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Planet Labs PBC vs Ondas: PL and ONDS compared
Planet Labs PBC is the larger company: $116M of revenue in its latest quarter (Q2 FY27) against $83.8M for Ondas (Q2 2026). Ondas is growing faster (13× against +58% a year earlier). Planet Labs PBC is more profitable, with an operating margin of -11.6% against -194.5%.
Where the money goes: PL and ONDS
Planet Labs PBC (PL) · Q2 FY27
Planet Labs PBC, Q2 FY27: revenue $116M (+58% year over year), operating margin -11.6%, net loss $9.4M, operating cash flow $52.9M. The chart follows the revenue to costs, profit and cash.
Ondas (ONDS) · Q2 2026
Ondas, Q2 2026: revenue $83.8M (13× year over year), operating margin -194.5%, net loss $89.7M, operating cash flow −$86.1M. The chart follows the revenue to costs, profit and cash.
| Planet Labs PBC (PL) | Ondas (ONDS) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q2 2026 |
| Revenue | $116M | $83.8M |
| Revenue growth, Y/Y | +58% | 13× |
| Operating margin | -11.6% | -194.5% |
| Net earnings | −$9.4M | −$89.7M |
| Net margin | -8.1% | -107.1% |
| Operating cash flow | $52.9M | −$86.1M |
| Free cash flow | $25.6M | — |
Where the revenue comes from
Ondas
- Product Revenue: $43.4M (52%)
- Service Revenue: $23.6M (28%)
- Development Revenue: $16.7M (20%)
Questions
Which is bigger, Planet Labs PBC or Ondas?
Planet Labs PBC is the larger company: $116M of revenue in its latest quarter (Q2 FY27) against $83.8M for Ondas (Q2 2026).
Is Planet Labs PBC or Ondas growing faster?
Ondas is growing faster (13× against +58% a year earlier).
Which is more profitable, Planet Labs PBC or Ondas?
Planet Labs PBC is more profitable, with an operating margin of -11.6% against -194.5%.
More: Planet Labs PBC earnings · how Planet Labs PBC makes money · Ondas earnings · how Ondas makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 3, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.