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Side-by-side financial comparison of Planet Labs PBC (PL) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $81.3M, roughly 1.2× Planet Labs PBC). Latham Group, Inc. runs the higher net margin — -7.0% vs -72.8%, a 65.8% gap on every dollar of revenue. On growth, Planet Labs PBC posted the faster year-over-year revenue change (32.6% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $1.9M). Over the past eight quarters, Planet Labs PBC's revenue compounded faster (17.5% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
PL vs SWIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.3M | $100.0M |
| Net Profit | $-59.2M | $-7.0M |
| Gross Margin | 57.3% | 28.0% |
| Operating Margin | -22.6% | -10.7% |
| Net Margin | -72.8% | -7.0% |
| Revenue YoY | 32.6% | 14.5% |
| Net Profit YoY | -194.7% | 76.0% |
| EPS (diluted) | $-0.19 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $73.4M | $161.9M | ||
| Q2 25 | $66.3M | $172.6M | ||
| Q1 25 | $61.6M | $111.4M | ||
| Q4 24 | $61.3M | $87.3M | ||
| Q3 24 | $61.1M | $150.5M | ||
| Q2 24 | $60.4M | $160.1M | ||
| Q1 24 | $58.9M | $110.6M |
| Q4 25 | $-59.2M | $-7.0M | ||
| Q3 25 | $-22.6M | $8.1M | ||
| Q2 25 | $-12.6M | $16.0M | ||
| Q1 25 | $-35.2M | $-6.0M | ||
| Q4 24 | $-20.1M | $-29.2M | ||
| Q3 24 | $-38.7M | $5.9M | ||
| Q2 24 | $-29.3M | $13.3M | ||
| Q1 24 | $-30.1M | $-7.9M |
| Q4 25 | 57.3% | 28.0% | ||
| Q3 25 | 57.6% | 35.4% | ||
| Q2 25 | 55.2% | 37.1% | ||
| Q1 25 | 62.1% | 29.5% | ||
| Q4 24 | 61.2% | 24.6% | ||
| Q3 24 | 52.9% | 32.4% | ||
| Q2 24 | 52.4% | 33.1% | ||
| Q1 24 | 55.2% | 27.7% |
| Q4 25 | -22.6% | -10.7% | ||
| Q3 25 | -24.5% | 13.3% | ||
| Q2 25 | -34.4% | 14.3% | ||
| Q1 25 | -31.5% | -4.4% | ||
| Q4 24 | -36.9% | -14.9% | ||
| Q3 24 | -64.8% | 8.9% | ||
| Q2 24 | -57.2% | 12.5% | ||
| Q1 24 | -57.6% | -1.9% |
| Q4 25 | -72.8% | -7.0% | ||
| Q3 25 | -30.8% | 5.0% | ||
| Q2 25 | -19.1% | 9.3% | ||
| Q1 25 | -57.1% | -5.4% | ||
| Q4 24 | -32.8% | -33.4% | ||
| Q3 24 | -63.3% | 3.9% | ||
| Q2 24 | -48.5% | 8.3% | ||
| Q1 24 | -51.1% | -7.1% |
| Q4 25 | $-0.19 | $-0.06 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $-0.04 | $0.13 | ||
| Q1 25 | $-0.12 | $-0.05 | ||
| Q4 24 | $-0.07 | $-0.24 | ||
| Q3 24 | $-0.13 | $0.05 | ||
| Q2 24 | $-0.10 | $0.11 | ||
| Q1 24 | $-0.10 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $349.6M | $405.9M |
| Total Assets | $1.1B | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $443.3M | — | ||
| Q3 25 | $181.1M | — | ||
| Q2 25 | $133.5M | — | ||
| Q1 25 | $118.0M | — | ||
| Q4 24 | $139.0M | — | ||
| Q3 24 | $148.3M | — | ||
| Q2 24 | $107.4M | — | ||
| Q1 24 | $83.9M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $349.6M | $405.9M | ||
| Q3 25 | $435.7M | $408.4M | ||
| Q2 25 | $444.8M | $398.4M | ||
| Q1 25 | $441.3M | $381.1M | ||
| Q4 24 | $464.6M | $387.2M | ||
| Q3 24 | $473.2M | $416.6M | ||
| Q2 24 | $500.3M | $408.1M | ||
| Q1 24 | $518.0M | $391.8M |
| Q4 25 | $1.1B | $823.2M | ||
| Q3 25 | $696.4M | $844.4M | ||
| Q2 25 | $658.4M | $822.1M | ||
| Q1 25 | $633.8M | $824.6M | ||
| Q4 24 | $630.8M | $794.2M | ||
| Q3 24 | $658.4M | $853.4M | ||
| Q2 24 | $674.6M | $830.0M | ||
| Q1 24 | $702.0M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $1.9M | $14.1M |
| FCF MarginFCF / Revenue | 2.3% | 14.1% |
| Capex IntensityCapex / Revenue | 32.9% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $40.7M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $23.3M | ||
| Q3 25 | $67.8M | $51.0M | ||
| Q2 25 | $17.3M | $36.0M | ||
| Q1 25 | $-6.3M | $-46.9M | ||
| Q4 24 | $4.1M | $6.2M | ||
| Q3 24 | $-7.9M | $37.2M | ||
| Q2 24 | $-4.3M | $52.4M | ||
| Q1 24 | $-6.8M | $-34.5M |
| Q4 25 | $1.9M | $14.1M | ||
| Q3 25 | $47.5M | $45.2M | ||
| Q2 25 | $9.2M | $29.1M | ||
| Q1 25 | $-17.9M | $-50.3M | ||
| Q4 24 | $-3.6M | $-98.0K | ||
| Q3 24 | $-23.0M | $33.2M | ||
| Q2 24 | $-14.2M | $47.9M | ||
| Q1 24 | $-15.7M | $-39.9M |
| Q4 25 | 2.3% | 14.1% | ||
| Q3 25 | 64.7% | 27.9% | ||
| Q2 25 | 13.9% | 16.8% | ||
| Q1 25 | -29.1% | -45.2% | ||
| Q4 24 | -5.8% | -0.1% | ||
| Q3 24 | -37.6% | 22.1% | ||
| Q2 24 | -23.6% | 29.9% | ||
| Q1 24 | -26.7% | -36.0% |
| Q4 25 | 32.9% | 9.2% | ||
| Q3 25 | 27.6% | 3.6% | ||
| Q2 25 | 12.3% | 4.0% | ||
| Q1 25 | 18.9% | 3.1% | ||
| Q4 24 | 12.5% | 7.2% | ||
| Q3 24 | 24.8% | 2.7% | ||
| Q2 24 | 16.4% | 2.8% | ||
| Q1 24 | 15.1% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
