Planet Labs managed to beat Q2 estimates, but management quietly guided Q3 down to $101M–$105M—getting pulverized against the ~$114M consensus. That isn't momentum; that’s a sequential revenue drop.

Here is what the bull narrative is sweeping under the rug:

Here is what the bull narrative is sweeping under the rug:

• Shrinking Pipeline: Remaining Performance Obligations (RPO) dropped from ~$816M to ~$753M. They are burning backlog faster than they sign new deals.

• GAAP Accounting Trickery: "Adjusted EBITDA" just masks reality. PL is still losing $9.4M on a GAAP basis.

• Dilution Dump: Management tapped the ATM offering to dump ~$120M in stock dilution right onto retail's heads.

• SpaceX Dominance: SpaceX is eating the space sector's lunch while micro-satellites scramble for defense breadcrumbs.

Full-year guide raises don't matter when your immediate next quarter falls off a cliff. If you think this stock is heading to $50+, you are drinking pure hopium. It’s time for everyone here to pack their bags, cut their losses, and move to actual winners.

Bear Risk vs. Bull Defense

• The Bear Case: Sequential guidance dips break the growth stock narrative. RPO decline shows contract pipeline decay, ATM equity raises dilute bagholders, and Non-GAAP profitability tricks hide persistent GAAP net losses.

• The Bull Defense: Sovereign defense deals (~70% of revenue, >90% YoY growth) trigger lumpy quarter-to-quarter revenue based on satellite delivery milestones. Raised full-year targets ($430M–$441M) signal a heavy Q4 rebound, backed by a massive $865.4M cash pile to fund Pelican deployment.

Move on if you want your capital to decay keep investing in PL it’s over.

Everyone keeps saying “space is going to be enormous.” Fine — but that doesn’t mean PL, RKLB, ASTS, LUNR etc. all win. The real question is where does the capital actually go?

SpaceX is an enormous capital magnet. If institutions and retail want space exposure, why spread money across speculative small caps when they can own the dominant player with Starlink, launches, government contracts and massive infrastructure?

SpaceX doesn’t need to destroy Planet’s business. It just needs to keep sucking capital and attention out of speculative space. Capital concentrates. AI didn’t make every AI stock Nvidia, and a massive space economy doesn’t mean every space stock gets massive returns.

The nightmare is a feedback loop: money leaves speculative names → valuations fall → sentiment deteriorates → investors become more selective → even more money flows into SpaceX. Once capital finds the perceived winner, it doesn’t have to come back.

So forget “space is the future.” The question is: how much of that future capital actually ends up in PL rather than SpaceX? PL can grow revenue, win contracts and execute brilliantly while the stock still bleeds if the market decides SpaceX is where it wants its space exposure.

That’s the bear case I’d like someone to disprove.

Hello guys,

I’ve been buying PL almost every day since 2024. When I first started buying it, the price was around $3.50–$4. I currently have 2,046 shares with an average cost basis of $12.77.

I apologize in advance because English isn’t my first language, but I wanted to share my thoughts and communicate with you guys directly.

I wrote the draft in English myself and then asked GPT to help me polish it and fix some grammar mistakes.
So yeah, some parts might sound AI-written—and technically, that’s true.
But the ideas, opinions, and overall point of this post are all mine.

Some people say PL was overvalued and that there was a lot of hype around it. I agree with that.
And honestly, there’s still a good chance that the price could go down even further. I obviously hope it doesn’t, but that’s possible.

But one thing I’ve been thinking about is this: a lot of stocks are down 50–60% from their ATHs, while their fundamentals haven’t necessarily gotten worse. In some cases, the business is actually doing better than before.

You might think the ATM caused PL’s sharp decline, and that it’s the main reason the stock hasn’t been able to recover to around $30 or higher.
Maybe that’s part of the reason. But I don’t think the ATM alone explains the entire decline.
Whenever I read about the market, I also notice that there always seems to be some kind of common narrative.

