Space Stocks Jump Due to Planet Labs and Firefly Aerospace Earnings Boost

Space stocks jumped in morning trading. Planet Labs rose 31%; BlackSky Technology rose 11%; Firefly Aerospace and Intuitive Machines rose 7%; Voyager Technologies and Sidus Space rose 3%; AST SpaceMobile and Redwire rose 1%.

Planet Labs reported fourth quarter results that exceeded analyst expectations and issued fiscal 2027 guidance well above consensus.

The satellite imaging company posted adjusted EPS of $0.00 for the fourth quarter ended January 31, 2026, beating the analyst estimate of -$0.05. Revenue surged 41% YoY to $86.8 million, topping the $77.81 million consensus and marking a record for the company. For the full fiscal year 2026, revenue climbed 26% YoY to a record $307.7 million.

Planet issued fiscal 2027 revenue guidance of $415 million to $440 million, with a midpoint of $427.5 million significantly above the analyst consensus of $379 million. For the first quarter of fiscal 2027, the company expects revenue between $87 million and $91 million, compared to the consensus of $84.6 million.

"Planet had a transformational year driven by strong momentum in satellite services, including most recently with Sweden, as well as launching 40 satellites," said Will Marshall, CEO and Co-Founder. "We delivered record revenue, with Q4 growing 41% year-on-year, and ended the year with $900 million of backlog, representing 79% growth year-on-year."

The company achieved its first fiscal year of adjusted EBITDA and free cash flow profitability, generating $15.5 million in adjusted EBITDA and $52.9 million in free cash flow for fiscal 2026. Planet ended the year with $640.1 million in cash, cash equivalents, and short-term investments, up 188% YoY.

Backlog increased 79% YoY to over $900 million, while remaining performance obligations grew 106% YoY to $852 million. The company secured several significant contracts during the quarter, including a multi-year, low nine-figure agreement with Sweden’s Armed Forces.