Planet Labs shares have dropped 13.7% over the last six months to $22.32, underperforming the S&P 500's 7.9% gain. The company's backlog reached $906.1 million in the latest quarter, with year-on-year growth averaging 143% over the past two years, signaling strong future revenue. Earnings per share improved by 50.5% annually over the last four years, though the company remains unprofitable. Free cash flow margin expanded by 59.8 percentage points over five years to 13.9% on a trailing 12-month basis. The stock trades at 368.3 times forward EV-to-EBITDA.
Planet Labs PBCBacklog surged to $906.1M and earnings improved, but stock fell 13.7% and trades at high valuation.