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Planet Labs announced its prototype satellite for Alphabet's Google has launched into orbit aboard SpaceX's Transporter-18 rideshare mission. The satellite is part of Google's Project Suncatcher, which tests Tensor Processing Units in space. This marks Planet Labs' 40th successful launch, bringing its total delivered satellites to 718. The company's shares rose 8.43% on Friday following the announcement. Planet Labs operates an Earth-imaging satellite constellation and provides Space Infrastructure as a Service. In its second quarter, Planet Labs reported record revenue of $116.1 million, up 58.1% year-over-year, though it remains loss-making with $0.03 per share losses. The company raised its fiscal 2027 revenue guidance to between $430 million and $441 million. Analysts rate the stock a "Moderate Buy" with a mean target price indicating 102.4% potential upside.

Planet Labs stock has fallen 49% in three months, trading at 16.6 times sales compared to 3.0 for the S&P 500. The satellite imagery company's revenue grew 58% year-on-year in fiscal Q2 2027, driven primarily by defense and intelligence customers, which saw over 90% growth. A significant portion of Q2's revenue came from delivering the first Pelican satellite to Swedish Armed Forces. This represented 12% of quarterly revenue, up from 1% a year earlier. Such sales are booked immediately upon delivery rather than through subscriptions. However, Planet's contracted work grew only 9% year-on-year at Q2's end, far slower than revenue growth. Management attributes this to delivering on larger contracts whilst exploring new markets with shorter pilot deals. The company has identified over $4 billion in potential opportunities, with more than 25% considered near-term. Planet forecasts fiscal Q3 revenue of $101 million to $105 million.

Planet launches Suncatcher, Tanager-2, and 18 superdove satellites. SAN FRANCISCO / Oct 01, 2026 / Business Wire / Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced the successful launch of 20 satellites: the first demo mission for Google's Project Suncatcher; Tanager-2, its latest hyperspectral satellite; and 18 SuperDoves. The spacecraft were launched to orbit aboard the Transporter-18 rideshare mission with SpaceX from Vandenberg Space Force Base in California. Planet has successfully made initial contact with Tanager-2, the Project Suncatcher prototype, and two SuperDoves and begun the commissioning process. Planet expects to make contact with the remaining 16 SuperDoves that will deploy on the D-Orbit ION orbital transfer vehicle on schedule. This marks Planet's 40th successful launch and a total of 718 satellites built and delivered on orbit. Developed in partnership with Google, the Project Suncatcher satellite will run the first-ever test of Google's Tensor Processing Units (TPUs) in space. The moonshot project is exploring the feasibility of running machine learning (ML) compute systems in-orbit. Developed in partnership with Carbon Mapper, Tanager-2 features best-in-class hyperspectral VSWIR (Visible, Near-infrared and Short-wave infrared) imaging capabilities. With a cutting-edge, adjustable sensitivity imaging spectroscopy payload onboard, Tanager is designed to capture imagery in 426 contiguous bands with ~5 nm spectral resolution at 30 m spatial resolution. This configuration makes Tanager an ideal sensor for detecting methane emissions and a myriad of hyperspectral applications such as rare-earth element (REE) identification, water quality analysis, and agricultural intelligence. Planet continues to work with Carbon Mapper to scale the fleet, with plans to build and deploy at least three additional Tanager satellites following Tanager-2. The 18 SuperDoves of Flock 4J will supplement PlanetScope, Planet's flagship near-daily, global monitoring mission, which provides consistent global coverage across millions of square kilometers for customers in commercial enterprise, civil government, and defense and intelligence sectors. With more launches ahead, Planet continues to expand its constellations to meet global customer demand across satellite services, data and vertically-integrated geospatial intelligence solutions, and more. To learn more about Planet's industry-leading capabilities, visit https://www.planet.com/constellation-services/. About Planet Labs PBC Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest commercial Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world's leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow Green Stock News LLC on X, LinkedIn, or tune in to HBO's 'Wild Wild Space'. Forward-looking Statements Certain statements contained in this press release are "forward-looking statements" about Planet within the meaning of the securities laws, including statements about the expansion of the high resolution capacity of Planet's fleet, the delivery of such capacity to Planet customers, and the Company's ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements, including risks related to the macroeconomic environment. Such factors are detailed in Planet's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law. Plug into more green Stock news. Tap into the pulse of emerging green sectors every morning. Top daily headlines from clean energy, cleantech, cannabis, and sustainable transport stocks: