Planet Labs launches three more Pelican satellites as $900M backlog and defence contracts drive first profitable year

"Planet Labs launched three additional Pelican high-resolution satellites on May 3, bringing the constellation to nine spacecraft. The company is building toward 32 satellites capable of imaging any point on Earth up to 30 times daily at 30-centimetre resolution."

"The launch is a milestone, but the real story is what Planet is building with these satellites and the value of that capability to governments, militaries, and enterprises needing near real-time monitoring of the planet."

"Planet Labs became the first New Space company to turn profitable on both an annual EBITDA and free cash flow basis in late 2025, reporting a revenue of $81.3 million in its fiscal third quarter of 2026."

Planet Labs launched three Pelican satellites on May 3, increasing its fleet to nine. The company aims to build a constellation of 32 satellites capable of imaging any point on Earth up to 30 times daily at 30-centimetre resolution. Planet Labs is the first New Space company to achieve profitability, with a backlog of $900 million driven by defense contracts. The satellites utilize Nvidia's Jetson AI for onboard data processing, enhancing their analytical capabilities. Revenue for fiscal year 2027 is projected to be between $415 million and $440 million, reflecting significant growth.

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