### Planet Labs Sees 50% Surge After Strong Quarterly Results

Satellite imaging company Planet Labs experienced a significant boost on Thursday, with its shares soaring over 50% following a robust first-quarter earnings report. The company reported breaking even on adjusted earnings per share, alongside a notable revenue of $66.3 million. Analysts surveyed by FactSet had anticipated a loss of 4 cents per share on $62.3 million in revenue.

A major highlight of the quarter was Planet Labs achieving its first-ever positive free cash flow, amounting to $8.0 million. This milestone, coupled with exceeding market expectations, helped propel the stock to new heights. The company revealed it anticipates second-quarter revenues to be between $65 million and $67 million, slightly above the $65.2 million forecast by analysts.

CEO Will Marshall expressed enthusiasm over the company's performance, citing it as a validation of their strategic direction and execution. "We had an excellent first quarter, exceeding our expectations," he stated in a press release. Marshall also indicated that the company is focusing on delivering global insights through AI-enabled solutions and expanding its satellite services.

Year to date, Planet Labs shares have climbed over 50%, with an impressive 82% increase in the current quarter alone. By midday trading on Thursday, the stock had surged roughly 54%. Earlier this year, Planet Labs announced a landmark $230 million contract to advance the deployment of its next-generation Pelican satellites, marking the company's largest deal to date and a significant step in its satellite services business.