Planet Labs: from Daily Pictures to Satellite Services
How has Planet's business changed, and what do its 2026 results say about where EO money is made?
Chapter summary
Planet built the first fleet to image the Earth's land surface every day, using hundreds of small Dove satellites, and for years struggled to turn that into profit because daily 3 m imagery sold slowly.
Key takeaways
- 1
In 2025–2026 its growth came from a different product: satellite services, in which a government buys dedicated capacity or satellites, often high-resolution Pelicans, plus data and analytics.
- 2
In the quarter to 31 July 2026 Planet reported record revenue of $116.1 million, up 58%, positive adjusted EBITDA of $13.9 million, a narrowed net loss of $9.4 million and a backlog of about $815 million.
- 3
It guides to $430–441 million of revenue for its fiscal year to January 2027 and cites a $4 billion pipeline of satellite-services opportunities.
Key figures in this chapter
- $116.1M
- revenue, Q2 FY2027 (+58%)
- $13.9M
- adjusted EBITDA
- ~$815M
- backlog
- $430–441M
- FY2027 revenue guidance
Source: Planet 8-K, Sep 2026
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