Planet Labs (PL) Soars 36.5% on Double-Digit Growth Outlook

Planet Labs PBC (NYSE:PL) is one of the 10 Stocks Gaining Momentum Fast.

Planet Labs soared by 36.47 percent week-on-week, as investors took heart from its double-digit revenue growth outlook for fiscal year 2027 despite posting a dismal earnings performance last year.

In its earnings call, Planet Labs PBC (NYSE:PL) announced targets of growing its revenues by 35 to 43 percent to a range of $415 million to $440 million for the current fiscal year, while adjusted EBITDA is expected to either remain flat or increase by $10 million year-on-year.

Photo from Planet Labs website

For the first quarter alone, revenues are targeted at $87 million to $91 million, or an implied growth of 31 percent to 37 percent, while adjusted EBITDA is expected to swing to a loss of $3 million to $6 million, from a $1.2 million profit in the same period a year earlier.

The optimistic outlook overshadowed Planet Labs PBC’s (NYSE:PL) dismal earnings performance last fiscal year, during which net loss doubled to $242 million from $120.7 million year-on-year, dragged by a $161.4 million revaluation loss from fair value changes in relation to warrant liabilities related to stock price appreciation.

Revenues, however, increased by 26.6 percent to $307.7 million from $244 million year-on-year.

“[We] ended the year with $900 million of backlog, representing 79 percent growth year-on-year. With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond,” said Planet Labs PBC (NYSE:PL) Chairman and CEO Will Marshall.

“Consequently, we’re leaning in and investing in the huge market opportunity in front of us. Just as satellite services were transformative last year, we expect AI to be transformative this year, enabling us to unlock massive markets even faster. In all, we’re playing to win,” he added.

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