How Much Downside Is Left In Planet Labs Stock?
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Planet Labs PBC (PL) stock has lost 61.2% of its value over the six months to October 26, 2026. The S&P 500 gained 7.6% over the same period. Anyone still holding the shares has already endured a steep decline, and a market-wide sell-off would come on top of it. So if the wider market turns as well, how far has Planet Labs stock fallen in past shocks?
How Far Has Planet Labs Fallen In Past Shocks?
Planet Labs has traded through five market shocks. During those periods, the stock fell 31.2% on average. This drop was more than twice the 13.4% fall recorded by the S&P 500 over the same dates. The deepest of these declines occurred in the US tariff shock of early 2025, when Planet Labs stock lost 47.0% and the S&P 500 fell 19.0%.
In four of those shocks, the stock fell below its starting level, and each time it climbed back to its pre-decline high. These recoveries took a median of 8.5 months from the low. Two of those recoveries took more than a year, requiring 19.0 months after the 2023 regional banking crisis and 12.8 months after the five percent yield shock of July to December 2023.
Planet Labs Is Growing Faster But Still Losing Money
Planet Labs sold $116 million in fiscal Q2 2027, the quarter that ended July 31, 2026. This figure was up 58.1% from a year earlier. Growth has picked up every quarter since fiscal Q2 2026, when it stood at 20.1%. On October 1, the company also said it had launched 20 more satellites. These included Tanager-2, its latest hyperspectral satellite, alongside a batch of SuperDoves.
The business still operates at a loss, though a smaller one. Operating loss equaled 11.6% of revenue in fiscal Q2 2027, compared with 24.5% in fiscal Q2 2026. Debt climbed to $499 million at the end of July 2026, up from $17.5 million a year earlier. At the same date, Planet Labs held $865 million in cash and short-term investments, an amount greater than its debt.
Management Expects Lower Revenue In Fiscal Q3 2027
In its September 3, 2026 release, management forecast revenue of $101 million to $105 million for fiscal Q3 2027. This range is less than what Planet Labs sold in fiscal Q2 2027. Management also raised its capital spending plan for fiscal 2027 to $108 million at the midpoint, up from $87.5 million in its June 4 forecast.
Planet Labs is expected to report its fiscal Q3 2027 results in December 2026. Revenue for that quarter is the figure to watch.
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