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Side-by-side financial comparison of Planet Labs PBC (PL) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $81.3M, roughly 1.1× Planet Labs PBC). Smart Sand, Inc. runs the higher net margin — 1.4% vs -72.8%, a 74.2% gap on every dollar of revenue. On growth, Planet Labs PBC posted the faster year-over-year revenue change (32.6% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $1.9M). Over the past eight quarters, Planet Labs PBC's revenue compounded faster (17.5% CAGR vs 1.8%).
Planet Labs PBC, known as "Planet.", is a publicly traded American Earth imaging company based in San Francisco, California. Their goal is to image the entirety of the Earth daily to monitor changes and pinpoint trends.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
PL vs SND — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.3M | $86.0M |
| Net Profit | $-59.2M | $1.2M |
| Gross Margin | 57.3% | 13.0% |
| Operating Margin | -22.6% | -3.1% |
| Net Margin | -72.8% | 1.4% |
| Revenue YoY | 32.6% | -5.8% |
| Net Profit YoY | -194.7% | -68.5% |
| EPS (diluted) | $-0.19 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $81.3M | $86.0M | ||
| Q3 25 | $73.4M | $92.8M | ||
| Q2 25 | $66.3M | $85.8M | ||
| Q1 25 | $61.6M | $65.6M | ||
| Q4 24 | $61.3M | $91.4M | ||
| Q3 24 | $61.1M | $63.2M | ||
| Q2 24 | $60.4M | $73.8M | ||
| Q1 24 | $58.9M | $83.1M |
| Q4 25 | $-59.2M | $1.2M | ||
| Q3 25 | $-22.6M | $3.0M | ||
| Q2 25 | $-12.6M | $21.4M | ||
| Q1 25 | $-35.2M | $-24.2M | ||
| Q4 24 | $-20.1M | $3.7M | ||
| Q3 24 | $-38.7M | $-98.0K | ||
| Q2 24 | $-29.3M | $-430.0K | ||
| Q1 24 | $-30.1M | $-216.0K |
| Q4 25 | 57.3% | 13.0% | ||
| Q3 25 | 57.6% | 16.1% | ||
| Q2 25 | 55.2% | 10.4% | ||
| Q1 25 | 62.1% | 4.2% | ||
| Q4 24 | 61.2% | 14.7% | ||
| Q3 24 | 52.9% | 10.3% | ||
| Q2 24 | 52.4% | 17.7% | ||
| Q1 24 | 55.2% | 14.2% |
| Q4 25 | -22.6% | -3.1% | ||
| Q3 25 | -24.5% | 5.8% | ||
| Q2 25 | -34.4% | -0.1% | ||
| Q1 25 | -31.5% | -10.8% | ||
| Q4 24 | -36.9% | 3.9% | ||
| Q3 24 | -64.8% | -7.8% | ||
| Q2 24 | -57.2% | 4.8% | ||
| Q1 24 | -57.6% | 0.9% |
| Q4 25 | -72.8% | 1.4% | ||
| Q3 25 | -30.8% | 3.2% | ||
| Q2 25 | -19.1% | 24.9% | ||
| Q1 25 | -57.1% | -37.0% | ||
| Q4 24 | -32.8% | 4.1% | ||
| Q3 24 | -63.3% | -0.2% | ||
| Q2 24 | -48.5% | -0.6% | ||
| Q1 24 | -51.1% | -0.3% |
| Q4 25 | $-0.19 | $0.03 | ||
| Q3 25 | $-0.07 | $0.08 | ||
| Q2 25 | $-0.04 | $0.54 | ||
| Q1 25 | $-0.12 | $-0.62 | ||
| Q4 24 | $-0.07 | $0.10 | ||
| Q3 24 | $-0.13 | $0.00 | ||
| Q2 24 | $-0.10 | $-0.01 | ||
| Q1 24 | $-0.10 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $443.3M | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $349.6M | $239.7M |
| Total Assets | $1.1B | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $443.3M | $22.6M | ||
| Q3 25 | $181.1M | $5.1M | ||
| Q2 25 | $133.5M | $4.3M | ||
| Q1 25 | $118.0M | $5.1M | ||
| Q4 24 | $139.0M | $1.6M | ||
| Q3 24 | $148.3M | $7.2M | ||
| Q2 24 | $107.4M | $6.3M | ||
| Q1 24 | $83.9M | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $349.6M | $239.7M | ||
| Q3 25 | $435.7M | $239.9M | ||
| Q2 25 | $444.8M | $240.5M | ||
| Q1 25 | $441.3M | $219.9M | ||
| Q4 24 | $464.6M | $243.8M | ||
| Q3 24 | $473.2M | $243.6M | ||
| Q2 24 | $500.3M | $242.9M | ||
| Q1 24 | $518.0M | $242.5M |
| Q4 25 | $1.1B | $340.0M | ||
| Q3 25 | $696.4M | $343.1M | ||
| Q2 25 | $658.4M | $345.8M | ||
| Q1 25 | $633.8M | $326.9M | ||
| Q4 24 | $630.8M | $341.5M | ||
| Q3 24 | $658.4M | $335.8M | ||
| Q2 24 | $674.6M | $341.8M | ||
| Q1 24 | $702.0M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.6M | $22.4M |
| Free Cash FlowOCF − Capex | $1.9M | $20.4M |
| FCF MarginFCF / Revenue | 2.3% | 23.7% |
| Capex IntensityCapex / Revenue | 32.9% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $40.7M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $22.4M | ||
| Q3 25 | $67.8M | $18.2M | ||
| Q2 25 | $17.3M | $-5.1M | ||
| Q1 25 | $-6.3M | $8.7M | ||
| Q4 24 | $4.1M | $1.0M | ||
| Q3 24 | $-7.9M | $5.8M | ||
| Q2 24 | $-4.3M | $14.9M | ||
| Q1 24 | $-6.8M | $-3.9M |
| Q4 25 | $1.9M | $20.4M | ||
| Q3 25 | $47.5M | $14.8M | ||
| Q2 25 | $9.2M | $-7.8M | ||
| Q1 25 | $-17.9M | $5.2M | ||
| Q4 24 | $-3.6M | $-840.0K | ||
| Q3 24 | $-23.0M | $3.7M | ||
| Q2 24 | $-14.2M | $13.5M | ||
| Q1 24 | $-15.7M | $-5.5M |
| Q4 25 | 2.3% | 23.7% | ||
| Q3 25 | 64.7% | 15.9% | ||
| Q2 25 | 13.9% | -9.1% | ||
| Q1 25 | -29.1% | 7.9% | ||
| Q4 24 | -5.8% | -0.9% | ||
| Q3 24 | -37.6% | 5.8% | ||
| Q2 24 | -23.6% | 18.3% | ||
| Q1 24 | -26.7% | -6.6% |
| Q4 25 | 32.9% | 2.3% | ||
| Q3 25 | 27.6% | 3.6% | ||
| Q2 25 | 12.3% | 3.1% | ||
| Q1 25 | 18.9% | 5.4% | ||
| Q4 24 | 12.5% | 2.1% | ||
| Q3 24 | 24.8% | 3.4% | ||
| Q2 24 | 16.4% | 1.8% | ||
| Q1 24 | 15.1% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
