Planet Labs Soars on Strong Q3 Performance and Defense Sector Expansion
Planet Labs stock surged 16% following a Q3 earnings beat, with revenue reaching $81.25 million against expectations of $71.99 million. The satellite imaging company's strategic pivot toward government and defense contracts is yielding results, while commercial performance remains moderately down.
Management's bullish guidance for Q4 ($76-80 million) and FY2026 ($297-301 million) reflects confidence in their Berlin facility expansion, which will double Pelican satellite production capacity. The Tanager methane detection program continues to demonstrate strong technical performance.
Year-to-date gains of 220% underscore growing market recognition of Planet Labs' dual-use technology potential in both defense and environmental monitoring applications.
