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News  ›  Benzinga

Planet Labs Shares Jump Following 9-Figure Deal With Sweden

Benzinga Logo Benzinga By Dylan Berman
Planet Labs Shares Jump Following 9-Figure Deal With Sweden

Planet Labs announced a multi-year nine-figure satellite services agreement with Sweden's Armed Forces, marking its third major satellite services contract in 12 months. The company has now signed over $500 million in satellite services contracts in the past year, including deals with Japan and Germany. Planet Labs shares jumped approximately 6.69% on the news.

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The company secured a significant nine-figure multi-year contract with Sweden, representing its third major satellite services deal in 12 months. This demonstrates strong market demand for its services, validates its business model, and contributed to a 6.69% stock price increase. The cumulative $500 million in contracts over the past year signals sustained growth and confidence from government customers.