Planet Signs Seven-Figure Expansion with US-allied Government Agency for SkySat High Resolution Data
Planet Labs PBC (NYSE: PL) has secured a seven-figure contract expansion with a US-allied International Government Agency for SkySat high-resolution satellite data. The company's CEO, Will Marshall, highlighted the growing global demand for high-resolution satellite data due to increased security needs and climate disaster risks. Planet's SkySat fleet offers multiple daily revisits of any location worldwide with up to 50-centimeter resolution imagery.
Planet is developing its next-generation high-resolution fleet, Pelican, to enhance revisit rates, image resolution, and reduce latency. The company is also collaborating with NVIDIA to improve onboard processing capabilities for its Pelican-2 satellite, leveraging the NVIDIA Jetson edge AI platform. This collaboration aims to support faster time to value for customers across government and commercial markets.
Planet Labs PBC (NYSE: PL) ha ottenuto un espansione contrattuale a sette cifre con un'agenzia governativa internazionale alleata degli Stati Uniti per i dati satellitari ad alta risoluzione SkySat. Il CEO dell'azienda, Will Marshall, ha sottolineato la crescente domanda globale di dati satellitari ad alta risoluzione a causa dell'aumento delle esigenze di sicurezza e dei rischi legati ai disastri climatici. La flotta SkySat di Planet offre più passaggi giornalieri in qualsiasi posizione nel mondo con immagini ad alta risoluzione fino a 50 centimetri.
Planet sta sviluppando la sua flotta di nuova generazione ad alta risoluzione, Pelican, per migliorare i tassi di revisita, la risoluzione delle immagini e ridurre la latenza. L'azienda sta anche collaborando con NVIDIA per migliorare le capacità di elaborazione a bordo del suo satellite Pelican-2, sfruttando la piattaforma AI NVIDIA Jetson edge. Questa collaborazione mira a supportare un tempo di realizzazione più rapido per i clienti nei mercati governativi e commerciali.
Planet Labs PBC (NYSE: PL) ha asegurado una expansión de contrato de siete cifras con una agencia gubernamental internacional aliada de EE. UU. para datos satelitales de alta resolución SkySat. El CEO de la compañía, Will Marshall, destacó la creciente demanda global de datos satelitales de alta resolución debido a las mayores necesidades de seguridad y los riesgos de desastres climáticos. La flota SkySat de Planet ofrece múltiples revisitas diarias a cualquier ubicación en el mundo con imágenes de hasta 50 centímetros de resolución.
Planet está desarrollando su flota de alta resolución de próxima generación, Pelican, para mejorar las tasas de revisita, la resolución de las imágenes y reducir la latencia. La compañía también está colaborando con NVIDIA para mejorar las capacidades de procesamiento a bordo de su satélite Pelican-2, aprovechando la plataforma de IA NVIDIA Jetson edge. Esta colaboración tiene como objetivo apoyar un tiempo de entrega más rápido para los clientes en los mercados gubernamentales y comerciales.
Planet Labs PBC (NYSE: PL)은 미국과 동맹 관계를 맺고 있는 국제 정부 기관과 SkySat 고해상도 위성 데이터에 대한 7자리 계약 확장을 확보했습니다. 회사의 CEO인 Will Marshall은 증가하는 보안 요구 사항과 기후 재해 위험으로 인해 고해상도 위성 데이터에 대한 세계적인 수요가 증가하고 있다고 강조했습니다. Planet의 SkySat 함대는 전 세계 어디서든 최대 50cm 해상도 이미지로 일일 다수의 재방문을 제공합니다.
Planet은 재방문 비율, 이미지 해상도를 향상시키고 대기 시간을 줄이기 위해 차세대 고해상도 함대인 Pelican을 개발하고 있습니다. 회사는 또한 Pelican-2 위성의 온보드 처리 능력을 개선하기 위해 NVIDIA와 협력하고 있으며, NVIDIA Jetson 엣지 AI 플랫폼을 활용하고 있습니다. 이 협력은 정부 및 상업 시장에서 고객을 위한 빠른 가치 실현을 지원하는 것을 목표로 합니다.
Planet Labs PBC (NYSE: PL) a obtenu une extension de contrat à sept chiffres avec une agence gouvernementale internationale alliée aux États-Unis pour des données satellitaires haute résolution SkySat. Le PDG de l'entreprise, Will Marshall, a souligné la demande mondiale croissante de données satellitaires haute résolution en raison d'un besoin accru de sécurité et des risques de catastrophes climatiques. La flotte SkySat de Planet offre plusieurs revisites quotidiennes à n'importe quel endroit dans le monde avec des images d'une résolution allant jusqu'à 50 centimètres.
