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Planet Labs PBC ( (PL) ) has shared an update.
On January 29, 2025, Planet Labs PBC announced a $230 million multi-year agreement with an Asia-Pacific partner to build and deliver a constellation of Pelican high-resolution satellites. This agreement, Planet’s largest to date, allows the company to expand its satellite capacity and enhance services for global government and commercial customers, while strengthening its financial position for FY’26 and beyond. The deal underscores Planet’s strategic growth in the satellite services market, and is expected to significantly contribute to cash flow and strengthen the balance sheet, without altering its financial guidance for the fourth quarter.
More about Planet Labs PBC
Planet Labs PBC is a leading provider of daily satellite imagery and geospatial solutions. Founded in 2010 by former NASA scientists, it operates the largest Earth observation fleet of imaging satellites, offering mission-critical data and insights to over 1,000 customers worldwide, including those in agriculture, forestry, intelligence, and government sectors.
YTD Price Performance: 37.53%
Average Trading Volume: 5,031,692
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.63B
For an in-depth examination of PL stock, go to TipRanks’ Stock Analysis page.
