Planet Labs Secures $22 Million NGA Contract Extension
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Source: seekingalpha
- Contract Extension: Planet Labs Federal has secured a one-year, $22 million contract extension from the U.S. National Geospatial-Intelligence Agency (NGA), ensuring a continued revenue stream in maritime surveillance services.
- New Contract Award: The company was also awarded a new contract by the NGA in partnership with the Defense Innovation Unit to provide its Global Monitoring Service, leveraging satellite imagery and analytics to support crisis response, thereby expanding its business scope.
- Maritime Services: Under the Luno B contract extension, Planet Labs will continue to deliver maritime domain awareness services, including the detection of ship-to-ship transfers, enhancing its competitive position in the maritime monitoring market.
- Strategic Collaboration: This contract win not only solidifies Planet Labs' partnership with the NGA but also showcases its technological capabilities in crisis response monitoring, potentially paving the way for more contract opportunities in the future.
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Analyst Views on PL
Wall Street analysts forecast PL stock price to fall
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 43.130
Low
12.30
Averages
18.93
High
22.00
Current: 43.130
Low
12.30
Averages
18.93
High
22.00
About PL
Planet Labs PBC is a provider of global, daily satellite imagery and geospatial solutions. It designs, builds, and operates the earth observation fleet of imaging satellites. It provides mission-critical data, advanced insights, and software solutions comprising agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to derive value from satellite imagery. Its satellite data and analytics reveal actionable insights regarding phenomena, such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Its daily stream of proprietary data and machine learning analytics, delivered over its cloud-native platform, helps companies, governments and civil society use satellite imagery to discover insights as change happens. Its digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics. Its products include Planet Monitoring, Planet Tasking, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Planet Labs to Announce Q1 Earnings on June 4th
- Earnings Announcement Schedule: Planet Labs is set to release its Q1 2023 earnings report on June 4th after market close, with consensus EPS estimate at -$0.04 and revenue expected at $90.13 million, reflecting a 36% year-over-year growth.
- Historical Performance: Over the past two years, Planet Labs has exceeded EPS estimates 88% of the time and revenue estimates 63% of the time, indicating a relatively stable performance during earnings announcements.
- Expectation Revision Dynamics: Despite no upward revisions in EPS estimates over the last three months and five downward revisions, revenue estimates have seen nine upward revisions, suggesting ongoing market confidence in the company's future revenue growth.
- Market Risk Assessment: While Planet Labs is viewed as a long-term buy opportunity, recent market sentiment indicates a risk/reward skewed to the downside, particularly as other space stocks have declined following the Blue Origin rocket explosion.
See More
Planet Labs Secures $22 Million NGA Contract Extension
- Contract Extension: Planet Labs Federal has secured a one-year, $22 million contract extension from the U.S. National Geospatial-Intelligence Agency (NGA), ensuring a continued revenue stream in maritime surveillance services.
- New Contract Award: The company was also awarded a new contract by the NGA in partnership with the Defense Innovation Unit to provide its Global Monitoring Service, leveraging satellite imagery and analytics to support crisis response, thereby expanding its business scope.
- Maritime Services: Under the Luno B contract extension, Planet Labs will continue to deliver maritime domain awareness services, including the detection of ship-to-ship transfers, enhancing its competitive position in the maritime monitoring market.
- Strategic Collaboration: This contract win not only solidifies Planet Labs' partnership with the NGA but also showcases its technological capabilities in crisis response monitoring, potentially paving the way for more contract opportunities in the future.
See More
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- Contract Extension: Planet Labs Federal, Inc. has secured a $22 million contract extension from the NGA, ensuring continued access to Maritime Domain Awareness (MDA) solutions across multiple Combatant Commands, thereby enhancing U.S. maritime monitoring capabilities.
- Global Monitoring Service: The new contract will provide the U.S. government with near-daily change detection and situational awareness, utilizing Planet's SuperDove satellite constellation and AI analytics to ensure decision-makers can quickly access critical information, improving national security decision-making efficiency.
- Technological Innovation: Planet's solutions facilitate automated detection of strategic and tactical maritime events, aiding the NGA in delivering high-quality, unclassified commercial data and analytics, modernizing intelligence acquisition to ensure rapid responses in complex geopolitical environments.
