Planet Labs Backlog and Remaining Performance Obligations (FY26)
FY25 year-end-FY26 year-end
Updated at 2026-FY (reported 2026-03-19)
Planet Labs: Major Disclosed Contracts Driving the Backlog Surge
| Customer / Program | Announced | Disclosed Value | Scope |
|---|---|---|---|
| German Government (Ministry of Defense) | 2025 (revenue from Jan 2026) | ~240 million euro, multi-year | Dedicated Pelican capacity and direct downlink over specific European regions, plus PlanetScope and SkySat data and AI-enabled solutions. Revenue recognition began Jan 2026, ramping over several years. |
| Japan via SKY Perfect JSAT (Satellite Services) | Jan 2025 (announced Feb 5, 2025) | $230 million USD, multi-year (approximately 7 years) | Planet's largest single disclosed contract at announcement. SKY Perfect JSAT (through JSAT Beyond Innovation) commissioned a dedicated constellation of 10 Pelican satellites for Earth observation. Payments recognized over six or more years. Note: Planet separately cited 'over $500M across three satellite services contracts' (JSAT + Germany + Sweden combined), not JSAT alone. |
| Swedish Armed Forces | Jan 2026 | Low nine-figure USD (exact undisclosed) | Multi-year agreement, Planet's third Satellite Services contract in twelve months. Includes Sweden's first sovereign satellite capacity (first-light imagery released May 2026). |
| NATO | FY26 | Seven-figure USD (exact undisclosed) | Space-based surveillance, maritime domain awareness, and enhanced indications and warnings. |
| US Defense Innovation Unit (DIU), INDOPACOM | FY26 expansion | Undisclosed (expansion of existing deal) | Expanded existing DIU contract supporting Indo-Pacific Command. |
| US Navy | FY26 | Seven-figure USD (exact undisclosed) | Maritime domain awareness across the Pacific Ocean region. |
| Editorial: backlog context | FY26 year-end | Total backlog 900.4 million USD | Methodology note: total contracted backlog grew 79% YoY in FY26 and RPO grew 106% to 852.4 million USD. The named deals above are the principal disclosed drivers; Planet does not publish a full per-contract reconciliation, so the table is a representative not exhaustive list. |
Updated at 2026-Q1 FY27 (covers awards through May 2026)
Planet Next-Generation Satellites On Orbit: Pelican and Tanager
FY24 (end Jan 2024)-May 2026 (Q1 FY27)
Updated at 2026-05 (after Pelican 7/8/9 launch)
Planet Labs Recurring ACV as Percent of Total ACV
FY23-FY26
Recurring ACV (% of total)
Updated at 2026-FY (reported 2026-03-19)
Planet Labs Revenue Mix by End Market (Q3 FY26)
Updated at 2026-Q3 (FY26)
Planet Labs Annual Revenue by Fiscal Year (FY22 to FY26)
FY22-FY26
Revenue (USD millions)
Updated at 2026-FY (reported 2026-03-19)
Planet Labs in Space
Planet Labs
$PL
Operates one of the largest fleets of earth-observation satellites, selling daily global imagery and analytics on subscription to government and commercial customers.