Latest news with #GreekNationalSmallSatProgramme
Yahoo
24-03-2025
- Business
- Yahoo
Why Planet Labs Stock Bounced Back Monday
Planet Labs (NYSE: PL) stock tumbled 11% through the closing bell Friday after "missing" on its fiscal Q4 2025 earnings report and guiding investors to expect further misses throughout fiscal 2026 (which, by the company's calendar, is this year). Shares of the tiny space company, which operates the world's biggest constellation of Earth observation satellites, bounced back Monday morning, however. Gaining 10% through 10:25 a.m. ET, Planet stock has recovered almost all of Friday's losses after announcing a big deal with the European Space Agency. Planet describes the ESA contract as signed between the space agency itself "on behalf of the Hellenic Ministry of Digital Governance" and aiming "to support the Greek National SmallSat Programme" by complementing Greece's own satellite systems. The nation's Hellenic Space Center will coordinate distribution of satellite data from Planet within Greece, "optimizing tasking capabilities, and ensuring seamless integration across the downstream projects of the national satellite program." In essence, therefore, it appears that Planet has signed an agreement directly with the Greek government to provide data that the government can use. The program will be funded by the European Union Recovery and Resilience Fund (RRF) Greece 2.0, which provides funding to Greece in the form of both loans and grants. Today's contract demonstrates continued demand for Planet's services around the world, albeit it doesn't yet give investors confidence that these services will turn profitable anytime soon. Planet did not disclose the size of its contract with the ESA on Greece's behalf, nor state whether it would be profitable. Losses at the company continue to shrink, and cash burn rates are slowing as well. Still, absent a dramatic increase in revenue that permits the company to scale up faster and improve its profit margins further, analysts polled by S&P Global Market Intelligence forecast the company will not turn profitable before 2029 at the earliest. This means it's hard recommending Planet Labs stock as a "buy" with profits today looking still so far away. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $305,226!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $41,382!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $517,876!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of March 24, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Planet Labs Stock Bounced Back Monday was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Planet Signs Deal with European Space Agency, Enabling Greek Government to Expand National Space Services
SAN FRANCISCO, March 24, 2025--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced that they have signed a new contract with the European Space Agency on behalf of the Hellenic Ministry of Digital Governance to support the Greek National SmallSat Programme, funded by the Recovery and Resilience Fund (RRF) Greece 2.0. Using Planet's commercial satellite data, Greece aims to inform and complement the development of their national satellite technology. Through this contract, Greece will leverage the company's PlanetScope data to support the development of future downstream services for their national satellite data program, enable technological development, and serve as a complementary data source to their national satellite data feeds. "The Hellenic Space Center (HSC) is coordinating the provision of Planet's satellite data, optimizing tasking capabilities, and ensuring seamless integration across the downstream projects of the national satellite program," said Dimitris Bliziotis, Earth Observation Officer of HSC. "We are living through a global space renaissance where governments and commercial providers are working hand-in-hand to develop new innovation," said Martin Polak, Planet's Senior Director of Government Sales in EMEA. "We're honored to have signed this contract to inform the new development of Greece's national space services." The company's PlanetScope satellite data provides a near-daily scan of all of Earth's landmass at 3 meter resolution. With this high-cadence capture and broad area coverage, Planet offers a robust historical archive of Earth observation data, dating back over a decade, which can enable better, faster decision making by international governments and businesses worldwide. "Access to Planet's satellite data will provide valuable data and insights for the development and validation of our national downstream services. This will accelerate innovation and will ensure the effective integration with data from our national space assets," said Professor Konstantinos Karantzalos, Secretary General of Telecommunications & Post, Ministry of Digital Governance. Planet has provided their unique satellite data and services to international governments around the globe, securing contracts with ESA's Third Party Mission programme, which has made this newest contract possible. They have also recently announced a contract with the Japanese Space Agency (through JSAT), to help provide satellite services and technological innovation. About Planet 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 Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to approximately 1,000 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 and follow us on X (formerly Twitter) or tune in to HBO's 'Wild Wild Space'. View source version on Contacts Planet PressLauren Neville Cottrellcomms@ Planet Investor RelationsCleo Palmer-Poronerir@
