Planet Labs launched three additional Pelican high-resolution satellites on 3 May, bringing the constellation to nine spacecraft. The company is building toward a 32-satellite fleet capable of imaging any point on Earth up to 30 times daily at 30 centimetre resolution.
What the Pelican constellation does
Each Pelican satellite captures imagery at 50 centimetre resolution across six multispectral bands. The satellites carry Nvidia's Jetson AI platform for onboard data processing, enabling them to analyse imagery before transmitting results to the ground. This reduces latency from hours to minutes for time-critical applications like maritime surveillance, disaster response, and military intelligence.
Planet plans to begin launching second-generation Pelicans later in 2026, with resolution improving to 30 centimetres. The full 32-satellite constellation will revisit any point on Earth up to ten times per day globally and up to 30 times at mid-latitudes.
Business model and financials
Planet Labs became the first New Space company to turn profitable on both an annual EBITDA and free cash flow basis in late 2025. In its fiscal third quarter of 2026, the company reported revenue of $81.3 million, a 33 per cent increase year on year. Revenue guidance for fiscal year 2027 is $415 million to $440 million. Total contract backlog reached $900 million by March 2026. More than 90 per cent of revenue comes from recurring subscriptions. Gross margins have expanded to 58 per cent.
The company does not sell individual satellite images. It sells subscriptions to a continuously updated data feed covering the entire planet. The earth observation market is being reshaped by AI companies that need planetary-scale data infrastructure, and Planet's constellation of more than 200 PlanetScope Dove satellites provides daily global coverage at 3.7 metre resolution. Pelican adds the high-resolution layer with taskable 50 centimetre imagery and onboard AI processing.
Defence and intelligence contracts
The defence and intelligence sector is driving Planet's most significant revenue growth. In 2025, the company signed a 240 million euro multi-year deal with the German government for dedicated Pelican satellite capacity over European regions, along with PlanetScope and SkySat data and AI-powered situational awareness tools. The US National Reconnaissance Office renewed its baseline contract for PlanetScope data under the Electro-Optical Commercial Layer programme and established a framework for ordering high-resolution Pelican imagery. The National Geospatial-Intelligence Agency awarded a $12.8 million contract for AI-enabled maritime domain awareness across the Asia-Pacific region. NATO selected Planet for a seven-figure persistent surveillance contract. NASA awarded a $13.5 million task order.
Competitive landscape
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