Planet Labs PBC

Planet Labs launched 20 satellites on SpaceX's Transporter-18 rideshare from Vandenberg, sending up a stack that included a prototype for Google's Project Suncatcher, Tanager-2, and 18 SuperDoves, according to a company press release. Planet Labs established contact and began commissioning Tanager-2, the Suncatcher prototype, and two SuperDoves. Google is using the Planet-hosted demo to run four TPUs with the Gemma AI model in orbit, a step toward space-based AI compute. Shares of the earth imaging satellite company jumped 7.8% in the afternoon session on the news. Planet Labs is down 14.5% since the beginning of the year, and at $17.44 per share it is trading 66.1% below its 52-week high of $51.40 from May 2026.

Broadcom is reportedly assembling a $60B debt package to fund AI infrastructure buildouts for companies like Anthropic, consisting of a $42B senior-secured tranche syndicated by banks and an $18B junior tranche led by Blackstone. Google has partnered with Planet Labs to successfully launch its Project Suncatcher prototype satellite into orbit aboard a SpaceX rocket, testing how well Google's Tensor Processing Units handle the extreme radiation and thermal conditions of space. Crude oil futures fell sharply following reports that the European Union and the International Energy Agency are discussing the release of 100M combined barrels of diesel and crude reserves to ease global supply shortages, a move urged by U.S. Treasury Secretary Scott Bessent. Nike's overall sales dropped 4% in its fiscal first quarter, dragged down by a 22% decline in Greater China and soft e-commerce, and its disappointing full-year revenue forecast sent shares tumbling around 10% in premarket trading while prompting acceleration of a new $2.5B cost-saving initiative called Pace. Eurozone annual inflation jumped to 3.8% in September, surpassing estimates of 3.6% and up from 3.2% the previous month, while core inflation rose slightly to 2.5% in line with expectations.

Google said Thursday that its prototype satellite for Project Suncatcher, built in partnership with Planet Labs, launched into orbit aboard the Transporter-18 rideshare mission with SpaceX. The tech giant said its team has confirmed contact with the satellite, and it is operating as expected. Travis Beals, senior director of Project Suncatcher, wrote in a blog post following the launch that this is the first step in a long-term research moonshot exploring whether space could one day host scalable machine learning infrastructure, and that over the coming weeks the team will gather in-orbit data on how its TPUs handle the physical stress of spaceflight and the radiation and thermal extremes of space. Alphabet holds a stake worth more than $82B in SpaceX, which went public in June in a record IPO. SpaceX, led by Elon Musk, has also announced that it plans to build and launch its orbital data centers.

Alphabet is fast-tracking an experimental AI satellite launch under Project Suncatcher, embedding custom AI chips into a Planet Labs satellite preparing for an upcoming orbital deployment. Management is using the project to test AI-powered orbital data centers as a new approach to remote computing capacity, treating the satellite as another node for AI workloads alongside Google Cloud, Gemini and TPU investments. The clearest next marker for investors is whether Alphabet reports concrete usage metrics or customer pilots linked to the Suncatcher satellite after the planned 1 October deployment, with references on future earnings calls to AI workload performance, energy efficiency or integration into Google Cloud services showing whether the trial is scaling beyond a one-off experiment. The article also notes two warning signs, both major, for Alphabet, and cites a fair value estimate of $429.

Planet Labs PBC advanced its Pelican program, with the upgraded Gen 2 Pelican-12 high-resolution satellite arriving at Cape Canaveral for launch and the company opening a Berlin facility capable of producing up to 60 Pelican satellites annually. The Berlin plant scales Pelican-class satellite manufacturing to as many as 60 units per year from a single site, supporting Planet's push toward higher-resolution imaging, faster data delivery and scaled production for environmental and commercial applications. Planet Labs also took part in the Amazon.ia biodiversity initiative and holds about US$865 million in cash. The company's investment narrative still hinges on converting a US$815 million backlog and a US$4 billion pipeline into profitable, repeatable contracts, while rising capex and launch costs pressure already negative earnings. Planet Labs' narrative projects $791.4 million in revenue and $54.3 million in earnings by 2029, with a $34.00 fair value estimate implying 95% upside to its current price.

