Planet Labs
ConvictionModerate
Vertically integrated: builds and operates its own satellite constellation, then monetizes the imagery as high-margin recurring data subscriptions (~99% recurring ACV) plus solutions/analytics and dedicated satellite-services contracts. Capital-intensive on the constellation side, SaaS-like on revenue.
Revenuefact
$94.2M Q1 FY27qtr ended Apr 30 2026); $307.7M FY26 (ended Jan 31 2026Rev growthfact
+42% YoY Q1 FY27+26% YoY FY26Gross marginfact
Non-GAAP 56% Q1 FY27GAAP 54%); 59% non-GAAP FY26Op marginfact
Still GAAP operating-loss-makingadj EBITDA roughly breakeven (-$1.0M Q1 FY27) after first full-year positive adj EBITDA of +$15.5M in FY26Capex intensityfact
~$81.5M capex / $307.7M rev = ~26% of revenue FY26guided $80–95M FY27 on a $425–441M base = ~19–21% (estimate, midpointsMarket cap
~$9.45Bfact, Jun 25 2026 close, $26.51/sh; 356.4M sh out; 52-wk range $5.42–$51.76 — stock is a ~5x off the lowPrice · 1-year trend
real · weekly$27+337% 1yUSD
52-week range
$6 – $51
52w lowas of 2026-06-25 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityModerate
Space / launch economics
Full context
position · longWeak
Space / launch economics
Full context
The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence