Planet Labs PBC is trading 16.7% down at $36.25 after the company announced plans for a potential $1.5 billion at-the-market stock offering, raising concerns about significant shareholder dilution. The decline overshadows a strong earnings report from the previous day.
- On June 5, the company filed an agreement to sell up to $1.5 billion of its Class A common stock from time to time.
- The announcement followed its fiscal Q1 2027 earnings report on June 4, where it posted record revenue of $94.2 million (a 42% year-over-year increase) and raised its full-year guidance.