Planet Labs PBC (PL) on Thursday reported a loss for the first quarter that widened from last year, hurt largely by a non-cash one-time charge. Revenues for the quarter increased 42%, driven by strong demand from government, defense, and commercial customers.
The company reported a net loss of $138.9 million, or $0.40 per share, compared with a loss of $12.6 million, or $0.04 per share, in the prior-year period.
The latest quarter included an approximately $106.5 million non-cash loss related to the revaluation of warrant liabilities following stock price appreciation.
Excluding special items, adjusted loss was $8.8 million, or $0.03 per share, unchanged from the year-ago period.
For the quarter, revenue increased 42% to $94.2 million from $66.3 million a year earlier.
Looking ahead, Planet expects second-quarter revenue of $102 million to $107 million. For fiscal 2027, the company continues to project revenue of $425 million to $441 million.
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