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Planet Labs PBC (PL) is a leading Earth-imaging company, specializing in providing high-resolution satellite data. Founded in 2010 by a team of former NASA scientists, the company’s mission is to image the entire Earth every day and make these changes visible, accessible, and actionable.
Starting as a small group of physicists, aerospace, and mechanical engineers working from a garage, Planet Labs pioneered the use of the CubeSat form factor. Their first designs led to the creation of the Dove satellite. Within just three years of launching their first satellite, Planet Labs now operates the largest constellation of Earth-imaging satellites ever deployed.
The company's fleet of satellites collects a radical new data set with endless real-world applications. Whether it’s measuring agricultural yields, monitoring natural resources, or aiding first responders during natural disasters, Planet Labs' data provides crucial support to businesses and humanitarian organizations alike.
Planet Labs is committed to empowering informed, deliberate, and meaningful stewardship of our planet through timely, global imagery. Their innovative satellite technology offers daily insights that aid in understanding the physical world and taking action based on those insights.
Recent achievements include expanding their satellite constellation, forming strategic partnerships with key industry players, and continually improving their data services. The company's innovative approach and robust satellite network enable it to deliver unmatched imaging capabilities.
For more details and the latest updates, visit their website at Planet Labs. You can also follow them on social media: Twitter and Facebook.
Planet Labs PBC (NYSE: PL) has announced a contract with American Crystal Sugar Company, facilitated by Planet partner SatAgro, a precision agriculture company. This collaboration enables American Crystal Sugar, the largest beet sugar producer in the U.S., to leverage Planet's satellite data for advanced sugar beet monitoring in the northern United States.
The partnership allows American Crystal Sugar to process and analyze PlanetScope satellite data within SatAgro's interface, providing near-daily insights on harvest progression, yield formation speed, and yield forecasts. This technology supports informed crop management decisions and improves the company's ability to monitor harvest progress and crop size across the Red River Valley of North Dakota and Minnesota.
SatAgro's digital platforms utilize various data sources, including Planet satellite imagery, to offer unique agronomic solutions. Planet's daily stream of high-resolution satellite imagery enables precision agriculture at scale, even in regions with frequent cloud cover, providing valuable input at each stage of crop management.
Planet Labs PBC (NYSE:PL) has launched Project Centinela, a program aimed at equipping biodiversity scientists and conservationists with high-resolution satellite imagery, analytics, and Planetary Variables. The project will support teams monitoring up to 50 vulnerable biodiversity hotspots over the next three years. Initially, eight locations across the globe are involved, including sites in Costa Rica, Brazil, Bolivia, Democratic Republic of the Congo, Tanzania, Uganda, Mozambique, Nepal, and Indonesia.
Planet's satellite constellation captures near-daily Earth imagery, enabling researchers to track ecosystem health and conservation efforts. Project Centinela participants will have access to Planetary Variables such as Forest Carbon, Soil Moisture, and Land Surface Temperature. The program is part of Planet's mission as a Public Benefit and contributes to the Kunming-Montreal Global Biodiversity Framework.
Planet Labs PBC (NYSE:PL) has renewed a 12-month contract with the Federal Police of Brazil for global daily monitoring of threatened rainforests. The seven-figure value contract, formalized through Planet's partner SCCON Geospatial, enables the continuation of the Brasil MAIS Program. This initiative has reportedly led to the collection of nearly $3 billion from fines, seized goods, and frozen assets related to illegal logging and mining, representing a 7,500% return on investment for the Ministry of Justice and Public Safety.
The renewed contract will allow over 100,000 users and 500 public institutions to monitor 8.6 million square kilometers of Brazilian territory and marine coast areas. Planet's daily satellite imagery helps map and monitor the country's landmass and alert users to near real-time changes in forest cover, aiding in the fight against illegal deforestation in the Amazon Rainforest.
Planet Labs PBC (NYSE: PL) has released first light images from its Tanager-1 hyperspectral satellite, taken on September 19th, 2024, of Karachi, Pakistan. The satellite, launched on August 16th, 2024, is the first of a planned constellation capable of imaging all wavelengths between 400-2500 nm simultaneously. Tanager-1 provides rich datacubes with 420 spectral channels, enabling detection of various surface features including gas emissions and plant species.
