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Palantir Technologies (PLTR)

Palantir Technologies Inc. builds software platforms that empower organizations to integrate their data, decisions, and operations at scale. The company offers four principal software platforms: Palantir Gotham, Palantir Foundry, Palantir Apollo, and Palantir Artificial Intelligence Platform (AIP) . Palantir's revenue is generated from contracts with customers who pay to use these software platforms, with contract terms typically ranging from one to five years . The company operates in two segments: commercial and government, with significant contributions from both sectors .

  1. Palantir Gotham - Used by defense agencies and the intelligence community for data integration and analysis.
  2. Palantir Foundry - Serves as a central operating system for various industries, enabling data-driven decision-making.
  3. Palantir Apollo - A cloud-agnostic platform that ensures continuous operation of critical systems by coordinating updates and configurations.
  4. Palantir Artificial Intelligence Platform (AIP) - Leverages machine learning technologies and large language models to enhance data connectivity and decision-making processes within enterprises.

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NamePositionExternal RolesShort Bio

Alexander Karp

ExecutiveBoard

CEO

None

Co-founder of Palantir, instrumental in its growth and strategic direction, led the company through its direct listing and first profitable quarter.

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Stephen Cohen

ExecutiveBoard

President, Secretary, and Director

None

Co-founder of Palantir, key in its development as a leading data analytics company, holds a B.S. in Computer Science from Stanford.

David Glazer

Executive

CFO and Treasurer

None

Joined Palantir in 2013, instrumental in financial operations, holds a B.A. from Santa Clara University and a J.D. from Emory University.

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Ryan Taylor

Executive

CRO and CLO

None

Joined Palantir in 2010, previously Chief Legal and Business Affairs Officer, holds degrees from Stanford and Harvard.

Shyam Sankar

Executive

CTO and Executive Vice President

None

Joined Palantir in 2006, previously COO, holds degrees from Cornell and Stanford, significant contributions to technology leadership.

Eric Woersching

Board

Director

Private Consultant for early-stage software companies

Director since 2022, financial expertise, former VP at EasyPost, former General Partner at Initialized Capital, holds degrees from Stanford, CFA.

Lauren Friedman Stat

Board

Director

Board member at The Lorelton, Tree3, Valkyrie; Fractional CAO and Advisor at Friendly Force; CEO of Figa Jewelry

Director since 2021, holds a B.S. from Stanford, involved in various leadership roles outside Palantir.

Peter Thiel

Board

Chairman of the Board

President of Thiel Capital, Partner at Founders Fund

Co-founder of Palantir, instrumental in strategic direction, significant roles in venture capital.

  1. With your U.S. business growing at 44% and maintaining a Rule of 68, which you state is among the best, why not consider lowering margins to expand your client base and accelerate growth even further, especially when focusing on a smaller number of dominating partners may limit overall market penetration?

  2. Despite a 13% year-over-year growth, international government revenue declined 5% sequentially; what factors contributed to this decline, and what strategies are you implementing to address challenges in the international government segment?

  3. Given that revenue from strategic commercial contracts is expected to decline to between $6 million and $7.5 million in Q4 2024 from $20 million in Q4 2023, how significant is the impact on overall revenue, and what measures are you taking to mitigate this anticipated reduction?

  4. With adjusted expenses increasing by 6% sequentially and 14% year-over-year due to investments in AIP and technical talent, how do you balance the need for continued investment in AI capabilities with maintaining profitability and operating margins?

  5. As you focus on a smaller number of the world's best partners dominating with your product, rather than expanding to a larger client base, how do you mitigate risks associated with revenue concentration, especially if one of these key clients reduces their spending or switches to a competitor?

