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 (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 partnered with The Nature Conservancy (TNC) to develop the Blue Carbon Explorer, a digital tool designed to map blue carbon ecosystems, specifically mangroves and seagrasses. This initiative aims to facilitate data-informed decisions for the protection and restoration of coastal ecosystems. Blue carbon ecosystems can store significant amounts of carbon, with mangroves alone sequestering over 31 million tons annually. The Blue Carbon Explorer utilizes advanced satellite imagery from Planet to identify restoration areas and monitor habitat health. The collaboration has already begun to provide insights into changing coastal habitats in regions including the Caribbean and Papua New Guinea, contributing to better resource management and carbon accounting.
Ursa Space Systems announced that Planet Labs PBC (NYSE: PL) will join its Virtual Constellation and Partner Network. This partnership provides Ursa Space customers with daily satellite data addressing significant challenges in various sectors, including agriculture, defense, and energy. Planet operates hundreds of SuperDove satellites with 3.7-meter resolution imagery, covering extensive global areas and delivering multiple daily revisits. The collaboration aims to enhance transparency and insights into the energy industry, showcasing the real-world applications of Planet's data. CEO Adam Maher emphasized the transformative potential of this partnership for solving urgent problems.
Planet Labs PBC (NYSE: PL) has announced its acquisition of Sinergise, a leading developer of Earth Observation (EO) data platforms, aimed at simplifying insights extraction and reducing EO data storage costs. This strategic acquisition, expected to close in Q2 of the fiscal year, enhances Planet's Earth Data Platform by integrating Sinergise's technology, including the Sentinel Hub. The move is projected to expand Planet's market reach across sectors such as agriculture and finance, while reinforcing its commitment to developing the downstream market in Europe. Planet has previously acquired five companies, marking this as its sixth acquisition.
Planet Labs PBC (NYSE: PL) reported record revenue of $191.3 million for full year 2023, up 46% year-over-year, with a fourth quarter revenue increase of 43% to $53 million. Gross margin expanded to 49%, with fourth quarter figures at 55%. The company projects FY 2024 revenue guidance of $248-$268 million, indicating a 35% growth. Planet's customer count rose 15% to 882, and its net dollar retention rate reached 131%. Planet maintains a strong cash position with $408.8 million in liquid assets, providing a solid foundation for future growth.
Planet Labs PBC (NYSE: PL) announced that its subsidiary, Planet Labs Federal, has secured a contract with the National Reconnaissance Office (NRO) under the Strategic Commercial Enhancements program. This contract aims to explore how Planet’s hyperspectral capabilities can enhance the NRO’s national space security framework. The partnership allows the NRO to perform modeling, simulation, and evaluate future capabilities. Planet's hyperspectral payload, developed with NASA JPL, supports a wide spectral range and aims to accelerate the integration of commercial capabilities into governmental operations.
Planet Labs PBC (NYSE:PL) will release its fiscal fourth quarter and full year 2023 financial results for the year ending January 31, 2023, after market close on March 29, 2023. A conference call to discuss these results and future business outlook will occur the same day at 5:00 p.m. ET / 2:00 p.m. PT. Investors can listen via the live webcast on Planet's Investor Relations website, which will also provide an archived version two hours post-event. Planet is recognized for its extensive satellite imagery, servicing over 800 customers across various sectors, capturing over 30 terabytes of data daily.
Planet Labs PBC (NYSE: PL) announced its participation in two upcoming investor conferences. Mike Safyan, Vice President of Launch, will speak at Citi’s 2023 Global Industrial Tech and Mobility Conference in Miami on February 21, 2023, at 3:30 p.m. ET. Donna Prlich, Chief Marketing Officer, will join a Fireside Chat at the JMP Securities Technology Conference in San Francisco on March 6, 2023, at 2:00 p.m. PT. Interested attendees are encouraged to reach out to the conference hosts for registration details.
About Planet: Founded in 2010, Planet operates the largest Earth observation satellite fleet, capturing over 30 TB of data daily, serving over 800 clients worldwide.
Planet Labs PBC (NYSE: PL) has announced a partnership with NASA Harvest to develop a comprehensive Food Security and Agricultural Monitoring Solution. This initiative aims to leverage satellite data and analytics to enhance agricultural assessments and identify potential threats to global food security. Their collaboration will utilize data to create tools that aid national governments and organizations worldwide in decision-making related to agriculture. The partnership builds upon previous successful projects, notably monitoring agricultural impacts in Ukraine during the ongoing conflict.
Planet Labs PBC (NYSE: PL) has completed its acquisition of Salo Sciences, a climate technology company based in San Francisco, as of January 3, 2023. This strategic move aims to enhance Planet's capabilities in carbon stock measurement and forest change monitoring. By integrating Salo's advanced analytics with Planet's daily Earth observation data, the company intends to offer improved climate solutions and support global sustainability goals. This acquisition marks Planet's fifth since its inception.
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