Planet Labs Q2 revenue beats estimates as traction in satellite services increases
PL•Outlook for Q3 and full year
- Planet Labs sees Q3 revenue between $101 mln and $105 mln
- Company expects full-year revenue between $430 mln and $441 mln
- Planet Labs expects full-year adjusted EBITDA profit between $3 mln and $10 mln
Analyst coverage and price targets
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the aerospace & defense peer group is "buy"
- Wall Street's median 12-month price target for Planet Labs PBC is $44.50, about 122.6% above its September 2 closing price of $19.99
Q2 revenue and earnings beat estimates
- US satellite imagery provider's Q2 revenue rose 58% yr/yr, beating analyst expectations
- Adjusted EPS for Q2 beat analyst expectations
- Company raised $120 mln from stock sales, boosting cash and investments to $865 mln
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Beat | $116.05 mln | $104.12 mln (10 Analysts) |
| Q2 Adjusted EPS | $0.02 | ||
| Q2 Loss Per Share |
