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Delayed Nyse  -  01:00 2022-11-25 pm EST
5.330 USD   -0.56%
11/17Planet to Announce Fiscal Third Quarter 2023 Results on Wednesday, December 14, 2022
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11/15Microsoft and Planet Expand Partnership to Provide AI and Satellite Data for African Climate Adaptation Projects
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Planet Announces New Details of Hyperspectral Offering

09/19/2022 | 09:09am EST

Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced new details of its commercial hyperspectral constellation, which is being brought to market through a first-of-its-kind public-private partnership with the Carbon Mapper Coalition. The future hyperspectral satellites will be named Tanager, a colorful and visually diverse family of birds in Central and South America, and are designed to deliver hyperspectral data at a resolution of 30 meters with over 400 spectral bands.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220919005310/en/

Tanager rendering. © 2022, Planet Labs PBC. All Rights Reserved.

Tanager rendering. © 2022, Planet Labs PBC. All Rights Reserved.

In combination with Planet’s existing medium (3-5 meter resolution, Dove) and high-resolution (<1 meter resolution, SkySat and future Pelican) constellations, the hyperspectral data provided by the Tanager satellites aims to complement and enhance Planet’s unprecedented dataset. Tanager is a family of birds who, similar to our planet, are threatened with endangerment if we don’t take substantive and data-backed action to protect ecosystems and resources. By helping to identify the spectral “signatures” of chemicals, materials, and processes across the globe, hyperspectral data can reveal otherwise hidden trends and could fill intelligence gaps and mitigate risks by exposing these challenges to decision makers.

Hyperspectral imaging offers a vast array of spectral insights as it divides the spectrum across a multitude of spectral bands, enabling analysts to review phenomena in many differentiated colors that are typically beyond human visual perception. The goal of Planet’s hyperspectral offering is to help customers reveal social, environmental, and climate risks in unprecedented detail and demonstrates Planet’s commitment to preserve biodiversity and to accelerate action on climate change as a part of the Carbon Mapper Coalition. ASU’s Center for Global Discovery and Conservation Science will also play a key role in the Carbon Mapper mission performing additional scientific research on hyperspectral applications.

With plans to launch the first two Tanager satellites in 2023, hyperspectral data holds immense potential to support applications in industries like agriculture, defense & intelligence, energy, civil government, and mining. The genesis of the Carbon Mapper initiative came from a need to use high quality hyperspectral data to locate methane point source emitters at the facility scale to support mitigation action. As part of the coalition, Planet remains committed to the public benefit mission of pinpointing, quantifying and tracking point-source methane and CO2 emissions, while also leveraging the technology’s other applications made possible with hyperspectral data to deliver additional value to its customers.

Beyond offering methane and CO2 signatures, Planet’s commercial hyperspectral offering looks to provide customers with data for dozens of other environmental applications and indicators that are needed to closely monitor the health of the planet. The satellites’ hyperspectral sensor technology, pioneered by NASA Jet Propulsion Laboratory (NASA JPL), will provide 30m resolution and a full spectral range of shortwave infrared and high-precision 5nm wide bands; this hyperspectral offering is designed to help organizations understand changes on land and at sea, from coastal zones to forests to urban areas and more.

As influential leaders meet this week to discuss a range of topics from the impact of infrastructure and buildings on our environment to how global food industries can cut greenhouse gas emissions to the importance of preserving and restoring the Earth’s ecosystems and biodiversity - it’s more critical than ever that businesses innovate and governments implement effective policies. These parties need targeted, actionable information as rapidly as possible and hyperspectral data can provide that critical intelligence layer. Sign up to receive updates on Planet’s hyperspectral commercial offering here.

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 Earth observation fleet of imaging satellites, capturing over 30 TB of data per day. Planet provides mission-critical data, advanced insights, and software solutions to over 800 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 trading on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on Twitter.

Forward-looking Statements

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company’s ability to successfully design, build, launch and deploy, operate and market new products and satellites 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. Forward-looking statements are based on the Company’s management’s beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future events and results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to obtain and maintain required licenses and approvals from regulatory agencies, such as the Federal Communications Commission (FCC), in a timely fashion, or at all; whether the Company will be able to successfully build, launch and deploy or operate its satellites, including new satellites either as designed, in a timely fashion or at all; the Company’s ability to develop and release product and service enhancements to respond to rapid technological change, or to develop new designs and technologies for its satellites, in a timely and cost-effective manner; whether the Company will be able to continue to invest in scaling its sales organization, expanding its software engineering (including its ability to integrate new satellite capabilities) and marketing capabilities; whether the Company will be able to accurately predict and capture market opportunity; whether current customers or prospective customers adopt the Company’s platform or new products; the Company’s ability realize any of the potential benefits from new products and satellites, as well as strategic partnerships and customer collaborations; and the risk factors and other disclosures about the Company and its business included in the Company's periodic reports, proxy statements, and other disclosure materials filed from time to time with the Securities and Exchange Commission (SEC) which are available online at www.sec.gov, and on the Company's website at www.planet.com. All forward-looking statements reflect the Company’s beliefs and assumptions only as of the date such statements are made. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

ę Business Wire 2022
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Financials (USD)
Sales 2023 187 M - -
Net income 2023 -154 M - -
Net cash 2023 202 M - -
P/E ratio 2023 -8,41x
Yield 2023 -
Capitalization 1 439 M 1 439 M -
EV / Sales 2023 6,61x
EV / Sales 2024 4,96x
Nbr of Employees 750
Free-Float 90,1%
Duration : Period :
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Mean consensus BUY
Number of Analysts 8
Last Close Price 5,33 $
Average target price 9,38 $
Spread / Average Target 75,9%
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Managers and Directors
William S. Marshall Chairman & Chief Executive Officer
Ashley Whitfield Fieglein Johnson Chief Financial & Operating Officer
Carl Bass Lead Independent Director
Ita M. Brennan Independent Director
Niccolo M. de Masi Independent Director
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