Planet Labs PBC (NYSE:PL) shares surged after reporting second-quarter fiscal 2026 results that beat Wall Street estimates, driven by record revenue growth and raised guidance.
Revenue rose 20% from a year earlier to $73.39 million, above analyst estimates of $65.74 million. The company reported a GAAP net loss of $22.6 million, or 7 cents per share, compared with a loss of $38.7 million, or 13 cents per share, a year ago.
On a non-GAAP basis, net loss per share was 3 cents, beating expectations for a 4-cent loss. Adjusted EBITDA was $6.4 million, compared with a loss of $4.4 million a year earlier.
Gross margin improved to 58% from 53% a year earlier, while non-GAAP gross margin rose to 61% from 58%. Recurring annual contract value accounted for 98% …