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Planet Signs Partnership with Farmdar to Enhance Global Agricultural AI Analysis

1. Planet Labs secures a six-figure contract with Farmdar for satellite data access. 2. Contract enhances Farmdar's agricultural intelligence with PlanetScope data. 3. Partnership supports global agricultural optimization through AI-driven solutions. 4. Near-daily satellite data is crucial for sustainable farming practices. 5. Farmdar aims to boost productivity and food security with advanced crop insights.

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FAQ

Why Bullish?

The contract with Farmdar enhances revenue potential and market presence, similar to previous client expansions like with Airbus.

How important is it?

The contract showcases Planet’s capacity in the agriculture sector, aligning with market needs, thus potentially increasing investor confidence.

Why Long Term?

The collaboration aims to strengthen Farmdar's operations, likely leading to sustained revenue growth for Planet.

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SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced a new six-figure contract with Farmdar, a global agriculture technology company. Through this contract, Farmdar will have access to Planet’s deep archive of PlanetScope data, including Planet Basemaps, to inform its crop insights platform. Planet's satellite imagery will provide critical insights into agricultural operations, enabling more precise crop detection, geographical boundary identification, and arable land mapping. This near-daily data, together with Farmdar's sophisticated AI models, will deliver actionable intelligence to agricultural enterprises worldwide. Since 2022, Farmdar has been relying on Planet’s satellite imagery to develop high-precision crop insights at scale. This enhanced access enables Farmdar to drive deeper value for their clientele in multiple categories, specifically for discerning sugar millers globally, demanding high precision insights. "We’ve seen the power of AI solutions and satellite data together to unlock insights about our changing world," said Ashley Johnson, Planet President and CFO. "Farmdar's cutting-edge AI for agricultural optimization, powered by PlanetScope data, will provide the essential, frequent insights needed to drive more sustainable and productive farming practices globally." "Partnering directly with Planet is a significant step forward for Farmdar and our commitment to delivering best-in-class agricultural intelligence,” said David Pridmore, Farmdar Chief Technology Officer. “Planet's unparalleled near-daily PlanetScope data provides the foundational, high-quality inputs our AI models require for delivering unparalleled accuracy, particularly for complex crops like sugarcane. This direct relationship will empower our global clients with the timely, precise information they need to optimize operations and make more informed decisions." This partnership underscores the growing demand for timely, near-daily satellite data to transform traditional agricultural practices through AI-driven solutions, supporting food security and resource efficiency worldwide. About Planet Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter) or tune in to HBO’s ‘Wild Wild Space’. About Farmdar Farmdar uses space technology and AI to create accurate and actionable crop insights for sustainable agriculture at scale. Headquartered in Singapore, Farmdar serves leading agribusiness globally with crop insights to increase productivity and yields, optimise supply chain, sales, and procurement functions, while mitigating their impact on climate change. To learn more, visit farmdar.ai or send inquiries to info@farmdar.co.uk. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding Planet’s product development and performance, including with respect to AI, its future execution and performance under contracts and the expected value of such contracts and the amount of revenue that Planet will recognize, Planet’s growth opportunities, and Planet’s expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including those detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

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