STOCK TITAN

Planet Labs Pbc Financials

PL
Source SEC Filings (10-K/10-Q) Updated Apr 30, 2026 Currency USD FYE January

This page shows Planet Labs Pbc (PL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PL FY2026

Revenue growth is finally translating into cash, but FY2026 also marks a sharp shift toward externally supported balance-sheet funding.

Between FY2024 and FY2026, operating margin improved from -76.9% to -30.9%. Free cash flow reached $57.6M in FY2026 even as net loss deepened to -$246.9M, showing reported earnings were pulled down by charges that did not consume operating cash.

Gross margin moved from 36.8% in FY2022 to 56.1% in FY2026, which points to a business getting more efficient at delivering each dollar of revenue. Because revenue also more than doubled over that span, the less-negative operating margin looks more like fixed-cost absorption than a temporary spending freeze.

The balance sheet changed shape quickly in FY2026: liabilities rose to $957.3M while equity fell to $188.4M. That pushed debt-to-equity to 5.1x and the current ratio down to 1.7x, so stronger cash generation now sits beside a much tighter and more financing-dependent capital structure.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 32 / 100
Financial Profile 32/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Planet Labs Pbc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Planet Labs Pbc has an operating margin of -30.9%, meaning the company retains $-31 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -47.5% the prior year.

Growth
63

Planet Labs Pbc's revenue surged 25.9% year-over-year to $307.7M, reflecting rapid business expansion. This strong growth earns a score of 63/100.

Leverage
65

Planet Labs Pbc carries a low D/E ratio of 1.82, meaning only $1.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
53

Planet Labs Pbc's current ratio of 2.81 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
10

Planet Labs Pbc's free cash flow margin of 18.7% results in a low score of 10/100. Capital expenditures of $76.7M absorb a large share of operating cash flow.

Returns
0

Planet Labs Pbc generates a -55.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -27.7% the prior year.

Piotroski F-Score Weak
3/9

Planet Labs Pbc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed
-0.54x

For every $1 of reported earnings, Planet Labs Pbc generates $-0.54 in operating cash flow ($134.4M OCF vs -$246.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-27.7x

Planet Labs Pbc earns $-27.7 in operating income for every $1 of interest expense (-$95.1M vs $3.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$307.7M
YoY+25.9%
5Y CAGR+22.1%

Planet Labs Pbc generated $307.7M in revenue in fiscal year 2026. This represents an increase of 25.9% from the prior year.

EBITDA
-$53.2M
YoY+24.5%

Planet Labs Pbc's EBITDA was -$53.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.5% from the prior year.

Net Income
-$246.9M
YoY-100.4%

Planet Labs Pbc reported -$246.9M in net income in fiscal year 2026. This represents a decrease of 100.4% from the prior year.

EPS (Diluted)
$-0.80
YoY-90.5%

Planet Labs Pbc earned $-0.80 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 90.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$57.6M
YoY+198.3%

Planet Labs Pbc generated $57.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 198.3% from the prior year.

Cash & Debt
$368.1M
YoY+175.8%
5Y CAGR+35.8%

Planet Labs Pbc held $368.1M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
56.0%
YoY-1.1pp
5Y CAGR+33.3pp

Planet Labs Pbc's gross margin was 56.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.

Operating Margin
-30.9%
YoY+16.6pp
5Y CAGR+46.4pp

Planet Labs Pbc's operating margin was -30.9% in fiscal year 2026, reflecting core business profitability. This is up 16.6 percentage points from the prior year.

Net Margin
-80.2%
YoY-29.8pp
5Y CAGR+32.1pp

Planet Labs Pbc's net profit margin was -80.2% in fiscal year 2026, showing the share of revenue converted to profit. This is down 29.8 percentage points from the prior year.

Return on Equity
-55.6%
YoY-27.9pp

Planet Labs Pbc's ROE was -55.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 27.9 percentage points from the prior year.

Capital Allocation

R&D Spending
$106.7M
YoY+5.7%
5Y CAGR+19.5%

Planet Labs Pbc invested $106.7M in research and development in fiscal year 2026. This represents an increase of 5.7% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$76.7M
YoY+73.2%
5Y CAGR+24.1%

Planet Labs Pbc invested $76.7M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 73.2% from the prior year.

