What Is Driving The Fall In Planet Labs Stock? Trefis Team Thu, November 12, 2026 at 3:32 PM EST 3 min read PL -3.07% ^GSPC -0.35% SPCX +0.38% BKSY -3.57% SATL -7.37% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Planet Labs PBC (PL) stock fell 65.5% between May 15 and November 11, 2026, while the S&P 500 returned 3.4% over the same dates. The steepest one-day drop of that stretch came just after the satellite imagery company reported its fiscal first quarter on June 4, 2026. What did investors hear in that June report?
What Planet Labs Told Investors In June
Planet told investors it expected fiscal 2027 revenue of $425 million to $441 million, and it set up a new $1.5 billion program to sell shares. Revenue for the quarter had come in ahead of the company's own guidance, yet the shares fell 26.0% on June 5 on the outlook, which one analysis said implied decelerating growth.
The selling did not stop there. SpaceX went public in June, and one market commentary that month said investors rotated away from Planet Labs in favor of it. Other satellite imagery stocks fell too: BlackSky Technology lost 38% and Satellogic 61% over the same six months, so the fall was not Planet's alone.
What Investors Now Pay For Planet Labs' Sales
Investors now pay less than half as much for each dollar of Planet's sales as they did at the end of June. The stock traded at 31.5 times sales on June 30, 2026, and at 13.6 times on November 11. Both multiples are measured on the same four quarters ended July 31, 2026. That is still well above the S&P 500, at 3.2 times sales.
Underneath that price, the business still loses money. Over those twelve months, Planet's operating loss came to 27.2% of its sales. That represents about the same share as a year earlier, though the loss narrowed in fiscal Q2 2027. The company has also kept issuing stock. Diluted shares reached 360 million, up from 304 million a year earlier, meaning each share owns a smaller slice of the business.
Planet Labs' Sales Are Still Growing Fast
Planet reported revenue of $116 million for fiscal Q2 2027, the quarter ended July 31, 2026, up 58.1% from a year earlier. On September 3, 2026, months into the fall, management raised the low end of its full-year range to $430 million to $441 million.
Management guided fiscal Q3 revenue to $101 million to $105 million, below the second quarter, partly because the handover of its first Pelican satellite for the Swedish Armed Forces, under a satellite services contract, landed in Q2 rather than Q3. Management said that shift moved revenue between the two quarters without changing the full-year outlook.
Planet's revenue against that full-year range is the number to watch when the company is expected to report its fiscal third quarter in December 2026
Does This Mean You Should Act On PL?
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