Planet Labs

PL

Market cap $9.03B

PL bets on long-term AI-powered analytics and government deals as heavy investments weigh on near-term profits.

Planet Labs just signed a large contract with Sweden. Its price target was upgraded by Wedbush.

Planet Labs is experiencing a sharp growth inflection, with Q3 2026 revenue up 33% y/y and backlog surging 216% to $734.5 million. PL's Satellite Services model drives capital efficiency, shifting from CAPEX-heavy to capital-light growth and enabling high-margin, recurring revenue streams through long-term contracts. Profitability has turned a corner, with four consecutive quarters of positive adj. EBITDA and guidance for positive free cash flow in FY26/27, reducing dilution risk.

PL and RDW ride satellite demand, but only one boasts deeper diversification, stronger growth, and a cheaper valuation.

Planet Labs (PL) climbed +12% on January 12, 2026, in response to the announcement of a multi-year, low nine-figure agreement with the Swedish Armed Forces. The stock gapped up on substantial volume, breaking through recent resistance.

Planet Labs ( NYSE:PL ) has been on a tear, soaring 388% in 2025 and up another 96% since reporting earnings one month ago.

Planet Labs (NYSE:PL) shares jumped nearly 12% to about $25 after the company announced a new multi-year, nine-figure agreement with the Swedish Armed Forces to provide satellites, space-based data, and awareness solutions to support Sweden's military and security operations. Under the agreement, Sweden will own a suite of Planet satellites and will have access to the company's high-resolution data and intelligence products.

Planet Labs just signed a 9-figure deal with Sweden. Planet will sell satellite data -- and satellites -- to the Swedish military.

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC, a leading provider of daily data and insights about change on Earth, today announced a multi-year low 9-figure agreement with the Swedish Armed Forces to rapidly deliver a suite of satellites, space-based data and awareness solutions to support the country's peace and security operations. This agreement marks Planet's third Satellite Services contract in twelve months, signaling robust demand for Planet's innovative, rapidly deployed space-based.

Planet Labs' ability to image the entire planet daily gives it a distinct competitive advantage. Revenue levels are at less than 1% of its estimated total addressable market.