PL Income Statement

Metric Q1'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Revenue $94.2M+8.4% $86.8M+6.9% $81.3M+10.7% $73.4M+10.7% $66.3M+7.7% $61.6M+0.5% $61.3M+0.3% $61.1M
Cost of Revenue $43.7M+9.9% $39.8M+14.8% $34.7M+11.4% $31.1M+4.9% $29.7M+27.1% $23.3M-1.7% $23.7M-17.5% $28.8M
Gross Profit $50.4M+7.2% $47.0M+1.0% $46.6M+10.2% $42.3M+15.5% $36.6M-4.2% $38.2M+1.9% $37.5M+16.1% $32.3M
R&D Expenses $33.4M+3.8% $32.2M+17.8% $27.3M+13.1% $24.2M+4.7% $23.1M+0.5% $23.0M-9.0% $25.2M-7.5% $27.3M
SG&A Expenses $29.1M-5.7% $30.8M+63.9% $18.8M+1.7% $18.5M-7.4% $20.0M+5.5% $18.9M+4.6% $18.1M-13.3% $20.9M
Operating Income -$34.9M+3.1% -$36.0M-96.3% -$18.3M-2.1% -$18.0M+21.1% -$22.8M-17.6% -$19.4M+14.3% -$22.6M+42.9% -$39.6M
Interest Expense $1.4M N/A $1.0M N/A $499K N/A $277K N/A
Income Tax $1.0M-58.7% $2.4M+212.0% $784K+57.7% $497K-46.4% $928K-15.3% $1.1M+4284.0% $25K-97.2% $897K
Net Income -$138.9M+8.9% -$152.5M-157.6% -$59.2M-162.0% -$22.6M-78.9% -$12.6M+64.1% -$35.2M-75.1% -$20.1M+48.1% -$38.7M
EPS (Diluted) $-0.40 N/A $-0.19-171.4% $-0.07-75.0% $-0.04 N/A $-0.07+46.2% $-0.13

PL Balance Sheet

Metric Q1'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Total Assets $1.3B+9.2% $1.1B+3.6% $1.1B+58.8% $696.4M+5.8% $658.4M+3.9% $633.8M+0.5% $630.8M-4.2% $658.4M
Current Assets $849.0M+9.5% $775.4M+2.8% $754.1M+112.2% $355.5M+9.4% $324.8M+7.5% $302.2M+0.2% $301.6M-7.7% $326.7M
Cash & Equivalents $368.1M+60.4% $229.4M-48.2% $443.3M+144.8% $181.1M+35.7% $133.5M+13.1% $118.0M-15.1% $139.0M-6.3% $148.3M
Inventory $9.3M+52.7% $6.1M N/A N/A N/A $0 N/A N/A
Accounts Receivable $61.6M-26.2% $83.5M+80.3% $46.3M-10.3% $51.6M-30.8% $74.7M+33.7% $55.8M+43.7% $38.9M-11.5% $43.9M
Goodwill $143.1M-0.2% $143.5M+3.2% $139.0M+0.2% $138.6M+0.1% $138.5M+1.6% $136.3M-0.8% $137.4M+0.1% $137.3M
Total Liabilities $807.7M-15.6% $957.3M+26.5% $756.5M+190.1% $260.7M+22.1% $213.6M+10.9% $192.5M+15.9% $166.2M-10.2% $185.1M
Current Liabilities $302.5M-35.6% $469.5M+148.9% $188.6M-7.3% $203.5M+31.7% $154.6M+8.8% $142.1M+10.1% $129.1M-7.6% $139.7M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $443.7M+135.5% $188.4M-46.1% $349.6M-19.8% $435.7M-2.0% $444.8M+0.8% $441.3M-5.0% $464.6M-1.8% $473.2M
Retained Earnings -$1.6B-9.6% -$1.4B-11.8% -$1.3B-4.8% -$1.2B-1.9% -$1.2B-1.0% -$1.2B-3.0% -$1.2B-1.7% -$1.1B

