Planet Labs (PL) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended July 31, 2026 and Planet Labs published the results on September 3, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Planet Labs reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Planet's fiscal year ends January 31, so Q2 fiscal 2027 is the three months ended July 31, 2026.
• Q2 fiscal 2027 revenue includes $14.1 million recognized at a point in time, mostly from delivering satellite hardware under satellite services contracts, against $0.8 million a year earlier.

Source: Planet Labs Q2 fiscal 2027 results, September 3, 2026. Also in the Form 10-Q for the quarter ended July 31, 2026. Figures as reported; checked against the release on November 10, 2026.

How Planet Labs splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Planet Labs's Civil Government revenue was $17.5 million in Q2 fiscal 2027, up 7% from $16.4 million in Q2 fiscal 2026, 15% of total revenue.
• Planet Labs's Commercial revenue was $17.6 million in Q2 fiscal 2027, up 17% from $15.1 million in Q2 fiscal 2026, 15% of total revenue.
• Planet Labs's Defense & Intelligence revenue was $81.0 million in Q2 fiscal 2027, up 93% from $41.9 million in Q2 fiscal 2026, 70% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2027 release, Planet Labs said:

“For the third quarter of fiscal year 2027, ending October 31, 2026, Planet expects revenue to be in the range of approximately $101 million to $105 million.”

“Non-GAAP gross margin is expected to be in the range of approximately 56% to 58%.”

“Adjusted EBITDA loss is expected to be in the range of approximately ($6) to ($1) million for the quarter.”

“For the full fiscal year 2027, Planet expects revenue to be in the range of approximately $430 million to $441 million.”

Source: Planet Q2 fiscal 2027 release (Form 8-K, Exhibit 99.1), Sep 3, 2026.

This is the company's own guidance as of Sep 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and basic and diluted net loss per share, each as first reported in that quarter's release. The losses in Q4 fiscal 2026 and Q1 fiscal 2027 include changes in the fair value of warrant liabilities; the last warrants were exercised or redeemed in April 2026.

Planet Labs's next report is scheduled for December 10, 2026. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Sep 3, 2026

Planet Labs' revenue was $116.1 million in Q2 fiscal 2027, up 58% from $73.4 million. Defense & Intelligence customers produced $81.0 million of it, against $41.9 million a year earlier, with $17.6 million from Commercial customers and $17.5 million from Civil Government. (Planet Q2 fiscal 2027 release, Sep 3, 2026; Planet Form 10-Q, Q2 fiscal 2027, Sep 3, 2026)

In its 10-Q, Planet said the $42.7 million increase was driven primarily by a $39.1 million increase in the defense and intelligence vertical, mainly from large contract expansions with existing customers and partly from delivering satellite hardware, which is recognized when control transfers. Point-in-time revenue was $14.1 million, against $0.8 million a year earlier; the rest, $102.0 million, was recognized over time. (Planet Form 10-Q, Q2 fiscal 2027, Sep 3, 2026)

By region, Europe, Middle East and Africa became Planet's largest market, at $55.2 million against $23.5 million a year earlier, ahead of North America at $39.0 million, Asia Pacific and Japan at $19.1 million and Latin America at $2.7 million. Three customers accounted for 17%, 11% and 10% of revenue in the quarter. (Planet Form 10-Q, Q2 fiscal 2027, Sep 3, 2026)

Most of Planet's revenue is recurring: 98% of annual contract value was recurring at the end of the quarter, and the net dollar retention rate for the first six months was 109%, against 107%. Remaining performance obligations were about $753.1 million, about 46% of it due in the next twelve months, and backlog was about $814.9 million. (Planet Q2 fiscal 2027 release, Sep 3, 2026; Planet Form 10-Q, Q2 fiscal 2027, Sep 3, 2026)

Planet Labs' GAAP net loss was $9.4 million, or $0.03 per share, against $22.6 million, or $0.07, in Q2 fiscal 2026. Non-GAAP net income was $8.3 million, or $0.02 per diluted share; the gap is mainly $17.1 million of stock-based compensation, which the non-GAAP figure excludes. (Planet Q2 fiscal 2027 release, Sep 3, 2026)

Warrant revaluations no longer move Planet's results. The year-ago quarter carried a $5.7 million loss from the change in fair value of warrant liabilities, and the first half of fiscal 2027 a $106.5 million loss; no public or private placement warrants were outstanding at July 31, 2026 after the public warrants were redeemed in April 2026. Interest income rose to $6.4 million from $2.2 million. (Planet Q2 fiscal 2027 release, Sep 3, 2026; Planet Form 10-Q, Q2 fiscal 2027, Sep 3, 2026)

Planet's weighted-average share count rose to 359,594,052 from 304,129,204. During the quarter it raised about $120 million selling stock under its at-the-market program, at an average net price of $31.95 per share, and its non-GAAP diluted EPS is calculated on 431,394,299 shares, including dilutive potential shares, with $1.3 million of interest on the 2030 Notes added back. (Planet Q2 fiscal 2027 release, Sep 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Planet Labs guides revenue, non-GAAP gross margin, adjusted EBITDA and capital expenditures in each release. For Q3 fiscal 2027 it expects revenue of about $101 million to $105 million, a non-GAAP gross margin of about 56% to 58%, and an adjusted EBITDA loss of about ($6) to ($1) million. For the full fiscal year 2027 it expects revenue of about $430 million to $441 million and adjusted EBITDA profit of about $3 and $10 million. (Planet Q2 fiscal 2027 release, Sep 3, 2026)

The Q3 revenue range sits below the $116.1 million reported for Q2. Planet does not reconcile its non-GAAP outlook to GAAP, citing stock-based compensation and depreciation and amortization as items it cannot reasonably predict. (Planet Q2 fiscal 2027 release, Sep 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Planet Labs, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Planet Labs's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PL is on is PL a buy or a sell?, what analysts expect next is on the PL forecast, and what the company does is on the Planet Labs (PL) stock page.

Every number on this page can be traced to a document Planet Labs published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.