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Can Planet Labs' 20-Satellite Launch Strengthen Its Global Coverage?
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Key Takeaways
Planet Labs launched 20 satellites, including Tanager-2, 18 SuperDoves and a Suncatcher prototype.
Tanager-2 uses hyperspectral imaging to identify methane emissions and support several applications.
The SuperDoves are set to boost PlanetScope capacity for near-daily global monitoring and diverse customers.
Planet Labs PBC (PL - Free Report) has successfully launched 20 satellites aboard SpaceX’s Transporter-18 mission from Vandenberg Space Force Base, marking another step in expanding its satellite constellation and Earth-observation capabilities. The launch included the company’s second Tanager satellite, 18 SuperDoves and the first demonstration mission associated with Google’s Project Suncatcher.
The company established initial contact with Tanager-2, the Suncatcher prototype and two SuperDove satellites following deployment. The remaining 16 SuperDoves are expected to be deployed through D-Orbit’s ION satellite carrier as planned. The mission represents Planet Labs’ 40th successful launch and brings the total number of satellites the company has built and delivered to orbit to 718.
The Suncatcher demonstration is designed to test the feasibility of using Google Tensor Processing Units in space for machine-learning workloads. Meanwhile, Tanager-2, developed with Carbon Mapper, is equipped with hyperspectral imaging capabilities designed to identify methane emissions and support applications such as rare-earth element identification, water-quality monitoring and agricultural intelligence. The satellite captures imagery across 426 contiguous spectral bands with approximately 5-nanometer spectral resolution and 30-meter spatial resolution. Planet Labs expects to launch at least three additional Tanager satellites.
The 18 SuperDoves are part of PL’s Flock 4J mission and are expected to add capacity to the company’s PlanetScope constellation, which provides near-daily global monitoring. The expanded fleet is intended to support commercial customers as well as civil government, defense and intelligence applications.
Planet Labs plans additional launches to further expand its satellite constellations and support growing demand for satellite services, data and vertically integrated geospatial intelligence solutions. The company’s latest launch therefore adds capacity across multiple satellite platforms while advancing its efforts to broaden Earth-observation coverage and capabilities.
Taking a Look at PL’s Competitors
Redwire Corporation (RDW - Free Report) benefits from a record backlog, better revenue visibility, repeat defense awards and rising UAS and ISR demand. Margin improvement reflects better execution as the business scales. Capacity projects in Huntsville and Georgetown are aligned with real demand areas and backed by stronger liquidity. RDW invested in phased-array antenna technology for space communications. Redwire also reaffirmed its full-year 2026 revenue forecast of $450-$500 million. The $475 million midpoint implies 41.6% year-over-year growth. The Zacks Consensus Estimate for revenues is pegged at $471 million, which is lower than the midpoint of the company's guided range.
Satellogic (SATL - Free Report) is gaining from strong sovereign and defense demand, rising adoption of persistent monitoring and improving operating leverage. The successful launch of its first Merlin satellite strengthens SATL’s path toward daily global remapping and full operational service in the second half of 2027. In the second quarter, revenues surged 259% year over year to $15.9 million, while adjusted EBITDA turned positive at $2.8 million. Growth was supported by sovereign satellite deliveries and expanding Aleph Observer subscriptions. Satellogic also ended the quarter with $80.7 million in contracted backlog, including $45.8 million expected within 12 months, providing solid revenue visibility.
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Image: Bigstock
Can Planet Labs' 20-Satellite Launch Strengthen Its Global Coverage?
Key Takeaways
Planet Labs PBC (PL - Free Report) has successfully launched 20 satellites aboard SpaceX’s Transporter-18 mission from Vandenberg Space Force Base, marking another step in expanding its satellite constellation and Earth-observation capabilities. The launch included the company’s second Tanager satellite, 18 SuperDoves and the first demonstration mission associated with Google’s Project Suncatcher.
The company established initial contact with Tanager-2, the Suncatcher prototype and two SuperDove satellites following deployment. The remaining 16 SuperDoves are expected to be deployed through D-Orbit’s ION satellite carrier as planned. The mission represents Planet Labs’ 40th successful launch and brings the total number of satellites the company has built and delivered to orbit to 718.
The Suncatcher demonstration is designed to test the feasibility of using Google Tensor Processing Units in space for machine-learning workloads. Meanwhile, Tanager-2, developed with Carbon Mapper, is equipped with hyperspectral imaging capabilities designed to identify methane emissions and support applications such as rare-earth element identification, water-quality monitoring and agricultural intelligence. The satellite captures imagery across 426 contiguous spectral bands with approximately 5-nanometer spectral resolution and 30-meter spatial resolution. Planet Labs expects to launch at least three additional Tanager satellites.
The 18 SuperDoves are part of PL’s Flock 4J mission and are expected to add capacity to the company’s PlanetScope constellation, which provides near-daily global monitoring. The expanded fleet is intended to support commercial customers as well as civil government, defense and intelligence applications.
Planet Labs plans additional launches to further expand its satellite constellations and support growing demand for satellite services, data and vertically integrated geospatial intelligence solutions. The company’s latest launch therefore adds capacity across multiple satellite platforms while advancing its efforts to broaden Earth-observation coverage and capabilities.
Taking a Look at PL’s Competitors
Redwire Corporation (RDW - Free Report) benefits from a record backlog, better revenue visibility, repeat defense awards and rising UAS and ISR demand. Margin improvement reflects better execution as the business scales. Capacity projects in Huntsville and Georgetown are aligned with real demand areas and backed by stronger liquidity. RDW invested in phased-array antenna technology for space communications. Redwire also reaffirmed its full-year 2026 revenue forecast of $450-$500 million. The $475 million midpoint implies 41.6% year-over-year growth. The Zacks Consensus Estimate for revenues is pegged at $471 million, which is lower than the midpoint of the company's guided range.
Satellogic (SATL - Free Report) is gaining from strong sovereign and defense demand, rising adoption of persistent monitoring and improving operating leverage. The successful launch of its first Merlin satellite strengthens SATL’s path toward daily global remapping and full operational service in the second half of 2027. In the second quarter, revenues surged 259% year over year to $15.9 million, while adjusted EBITDA turned positive at $2.8 million. Growth was supported by sovereign satellite deliveries and expanding Aleph Observer subscriptions. Satellogic also ended the quarter with $80.7 million in contracted backlog, including $45.8 million expected within 12 months, providing solid revenue visibility.
PL’s Price Performance, Valuation & Estimates
Planet Labs’ shares have lost 50.6% over the past six months compared with the Satellite and Communication industry’s 21.4% decline.
Image Source: Zacks Investment Research
Planet Labs’ shares are trading at a forward 12-month price-to-sales multiple of 11.89X, significantly higher than the industry’s ratio of 2.93X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for PL’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
PL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.