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SAN FRANCISCO - Planet Labs PBC (NYSE: PL), a prominent daily Earth data and insights provider with a market capitalization of $1.13 billion and impressive gross profit margins of 57.72%, has signed a contract with the European Space Agency on behalf of the Hellenic Ministry of Digital Governance. According to InvestingPro data, the company has demonstrated solid revenue growth of 10.72% over the last twelve months. This collaboration is part of the Greek National SmallSat Programme, backed by the Recovery and Resilience Fund (RRF) Greece 2.0, aiming to enhance Greece’s satellite technology development.
The contract will allow Greece to utilize Planet’s PlanetScope data, which offers near-daily scans of Earth’s landmass at 3-meter resolution. This data will support the creation of future downstream services for Greece’s national satellite data program, enable technological advancements, and supplement the country’s existing satellite data sources.
Dimitris Bliziotis, Earth Observation Officer of the Hellenic Space Center (HSC), emphasized the importance of Planet’s satellite data in optimizing tasking capabilities and ensuring integration across the national satellite program’s downstream projects.
Martin Polak, Senior Director of Government Sales in EMEA at Planet, expressed pride in the contract, highlighting the ongoing global space renaissance and the role of government-commercial partnerships in fostering innovation.
Professor Konstantinos Karantzalos, Secretary General of Telecommunications & Post at the Ministry of Digital Governance, anticipates that access to Planet’s satellite data will accelerate innovation and enhance the integration of Greece’s national space assets.
Planet Labs has a history of providing satellite data and services to international governments, including a recent contract with the Japanese Space Agency (through JSAT). The company operates the largest fleet of Earth observation satellites and serves approximately 1,000 customers across various sectors, including agriculture, forestry, intelligence, and government agencies. InvestingPro analysis reveals the company maintains strong financial flexibility with a current ratio of 2.13, indicating robust short-term liquidity.
This partnership with the European Space Agency and the Hellenic Ministry of Digital Governance marks another milestone for Planet in its mission to image the world daily and make change visible, accessible, and actionable. The information for this article is based on a press release statement. For deeper insights into Planet Labs’ financial health, growth prospects, and 12 additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the detailed Pro Research Report available for over 1,400 US stocks.
In other recent news, Planet Labs has been the focus of several analyst reports and financial updates. The company reported mixed financial results for the fourth quarter of fiscal year 2025, with an adjusted EBITDA of $2.4 million surpassing expectations, while revenue of $61.55 million slightly missed the forecast. Analysts from Benchmark maintained a Buy rating with a $7.00 price target, highlighting the transformative $230 million agreement with JSAT, which is expected to significantly impact the company’s fiscal year 2026 performance. Cantor Fitzgerald also reiterated an Overweight rating with a $6.30 price target, noting initial investor confusion over gross margin and cash flow mechanics.
JMP Securities held a Market Outperform rating with a $6.50 price target, despite the mixed financial report. Planet Labs’ strategic shift to selling satellite hardware to key international customers, such as JSAT, is anticipated to cut cash burn by half and provide a path to positive free cash flow within 24 months. The company also reported a record annual revenue of $244.4 million, reflecting an 11% year-over-year growth, and its first quarter of adjusted EBITDA profitability. Looking ahead, the company projects fiscal year 2026 revenue between $260 million and $280 million, slightly below consensus estimates, with a focus on leveraging artificial intelligence products and expanding its satellite services market.
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