Planet Labs Lands Nine-Figure Swedish Defense Deal, Reports Record $81M Q3 Revenue

PLPL

Planet Labs secured a nine-figure multiyear contract with Sweden's Armed Forces and generated record Q3 revenue of $81 million with a $734 million backlog up 216% year-over-year, achieving positive adjusted EBITDA despite ongoing GAAP losses. Shares have climbed 468% year-over-year, reflecting investor enthusiasm for government contracts and improving EBITDA.

1. Fiscal Fourth Quarter and Full Year 2026 Results Announcement

Planet Labs PBC said it will release its fiscal fourth quarter and full year financial results for the period ended January 31, 2026 after market close on Thursday, March 19, 2026. Management will hold a conference call at 5:00 p.m. Eastern Time to review performance and outline its outlook. Investors can access the live webcast via the company’s Investor Relations website, with an archived replay available approximately two hours after the event’s conclusion.

2. Record Q3 Revenue and Backlog Growth

In its most recent quarterly report, Planet Labs delivered a record Q3 revenue of $81 million, marking a year-over-year increase of more than 50%. The company’s contract backlog expanded by 216% compared to the prior year, reaching $734 million. Over 80% of those commitments are multiyear agreements, reflecting growing demand from agriculture, forestry, intelligence and defense customers for daily satellite imagery and analytics.

3. Major Government Contracts Fueling Momentum

Planet secured a nine-figure, multiyear contract with Sweden’s Armed Forces – its third major government deal in the past 12 months – strengthening its presence in defense and national security markets. The deal underscores widening adoption of real-time Earth observation across military and climate monitoring use cases, as well as the value of Planet’s AI-ready data products in mission-critical applications.

4. Stock Performance, Profitability and Risk Factors

Over the past year, Planet’s share count has surged by more than 400%, driven by robust revenue growth and strategic contract wins. Adjusted EBITDA turned positive in the latest quarter, although the company remains unprofitable on a GAAP basis. Investors should weigh the benefits of a recurring-revenue model against satellite build-and-launch costs, customer concentration risk in large government programs and potentially slow enterprise sales cycles.

Sources

FZB