Program DetailsProgram 1
Approval DateAugust 2023
End Date/DurationNo expiration date
Total additional amount$1.0 billion
Remaining authorization$954.4 million
DetailsThe program may be discontinued at any time and aims to enhance shareholder value through various repurchase methods.
CustomerRelationshipSegmentDetails

Customer I

Significant accounts receivable concentration

N/A

26% of total A/R as of 12/31/2024 ; 15% of total A/R as of 12/31/2023. No revenue concentration reported.

NameStart DateEnd DateReason for Change
Ernst & Young LLP2008 PresentCurrent auditor

Recent press releases and 8-K filings for PLTR.

Palantir’s NGC2 Platform Flagged as High Risk by US Army
·$PLTR
  • A US Army memo dated September 5 classifies the Next Generation Command and Control (NGC2) platform, co-developed by Anduril and Palantir, as “very high risk” due to fundamental security vulnerabilities.
  • Identified flaws include inability to control user access, risks from unauthorized third-party applications, and potential unauthorized access to classified data.
  • Palantir denies any vulnerabilities in its platform, and Anduril states the concerns are based on outdated assessments that are being addressed.
  • Despite the scrutiny, Palantir’s stock has surged over 135% year-to-date, reaching a market value above $441 billion, driven by accelerating revenue and strong profit margins.
3 days ago
Palantir fundamentals strong amid historic valuation
·$PLTR
Revenue Acceleration/Inflection
  • Palantir trades at ~70× revenue, a multiple unseen for a software company and viewed as unsustainable despite robust performance.
  • The company combines top-line growth and profit margin to achieve a Rule of 90, underscoring unmatched fundamentals.
  • After eight quarters of accelerated revenue growth, analysts caution that a deceleration could trigger a valuation decline as comps become tougher.
  • Retail investors make up ~40% of the shareholder base, sustaining the high multiple while institutions avoid the stock due to valuation thresholds.
  • Upside depends on faster AIP monetization and sustained commercial momentum, with execution deemed “next to no one”.
Aug 25, 2025, 8:07 PM
Palantir stock dips 10% amid $1.6B short seller gains
·$PLTR
  • Palantir shares tumbled 10%, marking the longest losing streak in over a year, as short sellers netted approximately $1.6 billion amid a market cap decline exceeding $73 billion since August.
  • The stock later rebounded 4% after Fed Chair Powell hinted at a possible interest rate cut.
  • Q2 2025 revenue surged 48%, coupled with record contract bookings.
  • Analysts maintain a consensus “Hold” rating with an average price target of $152, citing overvaluation concerns and bearish pressure.
  • Management is shifting towards U.S. commercial customers, expected to comprise nearly 80% of revenue by 2026.
Aug 22, 2025, 4:11 PM
Palantir shares slide amid tech pullback
·$PLTR
  • Palantir shares fell nearly 10% in Tuesday’s session, though they remain up 108% YTD.
  • The tech sell-off was localized to large-cap tech, with the S&P 500 down 0.6% as over 350 S&P 500 members were in the green and smaller Nasdaq-100 names held relative strength.
  • Analysts warn Nvidia’s upcoming Q3 guidance may exclude China due to uncertainty, potentially missing Street estimates despite a $215 price target and strong longer-term outlook.
  • Reuters reports the White House is considering non-voting equity stakes in chipmakers—such as Intel, Samsung, TSMC, and Micron—as part of CHIPS Act funding packages.
Aug 20, 2025, 2:48 PM
Palantir Overvalued at $412 Billion Market Cap, Citron Warns
·$PLTR
  • Palantir’s stock has surged 435% over the past year, pushing its market cap to $412 billion despite only $1.7 billion in free cash flow.
  • Valuation multiples are exceptionally stretched: trailing P/E of 580, forward P/E of 278, EV/EBITDA of 681, price-to-sales of 128, and an earnings yield of 0.17%.
  • Citron Research highlights that growth is driven by customized, non-scalable deployments lacking network effects, unlike SaaS models such as OpenAI’s.
