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SAN FRANCISCO - Planet Labs PBC (NYSE:PL), a $2.76 billion market cap Earth observation company whose stock has surged over 360% in the past year, has released the first images from its recently launched Pelican-3 satellite, showing Turin, Italy, captured on September 5, 2025, from an altitude of 458 km.
The satellite, along with Pelican-4, was launched on SpaceX's Falcon 9 NAOS mission on August 26, 2025. According to the company's press release statement, image quality is expected to improve as the spacecraft complete instrument calibration and reach their final operational orbits. InvestingPro data shows the company maintains impressive gross profit margins of nearly 59% while growing revenue at 11.3% year-over-year.
"We're thrilled to be sharing our Pelican-3 first light imagery, captured just days after these satellites were launched," said Will Marshall, Co-Founder and CEO of Planet.
The Pelican-3 and Pelican-4 satellites join two previously launched units as part of Planet's next-generation high-resolution constellation. The company states that these first-generation Pelican satellites provide imagery across six multispectral bands with up to 40 cm class resolution and feature NVIDIA Jetson AI chips for on-orbit computing.
Planet expects its next generation of Pelican satellites, scheduled to launch beginning next year, to achieve 30 cm imagery resolution.
The Earth observation company, founded in 2010 by three NASA scientists, designs and operates a fleet of imaging satellites that provide data to customers in agriculture, forestry, intelligence, education, finance, and government sectors.
Planet Labs is a public benefit corporation listed on the New York Stock Exchange as PL. Trading near its 52-week high with strong financial health metrics, the company's detailed growth prospects and valuation analysis are available in the comprehensive Pro Research Report on InvestingPro, along with 16 additional expert insights for informed investment decisions.
In other recent news, Planet Labs reported strong fiscal second-quarter results, with revenue reaching $73.4 million, marking a 20% year-over-year increase. This exceeded consensus expectations of $66.0 million and represented the highest quarter-over-quarter growth in three years. Following these results, the company's guidance for fiscal Q3 and the second half of the year came in above consensus expectations. In related developments, Planet Labs priced a $400 million offering of 0.50% Convertible Senior Notes due 2030, increased from the initially announced $300 million. Analysts have responded positively, with Craig-Hallum raising its price target to $11 from $7, citing the company's expanded capabilities and strong performance across various sectors. Needham also raised its price target to $12 from $8, maintaining a Buy rating due to the robust fiscal results. JMP Securities followed suit, increasing its target to $11 from $8, while maintaining a Market Outperform rating. These adjustments reflect confidence in Planet Labs' growth trajectory and market performance.
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