Partners and customers are expected to use the data for monitoring greenhouse gas emissions, defense intelligence, biodiversity assessments, and more. The satellite combines Planet's smallsat technology with NASA JPL's imaging spectrometer design. Planet plans to make the hyperspectral data commercially available in 2025 and continue developing its Smallsat platform for future missions.
Planet Labs PBC (NYSE:PL) has launched its Forest Carbon Monitoring product, offering quarterly, 3-meter resolution measurements of forests globally. This AI-powered system provides unprecedented data to support voluntary carbon markets, regulatory compliance, and deforestation mitigation. The product estimates aboveground carbon, canopy height, and canopy cover worldwide, dating back to 2021.
Leveraging PlanetScope imagery and a global library of LiDAR data, the system offers precise, scalable, and affordable measurements without sacrificing scientific rigor. It can be used to comply with the EU Deforestation Regulation and support carbon project investments. BeZero Carbon, a global ratings agency, has already utilized the product to enhance its carbon ratings methodologies.
Planet Labs Germany GmbH has signed a three-year contract with the German Space Agency at DLR to provide Earth observation data products and services. The contract includes access to PlanetScope products offering near-daily imagery at 3m resolution and a deep archive dating back to 2016. Additionally, the German Space Agency will receive Planet's entire archive of RapidEye imagery over Germany at 5m resolution since 2009.
This partnership aims to support research initiatives addressing national and global challenges, advance education, and enable innovative start-ups. Planet will also provide development support for DLR's Earth observation data platform (EO-Lab). The collaboration builds on a decade-long relationship, with the German Space Agency first integrating Planet data into their research programs in 2009.
Planet Labs PBC (NYSE: PL) has announced that its subsidiary, Planet Federal, has been selected for NASA's Commercial SmallSat Data Acquisition (CSDA) Program contract. This fixed-price, indefinite-delivery/indefinite-quantity, multiple-award contract runs through Nov. 15, 2028, with a maximum potential value of $476 million across all selected contractors.
Planet will continue providing NASA with its PlanetScope imagery and access to additional products, including its extensive archive. The company's constellation of hundreds of Dove satellites captures high-resolution daily images of Earth, averaging over 2,700 images for every point on Earth's landmass. This data supports various applications, including climate change monitoring, biodiversity assessment, and disaster response.
Planet Labs PBC (NYSE: PL) reported its Q2 FY2025 financial results, highlighting record quarterly revenue of $61.1 million, up 14% year-over-year. The company expanded its GAAP gross margin to 53% and non-GAAP gross margin to 58%. Key highlights include:
- End of Period Customer Count increased 7% YoY to 1,012 customers
- Net loss was $38.7 million, with $10.5 million related to non-recurring charges
- Adjusted EBITDA loss improved to $4.4 million from $14.5 million in Q2 FY2024
- Cash, cash equivalents, and short-term investments totaled $249 million
Planet also launched 36 SuperDove satellites and its first Tanager hyperspectral satellite. The company expects Q3 FY2025 revenue between $61-64 million and aims to achieve Adjusted EBITDA profitability in Q4 FY2025.
Planet Labs PBC (NYSE: PL), a leading provider of daily Earth data and insights, has announced its participation in three upcoming investor events in September 2024:
1. JP Morgan's Sustainable Agriculture panel on September 10th at 11:00 a.m. ET, featuring Ashley Johnson, President and CFO.
2. Morgan Stanley's 12th Annual Laguna Conference on September 11th in Dana Point, California, offering 1x1 investor meetings.
3. Northland Capital Markets' virtual fireside chat on September 16th at 3:15 p.m. ET, with Ashley Johnson participating.
These events provide opportunities for investors to engage with Planet's management and gain insights into the company's operations and strategy. Interested parties should contact the respective event hosts for attendance or meeting arrangements.
Planet Labs PBC (NYSE: PL) has signed a contract with the NATO Communications and Information Agency (NCIA) to support the Alliance Persistent Surveillance from Space (APSS) program. Planet's SkySat high-resolution satellite data will be used to provide imagery for detailed tracking and analysis of foreign military activities, monitoring infrastructure, and assessing threats. This will help create an unclassified common operating picture between allies.
The APSS program, launched in February 2023, aims to enhance NATO's space-based intelligence capabilities and improve data collection and delivery efficiency. This contract highlights Planet's growing presence in the government sector, following recent expansions with other international agencies.
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