On June 8, Planet Labs rose 5.25% in pre-market trading, trading at approximately $33.99 per share, with trading volume of $6.27 million. The rebound follows a sharp single-day decline of approximately 26% to the $32 level triggered by profit-taking and dilution concerns.

On the news front, the pre-market recovery is supported by the company's previously reported Q1 fiscal results that broadly exceeded expectations. Planet Labs posted Q1 revenue of $94.2 million, representing 42% year-over-year growth and surpassing the analyst consensus estimate of $90 million. Adjusted EPS loss of $0.03 also beat the expected $0.04 loss. The company raised its full-year revenue guidance to $425 million to $441 million, while Q2 guidance of $102 million to $107 million similarly topped expectations. Additionally, the company secured an eight-figure contract renewal with the National Geospatial-Intelligence Agency for maritime surveillance services. The prior selloff was driven by valuation concerns at a 31x price-to-sales ratio and a $1.5 billion ATM stock offering plan, but current pre-market action suggests the market's confidence in the company's fundamentals and Google space data center collaboration prospects remains intact.

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