Overview
- Planet Labs reported breakeven adjusted earnings and $66.3 million in first-quarter revenue, surpassing FactSet estimates of $62.3 million.
- The company achieved its first quarter of positive free cash flow, generating $8.0 million.
- Shares climbed more than 50% during Thursday’s trading session, lifting year-to-date gains above 50% and quarterly gains to about 82%.
- For the second quarter, Planet Labs set sales guidance between $65 million and $67 million versus analysts’ $65.2 million projection.
- Operating over 200 satellites, the firm earlier secured a $230 million contract to advance its Pelican satellite rollout as it focuses on AI-enabled global insights.