Planet Labs PBC (NYSE:PL) shares are trading higher Monday after the company announced a multi-year nine-figure agreement with the Swedish Armed Forces.
Sweden Agreement Signals Market Confidence
Planet said it signed a multi-year low nine-figure satellite services agreement with Sweden to deliver a suite of satellites, space-based data and intelligence solutions to support the country's peace and security operations. Under the agreement, Sweden will own a suite of Planet satellites and receive access to high-resolution data and awareness solutions.
The company said the deal marks its third major satellite services contract in the past 12 months, highlighting continued demand for its rapidly deployable space-based hardware and software offerings. Planet noted it has signed more than $500 million across three satellite services contracts over the past year, including agreements supporting national security needs in Japan and Germany.
Planet said the standardized satellite services model provides sovereign nations with a cost-effective and lower-risk approach to securing advanced space-based capabilities without the complexity of building standalone systems. The company added it expects to recognize commercial payments from the agreement as revenue over several years.
Planet said the agreement does not change its previously issued fourth-quarter financial guidance provided with its Dec. 10, 2025 earnings release. The company also said it plans to leverage expanded fleet capacity to serve government and commercial customers globally.
Planet Labs Stock Jumps In Early Trading
PL Price Action: At the time of writing, Planet Labs shares are trading 6.69% higher at $24.22, according to data from Benzinga Pro. Planet shares traded as high as $24.96 on Monday before giving back some gains.
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