Planet Labs Pbc - PL STOCK NEWS

Planet Labs PBC (NYSE:PL) has completed a successful pilot program with Organic Valley, utilizing satellite technology to measure pasture health on dairy farms. Initially implemented on 20 farms, the program is expanding to 100 farms this year, aiming to improve pasture utilization by at least 20%. The collaboration emphasizes sustainability, allowing farmers to access detailed vegetation data and enhance their farming practices. Planet's services aim to streamline farming operations, providing efficient monitoring that saves time and improves decision-making for sustainable agriculture.

Planet Labs PBC, a leader in daily satellite data, has expanded its contract with the German Federal Agency for Cartography and Geodesy (BKG) to provide high-resolution satellite data for crisis management, environmental conservation, and agricultural monitoring.

Following a successful trial since November 2021, BKG employees from over 400 federal institutions will gain direct access to Planet's data. This partnership aims to enhance public safety and promote the use of satellite imagery in government operations in Germany.

Planet Labs (NYSE: PL) and Bayer have announced an expansion of their strategic partnership aimed at enhancing sustainable agriculture. The collaboration will see Planet providing its SkySat data and the Fusion product to Bayer, optimizing seed production and supply chain efficiency. This initiative harnesses satellite data to improve crop performance insights. The goal is to leverage data-driven solutions to revolutionize digital agriculture, increase productivity, and promote sustainability.

Planet Labs PBC reported record first quarter revenue of $40.1 million, reflecting a 26% year-over-year growth. The company announced an industry-recognized EOCL contract with the U.S. National Reconnaissance Office, enhancing its position in government sectors. With 826 customers and a strong cash position of $484 million, Planet anticipates revenue growth to more than double year-over-year for FY’23. Additionally, Q2 revenue is projected to range from $41 million to $43 million, signaling continued momentum in its unique data subscription business.

Planet Labs PBC (NYSE: PL) has been awarded a contract by the National Reconnaissance Office (NRO) for the Electro-Optical Commercial Layer (EOCL), enhancing government access to commercial satellite data.

This five-year contract, with potential extensions up to ten years, allows the NRO and its partners access to high and medium resolution daily imagery from Planet's satellite fleet.

The EOCL will support critical national security operations and decision-making across various government agencies.

Planet Labs (NYSE: PL) has announced a partnership with Leaf, a data infrastructure company, enabling developers to utilize PlanetScope data for agricultural solutions. This collaboration allows access to daily satellite imagery, aiding in farm optimization, sustainability tracking, and analyzing crop data. Planet operates the largest fleet of Earth observation satellites, capturing over 30 TB of data daily. Leaf's API will integrate this imagery, offering features dating back to 2015, enhancing agricultural insights for users and promoting a digital transformation in agriculture.

Planet Labs PBC (NYSE:PL) plans to release its fiscal Q1 2023 financial results on June 14, 2022, after market close, covering the period ended April 31, 2022. A conference call discussing these results and the future outlook will occur at 5:00 p.m. ET the same day. Interested parties can access the call via the company's Investor Relations page. Planet Labs specializes in satellite imagery and operates the largest Earth observation fleet, capturing 30 terabytes of data daily.

Planet Labs PBC (NYSE: PL) announced that Jim Thomason, VP of Imagery Products, will present at the 17th Annual Needham Technology & Media Conference on May 16, 2022, at 3:00 PM ET. The virtual discussion will be moderated by Ryan Koontz from Needham & Company, LLC. Interested parties can access the live webcast here. A replay will be available for one year on Planet’s investor relations page here. Planet offers daily satellite imagery and geospatial solutions to over 700 clients.

Planet Labs PBC (NYSE: PL) has announced its next-generation satellite constellation, Pelican, designed for very-high-resolution imaging and rapid revisit capabilities. Set to launch in early next year, pending FCC approval, the constellation will include up to 32 satellites, enhancing the capabilities of its existing fleet. Pelican aims to provide images with a resolution of 30 cm and up to 30 imaging opportunities daily in mid-latitudes, catering to rising demand for real-time data, particularly for tracking dynamic global events.