Planet Labs PBC Segments Disclosure
The Company has determined that it operates in one operating and reportable segment as the CODM reviews financial information on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The CODM uses consolidated net loss, as reported on our Consolidated Statements of Operations, in evaluating performance of the Company’s single segment, monitoring budget versus actual results, and determining how to allocate resources of the Company as a whole.
Financial information for the Company’s reportable segment was as follows:
|
|
Year Ended January 31, |
|
|||||||||
(in thousands) |
|
2026 |
|
|
2025 |
|
|
2024 |
|
|||
Revenue |
|
$ |
307,727 |
|
|
$ |
244,352 |
|
|
$ |
220,696 |
|
Less: Significant and other segment expenses |
|
|
|
|
|
|
|
|
|
|||
Cost of revenue (1) |
|
|
94,138 |
|
|
|
63,696 |
|
|
|
62,435 |
|
Research and development (1) |
|
|
80,251 |
|
|
|
73,883 |
|
|
|
83,377 |
|
Sales and marketing (1) |
|
|
63,591 |
|
|
|
63,852 |
|
|
|
73,167 |
|
General and administrative (1) |
|
|
54,252 |
|
|
|
53,548 |
|
|
|
57,001 |
|
Depreciation and amortization |
|
|
41,825 |
|
|
|
45,637 |
|
|
|
47,639 |
|
Stock-based compensation |
|
|
54,995 |
|
|
|
48,485 |
|
|
|
57,132 |
|
Restructuring costs (2) |
|
|
20 |
|
|
|
10,574 |
|
|
|
7,376 |
|
Employee transaction bonuses in connection with the |
|
|
— |
|
|
|
— |
|
|
|
2,317 |
|
Interest expense |
|
|
3,436 |
|
|
|
832 |
|
|
|
— |
|
Employer payroll taxes related to earnout share vesting |
|
|
2,539 |
|
|
|
— |
|
|
|
— |
|
Certain litigation expenses (3) |
|
|
11,189 |
|
|
|
799 |
|
|
|
— |
|
Other segment items (4) |
|
|
148,351 |
|
|
|
6,242 |
|
|
|
(29,239 |
) |
Consolidated net loss |
|
|
(246,860 |
) |
|
|
(123,196 |
) |
|
|
(140,509 |
) |
(1) Exclusive of the following items shown separately; Depreciation and amortization, stock-based compensation, restructuring costs, employee transaction bonuses in connection with the Sinergise business combination, employer payroll taxes related to earnout share vesting, and certain litigation expenses.
(2) Exclusive of stock-based compensation shown separately. Refer to Note 7.
(3) Expenses relating to the Delaware class action lawsuit and acquisition related earnout contingent consideration dispute. Refer to Note 10.
(4) Includes interest income, change in fair value of warrant liabilities, other income (expense), net and provision for income taxes. Refer to the consolidated statements of operations.
Capital expenditures, which consists of purchases of property and equipment and capitalized internal-use software costs, for the fiscal years ended January 31, 2026, 2025, and 2024 was $81.5 million, $49.6 million, and $42.4 million, respectively.
The Company’s long-lived assets by geographic region are as follows:
|
|
January 31, |
|
|||||
(in thousands) |
|
2026 |
|
|
2025 |
|
||
United States |
|
$ |
143,011 |
|
|
$ |
116,042 |
|
Rest of world |
|
|
7,562 |
|
|
|
5,707 |
|
Total property and equipment, net |
|
$ |
150,573 |
|
|
$ |
121,749 |
|
The Company concluded that satellites in service continue to be owned by the U.S. entity and accordingly are classified as U.S. assets in the table above. No single country other than the U.S. accounted for more than 10% of total property and equipment, net, as of January 31, 2026 and 2025.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 23, 2026 | Showing above |
| 2025 | Mar 26, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.