Planet Labs PBC announced a multi-year low 9-figure agreement with the Swedish Armed Forces for satellite services.
This marks Planet's third major Satellite Services contract in twelve months, showcasing the demand for their innovative solutions.
Sweden will have access to cutting-edge satellites, data, and intelligence solutions from Planet, providing a cost-effective and fast pathway to advanced space capabilities.
Robust Demand for Planet's Solutions
Planet has signed over half a billion dollars in satellite services contracts in the last year, supporting national security needs.
Partnership with Sweden
Sweden's agreement with Planet reinforces the country's commitment to space capability, aiding in security objectives and assisting regional allies like Ukraine.
Commercial Revenue Recognition
Planet expects to recognize the commercial payments from partners as revenue over several years, leveraging the expanded fleet capacity.
- The agreement solidifies Planet's market leadership in the satellite services sector, with a focus on providing critical information for security operations.
- Planet's partnership with the Swedish Armed Forces demonstrates the increasing global demand for space-based hardware and software solutions.
Planet's agreement with Sweden reinforces their position as a leading provider of satellite services, showcasing their commitment to innovation and global partnerships.