customerScore 60/100Watch
Planet Labs revenue from defense and intelligence grew 50% YoY (FY2026), with backlog data/solutions component nearly doubling, signaling structural demand shift
Will Marshall· Planet Labs· Space· 2026-03-20· about Planet Labs (PL)
“During fiscal 2026, our defense and intelligence sector revenue grew more than 50% year on year... when we are selling these sovereign capabilities, we are coupling with that our data and solutions... a lot of our back log growth is in data and solutions. In fact, that part of the backlog has almost doubled year over year.”
Why it matters
Defense/intelligence customers are driving 50%+ growth and demanding bundled data + solutions offerings, not just raw satellite access. This signals sustained geopolitical demand and higher margins as services scale.
Investment implication
Companies providing AI-enabled analytics, signal processing, or domain-specific software stacks for defense applications (maritime domain awareness, threat detection, supply chain monitoring) will see accelerated adoption and potential acquisition by larger defense primes.