Alphabet will launch an experimental AI satellite as the first hardware of Project Suncatcher on Oct. 1, months ahead of schedule, according to a New York Times report. The satellite, named MVP, will fly on a SpaceX Falcon 9 from Vandenberg Space Force Base in California carrying four Google tensor processing units with roughly the computing power of one data-center server, powered by solar panels delivering about one kilowatt. Google had first said its Suncatcher prototypes with Planet Labs would launch in early 2027, and to accelerate the timeline it installed its chips in a ready-made Planet Labs satellite, accepting added risk; Google, an investor in Planet Labs, still plans to launch a pair of satellites next year and has designs for fleets of more than 80 satellites flying in close formation. The chips can run for about 15 minutes before shutting down to cool, and the satellite is designed to operate for about a year. Google estimates orbital data centers could become cost-competitive with ground facilities by the mid-2030s, though senior vice president for research James Manyika said, "We don't expect, to be perfectly frank, that we'll have anything usefully operational in the next few years."

Elon Musk may be poised for a Zuckerberg-style comeback moment as Tesla prepares to debut its Roadster on October 1st in Waco, Texas, and ramps up production at its Tesla Semi factory targeting 50,000 units a year. Meanwhile, the average interest rate on a 30-year mortgage has climbed to 7.45%, its highest level in three years, pushing the monthly payment on a $500,000 mortgage to $3,479 — up from $2,995 just seven months ago, an additional $5,813 a year in mortgage interest expense for homebuyers. On the tech front, Alphabet is launching data centers in space in partnership with Planet Labs for the first time on October 1st, carrying its TPUs aboard a SpaceX booster, a move that could strengthen its position against competitors in both AI chips and driverless cars through Waymo. Bradley Tusk, a longtime tech investor and political strategist, said on the show that OpenAI has about 1 trillion4 in Capex commitments, roughly $1 trillion more than Anthropic's approximately $400 billion, and argued OpenAI and Anthropic are wildly overvalued. Tusk also praised Meta's open-source AI inference strategy as brilliant, though he said he is not a Mark Zuckerberg fan due to the harm he believes Instagram has caused to children.

Planet Labs PBC has signed a new seven-figure, one-year agreement with a European defense and intelligence customer, expanding its commercial footprint in the region beyond previously disclosed contracts. The deal adds to Planet Labs' existing government relationships, including the NGA, Swedish Armed Forces, and the Defense Innovation Unit, and highlights the growing use of its data and services among major government clients. The contract, though short in duration, supports the company's narrative of focusing on higher-value solutions and larger customers, such as Planet Mosaics and Professional Services. Investors should watch for future quarterly updates to see if the company secures more multi-year or expanded contracts with large government partners, as the mix of solution-led contracts will be a key indicator of success.

Planet Labs reported fiscal second-quarter revenue of $116.1 million, up 58.1% year over year and beating analyst estimates of $105.1 million, driven by strong growth in its defense and intelligence sector, which grew over 90% year over year. However, the company's guidance for the next quarter of $103 million fell 10.5% short of expectations, and its full-year EBITDA guidance of $6.5 million at the midpoint also missed analyst estimates of $9.79 million. Adjusted earnings per share came in at $0.02, significantly above the consensus loss of $0.02. Management highlighted rapid satellite deliveries, including a handover to the Swedish Armed Forces, and a $4 billion pipeline in satellite services, with over $1 billion qualified as near-term opportunities. The company slightly raised its full-year revenue guidance to $435.5 million at the midpoint from $433 million.

In premarket trading, AMC Entertainment gained 5.5% after its CEO criticized Robinhood for offering stock tokens, calling the practice contemptible, while rare earth stocks rose following reports that some Chinese firms halted U.S. shipments. Smith & Wesson jumped 11.7% on an earnings beat, but Lululemon tumbled 20% on weak guidance, and Adobe slipped nearly 3% after naming Anil Chakravarthy as its next CEO. Planet Labs advanced 13% on strong results, while Guidewire Software fell 14.5% on disappointing revenue guidance, and Oxford Industries sank 17% after cutting its full-year outlook.