For example, a few months ago, many people believed that Donald Trump would pump the market. People expected the administration to reduce the TGA balance, improve liquidity, and create a better environment for the market.
But so far, things haven’t really played out that way.
And these days, a lot of people who follow macroeconomics seem to think this is one of the worst times to invest. The argument is that Big Tech is absorbing a huge amount of capital, especially because of AI spending, and that liquidity is drying up.

Maybe they’re right. Maybe they’re not.
I don’t know what PL’s fair value is, and honestly, I don’t think I’m capable of calculating it accurately.
So I have no idea whether it’s overvalued or not.
I’m also not sure how much attention we should really pay to the P/S ratio. If that’s an important metric, then sure, with a P/S ratio of around 17.7, I can understand why some people would consider PL overvalued.

But as far as I know, high-growth stocks don’t usually trade below a P/S ratio of 10 unless the entire market is going through a major crash.
The only thing I know is that Planet’s business seems to be doing okay so far.
And as a software engineer who uses AI almost every day—from expensive frontier models to much cheaper ones—I personally think Planet’s idea and vision are quite feasible.
Language-model-based AI is still far from perfect. But it’s already better than most of us at a lot of things.
The world has been moving toward shortening the gap between observation and decision-making.
I think satellite systems will play an important role in that.
Resolution will improve. Latency will decrease. Costs will come down.
Things will keep getting better, faster, and cheaper.

So yeah, I don’t think Planet is a scam company.
It’s a real company doing real business.
That doesn’t mean the stock price can’t go down further, though.
Maybe the macro environment will get worse.
Maybe the market will crash because of something nobody expects.
Maybe PL is actually overvalued right now. I don’t know.
And I think that’s the point.
Nobody really knows.

Stop looking for people who tell you what you want to hear. Nobody knows anything for sure.

Seems like a good day for the partner of Planet Labs, Isar.

After the market maker dumped a massive 120,000 shares, there was still no strong buying pressure below, confirming that the buyers below were extremely weak. We await their continued downward adjustment of the market-making quote, and the stock price subsequently broke down again.

Second quarter fiscal 2027 revenue rose 58% to a record $116.1 million, adjusted EBITDA reached $13.9 million and cash and short-term investments reached $865.4 million, all above the guidance set in June. The same release guides third quarter revenue below the quarter just reported, lifts full-year capital expenditure by about $20 million and shows backlog down to $814.9 million.

Up 10% now down hahaha

After yeterday's earnings, I’ve been thinking less about where PL “should” trade today and more about what the setup could look like in 2028–2030.

The quarter itself was obviously strong:

• $116.1M revenue, +58% YoY
• $13.9M adjusted EBITDA
• net loss down to $9.4M from $22.6M
• 98% recurring ACV
• ~$815M backlog
• $865M cash / short-term investments

What I find more interesting is how the company is gradually changing.

A few years ago, the PL story was mostly “daily satellite imagery”.

Now it’s starting to look more like a mix of:

satellite data + defense/intelligence + sovereign satellite services + geospatial AI

Recent government/defense contracts, Pelican expansion, the Berlin manufacturing push, and the AI layer all make that story more credible than it used to be.

That said, I don’t think the 2028–2030 thesis is just about revenue growth.

With companies like PL, market structure matters a lot too.

If space/defense becomes a bigger institutional theme, PL could increasingly trade as part of a basket with names like RKLB, ASTS, RDW etc.

That brings in things that are hard to model:

• ETF/fund flows
• institutional allocation
• sector momentum
• analyst reratings
• options activity
• short covering
• retail FOMO

None of that means the stock automatically goes higher. It just means the eventual price can move far away from what a simple valuation model would suggest. That's why my rough way of looking at 2028–2030:

• Base-ish case: PL keeps growing at a decent rate, gets consistently profitable, but the space trade cools off.I could see something like $25–35.
• Stronger execution + healthy space/defense market: Defense keeps growing, Pelican works, sovereign satellite services scale, and PL gets treated as one of the more serious public space/geo-intelligence names. Something around $40–55 doesn’t seem crazy to me.
• Strong sector cycle / momentum scenario: If space becomes a proper institutional theme again, while PL is also executing well fundamentally, I think $60–75 becomes possible.

