Planet Labs (PL) stock had a weekend fling with Wall Street, soaring 48% after Monday’s earnings beat. Now it’s post-breakup blues-3.9% lower by 10:40 a.m. ET. Romantic, right? Right.
Planet Labs Q2 Earnings: A Tale of Half-Empty Glasses
Planet Labs lost $0.07 yesterday, which is about as thrilling as watching grass grow. But! They “adjusted” earnings to beat analysts, and GAAP revenue grew 20% YoY. Gross margins? A sprightly 58%, up 5 points. It’s like they took a crash course in margin yoga and aced it.
The real kicker? Free cash flow positivity, arriving a year late. Imagine promising your lover you’d be home by 8 and showing up at 9 with a half-eaten croissant. Not ideal, but hey-at least you’re not in the red anymore.
What Planet Labs Said, and What They Meant
In 2021, Planet Labs declared they’d hit 74% non-GAAP margins by 2026, grow revenue at 50% annually, and be free-cash-flow positive. They’ve hit exactly zero of those targets-on time. Free cash flow? A year late. Revenue? More of a “meh” than a “hell yes.” But here’s the kicker: The stock is cheaper than its IPO price. At $2.9B, with $100M FCF potential and 20% growth, it’s like finding a $20 bill in a $5 jacket. Or so I tell myself while clutching my coffee like it’s a life raft.
Let’s be real-investing is just a series of bad decisions dressed up in spreadsheets. Planet Labs isn’t perfect, but it’s not a dumpster fire. It’s more of a… flickering candle in a hurricane. Still, I’d rather light a candle than curse the dark. Or, as my ex would say, “You’re terrible at this.”
🚀
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2025-09-09 19:48