Satellite imaging play Planet Labs pops more than 50% after posting earnings beat, record revenue

Core Insights - Planet Labs reported its first-ever quarter of positive free cash flow at $8.0 million, exceeding quarterly estimates on both revenue and earnings [1] - The company's shares surged over 50$66.3 million, surpassing analyst expectations [2][3] - Planet Labs anticipates second-quarter sales between $65 million and$67 million, slightly above analyst projections [2] Financial Performance - The company achieved breakeven adjusted earnings for the first quarter, while analysts had predicted a loss of 4 cents per share [2] - Year-to-date, shares of Planet Labs have increased by over 50%, with an impressive 82% rise in the current quarter alone [3] Strategic Direction - CEO Will Marshall highlighted the strong demand signals and the company's focus on delivering global insights through AI-enabled solutions and expanding satellite services [3] - Planet Labs operates more than 200 satellites and has secured a $230 million contract for the rollout of next-generation Pelican satellites, marking a significant step into the satellite services business [4]