Planet's year-two backlog fell 38% in one quarter

Backlog by when Planet expects to recognize it, $M. The slice due in 12-24 months dropped from $263M to $163M between April and July 2026.

Buckets = backlog x the company's 'approximately' percentages (Q1 FY27 40%/69%, Q2 FY27 50%/70%). Given rounding, the 12-24 month slice fell 33% to 43%. Dollar split is a Shawarma Capital calculation.
Chart: Shawarma CapitalSource: Planet Labs PBC 10-Q/10-K: backlog totals and the stated percentages expected within 12 and 24 months (e.g. Q2 FY27 10-Q: 'approximately 50% within the next 12 months, approximately 70% within the next 24 months'). Dollar buckets are Shawarma Capital calculations.Get the data Download image