Planet Labs PBC Leases Disclosure
Operating lease costs were $9.7 million, $9.6 million, and $8.4 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively. Variable lease expenses, short-term lease expenses and sublease income were immaterial for the fiscal years ended January 31, 2026, 2025, and 2024.
Operating cash flows from operating leases were $10.7 million, $10.2 million, and $7.4 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.
Right of use assets obtained in exchange for operating lease liabilities were $2.9 million, $5.4 million, and $8.5 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.
Maturities of operating lease liabilities as of January 31, 2026 were as follows:
(in thousands) |
|
|
|
|
Fiscal Year 2027 |
|
$ |
8,139 |
|
2028 |
|
|
3,991 |
|
2029 |
|
|
2,821 |
|
2030 |
|
|
1,585 |
|
2031 |
|
|
698 |
|
Thereafter |
|
|
24 |
|
Total lease payments |
|
$ |
17,258 |
|
Less: Imputed interest |
|
|
(1,662 |
) |
Total lease liabilities |
|
$ |
15,596 |
|
Weighted average remaining lease term (years) |
|
|
2.9 |
|
Weighted average discount rate |
|
|
7.6 |
% |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 23, 2026 | Showing above |
| 2025 | Mar 26, 2025 | |
| 2024 | Mar 29, 2024 | |
| 2023 | Mar 30, 2023 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.