Planet Labs reported fiscal second-quarter revenue of $116.1 million, up 58% year over year and above the $104.5 million Wall Street forecast. Non-GAAP earnings were 2 cents per share, compared with expectations for a 2-cent loss, while adjusted EBITDA reached $13.9 million versus the $2.3 million consensus estimate. Defense and intelligence revenue grew more than 90% to approximately $81 million, representing 70% of total revenue compared with 57% a year earlier. The company secured an $8 million National Geospatial-Intelligence Agency agreement, a seven-figure European defense contract and a German government satellite-services tender worth up to 25 million euros over five years. Backlog rose 11% to $815 million and remaining performance obligations increased 9% to approximately $753 million, supporting more than $400 million of potential revenue recognition over the next four quarters. Planet Labs guided third-quarter revenue to $101 million-$105 million, below the $114 million analyst consensus, and expects an EBITDA loss of approximately $3.5 million versus Wall Street's projected $2.5 million profit. Analysts said accelerated revenue recognition, including activity tied to Sweden's inaugural sovereign satellite, contributed to the quarterly beat. The company raised the lower end of its fiscal 2027 revenue outlook to $430 million while maintaining the upper end at $441 million. Shares reached $20.44 in premarket trading before later trading down approximately 1.25% at $18.12.