Welcome to our dedicated page for Planet Labs Pbc news (Ticker: PL), a resource for investors and traders seeking the latest updates and insights on Planet Labs Pbc stock.
Planet Labs PBC (NYSE: PL) is an Earth-imaging and geospatial data company that regularly issues news about its satellite launches, government contracts, AI-enabled solutions, and financial performance. As a provider of global, daily satellite imagery and geospatial solutions, Planet’s announcements often highlight developments across its SuperDove monitoring fleet, high-resolution Pelican constellation, and planned Owl next-generation monitoring satellites.
Investors and analysts following Planet Labs PBC can use this news feed to review updates on satellite deployments, such as the launch of Pelican-5 and Pelican-6 and dozens of SuperDoves on SpaceX rideshare missions, as well as first light imagery from newly commissioned spacecraft. The company’s releases also describe AI capabilities on board its satellites and initiatives to explore AI computing in space through projects that involve advanced processors.
Planet frequently reports on contracts and partnerships with government and commercial customers. Recent examples include a multi-year low 9-figure satellite services agreement with the Swedish Armed Forces, an 8-figure contract renewal with an international defense and intelligence customer, awards from the National Geospatial-Intelligence Agency and the U.S. Navy, and contracts with organizations such as NASA, the National Reconnaissance Office, NATO, AXA Digital Commercial Platform, and the Tennessee Department of Environment and Conservation.
In addition, Planet’s news covers financial results, including quarterly earnings releases, metrics such as recurring contract value and backlog, and capital markets activities like convertible note offerings. Readers can also find announcements about acquisitions, such as the purchase of Bedrock Research, and strategic partnerships, including collaborations with Quantum Systems and Google. This page brings together these updates so users can track Planet’s operational progress, customer relationships, and technology roadmap over time.
Planet Labs PBC (NYSE: PL), a leading provider of daily Earth data and insights, has announced its participation in the 27th Annual Needham Growth Conference. Ashley Johnson, President and Chief Financial Officer, will engage in a fireside chat on January 14th, 2025, at 3:00 p.m. Eastern Time. The discussion will be led by Ryan Koontz, Managing Director & Senior Equity Research Analyst at Needham & Company.
The company will be available for one-on-one meetings with investors during the conference. The fireside chat will be accessible via webcast on Planet's Investor Relations webpage.
Planet Labs PBC (NYSE: PL) reported Q3 FY2025 financial results with record revenue of $61.3 million, up 11% year-over-year. The company achieved record GAAP gross margin of 61% and non-GAAP gross margin of 64%, representing significant improvements from the previous year.
Key highlights include securing major contracts with NASA ($19.95M), US Department of Defense, and multiple international governments. The company reported a net loss of $20.1 million, improved from $38.0 million in Q3 FY2024. Planet ended the quarter with $242 million in cash and no debt.
For Q4 FY2025, Planet expects revenue between $61-63 million and anticipates achieving Adjusted EBITDA profitability next quarter.
Planet Labs PBC (NYSE:PL) announced that its latest high-resolution satellite Pelican-2 and 36 SuperDoves have arrived at Vandenberg Space Force Base, preparing for launch in early 2025 via SpaceX's Transporter-12 Rideshare mission.
Pelican-2 features up to 40 cm class resolution imagery across 6 multispectral bands and is equipped with the NVIDIA Jetson platform for edge AI computing, aiming to reduce data delivery time from hours to minutes. The satellite includes C-band and Ka-band radios for satellite-to-satellite communications testing, building on NASA Communications Services Project work.
The 36 SuperDove satellites (PlanetScope Flock 4G) will join Pelican-2 to replenish Planet's medium resolution fleet, which captures daily, 8-band data of Earth's changing systems.
Planet Labs PBC (NYSE: PL) announced an expanded contract with Colombia's National Police, specifically supporting the Antinarcotics Directorate (DIRAN). The collaboration enables DIRAN to monitor and combat illicit crop cultivation using Planet's satellite data solutions.
