Results of operations

Summary

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• Second quarter revenue increased 58% year-over-year to a record $116.1 million, with 98% of annual contract value recurring.
• Second quarter net loss was ($9.4) million, compared to ($22.6) million in the second quarter of fiscal year 2026, and adjusted EBITDA profit was $13.9 million versus $6.4 million a year earlier.
• Cash, cash equivalents and short-term investments were $865.4 million at quarter end, up 219% year-over-year, including approximately $120 million raised from At-The-Market stock sales at an average net price of $31.95 per share.
• Planet launched the Pelican-11 technical demonstration satellite in July and shipped the Tanager-2 satellite and 18 SuperDove satellites to Vandenberg Space Force Base for the Transporter-18 mission with SpaceX.
• In August Planet received a new $8 million OTA award from the NGA and was awarded a German government tender for Satellite Services with a maximum possible value of 25 million euros over 5 years.
• For full fiscal year 2027, Planet expects revenue of approximately $430 million to $441 million and adjusted EBITDA profit of approximately $3 to $10 million.

Why it mattersThe results disclose Planet reaching adjusted EBITDA profitability while more than doubling its cash balance and expanding sovereign satellite services contracts. The quarter also documents satellite launches including Pelican-11 and the shipment of Tanager-2 and 18 SuperDoves.