Planet Labs (PL) Q2 FY2027 Earnings Overview: $116.1M Record Revenue Triggers a 1.25% Price Selloff

Planet Labs posted a large Q2 beat with record $116.1M revenue and $13.9M adjusted EBITDA, highlighting operating leverage amid strong defense/intelligence demand. However, the stock finished lower as Q3 guidance implied a sequential revenue step-down and a return to adjusted EBITDA losses, reinforcing concerns that the quarter benefited from contract timing. The read-through is largely idiosyncratic, with limited broader market implications.