Planet Labs PBC announced their financial results for the second quarter of fiscal year 2026, showcasing record revenue of $73.4 million and significant growth in backlog.
The company reported increased recurring annual contract value (RPOs) by +516% year-over-year to $690.1 million, with a backlog increase of +245% year-over-year to $736.1 million.
Planet Labs PBC also achieved positive free cash flow of $54.3 million year-to-date, marking another successful financial achievement.
Revenue Growth
Second quarter revenue increased by 20% year-over-year, reaching a record $73.4 million.
Profitability Milestones
Third quarter of adjusted EBITDA profitability and second quarter of positive free cash flow.
Financial Metrics
Non-GAAP gross margin for the second quarter was 61%, showing growth from previous years.
- Planet's strong financial performance reflects a robust demand for their Earth intelligence services, highlighted by key contracts with governmental and defense entities.
- The company's strategic partnerships with organizations like the U.S. Department of Defense and SwissRe contribute to revenue growth and market expansion.
Planet Labs PBC's financial results demonstrate a successful quarter with record revenue and positive cash flow, highlighting the company's position as a leader in providing Earth intelligence solutions. Their growing backlog and strategic partnerships indicate a promising outlook for future growth and innovation in the industry.