Al Root
Planet Labs' recent quarterly reports have sent its shares to the moon, and it reported another strong quarter on Wednesday evening.
For its fiscal third-quarter, the space-based Earth imaging company announced break-even earnings per share on sales of $81.3 million. Wall Street was looking for a six-cent loss on sales of $73.5 million. A year ago, Planet Labs reported a two-cent-per-share loss on revenue of $61.3 million. Planet Labs' fiscal year ends in January.
The company also updated its guidance. Prior guidance called for fiscal year 2026 sales of between $281 million and $289 million. Now the midpoint is $299 million. New guidance implies fourth-quarter sales of $78 million. Wall Street currently projects $72.2 million.
Planet Labs ended the quarter with cash and cash equivalents of almost $700 million.
Shares were up 10% after hours at $14.23.
Options markets imply the stock will move 16% up or down on Thursday. Shares have moved an incredible 28% on average after the past four quarterly reports. Shares have moved up twice and fallen twice over that span.
Shares jumped 48% after the company reported fiscal second-quarter earnings in September. The company reported sales of $73.4 million, better than the $66 million analysts projected.
Three months earlier, shares gained 49% after Planet Labs reported fiscal first-quarter numbers in June.
Those gains add up. Coming into the week, Planet Labs' stock was up 216% for the year. Shares rose 0.8% in regular trading on Wednesday, closing at $12.94, while the S&P 500 and Dow Jones Industrial Average gained 0.7% and 1.1%, respectively.
It's quite a streak of big post-earnings jumps. Moves with Planet Labs stock can be exacerbated by high short interest. Short sellers borrow stock in companies they don't own and sell it, betting on price declines. About 13% of Planet shares available for trading are sold short. That's relatively high. The average short interest for an S&P 500 stock is about 4%.
Write to Al Root at allen.root@dowjones.com
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(END) Dow Jones Newswires
December 10, 2025 16:39 ET (21:39 GMT)
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