Q4 25 EPS
$-0.08
Q4 25 Revenue
$61.6M
vs S&P Since Q4 25
+833.2%
BEATING MARKET
PL +860.9% vs S&P +27.8%
Full Year 2025 Results
FY 25 EPS
$-0.20
FY 25 Revenue
$244.4M
Market Reaction
Did PL Beat Earnings? Q4 2025 Results
Planet Labs closed out fiscal year 2025 on a milestone note, reporting record Q4 revenue of $61.55 million, up 5% year-over-year, and delivering its first-ever quarter of Adjusted EBITDA profitability at $2.38 million, a landmark that underscores the… Read more Planet Labs closed out fiscal year 2025 on a milestone note, reporting record Q4 revenue of $61.55 million, up 5% year-over-year, and delivering its first-ever quarter of Adjusted EBITDA profitability at $2.38 million, a landmark that underscores the company's gradual march toward sustainable economics. The non-GAAP loss per share came in at $0.08, though the GAAP net loss widened to $35.15 million, largely due to a $16.24 million non-cash hit from warrant liability revaluation tied to stock price appreciation rather than operational deterioration. The single most transformational development was a $230 million multi-year agreement with SKY Perfect JSAT to build and operate ten Pelican satellites, a deal that helped propel backlog to $498.46 million, up 115% quarter-over-quarter. For investors tracking the company's recovery trajectory, Planet's FY2026 revenue guidance of $260 million to $280 million, combined with management's expectation to at least double its revenue growth rate in FY2027, suggests the strategic momentum may be just beginning to translate into durable financial progress.
Key Takeaways
- • Record GAAP gross margin of 62% in Q4 (up from 55% YoY) and Non-GAAP gross margin of 65% (up from 58%)
- • First quarter of Adjusted EBITDA profitability in company history at $2.4 million
- • 97% recurring Annual Contract Value indicating high revenue predictability
- • Full year revenue growth of 11% year-over-year to record $244.4 million
PL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“Last year was an exciting and transitional year for Planet. We introduced a new industry-aligned go-to-market structure and began to shift towards selling AI-enabled solutions. We took a major step forward in the satellite services market and signed a $230 million contract with our long-term partner in Japan, JSAT. We launched over 70 satellites, including our first Tanager hyperspectral satellite and our second Pelican high resolution satellite, both of which are performing well in orbit.”
— Will Marshall, Q4 2025 Earnings Press Release
PL Earnings Trends
PL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PL EPS Trend
Earnings per share: estimate vs actual
PL Revenue Trend
Quarterly revenue: estimate vs actual
PL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 | — | — | — | — | — |
| Q3 26 BEAT | $-0.04 | $0.00 | +100.00% | $81.3M | +12.82% |
| Q2 26 BEAT | $-0.04 | $-0.03 | +33.04% | $73.4M | +11.30% |
| Q1 26 BEAT | $-0.03 | $0.00 | +100.00% | $66.3M | +6.45% |
| Q4 25 FY | — | $-0.08 | — | $61.6M | — |
| FY Full Year | — | $-0.20 | — | $244.4M | — |