Planet Labs PBC (PL) Releases Q3 2026 Earnings: Revenue Beats, EPS Miss; Cash Flow Jumps, Net Loss Widens

Planet Labs PBC (PL) — Q3 2026 highlights

Revenue rose 32.6% year-over-year to $81.3 million, beating the consensus estimate of $74.1 million.

Gross profit increased 24.2% year-over-year to $46.6 million, while cost of sales climbed to $34.7 million (up 46.0% YoY).

Operating results remained negative, with an operating loss of -$18.3 million, a roughly 18.9% improvement year-over-year.

Net loss attributable to common shareholders widened to -$59.2 million, a change of about 194.7% year-over-year. Diluted EPS was -$0.19, below the estimate of -$0.04.

Operating cash flow showed a sharp improvement, increasing about 601.5% YoY to $28.6 million.

Capital spending (purchases of property, plant and equipment) rose to $26.7 million, up roughly 250% year-over-year.

Liquidity and balance-sheet moves: cash and cash equivalents stood at $443.3 million (up 219.0% YoY), while total liabilities increased to $756.5 million (up 355.3% YoY).

Overall, Planet Labs PBC (PL) delivered solid revenue growth and a meaningful boost to operating cash flow, but the company remains unprofitable on both an operating and net basis this quarter. Revenue beat expectations, while EPS missed, and the balance sheet shows larger liabilities alongside a much larger cash balance.

Planet Labs PBC Insider Trading Activity

Planet Labs PBC insiders have traded $PL stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $PL stock by insiders over the last 6 months:

CARL BASS sold 376,748 shares for an estimated $5,903,264
WILLIAM SPENCER MARSHALL (Co-Founder and CEO) sold 200,000 shares for an estimated $3,099,320
ROBERT H SCHINGLER (Co-Founder Chief Strategy Off.) sold 81,656 shares for an estimated $1,265,333

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Planet Labs PBC Hedge Fund Activity

We have seen 178 institutional investors add shares of Planet Labs PBC stock to their portfolio, and 115 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DRIEHAUS CAPITAL MANAGEMENT LLC added 8,310,284 shares (+137.1%) to their portfolio in Q3 2025, for an estimated $107,867,486
D. E. SHAW & CO., INC. added 4,763,462 shares (+288.2%) to their portfolio in Q3 2025, for an estimated $61,829,736
BARCLAYS PLC added 3,293,333 shares (+758.1%) to their portfolio in Q3 2025, for an estimated $42,747,462
INVESCO LTD. added 2,506,595 shares (+265.6%) to their portfolio in Q3 2025, for an estimated $32,535,603
BLACKROCK, INC. added 2,434,841 shares (+14.8%) to their portfolio in Q3 2025, for an estimated $31,604,236
TREXQUANT INVESTMENT LP added 2,096,972 shares (+1444.2%) to their portfolio in Q3 2025, for an estimated $27,218,696
PRICE T ROWE ASSOCIATES INC /MD/ added 1,844,771 shares (+1733.3%) to their portfolio in Q3 2025, for an estimated $23,945,127

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Planet Labs PBC Analyst Ratings

Wall Street analysts have issued reports on $PL in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Deutsche Bank issued a "Buy" rating on 10/21/2025
Needham issued a "Buy" rating on 10/20/2025
Cantor Fitzgerald issued a "Overweight" rating on 10/17/2025
Clear Street issued a "Buy" rating on 09/15/2025

To track analyst ratings and price targets for Planet Labs PBC, check out Quiver Quantitative's $PL forecast page.

Planet Labs PBC Price Targets

Multiple analysts have issued price targets for $PL recently. We have seen 8 analysts offer price targets for $PL in the last 6 months, with a median target of $15.0.

Here are some recent targets:

Gregory Pendy from Clear Street set a target price of $14.0 on 12/04/2025
Edison Yu from Deutsche Bank set a target price of $16.0 on 10/21/2025
Ryan Koontz from Needham set a target price of $16.0 on 10/20/2025
Colin Canfield from Cantor Fitzgerald set a target price of $20.0 on 10/17/2025
Daniel Ives from Wedbush set a target price of $17.0 on 10/02/2025
Trevor Walsh from JMP Securities set a target price of $11.0 on 09/09/2025
Anthony Valentini from Goldman Sachs set a target price of $4.6 on 06/30/2025