Q4 2025 Planet Labs PBC Earnings Call Transcript
Key Points
- Planet Labs PBC (PL) achieved a record $244.4 million in revenue for the full year, representing an 11% year-over-year growth.
- The company reached its target of adjusted EBITDA positive in Q4, marking the first time in its history.
- A landmark $230 million commercial agreement was signed with JSAT, enhancing their satellite services market presence.
- Backlog increased to almost $0.5 billion, up over 100% year-over-year, indicating strong future revenue potential.
- The launch of 74 satellites, including Pelican and Tanager spacecraft, expanded their operational capabilities.
- The commercial sector faced headwinds, particularly in agriculture, with revenue down more than 10% year-over-year.
- Despite growth in other sectors, North America revenue grew only approximately 5% year-over-year, indicating regional challenges.
- The company reported a full-year adjusted EBITDA loss of $10.6 million, despite improvements.
- Capital expenditures were higher than expected, driven by timing of procurements for satellite and ground station infrastructure.
- The company anticipates continued variability in expenses and a potential adjusted EBITDA loss in the upcoming quarter.
Good afternoon. Thank you for attending today's Planet Labs PBC fiscal fourth-quarter and full-year 2025 earnings call. My name is Jayla, and I'll be a moderator for today. (Operator Instructions)
And I'd like to turn the conference over to our host, Cleo Palmer-Poroner from the Investor Relations team. Cleo, you may proceed.
Thanks, operator, and hello, everyone. This is Cleo Palmer-Poroner from the Investor Relations team at Planet Labs PBC. Welcome to Planet's fiscal fourth-quarter and full-year 2025 earnings call.
I'm joined by Will Marshall and Ashley Johnson, who will provide a recap of our results and discuss our current outlook. We encourage everyone to please reference the earnings press release and earnings update presentation for today's call, which are available on our investor relations website.
Before we begin, we'd like to remind everyone that we will make forward-looking statements related to future events or our financial outlook. We also may
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