PLANET LABS PBC reported a transitional and record-breaking fiscal year, achieving its first adjusted EBITDA profitable quarter and securing a landmark $230 million satellite services contract. The company is strategically focused on doubling its revenue growth rate by FY'27, driven by new AI-powered solutions and expanded satellite services.
- Secured a Landmark $230 Million Satellite Services Contract with JSAT: This multi-year agreement involves Planet building, launching, and operating a constellation of 10 high-resolution Pelican satellites, with Planet retaining commercial rights to most of the global capacity, significantly boosting backlog to nearly $0.5 billion and providing a clear path to double revenue growth by FY'27.
- Accelerating AI Integration and Platform Innovation: Planet is making a "big step up in AI" this year, collaborating with leaders like Anthropic to enhance its Planet Insights platform and develop AI-enabled solutions such as Maritime Domain Awareness and Global Monitoring Service, leveraging its unique daily scan and deep archive for faster insight delivery.
- Advanced Next-Generation Satellite Fleet Deployment: The company successfully launched its Second Pelican and First Tanager spacecraft, with multiple Pelican launches planned to scale its high-resolution fleet. Tanager 1 is already producing powerful hyperspectral data for select customers, with broader commercial availability expected soon, underpinning a plan to launch nearly 100 satellites in the next two years.