Planet Labs (PL) Stock Lands European Defense Contract After NGA and Swedish Army Deals
TLDR
- Planet Labs secured a 7-figure, one-year contract with a European defense and intelligence customer
- The deal covers Planet Mosaics and professional services for operational planning
- The contract follows earlier 2026 deals with the NGA, Swedish Armed Forces, and Defense Innovation Unit
- Analysts hold a consensus “Hold” rating with an average price target of $35.36
- Latest quarterly revenue rose 42% year over year to $94.15 million, beating estimates
Planet Labs (NYSE: PL) has landed a new 7-figure, one-year contract with a European defense and intelligence customer, the company announced Thursday.
The deal will give the customer access to Planet Mosaics and dedicated professional services support for operational planning across land and maritime areas of interest.
Jon Powers, VP of Global Defense and Intelligence at Planet, said the agreement reflects growing demand for geospatial data and support services in these domains.
The stock was trading down around 2.60% on the day.
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