US Stock Alert: Planet Labs drops 4% pre-market as Q1 business growth beats expectations but profitability indicators worsen

Glonghui June 5th｜American commercial satellite company Planet Labs (PL.US) fell 4% in pre-market trading. According to reports, Planet Labs’ Q1 fiscal 2027 revenue was $94.2 million, up 42% year-on-year and exceeding market expectations of $90 million. The growth was mainly driven by demand from government and defense customers. Backlog orders exceeded $906 million, a 72% year-on-year surge, providing strong visibility for future revenue. However, GAAP net loss was $138.9 million, much higher than $12.6 million in the same period last year. The main reason for the widening loss was not a deterioration in business, but a non-cash book loss of about $106.5 million caused by a warrant revaluation resulting from a rise in the stock price. Adjusted EBITDA loss was $1 million, compared with a profit of $1.2 million in the same period last year.