Added to YB: 2026-04-09
Pitch date: 2026-04-06
PL [neutral]
Planet Labs PBC
-3.25%
current return
Author Info
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Company Info
Planet Labs PBC engages in the design, construction, and launch of constellations of satellites with the intent of providing high-cadence geospatial data delivered to customers through an online platform in the United States and internationally.
Market Cap
$12.1B
Pitch Price
$35.38
Price Target
120.00 (+228%)
Dividend
N/A
EV/EBITDA
-338.57
P/E
-43.67
EV/Sales
38.82
Sector
Professional Services
Category
growth
Planet Labs PBC - $PL
PL (deep dive): Only co imaging entire Earth daily; 15-yr archive = irreplicable moat deepening automatically. FY26: $308M rev (+26% YoY), +$15.5M EBITDA (1st positive ever), $52.9M FCF. $900M backlog (37% converts in 12mo, covers 78% of FY27 guide). Sovereign Satellite Services model (Germany €240M, JSAT $230M, Sweden) = customer-funded capex, retains excess capacity commercialization rights. D&I +50% YoY. FY27 guide: $415-440M (+39% YoY), $0-10M EBITDA, 50-52% GM (trough as construction-phase COGS hit, recovers to 60%+ in FY28). Risks: GM compression structural, NRO EOCL renewal ($21M baseline expires Jun-26), 26.5x fwd EV/rev at $35/sh requires 35% CAGR + GM recovery. Bull $80-120 (AI reacceleration, Owl success, sustained sovereign deals). Base $45-60. Bear $15-22 (GM miss, EOCL cut, multiple compression). Convertible notes $11.95 strike = 10% dilution overhang. Archive + AI platform = tech moat; valuation = execution bet.
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