Planet grew revenue by nearly 60% year-over-year in the second quarter of 2026 and narrowed its net loss as the satellite imagery company sees growing momentum with sovereign deals for governments around the world.
Planet reported Q2 revenue on Sept. 3 of $116 million, up 58% year-over-year. Net loss of $9.4 million narrowed from $22.6 million in the same quarter last year.
Defense and intelligence drove the revenue increase, including Planet’s satellite services business, in which the company provides dedicated satellites to customers. For example, during the quarter, Planet handed over the first sovereign EO satellite for the Swedish Armed Forces, just months after signing the contract.
CFO Ashley Johnson told investors that during the quarter, defense and intelligence revenue grew more than 90% year-on-year, including satellite services revenue. Commercial revenue grew more than 15% year-on-year and civil government revenue grew more than 5%.
Johnson also said that Europe and the Middle East (EMEA) drove revenue growth with revenue in the region growing more than 130%, followed by 25% growth in North America and more than 15% growth in Asia Pacific.
CEO Will Marshall told investors that Planet’s satellite services pipeline has more than $4 billion of identified opportunities, 25% of which is near-term.
“We are increasingly finding that our customers and prospects want both AI-enabled solutions and satellite services,” Marshall told investors. “Governments are articulating an urgent imperative to secure sovereign access to space, understand threats in and around their region, modernize their defense capabilities, prepare their infrastructure for natural disasters and other catastrophic events and maintain their strategic edge.”
As part of Planet’s growth in Europe, the company is establishing a satellite manufacturing facility in Berlin. Planet also signed a launch contract with German smallsat launcher in development Isar Aerospace in July.
Marshall said the Berlin facility build-out is progressing at pace. Planet expects to fit-out the cleanroom in September and begin building satellites in the facility this year.
“There has been considerable interest from the German and European governments in this new facility, and we believe it positions us well to serve critical needs of customers and prospects in the region,” Marshall added.
He also shared an update that Planet shipped its second Tanager hyperspectral satellite ahead of launch this week, along with 18 SuperDove satellites. These satellites are planned to launch on the SpaceX Transporter-18 mission this fall.
