Planet Labs (NYSE:PL), a pioneer in daily Earth data and insights, announced record financial results for its fourth quarter and full fiscal year ended January 31, 2026.
The company demonstrated the scalability of its data-subscription model, reporting fourth-quarter revenue of $86.8 million, a 41% increase year-over-year.
Full-year revenue climbed 26% to a record $307.7 million, driven by expanding government defense contracts and growing demand for high-frequency monitoring in the agricultural and energy sectors.
A defining milestone for the fiscal year was the company's shift toward sustainable profitability.
Planet achieved its first-ever full year of positive adjusted EBITDA, totaling $15.5 million compared to a $10.6 million loss in fiscal 2025.
This transition was supported by a highly resilient revenue base, with recurring annual contract value (ACV) remaining at 98%.
Furthermore, the company generated $52.9 million in free cash flow for the year, a significant leap that underscores its ability to fund the next generation of satellite constellations through operations.
The company's GAAP net loss for the year widened to $246.9 million, though management noted this was largely due to a non-cash accounting requirement.
Specifically, $161.4 million of the loss stemmed from the revaluation of warrant liabilities—a direct result of Planet’s significant stock price appreciation during the period.
On a non-GAAP basis, which excludes these items, the fourth-quarter net loss was effectively break-even ($0.00 per share), highlighting the underlying strength of the core business.
Planet enters fiscal 2027 with a formidable "cash fortress" of $640.1 million in liquidity and no debt.
This capital position is earmarked for the accelerated rollout of the Pelican and Tanager constellations, which will provide higher resolution and hyperspectral data capabilities.