PL Cash Flow Statement

Metric Q1'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Operating Cash Flow $15.4M-25.2% $20.6M-27.8% $28.6M-57.8% $67.8M+290.7% $17.3M+375.6% -$6.3M-254.4% $4.1M+151.9% -$7.9M
Capital Expenditures $17.3M-19.9% $21.6M-19.1% $26.7M+31.6% $20.3M+149.9% $8.1M-30.0% $11.6M+52.0% $7.6M-49.5% $15.1M
Free Cash Flow -$1.9M-96.6% -$951K-150.3% $1.9M-96.0% $47.5M+414.6% $9.2M+151.6% -$17.9M-403.2% -$3.6M+84.5% -$23.0M
Investing Cash Flow $30.4M+114.9% -$204.4M-19.5% -$171.0M-779.8% -$19.4M-1217.1% $1.7M+113.2% -$13.1M-22.9% -$10.7M-120.9% $51.2M
Financing Cash Flow $95.2M+406.7% -$31.0M-107.8% $398.3M+39766.8% -$1.0M+89.0% -$9.2M-3830.9% -$233K+97.7% -$10.2M-273.3% -$2.7M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

PL Financial Ratios

Metric Q1'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Gross Margin 53.5%-0.6pp 54.2%-3.2pp 57.3%-0.3pp 57.6%+2.4pp 55.2%-6.8pp 62.1%+0.8pp 61.2%+8.4pp 52.9%
Operating Margin -37.1%+4.4pp -41.5%-18.9pp -22.6%+1.9pp -24.5%+9.9pp -34.4%-2.9pp -31.5%+5.4pp -36.9%+27.9pp -64.8%
Net Margin -147.5%+28.1pp -175.6%-102.7pp -72.8%-42.1pp -30.8%-11.7pp -19.1%+38.1pp -57.1%-24.3pp -32.8%+30.5pp -63.3%
Return on Equity -31.3%+49.6pp -80.9%-64.0pp -16.9%-11.7pp -5.2%-2.4pp -2.8%+5.1pp -8.0%-3.6pp -4.3%+3.8pp -8.2%
Return on Assets -11.1%+2.2pp -13.3%-8.0pp -5.3%-2.1pp -3.2%-1.3pp -1.9%+3.6pp -5.5%-2.4pp -3.2%+2.7pp -5.9%
Current Ratio 2.81+1.2 1.65-2.3 4.00+2.3 1.75-0.4 2.10-0.0 2.13-0.2 2.340.0 2.34
Debt-to-Equity 1.82-3.3 5.08+2.9 2.16+1.6 0.60+0.1 0.48+0.0 0.44+0.1 0.36-0.0 0.39
FCF Margin -2.0%-0.9pp -1.1%-3.4pp 2.3%-62.4pp 64.7%+50.8pp 13.9%+43.0pp -29.1%-23.3pp -5.8%+31.8pp -37.6%

Similar Companies

Frequently Asked Questions

Planet Labs Pbc (PL) reported $307.7M in total revenue for fiscal year 2026. This represents a 25.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Planet Labs Pbc (PL) revenue grew by 25.9% year-over-year, from $244.4M to $307.7M in fiscal year 2026.

No, Planet Labs Pbc (PL) reported a net income of -$246.9M in fiscal year 2026, with a net profit margin of -80.2%.

Planet Labs Pbc (PL) reported diluted earnings per share of $-0.80 for fiscal year 2026. This represents a -90.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Planet Labs Pbc (PL) had EBITDA of -$53.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

Planet Labs Pbc (PL) had a gross margin of 56.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Planet Labs Pbc (PL) had an operating margin of -30.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Planet Labs Pbc (PL) had a net profit margin of -80.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Planet Labs Pbc (PL) has a return on equity of -55.6% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Planet Labs Pbc (PL) generated $57.6M in free cash flow during fiscal year 2026. This represents a 198.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Planet Labs Pbc (PL) generated $134.4M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Planet Labs Pbc (PL) had $1.3B in total assets as of fiscal year 2026, including both current and long-term assets.

Planet Labs Pbc (PL) invested $76.7M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Planet Labs Pbc (PL) invested $106.7M in research and development during fiscal year 2026.

Planet Labs Pbc (PL) had a current ratio of 2.81 as of fiscal year 2026, which is generally considered healthy.

Planet Labs Pbc (PL) had a debt-to-equity ratio of 1.82 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Planet Labs Pbc (PL) had a return on assets of -19.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Planet Labs Pbc (PL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Planet Labs Pbc (PL) has an earnings quality ratio of -0.54x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Planet Labs Pbc (PL) has an interest coverage ratio of -27.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Planet Labs Pbc (PL) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

Back to top