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Planet Labs defense and intelligence revenue grew >50% YoY; US Defense Innovation Unit awarded $7M+ extension and selected as SHIELD-IDIQ prime contractor
Will Marshall· Planet Labs· Space· 2026-03-29· about Planet Labs, US Department of Defense (PL)
“Full year DNI revenue grew over 50% year-on-year, driven by strong performance in our data subscriptions, solutions, and satellite services. During the quarter we received two awards from the US Defense Innovation Unit. We were awarded a seven-figure extension of our pilot in support of the Indo-Pacific Command. Finally, last month the US Moussel Defense Agency selected Planet as a prime contractor for the SHIELD-IDIQ contract vehicle.”
Why it matters
Defense demand is driving >50% revenue growth in Planet's largest and fastest-growing segment. SHIELD-IDIQ selection positions Planet to compete for large DoD satellite architecture contracts.
Investment implication
Geopolitical tensions (Indo-Pacific, Middle East) are accelerating defense spending on Earth observation. Suppliers to Planet and other DoD contractors (components, manufacturing, integration, launch) should benefit from sustained defense capex.