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Planet Labs PBC (PL) is a Delaware public benefit corporation that operates the largest fleet of Earth observation satellites in history. The company specializes in imaging the world daily, creating a vast historical archive of Earth’s landmass, and delivering actionable insights through a cloud-native platform. Planet Labs sells satellite imagery, data analytics, and AI-ready datasets to a diverse range of industries, enabling customers to monitor global changes and integrate Earth data into their workflows.
- Satellite Imaging and Data Collection - Operates a fleet of medium- and high-resolution Earth observation satellites, capturing daily images of the Earth's landmass and maintaining a unique historical archive of over 2,700 images per point on average.
- Data and Analytics Platform - Provides a cloud-native platform that delivers Earth data and insights, supporting time-series forecasting, back-testing, and machine learning applications.
- AI-Ready Datasets - Processes satellite imagery into datasets optimized for analytics and machine learning, enabling customers to derive actionable insights.
- Revenue growth has slowed to 11% year-over-year, and you've mentioned challenges in onboarding large customers; what specific strategies are you implementing to accelerate growth and improve revenue predictability?
- The delayed renewal of the NASA contract impacted your net dollar retention rate and revenue; how are you addressing the dependency on large government contracts to mitigate such risks in the future?
- Despite securing significant bookings and approaching adjusted EBITDA profitability, there are operational challenges in ramping up revenue from new deals; how confident are you in sustaining profitability given these hurdles?
- With the upcoming launch of the Pelican satellites, what are your expectations for their contribution to revenue, and how quickly do you anticipate reaching high utilization and monetization of this new capability?
- The shift in your go-to-market strategy has resulted in a slower rate of new customer additions; how do you plan to balance focusing on larger accounts with maintaining a healthy pipeline of new customers to drive growth?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Identified as an incumbent in the satellite imagery industry, typically hosting a limited number of high-cost, high-resolution satellites primarily serving national governments and traditional satellite imagery industries. | |
Maxar | Recognized as an incumbent in the satellite imagery industry, operating high-cost, high-resolution satellites that primarily serve national governments and traditional satellite imagery industries. |
Classified as a next-generation satellite imagery company that has developed lower-cost, smaller satellites with ambitions to expand their fleet presence in Earth's orbit. | |
Satellogic | Listed as a next-generation satellite imagery company focusing on lower-cost, smaller satellites and aiming to increase their fleet presence in Earth's orbit. |
CG Satellite | Mentioned as a next-generation satellite imagery company working on lower-cost, smaller satellites with plans to expand their fleet in Earth's orbit. |
ImageSat International N.V. | Included as a competitor offering satellite and aerial imagery and related products and services. |
Foreign Governments (India, South Korea, Taiwan, etc.) | Foreign governments are noted as competitors that sell their satellite data commercially, potentially reducing reliance on commercial suppliers. |
Identified as an aggregator of imagery and imagery-related products and services, competing in the geospatial data market. | |
Listed as an aggregator of imagery and imagery-related products and services, competing in the geospatial data market. | |
Recognized as an aggregator of imagery and imagery-related products and services, competing in the geospatial data market. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sinergise | 2023 | Completed on August 4, 2023, the deal was structured for an approximate $40.0 million total consideration—comprising cash, Class A common stock, and escrowed liabilities—and its key rationale was to expand the data analysis platform to simplify extraction of insights from earth observation data by acquiring assets such as developed technology and customer relationships. |
Salo Sciences, Inc. | 2023 | Acquired on January 3, 2023 for a total fair value of $11.8 million (including $3.8 million cash and $8.0 million in contingent liabilities), this acquisition was strategically aimed at enhancing Planet Labs’ climate technology offerings to measure carbon stocks and monitor ecosystem changes, bolstered by milestone-based earnouts and integration of key intangible assets. |
VanderSat | 2021 | Completed on December 13, 2021, this $28 million acquisition—comprising $10.2 million in cash and approximately 1,900,739 shares of Class A common stock—was designed to augment Planet Labs’ advanced earth data analytics capabilities, particularly in agriculture and other sectors, by integrating VanderSat’s innovative technologies and expertise. |
Recent press releases and 8-K filings for PL.
Planet Labs PBC Reports Record Q4 2025 Results
- Record Q4 revenue of $61.6 million was achieved, representing a 5% year-over-year increase, with improved GAAP and Non-GAAP margins (62% and 65% respectively).
- The company reported significant operational growth with Recurring Performance Obligations of $407.5 million and a backlog of $498.5 million, reflecting strong demand and contract momentum.
- A major strategic highlight was the signing of a $230 million commercial agreement with SKY Perfect JSAT to build and operate a constellation of low-Earth-orbit Pelican satellites, underscoring expansion into new markets.