On March 20, 2025, Planet Labs PBC (PL, Financial), an Earth-imaging company, released its 8-K filing detailing the financial results for the fourth quarter and full fiscal year 2025. The company, known for providing daily satellite data to various sectors, reported record revenue and gross margin figures, yet faced challenges with a net loss per share that exceeded analyst expectations.
Company Overview
Planet Labs PBC is a leading provider of daily satellite imagery and geospatial solutions, serving businesses, governments, researchers, and journalists. The company aims to make global changes visible and actionable through its extensive satellite fleet.
Performance and Challenges
Planet Labs PBC reported a fourth-quarter revenue of $61.6 million, a 5% increase year-over-year, slightly below the analyst estimate of $61.87 million. The full-year revenue reached $244.4 million, marking an 11% increase from the previous year. Despite these gains, the company reported a fourth-quarter net loss of $35.2 million, translating to a GAAP net loss per share of $0.12, which is below the estimated EPS of -$0.06. The Non-GAAP net loss per share was $0.08.
Financial Achievements
Planet Labs PBC achieved record GAAP and Non-GAAP gross margins of 62% and 65%, respectively, for the fourth quarter. The company also reported its first quarter of Adjusted EBITDA profitability, with a profit of $2.4 million, compared to a $9.8 million loss in the same quarter of the previous year. These achievements are significant in the Aerospace & Defense industry, highlighting the company's operational efficiency and potential for future profitability.
Key Financial Metrics
| Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 |
|---|---|---|---|---|
| Revenue | $61.6M | $58.9M | $244.4M | $220.7M |
| Gross Margin (GAAP) | 62% | 55% | 57% | 51% |
| Net Loss | ($35.2M) | ($30.1M) | ($123.2M) | ($140.5M) |
| Adjusted EBITDA | $2.4M | ($9.8M) | ($10.6M) | ($55.3M) |
Analysis and Outlook
Planet Labs PBC's financial results reflect a company in transition, with significant investments in satellite technology and AI-enabled solutions. The company's backlog increased to $498.5 million, a 115% quarter-over-quarter rise, indicating strong future revenue potential. However, the net loss and EPS figures highlight ongoing challenges in achieving profitability.
“We delivered our first quarter of Adjusted EBITDA profitability in the Company’s history and saw further improvement in the fundamentals of the business,” said Ashley Johnson, Planet’s President and Chief Financial Officer.
Looking forward, Planet Labs PBC aims to leverage AI to enhance its solutions and expand its market presence. The company's strategic focus on innovation and customer relationships, as evidenced by recent agreements with SKY Perfect JSAT and the U.S. Department of Defense, positions it well for future growth.
Explore the complete 8-K earnings release (here) from Planet Labs PBC for further details.
