Planet Labs PBC (PL) Stock

Planet Labs PBC (PL) is a Technology stock trading at $22.15 (as of 2026-08-20), with a market capitalization of $7.65B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Planet Labs PBC designs, builds, and launches satellite constellations to collect Earth observation data and makes it available to customers through an online platform. Its offerings include cloud-based processing and harmonization capabilities for imagery time series and data analysis, along with related space hardware and software, serving commercial customers and government organizations.

Understand Planet Labs PBC: how it makes money

Planet Labs PBC builds and launches satellite constellations to deliver high-cadence geospatial data worldwide through an online platform, including its Open Geospatial Consortium cloud-native technology for processing and harmonizing imagery.

The profit model depends on selling continued access to processed, time-series geospatial data to customers, and then sustaining contract renewals and customer expansion (shown by Remaining Performance Obligations and Net Dollar Retention).

Business quality (Weak): Customer economics metrics point to expansion and repeat demand, but the company is not yet generating positive operating profit (operating margin is negative).

Bull case

  • Net Dollar Retention Rate (End of Fiscal Year 26) is above 100% (116%), indicating customers are expanding spend relative to prior periods: This supports the idea that demand is not only renewal driven, but also includes growth within the customer base.
  • Remaining Performance Obligations (End of Fiscal Year 26) is sizable (0.85 USD_B): This suggests the company has contracted future revenue tied to delivering geospatial data and related services.

Bear case

  • Operating margin is negative (-37.1%): Even with gross margin of 53.5%, current cost structure is not producing operating profitability.
  • Contract timing and delivery may matter for the near term, because Remaining Performance Obligations Applying to the Next Twelve Months is 34%, while 65% applies to the next two years: This implies a large portion of future demand is further out, which can make near-term performance more sensitive to execution and timing.
Valuation — source: SEC EDGAR (first-party)
Price$22.15
Market Cap$7.65B
Price / Book17.25
Price / Sales24.29
FCF Yield1.6%
DCF Value (model)$6.41
DCF Upside vs Price-71.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$307.73M
Net Margin-80.2%
Revenue Growth (YoY)25.9%
EPS Growth (YoY)90.5%
FCF Growth (YoY)-198.3%
Financial Health — source: SEC EDGAR
Altman Z-Score2.82 (grey)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderAlphabet Inc. ($985.21M)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorTechnology
IndustryElectronic Equipment
CEOWilliam Spencer Marshall
Employees810
CountryUS
IPO Date2021-04-26

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PL earnings history · PL institutional & insider holders · PL KPIs & operating metrics · PL financials · PL investor presentations & press releases · PL SEC filings · PL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.