San Francisco, May 10, 2026, 07:04 PDT
Planet Labs PBC shot up 10.8% in the latest session after its German subsidiary landed a two-year, seven-figure deal to provide satellite data for Greece’s National Satellite Space Project. According to the company, the contract was secured via the European Space Agency, acting for the digital governance ministry and the Hellenic Space Center in Greece.
This shift is catching investors’ attention, with many watching for government buyers to step up from one-off trials to ongoing, operational spending on Earth observation — the satellite imagery and data sector. Planet’s new agreement with Greece takes what was previously a pilot program and turns it into a nationwide monitoring contract.
This comes ahead of Planet’s upcoming earnings. The company is set to announce fiscal Q1 2027 numbers for the quarter that wrapped up April 30 after markets shut on June 4. Management will go over the outlook later that day.
Planet wrapped up Friday at $39.04, with shares moving from as low as $35.81 to as high as $39.82. Roughly 12.9 million shares changed hands. The most recent market cap came in near $12.1 billion.
Under the Greek contract, government agencies will tap into over 10 years of PlanetScope images, pulling from near-daily medium-res shots plus on-demand high-res satellite tasking—so users can target sharper views where they need them. Planet says its imagery will aid in tracking forests, monitoring water, managing land, and disaster prep.
Dimitris Bliziotis, Earth Observation Officer at the Hellenic Space Center, described the agreement as bolstering “national safety and environmental resilience,” adding that it would offer policymakers more “near-real-time insights.” Greece is shifting out of the pilot stage and into a full-scale monitoring contract, according to Diego Vanelli, Planet’s director of government sales in EMEA, who described Planet as the “foundational data partner” for the project. Business Wire
Planet’s latest win comes on the heels of a solid fiscal year. Back in March, the company posted record revenue—$307.7 million for the year, marking a 26% jump. Backlog surged, too, climbing 79% to over $900 million. For the first time, Planet logged a full fiscal year of adjusted EBITDA profit, excluding interest, taxes, depreciation, and amortization.
Will Marshall, the company’s Chief Executive, flagged satellite services as a standout for the year in the results release, highlighting Sweden, 40 satellite launches, and a Google research partnership. He also pointed to artificial intelligence as something he expects to be “transformative this year”—a statement the market will be measuring against upcoming contract wins and margins. Business Wire
The field isn’t getting any quieter. On May 7, BlackSky Technology—also listed in the U.S.—announced a haul of new contracts worth as much as $160 million, bumping up its full-year projections. The company cited expanding demand from government and defense buyers turning to commercial satellite intelligence.
The headline number isn’t especially clear—“seven-figure” leaves a lot of room, and Planet kept the actual total under wraps. The company notes that its backlog isn’t guaranteed money in the door; government deals can be canceled or hinge on available funding. Business Wire
The Greece award is being seen as fresh evidence of Planet’s strategy to win over public-sector customers for its data subscriptions and satellite services. June is where it counts: investors want to see whether these types of deals actually move the needle on revenue, guidance, and cash, not just on the share price.