- Market Positioning: These contracts illustrate the U.S. government's emphasis on integrating agile commercial space capabilities, with Planet's
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- Technology Testbed: Pelican-11 will serve as a testbed for new technologies, and while it is not expected to produce commercially available data, the information it gathers will inform future Pelican designs, thereby advancing the company's capabilities in high-resolution imaging.
- Market Demand Response: Planet plans to launch additional Pelican satellites in 2026 and 2027 to meet the rising global demand for sovereign satellite ownership and high-resolution data products, demonstrating the company's keen responsiveness to market dynamics.
- Company Background: As a leading provider of global satellite imagery and geospatial solutions, Planet Labs has been committed to imaging the world daily since its founding in 2010, serving various sectors including agriculture, forestry, intelligence, education, and finance, showcasing its leadership in the commercial Earth observation space.
See More
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- Innovative Business Portfolio: With three core businesses in rocket launches, satellite internet, and artificial intelligence, SpaceX appeals to investors seeking high growth, enhancing its attractiveness in the competitive tech landscape.
- ETF Investment Opportunities: Investors can mitigate risk by purchasing exchange-traded funds (ETFs) focused on the space economy, such as Ark Space & Defense Innovation ETF and Procure Space ETF, which may quickly accumulate SpaceX shares post-IPO, providing indirect exposure to the company.
- Strong Market Performance: The Ark Space & Defense ETF has surged 175% over the past three years, while the Procure Space ETF has skyrocketed by 250%, both significantly outperforming the S&P 500, indicating robust demand and investor optimism in the space sector.
See More
SpaceX IPO Sparks Investor Excitement
- Market Valuation Expectations: SpaceX is planning an IPO with a target valuation of nearly $2 trillion, which, if successful, would become the largest IPO in history, drawing significant investor interest and anticipation.
- Diverse Technology Appeal: With involvement in rocket launches, satellite internet, and artificial intelligence, SpaceX's growth potential across these high-tech sectors makes it a popular choice for investors seeking high returns, albeit with associated risks.
- ETF Investment Opportunities: The Ark Space & Defense Innovation ETF and Procure Space ETF may be among the first funds to invest in SpaceX shares, with the former rising 175% over the past three years and the latter achieving a 250% increase, reflecting strong interest in the space economy.
- Risk Management Strategy: By investing in ETFs instead of directly purchasing SpaceX shares, investors can mitigate risks as ETFs diversify investments across multiple related stocks, providing protection when individual stocks underperform while benefiting from overall market growth.
See More
Planet Labs to Announce Q1 Earnings on June 4th
- Earnings Announcement Schedule: Planet Labs is set to release its Q1 2023 earnings report on June 4th after market close, with consensus EPS estimate at -$0.04 and revenue expected at $90.13 million, reflecting a 36% year-over-year growth.
- Historical Performance: Over the past two years, Planet Labs has exceeded EPS estimates 88% of the time and revenue estimates 63% of the time, indicating a relatively stable performance during earnings announcements.
- Expectation Revision Dynamics: Despite no upward revisions in EPS estimates over the last three months and five downward revisions, revenue estimates have seen nine upward revisions, suggesting ongoing market confidence in the company's future revenue growth.
- Market Risk Assessment: While Planet Labs is viewed as a long-term buy opportunity, recent market sentiment indicates a risk/reward skewed to the downside, particularly as other space stocks have declined following the Blue Origin rocket explosion.
See More
Planet Labs Secures $22 Million NGA Contract Extension
- Contract Extension: Planet Labs Federal has secured a one-year, $22 million contract extension from the U.S. National Geospatial-Intelligence Agency (NGA), ensuring a continued revenue stream in maritime surveillance services.
- New Contract Award: The company was also awarded a new contract by the NGA in partnership with the Defense Innovation Unit to provide its Global Monitoring Service, leveraging satellite imagery and analytics to support crisis response, thereby expanding its business scope.
- Maritime Services: Under the Luno B contract extension, Planet Labs will continue to deliver maritime domain awareness services, including the detection of ship-to-ship transfers, enhancing its competitive position in the maritime monitoring market.
