10-Q

Quarterly report

✓ VerifiedPlanet Labs revenue rose 58% to $116.1 million in Q2, driven by a $39.1 million increase in the defense and intelligence vertical, while net loss narrowed to $9.4 million.

Filed Sep 3, 2026 · 16:52 ET

Summary

Revenue increased $42.7 million, or 58%, to $116.1 million for the three months ended July 31, 2026, from $73.4 million a year earlier, primarily driven by a $39.1 million increase in the defense and intelligence vertical.
Net loss narrowed to $9.4 million for the quarter from $22.6 million a year earlier, and Adjusted EBITDA was $13,928 thousand versus $6,406 thousand.
For the six months, revenue was $210.2 million, up 51%, but net loss widened to $148.2 million, driven by a $106,474 thousand change in fair value of warrant liabilities.
Cash and cash equivalents were $415.1 million and short-term investments were $450.3 million as of July 31, 2026.
In September 2025, the Company issued $460.0 million of 0.50% Convertible Senior Notes due 2030, with net proceeds of $445.8 million.
Under the June 2026 ATM Equity Offering, the Company sold 3,782,460 shares of Class A common stock for aggregate gross proceeds of $122.4 million.

Key facts

Q2 revenue: $116.1 million
From the filing for Q2 revenue
“Revenue increased $42.7 million, or 58%, to $116.1 million for the three months ended July 31, 2026 from $73.4 million for the three months ended July 31, 2025.”
Defense and intelligence increase: $39.1 million
From the filing for Defense and intelligence increase
“The increase was primarily driven by a $39.1 million increase in the defense and intelligence vertical.”
Q2 net loss: $9.4 million
From the filing for Q2 net loss
“We generated net losses of $9.4 million and $22.6 million for the three months ended July 31, 2026 and 2025, respectively.”
Six-month net loss: $148,225
From the filing for Six-month net loss
“Net loss $ ( 9,353 ) $ ( 22,592 ) $ ( 148,225”
Warrant fair value change: 106,474
From the filing for Warrant fair value change
“Change in fair value of warrant liabilities - ( 5,679 ) ( 106,474”
2030 Notes: $460.0 million
From the filing for 2030 Notes
“In September 2025, we issued $460.0 million in aggregate principal amount of 0.50% Convertible Senior Notes due 2030”
ATM Equity Offering: 3,782,460 shares
From the filing for ATM Equity Offering
“we sold 3,782,460 shares of Class A common stock under the ATM Equity Offering for aggregate gross proceeds of $122.4 million”
Net Dollar Retention Rate: 109 %
From the filing for Net Dollar Retention Rate
“Net Dollar Retention Rate increased to 109% for the six months ended July 31, 2026, as compared to 107% for the six months ended July 31, 2025, primarily due to large defense and intelligence contract expansions.”

Why it mattersThe defense and intelligence vertical drove a 58% revenue jump and satellite hardware deliveries, while the balance sheet holds $415.1 million cash plus $450.3 million short-term investments after the $460.0 million convertible notes and ATM raises.

Filed: Sep 3, 2026
Accepted: 2026-09-03 20:52Z
Period: Jul 31, 2026
Accession no.: 0001193125-26-382016
Size: 14.5 MB
Index: Filing index

Summary

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