Planet Labs (PL) Surges 8.8% on Double-Digit Revenue Outlook

Planet Labs PBC (NYSE:PL) is one of the 10 Stocks Dominating Today’s Market Action.

Planet Labs saw its share prices jump by 8.76 percent on Thursday to close at $26.96 apiece as investors cheered its double-digit revenue growth outlook for fiscal year 2027 despite posting a dismal earnings performance last year.

In an updated report, Planet Labs PBC (NYSE:PL) said that it is targeting to grow 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.

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.

“[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.

Last year, Planet Labs PBC (NYSE:PL) doubled its net loss 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.

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