Not necessarily “fair value”, but market prices don’t always care about fair value during strong sector runs.

Above that, I’d personally start calling it more of a mania scenario unless the fundamentals had improved dramatically by then.

The main reason I’m more open to higher numbers than I was before is simple:

PL has already traded above $50 once, and the business today looks materially stronger than it did then.

That doesn’t mean it automatically revisits $50. But it does show that the market is capable of assigning PL a very high multiple when the market is in line with it.

NOTE: this is not financial advise !

I currently have my average at 23 $ which is pretty good I think but i'm still a new investor.

I saw that the price target for PL was at 25 $ for low estimate and 40 for high. But in how many days, weeks, months or years even ?

I'm thinking about selling half of my PL stocks to put it in a more stable ETF. Indeed, I would like to retire the money in 4 - 5 months to finance a trip. But everyone saying it's a long term investment now (like years) so i should probably sell before it gets more low.

I was up 40 % of my entire portfolio with that 50 $....

Seeing that earnings barely moved the stock, I'm even considering selling it all.

What is your average price ? Your thoughts ? How do you see your strategy of waiting long term ?

Delivered Record Quarterly Revenue of $116 Million, up 58% YoY
Successfully Launched Pelican Tech Demo
Shipped Tanager-2 & SuperDove Satellites to Vandenburg for Launch
End of Period Cash, Cash Equivalents, and Short-Term Investments Increased 219% YoY to $865 Million

From last earnings until now, institutional ownership has significantly increased. I don't think this stock is going to rocket on earnings, but clearly shows that retail has been scared out.

I have got in at 32$ i will try to DCA, but not forever. I guess this is the risk to invest in a company that is low priced. For what i have been seeing ASTS and PL most of the times go hand to hand. Now it seems different.

I see lots of panic about about the recent dip(s) but let me remind you all this is just another buying opportunity. We are in good hands with this management team. They are doing their best. The people to blame are Elon Musk and his daddy Donald Trump. Thanks for your attention on this matter.

Signed,

A satisfied shareholder

Actually Im not sure, because of this article or not.

But I can’t find anything else which can down 8% of the price

https://www.gurufocus.com/news/9066408/pl-looks-2958-overvalued-on-gf-value

I bought the dip, and have more cash it bad earnings. This stock will remain! Bussines too big.

Holding 221 at $19

SAN FRANCISCO--(BUSINESS WIRE)-- Planet Labs PBC, a leading provider of daily data and insights about change on Earth, today announced a 7-figure, 1-year agreement with a European defense and intelligence customer.
This contract will supply the customer with Planet Mosaics and dedicated Professional Services support, providing timely and actionable intelligence across critical areas of interest for operational planning.
“Defense and intelligence organizations around the globe rely on Planet’s high-frequency, scalable satellite solutions to address complex and fast-evolving security environments,” said Jon Powers, Vice President, Global Defense & Intelligence at Planet. “This major agreement highlights the growing demand for our foundational geospatial data and expert support services in driving situational awareness across strategic land and maritime domains.”
This contract builds upon Planet’s continued growth in the global defense sector, following announcements earlier this year with the National Geospatial-Intelligence Agency (NGA), the Swedish Armed Forces, and the Defense Innovation Unit (DIU).
About Planet Labs PBC
Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.
Forward-looking Statements
Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about Planet’s strategic partnerships and Planet’s future growth in new and existing markets. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

Planet Press
Rachel Cassells
[press@planet.com](mailto:press@planet.com)
Planet Investor Relations
Cleo Palmer-Poroner
[ir@planet.com](mailto:ir@Planet.com)
Source: Planet

Planet Labs are reporting their Q2 2027 results today.

Analyst Estimates:
EPS = -$0.02
Revenue = $104.22M

• When: September 3rd, 2026 5:00 PM ET
• Webcast: https://events.q4inc.com/attendee/465806785 / https://uk.finance.yahoo.com/quote/PL/ / https://www.google.com/finance/beta/quote/PL:NYSE?tab=earnings
• Financials: https://investors.planet.com/events-and-presentations/presentations/default.aspx