Nvidia and Planet Labs each reported quarter-over-quarter revenue growth over the last eight periods, though Nvidia's revenue remains vastly larger. Nvidia's revenue reached $81.6 billion in its fiscal first quarter ended April 26, 2026, an 85% year-over-year increase, while Planet Labs posted $94.2 million in its quarter ended April 30, 2026, up 42% year-over-year. Nvidia expects revenue to accelerate to $91 billion next quarter, nearly double the $46.7 billion from the prior year, and Planet Labs forecasted revenue between $102 million and $107 million, a significant jump from $73.4 million a year earlier. Planet Labs' backlog rose 72% year-over-year to over $900 million, signaling continued sales growth. Both companies' consistent top-line expansion reflects strong customer demand in their respective markets.

Broadridge Financial Solutions and other data and business process services stocks reported strong first-quarter results, with the group's revenues beating analysts' consensus estimates by 2.7% and next-quarter revenue guidance coming in 0.8% above expectations. Broadridge posted revenues of $1.95 billion, up 7.8% year on year and exceeding estimates by 2.7%, while Planet Labs led the group with a 42.1% revenue surge to $94.15 million and the highest guidance raise. TransUnion, the weakest performer, saw revenues rise 13.7% to $1.25 billion but missed EPS guidance for the next quarter. Equifax grew revenues 14.3% to $1.65 billion, and Fair Isaac Corporation jumped 38.7% to $691.7 million, delivering the biggest analyst estimate beat but the weakest full-year guidance update. Despite the beats, share prices were relatively unchanged on average, with Broadridge down 4.9%, Planet Labs plunging 49.6%, TransUnion up 13.7%, Equifax down 9.5%, and Fair Isaac up 21%.

Planet Labs and BlackSky Technology are gaining attention as artificial-intelligence-driven space stocks with established track records, offering alternatives to the highly valued SpaceX. Planet Labs operates about 200 Earth-imaging satellites and reported fiscal 2027 first-quarter revenue of $94 million, up 42% year-over-year, with an adjusted EBITDA loss of $1 million and a backlog that grew 72% to more than $906 million. The company has integrated Anthropic’s Claude AI into its platform to help non-expert users query satellite data. BlackSky uses its Spectra platform to automatically detect and classify vessels, vehicles, and aircraft in under 90 minutes, and recently won a series of U.S. government contracts for AI-enabled battle damage analytics, adding to a $160 million contract haul in the first quarter and a total potential contract value of up to $2.7 billion. Both stocks have risen more than 40% this year.

Planet Labs announced the successful launch of Pelican-11, the tech demonstration satellite for the second generation of its high-resolution Pelican fleet. The spacecraft was launched to orbit aboard the Transporter-17 rideshare mission with SpaceX from Vandenberg Space Force Base in California. Planet has successfully made initial contact with the satellite and has begun the commissioning process. The stock was down 1.1% premarket.

Goldman Sachs raised its price target on Planet Labs from $20 to $22 while maintaining a Neutral rating, citing strong first-quarter revenue and EBITDA that beat consensus estimates driven by defense and intelligence growth. The firm noted the company also lifted its fiscal 2027 revenue and gross margin forecasts, though mid-term profitability remains uncertain. Separately, Planet Labs joined the Atmospheric Impact of Reentered Spacecraft initiative as a founding participant, contributing data to study how spacecraft reentry affects Earth's environment.

Seeking Alpha analysts Daniel Jones and Petri Dish Reports shared their views on the best space stock plays. Daniel Jones favors Iridium Communications among satellite prospects, but picks Amazon as his top space-oriented company, citing its acquisition of Globalstar at $90 per share and plans for a next-generation direct-to-device satellite system starting in 2028 that could tap a $1.61 trillion broadband and mobile services opportunity. Petri Dish Reports recommends diversifying across space niches, highlighting Earth observation and space surveillance with Planet Labs and BlackSky, launch and satellite services with Rocket Lab, defense-adjacent hypersonics and propulsion with Kratos Defense & Security Solutions, and space infrastructure with Intuitive Machines.

Planet Labs reported record first-quarter fiscal 2027 revenue of $94.15 million, up 42% year-over-year, with a GAAP gross margin of 54% and a non-GAAP gross margin of 56%. The company’s backlog exceeded $906 million, a 72% increase, and remaining performance obligations reached $816.01 million, up 81%, driven by contracts including a €240 million German government deal and Sweden’s first sovereign reconnaissance satellite. Planet Labs delivered its first full year of profitability in fiscal 2026 with $52.87 million in free cash flow and $15.49 million in adjusted EBITDA, and it guided for fiscal 2027 revenue between $425 million and $441 million with continued adjusted EBITDA profit. In contrast, competitor BlackSky posted a 29.7% revenue decline to $20.77 million and negative operating cash flow of $2.36 million in its first quarter of 2026.

