$PL

Planet Labs PBC

CIK:0001836833|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Income Statement [Abstract]
Revenue	$ 116,052	$ 73,386	$ 210,202	$ 139,651
Cost of revenue	50,420	31,118	94,169	60,780
Gross profit	65,632	42,268	116,033	78,871
Operating expenses
Research and development	35,156	24,155	68,576	47,229
Sales and marketing	21,498	17,574	44,280	33,888
General and administrative	22,487	18,499	51,574	38,485
Total operating expenses	79,141	60,228	164,430	119,602
Loss from operations	(13,509)	(17,960)	(48,397)	(40,731)
Interest income	6,433	2,172	11,586	4,056
Interest expense	(1,439)	(317)	(2,885)	(816)
Change in fair value of warrant liabilities	0	(5,679)	(106,474)	4,708
Other income (expense), net	(105)	(311)	(311)	(1,012)
Total other income (expense), net	4,889	(4,135)	(98,084)	6,936
Loss before provision for income taxes	(8,620)	(22,095)	(146,481)	(33,795)
Provision for income taxes	733	497	1,744	1,425
Net Income (Loss)	$ (9,353)	$ (22,592)	$ (148,225)	$ (35,220)
Basic and diluted net loss per share attributable to common stockholders - Basic	$ (0.03)	$ (0.07)	$ (0.42)	$ (0.12)
Basic and diluted net loss per share attributable to common stockholders - Diluted	$ (0.03)	$ (0.07)	$ (0.42)	$ (0.12)
Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders - Basic	359,594,052	304,129,204	352,675,790	302,230,578
Diluted and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders - Diluted	359,594,052	304,129,204	352,675,790	302,230,578

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Operating activities
Net Income (Loss)	$ (148,225)	$ (35,220)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	21,977	21,704
Stock-based compensation, net of capitalized cost of $1,352 and $1,318, respectively	33,521	25,998
Change in fair value of warrant liabilities	106,474	(4,708)
Change in fair value of contingent consideration	0	676
Other	262	1,538
Changes in operating assets and liabilities
Accounts receivable	23,946	2,363
Inventories	(552)	0
Prepaid expenses and other assets	(11,468)	272
Accounts payable, accrued and other liabilities	(2,536)	(4,342)
Deferred revenue	47,083	75,813
Deferred hosting costs	(2,094)	1,026
Net cash provided by operating activities	68,388	85,120
Investing activities
Purchases of property and equipment	(44,656)	(28,410)
Capitalized internal-use software	(2,435)	(2,420)
Maturities of available-for-sale securities	113,045	27,131
Sales of available-for-sale securities	56,458	9,254
Purchases of available-for-sale securities	(208,530)	(22,361)
Purchases of licensed imagery intangible assets	(535)	(892)
Other	(350)	0
Net cash used in investing activities	(87,003)	(17,698)
Financing activities
Proceeds from the exercise of common stock options	4,388	8,451
Payments for withholding taxes related to the net share settlement of equity awards	(26,040)	(12,436)
Proceeds from employee stock purchase program	2,608	1,163
Payments of contingent consideration for business acquisitions	0	(4,820)
Proceeds from the exercise of warrants	107,801	0
Proceeds from ATM Equity Offering	122,398	0
Issuance costs related to ATM Equity Offering	(2,012)	0
Other	(138)	(2,521)
Net cash provided by (used in) financing activities	209,005	(10,163)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents	(2,316)	5,677
Net increase in cash and cash equivalents, and restricted cash and cash equivalents	188,074	62,936
Cash and cash equivalents, and restricted cash and cash equivalents at the beginning of the period	235,554	129,994
Cash and cash equivalents, and restricted cash and cash equivalents at the end of the period	$ 423,628	$ 192,930

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 31, 2026
Current assets
Cash and cash equivalents	$ 415,130	$ 229,441
Restricted cash and cash equivalents, current	1,891	642
Short-term investments	450,288	410,649
Accounts receivable, net of allowance of $0 and $3, respectively	59,870	83,528
Inventories	8,852	6,118
Prepaid expenses and other current assets	62,759	44,984
Total current assets	998,790	775,362
Property and equipment, net	176,090	150,573
Capitalized internal-use software, net	22,051	21,475
Goodwill	142,701	143,452
Intangible assets, net	28,431	26,633
Restricted cash and cash equivalents, non-current	6,607	5,471
Operating lease right-of-use assets	48,871	14,588
Other non-current assets	7,423	8,132
Total assets	1,430,964	1,145,686
Current liabilities
Accounts payable	10,355	10,612
Accrued and other current liabilities	56,078	55,874
Deferred revenue	281,215	220,572
Liability from early exercise of stock options	0	1,793
Operating lease liabilities, current	3,622	7,296
Public and private placement warrant liabilities	0	173,308
Total current liabilities	351,270	469,455
Deferred revenue	17,364	27,522
Deferred hosting costs	1,885	4,034
Operating lease liabilities, non-current	46,746	8,300
Convertible notes	448,255	446,884
Other non-current liabilities	1,093	1,060
Total liabilities	866,613	957,255
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, $0.0001 par value, 570,000,000, 30,000,000 and 30,000,000 Class A, Class B and Class C shares authorized at July 31, 2026 and January 31, 2026, 340,163,832 and 312,421,506 Class A shares issued and outstanding at July 31, 2026 and January 31, 2026, respectively, 21,157,586 Class B shares issued and outstanding at July 31, 2026 and January 31, 2026, 0 Class C shares issued and outstanding at July 31, 2026 and January 31, 2026	36	34
Additional paid-in capital	2,159,029	1,631,896
Accumulated other comprehensive income	3,372	6,362
Accumulated deficit	(1,598,086)	(1,449,861)
Total stockholders’ equity	564,351	188,431
Total liabilities and stockholders’ equity	$ 1,430,964	$ 1,145,686