The “All-Seeing Eye” Is Planet Labs
The first of the three reports in the Kiyosaki Letter’s space campaign is called “The All-Seeing Eye,” and it describes a company with 200-plus satellites photographing every inch of the earth every day, whose committed revenue backlog grew 245 percent in a single year, and whose customers read like a list of the world’s intelligence agencies. StockGumshoe’s research identifies that company as Planet Labs, ticker PL.
Planet Labs operates a constellation of small satellites that image the entire land surface of the planet daily. It does not build rockets or sell satellites; it sells a subscription to a continuously updating picture of the earth. The customer list is real and serious: the U.S. National Reconnaissance Office, the National Geospatial-Intelligence Agency, the German military, and the Swedish Armed Forces, among others.
The Business Is Real, the Profit Is Not Yet
Planet Labs is a genuine business with recurring revenue. It has grown the top line 20 to 25 percent a year for several years, and analysts model roughly 30 percent growth out to 2029. That growth is the strongest part of the pitch.
The catch is that the revenue has not yet become profit. Margins have been getting worse, not better, which is unusual for a business that can sell the same imagery to many customers at near-zero marginal cost. Analysts see the company running near break-even for the next several years. At about 18 times forward revenue, you are paying a premium for a growth story that has not yet shown it can convert growth into earnings.
The stock’s 52-week range tells the sentiment story plainly: roughly $6.10 to $51.76. It rode the space sector’s wave to the highs and came back down to around $24 after the SpaceX IPO reset expectations for the whole group. That is a big gap between the fundamentals and what hype did to the price.
The Verdict on the Pick
Planet Labs is the most interesting of the three reports in the campaign, and it is the only one where space is actually the whole story. The “245 percent backlog growth” figure is directionally consistent with a company growing 20 to 30 percent a year, but it is presented without the margin context that would show why growth has not become profit.
We put Planet Labs in the broader context of the campaign in our Launch Cheat Code teardown and alongside the other space names in the INI XPanse space-stocks explainer. The honest take is to wait for either a clearer path to positive cash flow or a more reasonable valuation before treating this as a growth story with a profit story attached.
Ready to see the full campaign? Click here to access the space-economy reports.
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