Planet Labs shares surged 15.55% in a single session, joining a broader space-sector rally sparked by Rocket Lab's $8 billion cash-and-stock deal to acquire Iridium Communications. The transaction, announced on June 29, valued Iridium at a 24% premium and sent Rocket Lab up 15.93% and Iridium up 25.44%, reversing a recent 30–45% slump in space stocks after SpaceX's IPO. Planet Labs, which operates a large Earth-observation satellite fleet, reported April-quarter revenue of $94.15 million, up 42% year-over-year, and holds a backlog of roughly $906 million, up about 72% year-over-year. The company also secured a one-year $22 million option under the National Geospatial-Intelligence Agency's Luno B framework for maritime domain awareness and is preparing to launch its Pelican 11 tech-demo satellite on a SpaceX mission. Analysts have a Moderate Buy consensus rating on Planet Labs with an average price target of $41.00, implying roughly 23.76% upside, and the company guided second-quarter revenue between $102 million and $107 million, suggesting around 42% year-over-year growth.

StockStory highlights two cash-heavy stocks with exciting potential and one to avoid. Planet Labs, with a net cash position of $242.8 million, is backed for its 143% average backlog growth over two years and 48.9% annual earnings per share growth. QuinStreet, holding $93.63 million in net cash, posted 47.2% annual revenue growth and 628% annual earnings per share growth over the same period. In contrast, Old Dominion Freight Line, despite a $248.1 million net cash position, faces declining unit sales, falling earnings per share, and waning returns on capital, leading StockStory to urge caution.

Planet Labs reported record quarterly revenue of about US$94 million, up 42% year-over-year, for the quarter ended April 30, 2026, with backlog above US$906 million. The company ended the period with cash and short-term investments up 223% year-over-year to roughly US$731 million and raised full-year revenue guidance to approximately US$425–441 million. Planet Labs operates a large fleet of imaging satellites, selling daily Earth imagery and AI-enabled analytics by subscription to government, defense, agriculture, energy, and other customers. The Earth-observation data layer is a distinct, subscription-driven market that benefits from cheaper launch costs, and other listed names in the field include Satellogic and BlackSky.

SpaceX, Rocket Lab, AST SpaceMobile, and Planet Labs are riding the booming space economy, but investors are shifting attention to infrastructure, satellite connectivity, and recurring space-based data revenue amid a costly and risky launch market.

Planet Labs secured two National Geospatial-Intelligence Agency milestones, including a one-year, $22 million extension under the Luno B IDIQ contract for AI-enabled Maritime Domain Awareness and a new Global Monitoring Service award with NGA and the Defense Innovation Unit. The company also reported fiscal first-quarter 2027 revenue of $94.2 million, up 42% year over year, while backlog rose 72% to more than $906 million and remaining performance obligations increased 81% to $816 million. The awards demonstrate government demand moving beyond satellite imagery into recurring analytics, change detection, and crisis-response monitoring, allowing Planet to sell higher-value services from its existing constellation and data archive. The revenue growth is supported by contract visibility, not only future satellite ambition.

While SpaceX dominates headlines after its blockbuster IPO, four smaller public space companies are doing measurable work that merits attention. Rocket Lab is becoming a full-stack space systems builder after acquiring Motiv Space Systems and announcing solar arrays for space-based data centers, though it remains unprofitable with its Neutron rocket still in development. Planet Labs partnered with Anthropic to feed its satellite imagery into the Claude AI model, aiming to become an intelligence platform, and reached non-GAAP profitability for the first time in fiscal 2026. Intuitive Machines won a $180.4 million NASA contract for lunar south pole payloads and became prime contractor for the Lunar Reconnaissance Orbiter Camera, while a proposed 124% increase in the Space Force budget for fiscal 2027 could change its risk profile. Redwire, a pick-and-shovel play making components like solar arrays and sensors, landed a classified national security solar array deal with Moog and an Air Force Research Laboratory contract, though it missed first-quarter 2026 EPS estimates and is betting on long-term scale.