Planet Labs PBC (PL · NYSE)

Planet Labs shares have fallen 44.9% over three months to $17.43, leaving the stock 66.1% below its 52-week high despite a strong Q2 (quarter ended 2026-07-31) that showed revenue of $116.1M, positive EBITDA of $3.6M, and positive free cash flow of $25.6M. The company is growing fast — revenue up 58.1% YoY on a TTM base of $378.3M — but remains unprofitable with a -95.1% profit margin, -72.0% ROE, and a rich 16.77x price-to-sales multiple. The balance sheet looks adequate, with $415.1M in cash against $448.3M total debt and a 2.84 current ratio. Recent insider activity was mixed: the CEO gifted 80,000 shares while the CFO sold 55,663 shares at a weighted average of $16.96 under a pre-set plan.