UrtheCast Announces Committed Revenue Backlog for UrtheDaily Constellation

UrtheCast has signed binding data subscription agreements for the UrtheDaily Constellation totalling in excess of CAD100 million. Consisting of three anchor customers and multiple incremental customers, these long-term revenue commitments contribute to a consistent UrtheDaily revenue stream over contract durations of between four and seven years.

These binding revenue commitments from a diverse group of market leaders demonstrate a widespread recognition of the UrtheDaily Constellation as a best-in-class technology and a clear game-changer in the Earth Observation industry, stated UrtheCast’s president and CEO, Wade Larson. They have now grown the stable, highly predictable revenue stream underlying the UrtheDaily business to a total backlog of more than CAD100 million. Having reached this important milestone, and with the UrtheDaily financing package expected to close by year end, the company is in an excellent position to confidently move forward with the development of the UrtheDaily Constellation and the goal of becoming the pre-eminent provider for the next generation of Earth Observation data and analytics services, Larson continued.

About UrtheDaily

UrtheDaily is a planned global coverage constellation of medium-resolution optical satellites aiming to acquire high-quality, multispectral imagery, at 5m GSD (Ground Sample Distance), taken at the same time, from the same altitude, every day. This robust, constantly updating data set will empower customers in government, aerospace, agriculture, insurance, infrastructure, and other sectors as they tackle the world’s biggest challenges. UrtheDaily is the most advanced change-detection and monitoring system in the world, with disruptive and problem-solving technology that stands to transform the way we observe our planet.

For more information, visit UrtheCast's website at www.urthecast.com.