Planet Labs just turned in a monster quarter

Record revenue, finally some rocket fuel

Planet Labs came out of Q4 looking less like a tiny space story and more like a real business. Revenue jumped 41% to a record, and adjusted EPS landed at breakeven — which is basically Wall Street’s version of “nice, you didn’t burn the kitchen down.”

The long game is where it gets interesting

Management didn’t just wave at the quarter and call it a day. It guided for 39% sales growth by 2027 and pointed to a 79% rise in fiscal 2026 backlog, which is investor-speak for “we’ve got a healthier pile of future work than we did before.” That’s the kind of setup growth investors love: more revenue today, more visibility tomorrow.

AI is becoming the co-pilot

The company also leaned into its partnerships with Nvidia and Google, saying AI helped deliver a 100x speedup in certain data-processing tasks. Translation: Planet isn’t just collecting imagery; it’s trying to make that imagery faster, smarter, and more useful — which is where the margin story could get juicier.

But geopolitics still has a seat at the table

There’s a wrinkle. Planet confirmed it complied with a U.S. government request to stop a data feed over a conflict zone in the Middle East. That doesn’t sound like a headline you want in your earnings deck, but it also underscores how strategically important the company’s data can be.

Big picture: Planet Labs is starting to look less like a speculative space trade and more like infrastructure with a growth engine — just with a side of geopolitical drama.