The geospatial data firm reported $94.2 million in Q1 revenue and a 72% backlog increase amid growing government demand for AI-driven analytics.
Planet Labs (PL) announced a $22 million contract extension with the National Geospatial-Intelligence Agency for AI-enabled Maritime Domain Awareness, alongside a new Global Monitoring Service award. The deals signal a shift toward recurring analytics and crisis-response services, leveraging its satellite constellation and data archive.
First-quarter fiscal 2027 revenue reached $94.2 million, up 42% year over year, while backlog surged 72% to $906 million. Remaining performance obligations climbed 81% to $816 million, underscoring contract visibility as a driver of growth beyond satellite expansion.
The company provides daily satellite imagery and geospatial analytics to government and commercial clients, positioning itself in higher-value data services amid rising demand.