Earth imaging company Planet Labs soars to all-time high share price on earnings

Shares of mid-cap satellite data provider Planet Labs surged 25.5% on Friday to a record high. The company reported record quarterly revenue and guides for significant growth ahead. Conflicts in the Middle East and Ukraine have underscored the need for situational awareness, and a growing number of industries are recognizing the value of space-based data solutions, writes Joe Tenebruso, a contributing Motley Fool stock market analyst.

Planet Labs shares rose 25.5% on the New York Stock Exchange on Friday to a record high of $33.80 per share. The stock ranked first by performance among all U.S.-listed companies on Friday, according to Yahoo Finance data.

The company reported that in its fiscal 2026, ended January 31, revenue increased 26% to a record $307.7 million. The net loss doubled to $246.9 million, but most of that – $161.4 million – was related to the revaluation of warrant liabilities due to appreciation in the share price, the company said. Over fiscal 2026, the company’s shares surged roughly 450%. On an adjusted basis, Planet Labs broke even – far better than Wall Street expected, Tenebruso writes.

Cofounder and CEO Will Marshall described fiscal 2026 as a “transformational year” for the company. He noted this was driven by growing demand for satellite services, including a November 2025 partnership with Google to explore the potential for building data centers in space.

Marshall noted that as of end-fiscal 2026, Planet Labs’ backlog had increased 79% to $900 million. This has enabled the data provider to project “strong growth for this year and beyond." In fiscal year 2027, it guides for revenue of approximately $415-440 million. This implies growth of at least 35% and up to 43%.

Demand for Planet Labs’ products is likely to surge in the coming years, Tenebruso says. The conflicts in the Middle East and Ukraine have demonstrated the acute need for situational awareness, while a growing number of industries are recognizing the value of space-based data solutions, he explains.

In addition to its partnership with Google, the company has contracts with the Swedish Armed Forces, NATO, and the government mapping and geodesy agencies in Germany and Slovenia, Planet Labs said in its latest quarterly report.

In February, the U.S. Department of Defense’s Missile Defense Agency selected Planet as a contractor for its SHIELD (Scalable Homeland Innovative Enterprise Layered Defense) program. This is part of the broader U.S. Golden Dome initiative to build a layered missile defense system. The current agreement with the Missile Defense Agency does not constitute a specific contract, but rather grants eligibility to compete for contracts.

Over the last 12 months, Planet Labs shares have surged 698%.

Wall Street analysts currently assign eight “buy” ratings versus three “hold” ratings to the stock. The average target price of $32.90 per share is below current levels.