Planet Labs Q4 Revenue Jumps 41% with $900M Backlog
Planet Labs posted Q4 revenue of $86.8m, up 41% year-over-year, drove full-year sales to $307.7m and achieved adjusted EBITDA profitability with positive free cash flow. Backlog climbed 79% to $900m, and fiscal 2027 guidance calls for $415m-$440m revenue and break-even to $10m EBITDA.
1. Q4 Financial Results
Planet Labs reported Q4 revenue of $86.8 million, up 41% year-over-year, boosting full-year sales to $307.7 million. The company’s performance exceeded expectations and fueled a 20% share price jump on reporting day.
2. Profitability and Cash Flow
The firm achieved adjusted EBITDA profitability for the first fiscal year and generated positive free cash flow, highlighting operational efficiency. Net loss widened to $152.5 million primarily due to a $122.6 million warrant liability revaluation.
3. Backlog Expansion
Backlog reached a record $900 million, up 79% year-over-year, driven by increased government contracts, satellite launch agreements, and technology partnerships. This backlog provides greater revenue visibility for the upcoming fiscal year.
4. Fiscal 2027 Outlook
For fiscal 2027, Planet Labs projects revenue of $415 million to $440 million and adjusted EBITDA between break-even and $10 million. This guidance reflects continued demand for Earth observation data and planned operational scale-up.