Planet Labs PBC (NYSE:PL) shares drove higher in Thursday's extended trading after the company released its fourth-quarter earnings report, beating revenue estimates and issuing a strong outlook.

The Details: Planet Labs reported quarterly revenue of $86.82 million, which beat the consensus estimate of $78.53 million and was up from $61.55 million in the same period last year, according to Benzinga Pro.

Planet Labs reported the following fiscal highlights:

  • Delivered record annual revenue of $308 million.
  • Increased RPOs 106% year-over-year to $852 million; Backlog +79% year-over-year to over $900 million.
  • Generated $134 million of net cash provided by operating activities and $53 million free cash flow.
  • End of period cash, cash equivalents and short-term investments increased 188% year-over-year to $640 million.

“Planet had a transformational year driven by strong momentum in satellite services, including most recently with Sweden, as well as launching 40 satellites, and inking an R&D partnership with Google to explore data centers in space,” said Will Marshall, CEO of Planet.

Outlook: Planet Labs expects first quarter revenue in a range of $87 million to $91 million, versus the $84.55 million analyst estimate, and fiscal 2027 revenue $415 million to $440 million, versus the $379.59 million estimate.

PL Stock Price: According to data from Benzinga Pro, Planet Labs stock gained 8.67% to $26.96 in Thursday's extended trading.  

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