Planet Labs PBC (NYSE: PL) surged 14.61% in pre-market trading Thursday, extending its post-market gains after reporting better-than-expected fiscal third-quarter results and raising its full-year revenue outlook.
The company posted revenue of $81.3 million, a 33% year-over-year increase that surpassed analyst estimates of $71.99 million. Adjusted earnings per share broke even, outperforming the anticipated $0.03 loss. Planet Labs also raised its fiscal 2026 revenue forecast to $297-$301 million, well above the consensus estimate of $285.5 million.
CEO Will Marshall attributed the strong performance to robust demand for AI-enabled global monitoring solutions, including contracts with the National Geospatial-Intelligence Agency (NGA) and NATO. The company achieved its fourth consecutive quarter of adjusted EBITDA profitability and maintained positive free cash flow, further bolstering investor confidence.
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