Planet Labs PBC reports news on its Earth-imaging satellite business, including global daily imagery, geospatial data products, and software-based insights for commercial and government customers. Recurring updates cover financial results, enterprise and government contracts, satellite services, and the use of PlanetScope imagery, high-resolution tasking, and professional services in monitoring workflows.
Company developments also include Pelican satellite launches, Tanager spacecraft initiatives, onboard AI and edge-computing capabilities, and capital-structure actions such as the completed redemption and delisting of public warrants while Class A common stock continues to trade under PL.
Microsoft, Planet Labs, and The Nature Conservancy have launched the Global Renewables Watch (GRW), a pioneering atlas to map utility-scale solar and wind installations globally using AI and satellite imagery. Initially focusing on installations in Germany, India, Brazil, and Egypt, GRW aims to provide comprehensive insights into renewable energy capacity and trends. The full global inventory is expected by early 2023, ensuring updated data twice yearly. This initiative coincides with the UN General Assembly and Climate Week NYC, showcasing collaboration in advancing the clean energy transition.
Planet Labs PBC (NYSE: PL) has unveiled details regarding its new hyperspectral satellite constellation, Tanager, developed via a unique public-private partnership with the Carbon Mapper Coalition. The Tanager satellites will deliver hyperspectral data at 30-meter resolution across over 400 spectral bands. This initiative aims to enhance Planet's existing dataset and support applications in various industries, including agriculture and environmental monitoring, by identifying trends and mitigating risks. The first two satellites are set for launch in 2023.
Summary not available.
Planet Labs PBC (NYSE: PL) has secured a multi-year contract with the Taylor Geospatial Institute (TGI) at Saint Louis University, marking its largest direct university engagement. This partnership will grant TGI access to Planet’s extensive satellite data to address global challenges in food security, national security, and geospatial science. The collaboration includes eight universities and over 100,000 students and faculty. This move aligns with recent investments in geospatial capabilities in the St. Louis area, fostering innovation and enabling future leaders in geospatial science.
Planet Labs PBC (NYSE: PL) reported record revenue of $48.5 million for the second quarter, a 59% increase year-over-year, with GAAP gross margin rising to 48% from 35%.
The company raised its full-year revenue guidance to reflect 42% growth at the midpoint. The substantial increase in net dollar retention rate to 125% indicates strong demand for Planet's data solutions, with a customer count climbing by 17% to 855 customers.
Planet Labs PBC (NYSE: PL) announced participation in key investor conferences, including RBC Capital Markets and Piper Sandler on September 14, 2022, and the Morgan Stanley Laguna Conference on September 15, 2022. Additionally, Vice President Mike Safyan will be part of a panel discussing commercial space opportunities at an Aerospace & Defense event in Los Angeles on the same day. Planet is renowned for its daily satellite imagery and geospatial solutions, supporting over 800 global clients.
Planet Labs PBC (NYSE: PL) has been selected as a subcontractor by SES Government Solutions and Telesat Government Solutions to assist in developing real-time connectivity solutions for NASA’s Communication Services Project (CSP). This collaboration aims to leverage low Earth orbit (LEO) satellites for enhanced space communication capabilities, aligning with NASA's future needs. Planet's commitment to accelerate R&D in satellite communication and its strong relationship with NASA positions it for potential growth in the space technology sector.
Planet Labs PBC (NYSE: PL) is collaborating with Global Heritage Fund and University College London to protect Ukrainian cultural heritage impacted by the Russo-Ukrainian war. This initiative maps and quantifies damage to heritage sites, which has seen over 165 sites affected since the conflict began. Utilizing Planet's satellite imagery, the project aims to create a digital inventory for reconstruction and preservation efforts. Funded partly by the International Alliance for the Protection of Heritage in Conflict Areas, this project provides valuable data for future heritage conservation strategies.
Planet Labs PBC (NYSE: PL) plans to release its fiscal Q2 2023 financial results, covering the period ending July 31, 2022, post-market on September 12, 2022. A conference call will follow at 5:00 p.m. ET to discuss the results. Additionally, Planet will host an Investor Day in location value="LU/us.ca.sanfrn"San Francisco on October 12, 2022, featuring key management presentations. The event will be available virtually for investors.
Planet Labs PBC (NYSE: PL) has signed a new contract with the National Oceanic and Atmospheric Administration (NOAA) to enhance monitoring of environmental hazards like oil spills and illegal fishing. Utilizing PlanetScope and SkySat satellite imagery, NOAA can evaluate oil spill locations and marine vessel activities. This collaboration enables near-daily updates over a 35,000 sq km area in the Gulf of Mexico, enhancing situational awareness and data accuracy for marine conservation efforts.