Overview

• Planet reported fiscal Q2 revenue of $73.39 million, up 20% year over year, a GAAP net loss of $22.6 million, and adjusted EBITDA of $6.4 million, with positive free cash flow for a second straight quarter.
• The company lifted its fiscal 2026 revenue forecast to $281 million to $289 million and guided Q3 revenue to $71 million to $74 million, citing a record backlog and recent contracts with NATO and the German government.
• Planet announced a private offering of $300 million in convertible senior notes due 2030, including a $45 million overallotment option, with part of the proceeds earmarked for capped-call transactions and the rest for general purposes.
• Shares fell in after-hours trading Monday and declined again Tuesday morning following the financing announcement, retracing part of Monday’s post-earnings surge.
• Needham and JMP raised price targets and reiterated positive ratings after the beat, while flagging lower gross margin guidance and a flatter near-term revenue cadence linked to U.S. federal spending constraints.