Planet Labs Bags Multi-Year Contract From Swedish Armed Forces
(RTTNews) - 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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