Why Planet Labs (PL) Is Building a Higher-Value Space Data Story Around NGA Demand

Why Planet Labs (PL) Is Building a Higher-Value Space Data Story Around NGA Demand Habib Ur Rehman Sat, June 20, 2026 at 12:19 AM GMT+7 1 min read PL Planet Labs PBC (NYSE:PL) is one of the fastest-growing space stocks to buy now. On June 4, Planet Labs secured two National Geospatial-Intelligence Agency milestones, including a one-year, $22 million extension under the Luno B IDIQ contract for AI-enabled Maritime Domain Awareness and a new Global Monitoring Service award with NGA and the Defense Innovation Unit. The awards strengthen the growth case because they show demand from the government moving beyond satellite imagery into recurring analytics, change detection, and crisis-response monitoring, areas where Planet can sell higher-value services from its existing constellation and data archive. That demand is already showing in the numbers. Also on June 4, Planet reported fiscal first-quarter 2027 revenue of $94.2 million, up 42% year over year, while backlog rose 72% to more than $906 million and remaining performance obligations increased 81% to $816 million. For a space company still working toward steadier profitability, the key point is that revenue growth is being supported by contract visibility, not only future satellite ambition.

Planet Labs PBC (NYSE:PL) provides global daily satellite imagery, geospatial data, analytics, and software solutions for government and commercial customers. While we acknowledge the potential of PL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None. Follow Insider Monkey on Google News.