Planet développe sa flotte de nouvelle génération haute résolution, Pelican, pour améliorer les taux de revisite, la résolution des images et réduire la latence. L'entreprise collabore également avec NVIDIA pour améliorer les capacités de traitement à bord de son satellite Pelican-2, en tirant parti de la plateforme IA NVIDIA Jetson edge. Cette collaboration vise à soutenir un laps de temps plus court pour la création de valeur pour les clients dans les marchés gouvernementaux et commerciaux.
Planet Labs PBC (NYSE: PL) hat einen siebenstelligen Vertragsausbau mit einer von den USA unterstützten internationalen Regierungsbehörde für SkySat-Hochauflösungsdaten gesichert. Der CEO des Unternehmens, Will Marshall, hob die wachsende globale Nachfrage nach hochauflösenden Satellitendaten aufgrund zunehmender Sicherheitsbedürfnisse und Klimakatastrophenrisiken hervor. Die SkySat-Flotte von Planet bietet mehrfache tägliche Überflüge an jedem Standort weltweit mit Bildern von bis zu 50 Zentimeter Auflösung.
Planet entwickelt seine nächste Generation von Hochauflösungsflotten, Pelican, um die Überflugsrate zu erhöhen, die Bildauflösung zu verbessern und die Latenz zu verringern. Das Unternehmen arbeitet auch mit NVIDIA zusammen, um die Onboard-Verarbeitungsfähigkeiten seines Pelican-2-Satelliten zu verbessern und die NVIDIA Jetson Edge AI-Plattform zu nutzen. Diese Zusammenarbeit zielt darauf ab, die Zeit bis zur Wertschöpfung für Kunden in den Regierungs- und Commercial-Märkten zu verkürzen.
- Secured seven-figure contract expansion with US-allied International Government Agency
- SkySat fleet offers multiple daily revisits with up to 50-centimeter resolution imagery
- Developing next-generation Pelican fleet to enhance capabilities
- Collaboration with NVIDIA for improved onboard processing on Pelican-2 satellite
- None.
Insights
The expansion of a seven-figure contract with a US-allied government agency represents a significant financial milestone for Planet Labs PBC. This indicates robust demand and validation for their SkySat high-resolution data, which translates into increased revenue streams. Financially, such contracts provide greater predictability and stability in cash flows, which can be favorable for stock price appreciation. Investors should note the potential for recurring revenue and the implications for profitability in the long term. Furthermore, the planned transition to the Pelican high-resolution fleet suggests ongoing innovation and potential for future contract expansions or new customer acquisitions.
The technological advancements and capabilities of Planet’s SkySat and upcoming Pelican satellites cannot be overstated. The ability to provide multiple revisits per day with up to 50-centimeter resolution is a significant leap in satellite imaging technology. This high-frequency, high-resolution data is important for various applications, from security to environmental monitoring. The collaboration with NVIDIA to leverage AI for onboard processing is particularly noteworthy. This integration can significantly reduce latency and improve the speed at which actionable insights are delivered, setting Planet Labs apart from competitors in the high-resolution satellite imagery space.
The growing global demand for high-resolution satellite data, as highlighted by this contract expansion, underscores the expanding market for geospatial intelligence. Heightened security concerns and climate disaster risks are driving this demand, creating a favorable environment for companies like Planet Labs. Their strategic collaborations and technological advancements position them well to capitalize on this growth. Investors should consider the long-term market potential and the company’s ability to maintain and grow its market share in a competitive landscape.
“Global customer demand for high resolution satellite data continues to grow, fueled by heightened security needs and increased climate disaster risk,” said Will Marshall, Planet’s Chief Executive Officer and Co-Founder. “Our SkySat fleet provides organizations with a powerful combination of high frequency, low latency, high resolution data, enabling greater understanding of critical events around the world.”
Planet’s SkySat fleet offers multiple revisits per day of anyplace on the globe with up to 50 centimeter resolution imagery. Over time SkySats will be replenished with Planet’s next-generation high-resolution fleet, Pelican, which is designed to further increase revisit rates and image resolution, while also reducing latency and speeding customer time to insights. The first Pelican tech demo, launched in November 2023, continues to perform well.
“The ability to enable considerably faster alerting of various types of events around the world has the potential to unlock entirely new use cases for customers,” Will Marshall added.
Additionally, last month Planet announced that it is collaborating with NVIDIA on its onboard processing capabilities for its high-resolution Pelican-2 satellite. Through this collaboration, Planet will leverage the NVIDIA Jetson edge AI platform for its next-generation high-resolution mission and fly the technology on its Pelican-2 satellite, set to launch later this year. Leveraging recent advances in AI, Planet expects this collaboration to support shorter time to value for customers across government and commercial markets.
About Planet
Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to over 1,000 customers, comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter).
View source version on businesswire.com: https://www.businesswire.com/news/home/20240722299470/en/
Planet Press
Claire Bentley Dale
comms@planet.com
Planet Investor Relations
Chris Genualdi, Cleo Palmer-Poroner
ir@planet.com
Source: Planet
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