Planet Signs $230M Deal for Pelican Satellites to Boost Global Capacity

Planet Labs PBC, a leader in Earth data and insights, has announced a substantial commercial agreement worth $230 million. This multi-year contract expands its collaboration with a long-standing Asia-Pacific partner, facilitating the construction and operational delivery of a new Pelican satellite constellation. These satellites will offer enhanced high-resolution imaging capabilities, which Planet aims to utilize for both government and commercial customers globally. CEO Will Marshall perceives this partnership as a vital strategic opportunity in the growing satellite services market. The deal marks the largest contract for Planet Labs, emphasizing its commitment to leveraging advanced space systems for creating unique value propositions. The anticipated revenue from this agreement will be distributed over a seven-year term. As per CFO Ashley Johnson, this partnership bolsters Planet's financial stance significantly post FY26, without resorting to debt, and maintains existing financial guidance. This agreement aligns with Planet's history of strategic collaborations, including their work with the Carbon Mapper Coalition and NASA's CSP. Planet's Pelican satellites promise to enhance imaging capabilities beyond current systems, underscoring their pivotal role in applications ranging from agriculture to sustainability.