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PL · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Planet Labs PBC (PL) stock moving?
PL fell from a $14.49 close on Oct 27 to $11.37 on Nov 5, the low of the period at $11.01, on heavy volume of 10.4M shares; no news item in the set explains that drop. The stock then recovered to $12.55 on Nov 6 and jumped 14.5% to $14.37 on Nov 9 on 11.0M shares, the largest volume of the period, after the Stoke Space multi-launch agreement to expand launch capacity for its constellation. On Nov 10 it closed at $14.27, slightly below the prior close but above the session VWAP of $14.08, with volume easing to 6.9M. The news flow also includes a Pelican-12 first light image (Nov 4) and a FarmQA AI agronomy partnership (Nov 3), which point to continued fleet and product expansion. The company will report fiscal Q3 results on Dec 10, 2026, and the set contains no revenue, margin or guidance figures, so the earnings outcome is the main unresolved factor. The launch deal lacks disclosed terms, and the rebound has already lifted the stock back near its late-October levels.
News behind the analysis
- Planet Labs PBC Announces Fiscal Third Quarter 2027 Earnings Release DatePlanet Labs will release results for the fiscal third quarter ended October 31, 2026, on December 10, 2026.
- Planet Labs Announces Multi-Launch Agreement with Stoke SpacePlanet Labs signed a multi-launch agreement with Stoke Space Technologies to secure expanded launch capacity for its Earth-imaging constellation. No financial terms were disclosed in the items reviewed.
- Planet Labs Stock Rallies 13%: What's Happening Today?Shares of Planet Labs rose on Monday after the Stoke Space launch agreement was announced.
- Planet Labs Signs Multi-Launch Agreement With Developer Of Reusable Launch Vehicles Stoke Space Technologies To Expand Launch Capacity For Its Constellation FleetPlanet Labs signed a multi-launch agreement with Stoke Space Technologies to expand launch capacity for its satellite constellation fleet.
- Planet Labs Releases First Light Image From Its Pelican-12 Satellite Captured Over Luanda, AngolaPlanet Labs published a first light image from its Pelican-12 satellite over Luanda, Angola, showing the new satellite is operating.
- FarmQA and Planet Labs PBC Announce Strategic Collaboration for AI-Powered Agronomic IntelligenceFarmQA and Planet Labs formed a partnership to develop and sell AI-driven agronomic intelligence tools for enterprise agriculture.
About Planet Labs PBC
Planet Labs runs the largest fleet of Earth-imaging satellites. It photographs almost the entire landmass of the planet every day and sells the images and data through an online platform. It is set up as a public benefit corporation, and its revenue has been growing fast: about $378 million over the last twelve months, up roughly 44%. The company is still losing money on a GAAP basis.
How it makes money
Most revenue comes from subscriptions and contracts for satellite images, data feeds and analytics. Defense and intelligence agencies in the US and allied countries are its biggest and fastest-growing customers. It also sells to civil governments and to businesses in fields like agriculture, forestry and mapping, and it increasingly signs large deals to build and run satellites for specific governments. The company reported a backlog of roughly $900 million, and its fiscal year ends in January.
What usually moves PL
- Defense and intelligence contract wins
- Government space and defense budgets
- Satellite launches and fleet expansion
- Progress toward profitability and cash burn
- Share dilution from capital raises or warrants