Planet Labs PBC reported $753M of remaining performance obligations at 31 Jul 2026, up 9% from a year earlier and down 8% from the previous quarter. That is 2.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.46.
Net new backlog added in the latest quarter: -$62.9M.
Over the last twelve months it turned about 50% of its opening backlog into revenue (12-month conversion).
46% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 37.3% of the backlog.
Twelve-month book-to-bill: 1.17, i.e. 1.17 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -35 points — revenue is catching up with orders.
By backlog size it ranks 266th among US filers the cockpit tracks.
Planet Labs PBC backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$753M
$378M
2.0 yrs
$281M
30 Apr 2026
$816M
$336M
2.4 yrs
$231M
31 Jan 2026
$852M
$308M
2.8 yrs
$221M
31 Oct 2025
$672M
$282M
2.4 yrs
$146M
31 Jul 2025
$690M
$262M
2.6 yrs
$148M
30 Apr 2025
$452M
$250M
1.8 yrs
$108M
31 Jan 2025
$413M
$244M
1.7 yrs
$82.3M
31 Oct 2024
$146M
$242M
0.6 yrs
$77.7M
31 Jul 2024
$112M
$236M
0.5 yrs
$76.5M
30 Apr 2024
$125M
$228M
0.5 yrs
$76.9M
31 Jan 2024
$133M
$221M
0.6 yrs
$77.6M
31 Oct 2023
$153M
$215M
0.7 yrs
$75.0M
Questions
What is Planet Labs PBC's backlog?
Planet Labs PBC reported $753M of remaining performance obligations at 31 Jul 2026, up 9% from a year earlier and down 8% from the previous quarter. That is 2.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.46.
How fast does Planet Labs PBC's backlog turn into revenue?
Over the last twelve months Planet Labs PBC recognised revenue equal to about 50% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.