenue growth has accelerated across 4 consecutive quarters, rising from +33% to +58% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
SpaceLagging
vs SPY
−13.9pp
Theme return
−18.9%
Beating SPY
2 of 11
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$3.3B
Avg Volume (60D)
10.2M
60 sessions
Revenue Growth YoY
+25.9%
FY2026 vs FY2025
Gross Margin
+55.4%
Trailing twelve months
Operating Margin
-27.2%
Trailing twelve months
Free Cash Flow Yield
+0.8%
Distance from 200DMA
-52.4%
Next Earnings
2026-12-09
P/E
N/M
Market metrics as of Nov 6, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Business Performance

Mixed

Revenue growth has accelerated across 4 consecutive quarters, rising from +33% to +58% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q2 FY2027, ended Jul 31
Revenue growthAccelerating
+58%
$116M in Q2 FY2027 · YoY
YoY growth, last 4 quarters
  1. +33%
  2. +41%
  3. +42%
  4. +58%
Earnings growthLoss narrowing
-$0.03
Diluted EPS -$0.03 vs -$0.07 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginSwinging
-11.6%
+12.8 pp YoY · gross margin 56.5% (-1.1 pp)
Earnings improved more than operations did
The share count is rising

Business Quality

2.9 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
Planet Labs PBC has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. The business behind it shows an operating margin of -27% and net debt on the balance sheet.

What changed

  • PL rose 10.4% in one session
    PL closed +10.4% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
Planet is a direct commercial provider of recurring satellite-imagery data, tasking, monitoring, and geospatial-data services. Its daily-revisit Earth-observation constellation is particularly relevant where customers value persistent change detection rather than only occasional very-high-resolution collection.
Opportunity
High opportunity
Government and allied demand for commercially operated, persistent Earth-observation data and geospatial-intelligence services to support maritime domain awareness, crisis monitoring, defense planning, and intelligence workflows.
Key risk
Dependence on government contracts and budgets.

Economic classification

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Business & Markets

Industrials · Aerospace & Defense
What they do

Planet Labs PBC designs, builds, and launches satellite constellations to provide frequent, high-cadence Earth-observation data accessible via an online platform globally.

How it earns

The company generates revenue primarily through subscription-based access to its satellite imagery and geospatial data services.

Products & services
SuperDove satellites
SkySat satellites
Pelican satellites
Geospatial data platform
Customers & end markets
Government agencies
Defense and intelligence organizations
Commercial enterprises requiring geospatial intelligence
Market position

Leader in providing daily-revisit, persistent Earth-observation satellite imagery and geospatial data services.

Demand drivers
Medium cyclicality

Demand is influenced by government budgets and commercial adoption cycles but benefits from ongoing structural needs in defense and monitoring.

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