Planet Labs signs $230M multi-year deal to build Pelican satellites for Asia-Pacific partner

Planet Labs PBC

$230M agreement with long-standing Asia-Pacific commercial partner to build and deliver Pelican high-res satellites and provide operational services.
Planet retains capacity on the satellites for its own government and commercial customers; largest contract in company history.
Revenue recognized over ~7 years; Q4 FY'25 guidance unchanged (Dec 9, 2024); deal expected to be cash flow accretive in FY'26.
Third strategic space systems partnership in four years, following Tanager (Carbon Mapper) and NASA CSP programs.

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