Planet Labs PBC PL
Planet's mission is to use space to help life on Earth, by imaging the world every day and making global change visible, accessible, and actionable. We have designed, built, launched, and operated hundreds of satellites used to collect a powerful and growing data set of over 3,000 images on average for every point on Earth's landmass, creating a non-replicable historical archive for analytics, machine learning, and insights. Complementing our foundational data offerings, we have advanced data processing capabilities that enable us to produce "AI-ready" data sets and offer AI-enabled solutions, either directly or through partnership with third parties. In addition, our satellite services arrangements provide a broad spectrum of advanced offerings to large scale government and enterprise customers, including designing and manufacturing customer-owned satellites. We also provide critical related services in these satellite services arrangements such as reliable mission systems engineering, launch procurement, ground station infrastructure, satellite operations, and maintenance. Separately, we also provide dedicated image tasking capacity on Company owned or customer owned satellites.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $307.7M | — | $244.4M | $220.7M | $191.3M | $131.2M | $113.2M | $95.7M | — |
| Cost of revenue | $135.2M | — | $104.6M | $107.7M | $97.2M | $83.0M | $87.4M | $102.4M | — |
| Gross profit | $172.5M | — | $139.7M | $113.0M | $94.0M | $48.2M | $25.8M | -$6.7M | — |
| R&D | $106.7M | — | $101.0M | $116.3M | $110.9M | $66.7M | $43.8M | $37.9M | — |
| SG&A | $88.1M | — | $77.1M | $80.1M | $80.7M | $56.7M | $32.1M | $27.0M | — |
| Total operating expenses | $267.6M | — | $255.8M | $282.7M | $269.7M | $176.3M | $113.2M | $99.8M | — |
| Operating income | -$95.1M | — | -$116.1M | -$169.7M | -$175.7M | -$128.1M | -$87.4M | -$106.5M | — |
| Interest expense | $3.4M | — | $832.0K | $0 | $0 | $8.8M | $9.4M | $6.9M | — |
| Pre-tax income | -$242.2M | — | -$120.7M | -$139.7M | -$161.1M | -$135.0M | -$126.0M | -$123.6M | — |
| Income tax | $4.7M | — | $2.5M | $815.0K | $847.0K | $2.1M | $1.1M | $130.0K | — |
| Net income | -$246.9M | — | -$123.2M | -$140.5M | -$162.0M | -$137.1M | -$127.1M | -$123.7M | — |
| EPS, basic | -0.80 | — | -0.42 | -0.50 | -0.61 | -1.72 | -2.87 | -2.89 | — |
| EPS, diluted | -0.80 | — | -0.42 | -0.50 | -0.61 | -1.72 | -2.87 | -2.89 | — |
| Shares, diluted (wtd. avg.) | $307.8M | — | $292.1M | $279.6M | $267.1M | $79.6M | $44.2M | $42.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $229.4M | — | $118.0M | $102.2M | $188.1M | $496.8M | $76.5M | $27.7M | $79.9M |
| Short-term investments | $410.6M | — | $104.0M | $215.0M | $226.9M | $0 | — | — | — |
| Receivables | $83.5M | — | $55.8M | $43.3M | $39.0M | $44.4M | $47.1M | — | — |
| Inventory | $6.1M | — | $0 | — | — | — | — | — | — |
| Total current assets | $775.4M | — | $302.2M | $370.2M | $475.7M | $551.5M | $125.4M | — | — |
| Property, plant and equipment | $150.6M | — | $121.7M | $113.4M | $108.1M | $133.3M | $159.9M | — | — |
| Goodwill | $143.5M | — | $136.3M | $136.3M | $112.7M | $103.2M | $88.4M | $88.4M | — |
| Other intangibles | $26.6M | — | $27.5M | $32.4M | $14.8M | $14.2M | $5.7M | — | — |
| Total assets | $1.15B | — | $633.8M | $702.0M | $752.7M | $821.4M | $399.3M | — | — |
| Accounts payable | $10.6M | — | $2.6M | $2.6M | $6.9M | $2.9M | $1.4M | — | — |
| Total current liabilities | $469.5M | — | $142.1M | $136.6M | $122.3M | $132.0M | $108.8M | — | — |
| Total liabilities | $957.3M | — | $192.5M | $184.0M | $176.6M | $173.2M | $291.8M | — | — |
| Retained earnings | -$1.45B | — | -$1.20B | -$1.08B | -$939.3M | -$777.0M | -$639.9M | — | — |
| Total equity | $188.4M | — | $441.3M | $518.0M | $576.1M | $648.2M | $107.5M | $217.6M | $305.8M |
Cash flow
| Fiscal year | FY2025 | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $134.4M | — | -$14.4M | -$50.7M | -$73.9M | -$42.2M | -$4.0M | -$33.7M | — |
| Depreciation and amortisation | $41.8M | — | $45.6M | $47.6M | $43.3M | $45.0M | $62.2M | $77.6M | — |
| Stock-based compensation | $55.0M | — | $48.5M | $57.1M | $75.5M | $42.0M | $14.0M | $5.1M | — |
| Capital expenditure | $76.7M | — | $44.3M | $38.0M | $10.4M | $10.3M | $26.1M | $16.7M | — |
| Investing cash flow | -$393.1M | — | $57.9M | -$33.6M | -$242.3M | -$25.1M | -$30.8M | -$27.2M | — |
| Financing cash flow | $357.1M | — | -$15.5M | -$1.6M | $7.9M | $489.2M | $83.9M | $8.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-241945.
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