Record quarterly revenue, expanding government contracts and a $865 million cash position strengthen Planet’s push into AI-powered geospatial intelligence and sovereign satellite services.
Planet Labs (PL) delivered record fiscal second-quarter 2027 revenue as growing demand for satellite services, defense applications and AI-powered geospatial intelligence fueled strong year-over-year growth.
Revenue jumped 58% to a record $116.1 million, marking Planet’s fourth consecutive quarter of meeting or exceeding the Rule of 40. Recurring annual contract value represented 98% of total ACV, highlighting the predictability of the company’s revenue base.
Profitability also improved. Planet generated adjusted EBITDA profit of $13.9 million, up from $6.4 million a year earlier, while its GAAP net loss narrowed to $9.4 million from $22.6 million. The company ended the quarter with $865.4 million in cash, cash equivalents and short-term investments, up 219% year over year.
Planet reported approximately $814.9 million in backlog and $753.1 million in remaining performance obligations, providing significant visibility into future revenue.
Government and defense demand remains a major growth driver. Planet recently secured an $8 million award from the National Geospatial-Intelligence Agency and was selected by the German government for a satellite-services contract with a potential value of €25 million over five years. The company also signed agreements with a European defense and intelligence customer and the Rwanda Space Agency.
Planet continues expanding its satellite infrastructure. The company successfully launched its Pelican-11 technology demonstration satellite in July and recently shipped Tanager-2 and 18 SuperDove satellites to Vandenberg Space Force Base for an upcoming SpaceX Transporter-18 mission.
Meanwhile, Planet is increasingly integrating artificial intelligence into its massive Earth-observation dataset. Its agentic AI application has entered open beta, allowing users to query satellite data using natural language.
For fiscal 2027, Planet expects revenue between $430 million and $441 million and adjusted EBITDA profit between $3 million and $10 million.
With satellite services gaining traction and government demand expanding, Planet is increasingly positioning itself at the intersection of space infrastructure, defense intelligence and AI-powered data analytics.
