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.
Firefly Aerospace reported fourth-quarter results that exceeded analyst expectations, and the space and defense technology company provided an optimistic outlook for 2026.
The company posted a fourth-quarter loss of -$0.26 per share, beating the analyst estimate of -$0.32. Revenue reached $57.67 million for the quarter. For the full year 2025, Firefly generated record revenue of $159.9 million, representing a 163% increase YoY. The company guided 2026 full-year revenue between $420 million and $450 million, with a midpoint of $435 million.
"2025 was a transformative year in Firefly’s history, as we more than doubled our annual revenue while executing across multiple launch, spacecraft, and ground programs and strengthening our portfolio of space exploration and national security space capabilities," said Jason Kim, CEO of Firefly Aerospace.
The company achieved several milestones in 2025, including landing on the Moon with Blue Ghost Mission 1, becoming the first commercial company to do so successfully. The mission completed 14 days of lunar surface operations, marking the longest commercial operations on the Moon to date. Firefly also completed a historic IPO and acquired SciTec, expanding its capabilities in artificial intelligence and data center-powered space services.
In the fourth quarter, Firefly won an eight-figure contract from a confidential U.S. customer for SciTec to deliver time-dominant space control software. The company also completed critical design review for the Elytra spacecraft and structural qualification testing on Blue Ghost Mission 2.
