So, Planet Labs (PL +25.48%) had a Friday. Like, a good Friday. Apparently, sending tiny satellites into the void and then charging people to look at pictures of Earth is…a viable business model? Who knew? Turns out, revenue surged 41% to $86.8 million. It’s almost enough to make you believe in the future…or at least in the stock market.
Houston, We Have a Profit (Maybe)
They launched 40 satellites last year. Forty! That’s a lot of metal circling the planet. And they’re selling the data to everyone from the U.S. Department of Defense (because, obviously) to NATO, and even the Swedish Armed Forces. It’s like a celestial neighborhood watch program. I’m picturing a little satellite wearing a tiny visor, reporting back on suspicious activity. “Sir, I’ve detected a large gathering of people near a beach. Possible volleyball game in progress.”
Here’s the kicker: they broke even. On an adjusted basis, naturally. Because in corporate accounting, “breaking even” is a cause for champagne. Wall Street was bracing for a loss of 5 cents a share, so they basically exceeded expectations by…not losing money. It’s like getting a participation trophy, but for grown-ups with stock options. They also generated $53 million in free cash flow and have $640 million in cash and investments. So, they’re basically swimming in money…from space.
The Long View (From 400 Miles Up)
Planet Labs is predicting revenue between $415 and $440 million for fiscal 2027, up from $307.7 million. They’re aiming for up to $10 million in EBITDA. That’s…a number. And their backlog grew 79% to over $900 million. Which is great, as long as they can actually deliver on all those orders. CEO Will Marshall says they have a “healthy pipeline.” I’m imagining a network of tiny satellite plumbing, delivering data all over the world.
Honestly, with everything going on in the Middle East and Ukraine, and the increasing need for situational awareness, it makes sense. Plus, everyone needs to know what their competitors are up to. It’s the ultimate bird’s-eye view. Or, in this case, satellite’s-eye view. Demand for Planet’s offerings is likely to soar. Which, let’s be real, is a good thing. Because sending things into space is expensive. Like, really expensive.
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2026-03-21 03:12