- Strategic Collaboration: This contract win not only solidifies Planet Labs' partnership with the NGA but also showcases its technological capabilities in crisis response monitoring, potentially paving the way for more contract opportunities in the future.
See More
Planet Labs Secures Key Contracts with NGA for Enhanced Global Security
- Contract Extension: Planet Labs Federal, Inc. has secured a $22 million contract extension from the NGA, ensuring continued access to Maritime Domain Awareness (MDA) solutions across multiple Combatant Commands, thereby enhancing U.S. maritime monitoring capabilities.
- Global Monitoring Service: The new contract will provide the U.S. government with near-daily change detection and situational awareness, utilizing Planet's SuperDove satellite constellation and AI analytics to ensure decision-makers can quickly access critical information, improving national security decision-making efficiency.
- Technological Innovation: Planet's solutions facilitate automated detection of strategic and tactical maritime events, aiding the NGA in delivering high-quality, unclassified commercial data and analytics, modernizing intelligence acquisition to ensure rapid responses in complex geopolitical environments.
- Market Positioning: These contracts illustrate the U.S. government's emphasis on integrating agile commercial space capabilities, with Planet's
See More
Planet Labs Launches Next-Gen Satellite Pelican-11
- Pelican-11 Launch Prep: Planet Labs announced that its second-generation high-resolution satellite, Pelican-11, has been shipped to Vandenberg Space Force Base in California, set to launch aboard SpaceX's Transporter-17 mission, highlighting the company's ongoing innovation in satellite technology.
- Technology Testbed: Pelican-11 will serve as a testbed for new technologies, and while it is not expected to produce commercially available data, the information it gathers will inform future Pelican designs, thereby advancing the company's capabilities in high-resolution imaging.
- Market Demand Response: Planet plans to launch additional Pelican satellites in 2026 and 2027 to meet the rising global demand for sovereign satellite ownership and high-resolution data products, demonstrating the company's keen responsiveness to market dynamics.
- Company Background: As a leading provider of global satellite imagery and geospatial solutions, Planet Labs has been committed to imaging the world daily since its founding in 2010, serving various sectors including agriculture, forestry, intelligence, education, and finance, showcasing its leadership in the commercial Earth observation space.
See More
SpaceX IPO Could Be the Largest Ever
- Near $2 Trillion Valuation: SpaceX's upcoming IPO is projected to approach a staggering valuation of nearly $2 trillion, potentially making it the largest IPO in history, which has garnered significant investor interest and reflects strong market confidence in its growth prospects.
- Innovative Business Portfolio: With three core businesses in rocket launches, satellite internet, and artificial intelligence, SpaceX appeals to investors seeking high growth, enhancing its attractiveness in the competitive tech landscape.
- ETF Investment Opportunities: Investors can mitigate risk by purchasing exchange-traded funds (ETFs) focused on the space economy, such as Ark Space & Defense Innovation ETF and Procure Space ETF, which may quickly accumulate SpaceX shares post-IPO, providing indirect exposure to the company.
- Strong Market Performance: The Ark Space & Defense ETF has surged 175% over the past three years, while the Procure Space ETF has skyrocketed by 250%, both significantly outperforming the S&P 500, indicating robust demand and investor optimism in the space sector.
See More
SpaceX IPO Sparks Investor Excitement
- Market Valuation Expectations: SpaceX is planning an IPO with a target valuation of nearly $2 trillion, which, if successful, would become the largest IPO in history, drawing significant investor interest and anticipation.
- Diverse Technology Appeal: With involvement in rocket launches, satellite internet, and artificial intelligence, SpaceX's growth potential across these high-tech sectors makes it a popular choice for investors seeking high returns, albeit with associated risks.
- ETF Investment Opportunities: The Ark Space & Defense Innovation ETF and Procure Space ETF may be among the first funds to invest in SpaceX shares, with the former rising 175% over the past three years and the latter achieving a 250% increase, reflecting strong interest in the space economy.
- Risk Management Strategy: By investing in ETFs instead of directly purchasing SpaceX shares, investors can mitigate risks as ETFs diversify investments across multiple related stocks, providing protection when individual stocks underperform while benefiting from overall market growth.
See More
