SAN FRANCISCO - Planet Labs PBC (NYSE: PL) reported second quarter fiscal 2025 results that showed revenue growth and a narrower loss compared to the prior year, though revenue came in slightly below analyst estimates. PL shares were down 2% following the announcement.
The satellite imagery and data company posted revenue of $61.1 million for the quarter ended July 31, up 14% year-over-year but below the consensus estimate of $61.82 million. Adjusted earnings per share came in at a loss of $0.06, beating expectations for a $0.08 per share loss.
Planet Labs saw strong demand from government customers, particularly in the defense and intelligence sector where revenue grew over 30% YoY. The company expanded its gross margin to 53% on a GAAP basis and 58% on a non-GAAP basis.
"We're pleased with the gross margin expansion and progress towards our profitability objectives that we saw during the quarter," said CEO Will Marshall.
For the third quarter, Planet Labs expects revenue between $61-64 million, compared to analyst estimates of $64.16 million. The company anticipates an adjusted EBITDA loss of $2-5 million.
Planet Labs ended the quarter with $249 million in cash and short-term investments. The company continues to target achieving adjusted EBITDA profitability in the fourth quarter of this fiscal year.
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