Bullish indicating open at $55-$60, IPO prices at $37
Planet Labs PBC (NYSE:PL), a $2 billion market cap company that has delivered an impressive 237% return over the past year, held its 2025 annual meeting of stockholders on Thursday. According to InvestingPro data, the company maintains a FAIR financial health score with notably strong gross profit margins of 58%. According to a press release statement, shareholders re-elected William Marshall and Robert Schingler, Jr. as Class I directors for three-year terms. Gary B. Smith was also elected as a Class I director for a three-year term.
For the director elections, Marshall received 498,879,731 votes in favor, with 26,917,502 votes withheld. Schingler, Jr. received 501,552,218 votes in favor and 24,245,015 votes withheld. Smith received 523,354,853 votes in favor, 1,289,528 against, and 1,152,852 abstentions. There were 52,499,570 broker non-votes for each nominee.
Shareholders also ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending January 31, 2026. The results included 574,428,180 votes in favor, 1,446,776 against, and 2,421,847 abstentions.
In a non-binding advisory vote, shareholders approved the compensation of named executive officers for the fiscal year ended January 31, 2026. The vote totaled 512,396,576 in favor, 4,296,082 against, and 9,104,575 abstentions, with 52,499,570 broker non-votes.
A total of 176,302,669 shares of Class A and Class B common stock, representing 578,296,803 votes, were represented at the meeting or by proxy. Each Class A share was entitled to one vote, and each Class B share to twenty votes.
This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission. Planet Labs’ Class A common stock and warrants trade on the New York Stock Exchange under the symbols (NYSE:PL) and NYSE:PLWS, respectively.
In other recent news, Planet Labs has secured a significant €240 million multi-year contract with the German government for satellite services, set to begin generating revenue in January 2026. This agreement includes dedicated satellite capacity, direct downlink services, and access to PlanetScope and SkySat data, along with AI-enabled solutions for enhanced situational and maritime domain awareness. In addition to the German contract, Planet Labs announced four major AI-enabled defense contracts, including expansions with the U.S. Defense Innovation Unit and the U.S. Navy, as well as a seven-figure contract with NATO. These developments strengthen Planet Labs’ position in the government satellite services sector. Needham has reiterated a Buy rating for Planet Labs, citing increased confidence in the company’s growth potential. Another recent development includes a six-figure contract with Farmdar, an agriculture technology company, to enhance its crop insights platform using Planet’s satellite data. The partnership aims to modernize agricultural practices through AI-driven solutions. Planet Labs continues to maintain its financial guidance for the current fiscal year, with the German contract revenue expected in 2026.
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