Despite Government Contract Optimism, Space Data Stocks Decline by 5%

Planet Labs PBC (NYSE: PL), a U.S. satellite imagery company, closed at $22.79 on the New York Stock Exchange, down 5.2% for the day. Its market capitalization stands at approximately $7.1 billion (about KRW 9 trillion), with today’s drop wiping out roughly $350 million (around KRW 460 billion) in value. Trading volume was about 3.87 million shares.

Recently, Planet Labs has been bolstering its long-term order book in both defense and public sectors, signing a nine-figure, multi-year satellite data agreement with the Swedish Armed Forces and a national-level satellite scanning contract with the Slovenian government. In its third quarter of fiscal 2026, announced last December, the company reported revenue of $81 million—a year-over-year increase of more than 30%—and achieved adjusted EBITDA profitability for the fourth consecutive quarter, fueling expectations for sustained growth and a shift to profitability.

Founded in 2010 by former NASA engineers and headquartered in San Francisco, Planet Labs operates an Earth-observation satellite network of hundreds of small satellites that image nearly the entire planet on an almost daily basis. The company sells satellite imagery and geospatial analytics via subscription and usage-based models, serving U.S. and European defense and intelligence agencies as well as clients across agriculture, finance, insurance and other industries—solidifying its position as a premier space-based data infrastructure provider.