Highlights

  • Planet Labs shares climbed 38% for the week ended December 11, 2025.
  • Q3 revenue rose 33% with a third consecutive quarter of positive free cash flow.
  • Multiple U.S. government and NATO contracts supported backlog expansion.

Planet Labs (NYSE:PL) saw its shares rise 38% for the week ended December 11, 2025. The increase followed the company’s third-quarter earnings release on Wednesday. The Earth observation and data provider reported revenue growth of 33% and its third consecutive quarter of positive free cash flow. The results were supported by a growing contract pipeline and a backlog that more than tripled compared to the previous year.

The company noted faster growth across key operational areas. While civil government revenue grew only 1% due to the U.S. government shutdown, the defense and intelligence unit reported a 70% increase. This segment contributed significantly to the company’s performance during the quarter.

Contract Wins and Satellite Deployment

Planet Labs secured several notable awards during Q3. These included a USD 12.8 million award from the National Geospatial-Intelligence Agency, a USD 13.2 million renewal from the National Reconnaissance Office, a USD 13.5 million order from NASA, and a USD 7.5 million renewal from the U.S. Navy. The company also received a seven-figure expansion from NATO. These contract values stand out given Planet Labs' Q3 revenue of USD 81.3 million.

The company advanced its satellite fleet during the quarter. It successfully launched two Pelican satellites and 36 SuperDoves into orbit. Planet Labs now has five Pelican satellites in operation. The Pelican series features Nvidia’s Jetson AI platform. The onboard AI enables the satellites to filter data and transmit only relevant insights, helping reduce processing time and associated costs.

Strategic Partnerships and Technology Roadmap

Planet Labs also announced a collaboration with Alphabet’s Google to deploy prototype satellites in 2027. These satellites will use Google’s Tensor Processing Units. The initiative demonstrates the company’s ongoing focus on next-generation capabilities. The concept of processing data in orbit continues to attract industry attention, and the partnership reflects the expanding role of satellite-based analytics.

The week’s stock movement followed these developments, along with the company’s operational progress. The results and contract activity contributed to the increased attention on Planet Labs during the period.

Shares of PL closed at USD 17.485 on December 11, 2025, up around 35%.