Planet Labs PBC (PL), Monday announced a multi-year low 9-figure agreement with the Swedish Armed Forces to supply a suite of satellites, space-based data and awareness solutions.
The company said that its scaled production line and agile aerospace methodology would help Sweden to strengthen its long-term sovereignty.
The company expects to recognize the commercial payments from the partner as revenue over several years.
Currently, PL is moving up 6.96 percent, to $24.31 on the New York Stock Exchange.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.