Planet Labs launches two AI-enabled satellites on SpaceX rocket

SAN FRANCISCO - Planet Labs PBC (NYSE:PL), the $2.06 billion market cap Earth observation company, successfully launched two high-resolution satellites, Pelican-3 and Pelican-4, aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California, the company announced Tuesday. The stock has shown remarkable momentum, delivering a 156% return over the past year according to InvestingPro data.

The company has established contact with both satellites and begun commissioning processes. These satellites join Pelican-1 and Pelican-2 in Planet’s growing fleet of next-generation tasking satellites, with additional launches planned for later this year.

The Gen 1 Pelican satellites are designed to provide up to 40 cm class resolution imagery across six multispectral bands. Through a partnership with NVIDIA, the satellites are equipped with NVIDIA Jetson AI platforms for on-orbit computing capabilities.

Planet Labs, founded in 2010 by three former NASA scientists, operates what it describes as the largest Earth observation fleet of imaging satellites. The company provides satellite imagery and geospatial solutions to customers in various sectors including agriculture, forestry, intelligence, education, finance, and government agencies.

The company is publicly traded on the New York Stock Exchange under the ticker PL and is structured as a public benefit corporation.

This information is based on a press release statement from Planet Labs PBC.

In other recent news, Planet Labs PBC announced the shipment of its Pelican-3 and Pelican-4 satellites to Vandenberg Space Force Base for an upcoming launch on SpaceX’s Falcon 9 rocket. This deployment will enhance the company’s imaging capabilities with up to 40 cm class resolution across six multispectral bands. Additionally, the company secured a significant €240 million multi-year contract with the German government, which includes pre-payment provisions to bolster its working capital. Planet Labs also expanded its contract with Colombia’s Instituto Geográfico Agustín Codazzi to include AI-powered analytics for improved land management. In another development, the company signed a six-figure contract with Farmdar, granting access to its satellite data to boost Farmdar’s crop insights platform. At its 2025 annual meeting, shareholders re-elected William Marshall and Robert Schingler, Jr., and elected Gary B. Smith as Class I directors. Needham reiterated its Buy rating for Planet Labs with an $8.00 price target, following the announcement of these new contracts.

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