DIRAN utilizes three key Planet products: PlanetScope for near-daily 3m resolution imagery, Planet Basemaps for cloud-free mosaics, and SkySat for detailed 50cm resolution imagery of specific areas. This technology allows DIRAN to track crop health, identify illegal cultivation, and implement targeted eradication strategies.
The partnership, ongoing since 2017, has enhanced DIRAN's operational efficiency in monitoring illegal crop operations, planning eradication routes, and assessing resource requirements for intervention efforts.
Planet Labs PBC (NYSE: PL) has signed a multi-year, seven-figure deal with Laconic to provide Forest Carbon Monitoring products for the next three years. The partnership combines Planet's satellite-derived forest carbon data with Laconic's SADAR Natural Capital Monetization platform to enable informed carbon credit trading. Planet will provide both its 3-meter Forest Carbon Monitoring product, offering quarterly carbon estimates since 2021, and its 30-meter Forest Carbon product with data dating back to 2013. The collaboration aims to create a trusted system for sovereign carbon trading, helping governments monetize natural carbon assets through accurate forest monitoring and verification.
Planet Labs PBC (NYSE: PL) announced that Robert Cardillo, Chief Strategist and Chairman of Planet Federal, will participate in a fireside chat at the Goldman Sachs Industrials & Materials Conference on December 5th, 2024, at 9:20 a.m. Eastern Time. The discussion will be hosted by Noah Poponak, Goldman Sachs' Managing Director and U.S. Aerospace & Defense Equity Research Analyst.
Cardillo, who serves on Planet Labs' Executive Team, previously served as Director of the National Geospatial-Intelligence Agency (2014-2019) and delivered over 1,400 editions of the President's Daily Brief to President Obama and Vice President Biden (2010-2014). The fireside chat will be accessible via Planet's Investor Relations webpage.
Planet Labs PBC (NYSE: PL) announced a new 6-figure contract expansion with Global Fishing Watch to enhance ocean monitoring capabilities. The agreement provides 3-meter optical imagery coverage of global coastlines through PlanetScope data. Global Fishing Watch will use this data with Machine Learning to map small vessel activity and detect vessels not using Automatic Identification Systems (AIS) or Vessel Monitoring Systems (VMS).
The collaboration aims to improve tracking of previously unmonitored vessels, particularly targeting the millions of small fishing vessels responsible for nearly half of global seafood catch. This enhanced monitoring will support ocean governance efforts and enable better decision-making for maritime surveillance and fisheries management.
Planet Labs PBC (NYSE:PL) has announced it will release its fiscal third quarter 2025 financial results for the period ended October 31, 2024, after market close on Monday, December 9, 2024. The company's management will host a conference call to discuss financial results and business outlook at 5:00 p.m. ET / 2:00 p.m. PT on the same day. The conference call will be webcast live on Planet's Investor Relations website, with a replay available approximately two hours after the event.
Planet Labs PBC (NYSE: PL) has expanded its partnership with French digital farming company Abelio. The expansion triples Abelio's access to Planet's agricultural data across France compared to 2023 levels. Abelio uses Planet's satellite data and Insights Platform to power its AI-driven precision farming solutions. The partnership has enabled Abelio to help farmers reduce nitrogen use by 5-10% on average, while automating services and reducing development costs. The expanded access will strengthen Abelio's solutions for irrigation management, crop monitoring, disease detection, and weed detection.
Planet Labs PBC (NYSE: PL) has released Analysis-Ready PlanetScope (ARPS), a new product that creates harmonized and spatially consistent near-daily stacks of images for time-series analysis and machine learning applications. ARPS normalizes data from PlanetScope's daily 3m imagery and harmonizes it with third-party sources to produce pre-processed image stacks.
The product is designed to enable more efficient management of large land areas, offering benefits for government agencies, agricultural operations, and forestry companies. ARPS streamlines data for analysis, reducing the time spent on data formatting and allowing users to focus on analyzing changes over time. It is integrated into the Planet Insights Platform, providing stakeholders with an accessible way to analyze relevant changes over time in one place.