  • Significant insider selling by CEO Alex Karp—nearly $2 billion of shares over two years—serves as a cautionary signal to investors.
Aug 18, 2025, 2:04 PM
Palantir expands multi-year partnership with SOMPO
·$PLTR
New Projects/Investments
  • Palantir and SOMPO Holdings expanded their partnership in a multi-year agreement via Palantir Technologies Japan KK, leveraging Foundry across SOMPO’s subsidiaries with over 8,000 daily users.
  • Foundry powers SOMPO Japan’s end-to-end claims process—covering fraud detection, claim triage, and ongoing monitoring—to transform claims payment and optimize allocation.
  • AI agents in Foundry automatically evaluate underwriting risk and provide recommendations, driving an expected $10 million annual improvement in financial results.
  • This marks the second expansion since 2020, following a $50 million agreement increase in 2023.
Aug 12, 2025, 10:59 AM
RTX secures $50B 20-Year Defense Logistics Agency Contract
·$PLTR
New Projects/Investments
  • RTX was awarded a 20-year umbrella contract valued at up to $50 billion by the U.S. Defense Logistics Agency to supply systems, end-item production, spare parts, services and support through July 31, 2045.
  • The sole-source award under 10 U.S. Code 3204 authorizes indefinite-delivery/indefinite-quantity and “C”-type subsumable contracts for negotiated pricing.
  • Key funding and execution responsibilities rest with the U.S. Army, DLA Land and Maritime (Aberdeen Proving Ground, MD), and the Department of Defense.
  • RTX’s business spans Collins Aerospace, Pratt & Whitney and Raytheon segments, backed by $83.6 billion in revenue (+16.3% YoY), 9.95% operating margin, 7.35% net margin and a $209.9 billion market cap (Altman Z-Score 2.38).
Aug 2, 2025, 12:57 AM
Palantir secures $10B Army enterprise agreement
·$PLTR
New Projects/Investments
  • Palantir secured a 10-year enterprise agreement with the U.S. Army worth up to $10 billion, consolidating 75 existing contracts into a single, streamlined procurement framework with volume-based discounts.
  • The agreement enables the Army and other DoD agencies to flexibly purchase Palantir’s commercial software and AI services, accelerating real-time decision-making and mission planning.
  • Palantir’s commercial AI platform grew 71% year-over-year in early 2025 and now exceeds $1 billion in annualized U.S. commercial revenue, complementing its government business.
  • Earlier in 2025, Palantir received $795 million from the Pentagon to enhance Project Maven, underscoring expanding defense reliance on its AI-powered targeting technology.
Aug 1, 2025, 10:15 AM
Palantir launches FedStart partnership with Knightscope for federal autonomous security
·$PLTR
New Projects/Investments
  • Palantir entered a two-year agreement with Knightscope to join its FedStart program, targeting expansion into the U.S. federal autonomous security market.
  • Knightscope will receive FedRAMP High and DoD Impact Level 5 accreditations, ATO support, and integration into AWS GovCloud clusters with continuous compliance monitoring.
  • The collaboration supports the U.S. National Robotics Strategy and Palantir’s goal to deploy secure, AI-driven platforms for public safety and infrastructure protection.
  • Shares of Knightscope rose 4.24% to $8.55 and Palantir shares climbed 1.52% to $153.20 following the announcement.
Jul 17, 2025, 2:12 PM
Palantir partners with Tomorrow.io for weather intelligence
·$PLTR
New Projects/Investments
  • Palantir will integrate Tomorrow.io’s proprietary satellite data and AI-driven forecasts into its platforms for automated weather decision-making across defense, government, aviation, supply chain, and infrastructure sectors.
  • Tomorrow.io joins Palantir’s FedStart program to expedite FedRAMP and IL compliance, granting access to millions of federal employees.
  • The collaboration targets converting a $38 trillion annual economic output risk from weather into an operational advantage with hyper-local accuracy and without human intervention.
Jul 9, 2025, 10:59 AM