Earth Intelligence

Planet Labs PBC (PL) reported record Q2 revenue of $73.4M, a 20% YoY increase, and a 516% YoY increase in RPOs to $690.1M. Backlog grew 245% YoY to $736.1M. The company generated $85.1M in year-to-date net cash from operating activities and $54.3M in positive free cash flow. Planet launched two high-resolution Pelican satellites and secured key contracts with the U.S. DoD, NATO, and the German government. They ended the quarter strong with revenue growth, positive EBITDA, and $271.5M in cash, cash equivalents, and short-term investments.