Planet Labs PBC (PL) Q1 FY27 earnings call

Earnings call· Apr 2026 (Q1 FY27)· Industrials· Jun 4, 2026

Source: earnings call transcript

Planet Labs delivered a strong quarter, marked by record revenue and continued momentum in Defense & Intelligence, underpinned by rapid satellite deployment and AI innovation. The company is strategically investing in next-generation satellites and AI-powered solutions to sustain high growth and expand market reach, while maintaining financial discipline and aiming for annual free cash flow positivity.

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PL operating KPIs by quarter

PL operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Jan 2026 Q4 FY26	This call Apr 2026 Q1 FY27	Jul 2026 Q2 FY27	Change vs prior quarter
Backlog	$900M+ End-of-period backlog was over $900 million, approximately 79% growth year-on-year, providing us with excellent visibility to accelerating our revenue growth for the coming fiscal year. Source: earnings call transcript	~$906M End-of-period backlog was approximately $906 million, equating to approximately 72% growth year-on-year. Source: earnings call transcript	~$815M We estimate our backlog, which includes contracts with the termination for convenience clause, to be approximately $815 million, up approximately 11% year-over-year. Source: earnings call transcript	—
Recurring ACV percentage	98% Recurring ACV was 98% of our end-of-period ACV book of business, reflecting our continued focus on selling subscription data contracts and solutions as opposed to onetime professional or engineering services. Source: earnings call transcript	99% Recurring ACV was 99% of our end-of-period ACV book of business, reflecting our continued focus on selling subscription data contracts and solutions as opposed to onetime professional or engineering services. Source: earnings call transcript	98% Recurring ACV was 98% of our end-of-period ACV book of business, reflecting our continued focus on selling subscription data contracts and solutions as opposed to onetime professional or engineering services. Source: earnings call transcript	-1 pt
Annual or multiyear contracts percentage of ACV	~85% Approximately 85% of our end-of-period ACV book of business consists of annual or multiyear contracts, lower than prior periods as we have seen a higher proportion of large shorter-term government contracts signed in recent quarters. Source: earnings call transcript	~92% Approximately 92% of our end-of-period ACV book of business consists of annual or multiyear contracts. Source: earnings call transcript	~94% Approximately 94% of our end-of-period ACV book of business consists of annual or multiyear contracts. Source: earnings call transcript	—
Net dollar retention rate	116% Net dollar retention rate at the end of fiscal year '26 was 116% and net dollar retention rate with win backs was 118%. Source: earnings call transcript	113% Net dollar retention rate at the end of the first quarter was 113%, and net dollar retention rate with win backs was 114%. Source: earnings call transcript	109% Net dollar retention rate on ACV at the end of the second quarter was 109% and net dollar retention rate with win backs was 110%. Source: earnings call transcript	-4 pt
Net dollar retention rate with winbacks	118% Net dollar retention rate at the end of fiscal year '26 was 116% and net dollar retention rate with win backs was 118%. Source: earnings call transcript	114% Net dollar retention rate at the end of the first quarter was 113%, and net dollar retention rate with win backs was 114%. Source: earnings call transcript	110% Net dollar retention rate on ACV at the end of the second quarter was 109% and net dollar retention rate with win backs was 110%. Source: earnings call transcript	-4 pt
Remaining performance obligations	~$852.4M At the end of FY '26, our remaining performance obligations or RPOs were approximately $852.4 million, up about 106% year-over-year, of which approximately 34% apply to the next 12 months and 65% to the next 24 months. Source: earnings call transcript	~$816M At the end of Q1, our remaining performance obligations or RPOs were approximately $816 million, up over 80% year-over-year, of which approximately 35% apply to the next 12 months and 66% to the next 24 months. Source: earnings call transcript	~$753M At the end of Q2, our remaining performance obligations or RPOs were approximately $753 million, up approximately 9% year-over-year of which approximately 46% apply to the next 12 months and 68% to the next 24 months. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.