Q1 26 EPS
$0.00
BEAT +100.00%
Est. $-0.03
Q1 26 Revenue
$66.3M
BEAT +6.45%
Est. $62.3M
vs S&P Since Q1 26
+689.5%
BEATING MARKET
PL +711.0% vs S&P +21.5%
Market Reaction
Did PL Beat Earnings? Q1 2026 Results
Planet Labs delivered what may be its most consequential quarter yet, posting fiscal Q1 2026 revenue of $66.27 million, up 9.6% year-over-year and ahead of the $62.25 million consensus by 6.45%, while reporting breakeven EPS of $0.00 against an expec… Read more Planet Labs delivered what may be its most consequential quarter yet, posting fiscal Q1 2026 revenue of $66.27 million, up 9.6% year-over-year and ahead of the $62.25 million consensus by 6.45%, while reporting breakeven EPS of $0.00 against an expected loss of $0.03, a 100% beat that underscored just how rapidly the company's financial profile is shifting. The single most telling driver was the company's first-ever positive free cash flow quarter at $8.00 million, paired with a second consecutive quarter of positive adjusted EBITDA at $1.20 million, compared to a loss of $8.40 million a year earlier. Remaining performance obligations surged 262% year-over-year to $451.93 million, signaling a meaningfully stronger contract foundation. Management backed the momentum with full-year FY2026 revenue guidance of $265 million to $280 million, while Q2 guidance of $65 million to $67 million suggests the growth trajectory remains intact heading into the summer quarter.
Key Takeaways
- • 10% YoY revenue growth to record $66.3 million
- • GAAP gross margin improved to 55% from 52% YoY
- • Non-GAAP gross margin improved to 59% from 55% YoY
- • Remaining performance obligations surged 262% YoY to $451.9 million
- • Backlog increased 140% YoY to $527.0 million
- • 97% of ACV is recurring in nature
- • First-ever quarter of positive free cash flow at $8.0 million
- • Second consecutive quarter of adjusted EBITDA profitability at $1.2 million
- • Net loss narrowed significantly to ($12.6) million from ($29.3) million YoY
PL YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“We had an excellent first quarter, exceeding our expectations, demonstrating solid validation of our strategic direction and great execution.”
— Will Marshall, Q1 2026 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 | — |