Planet Labs reported a government‐contract backlog of $734.5 million as of January 2026, representing a 216% year-over-year increase from $232.7 million at the same point in 2025. This backlog includes multi-year agreements for imagery services with U.S. defense agencies and recent deals such as a €240 million contract with the German government secured in 2025 for dedicated Pelican-series satellite capacity, PlanetScope imagery and AI-enabled analytics. The burgeoning pipeline of public-sector work provides investors with greater revenue visibility and reduces reliance on quarterly commercial sales cycles.

In its third quarter ended December 31, Planet Labs posted record revenue of $81 million, up 33% year-over-year and beating the average analyst estimate of $72 million. Non-GAAP net loss narrowed to less than $1 million, or roughly $0.00 per share, compared with a net deficit of over $8 million in the year-ago quarter and consensus forecasts for a $0.04 per share loss. The company achieved a gross margin of 58%, up from 52% a year earlier, driven by higher utilization of its satellite fleet and cost efficiencies in ground-station operations.

On the last business day of November 2025, Planet Labs successfully launched two Pelican-series satellites—Pelican-5 and Pelican-6—equipped with AI-driven high-resolution imaging payloads. Within two weeks of deployment, Pelican-6 captured detailed imagery of Lhasa Gonggar Airport in Tibet, demonstrating sub-meter resolution and on-orbit rapid processing. These new platforms bolster Planet Labs’ capacity to deliver daily revisit rates over high-priority areas for defense and commercial customers, reinforcing its position as a go-to provider for time-sensitive Earth-observation data.