Planet Labs soars with record $94M revenue and 42% growth in latest quarter

Planet Labs has reported strong financial growth in its latest quarterly results. The company, which sells daily Earth-imagery and analytics, saw record revenue and a significant rise in cash reserves. Its shares are listed on the New York Stock Exchange under the ticker PL. Planet Labs announced record quarterly revenue of about $94 million, a 42% increase compared to the same period last year. The company’s backlog now exceeds $906 million, indicating strong future demand. It also raised its full-year revenue guidance to approximately $425–441 million.

Cash and short-term investments grew by 223% year-over-year, reaching around $731 million. The firm is currently deploying its next-generation Pelican satellites, which offer higher-resolution imagery.

Other listed Earth-observation companies include Satellogic and BlackSky. Satellogic, trading on Nasdaq as SATL, reported first-quarter 2026 revenue up 80% year-over-year. BlackSky, listed on the NYSE as BKSY, specialises in rapid-revisit, very-high-resolution imagery and geospatial intelligence software. Meanwhile, Starfighters Space, Inc. joined the Russell 3000 Index on 29 June 2026. Planet Labs continues to expand its satellite capabilities and financial strength. The company’s revenue growth and increased cash position highlight its leading role in the Earth-observation sector. Its updated guidance and satellite deployments signal further development in the coming months.