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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 announces Hyperscience Hypercell Winter 2025 release
·$PLTR
Product Launch
  • Palantir’s Hyperscience Hypercell platform receives the Winter 2025 release, advancing agentic document automation with a composable, modular architecture for multi-cloud environments.
  • Introduces ORCA enhancements—Supervision Page Location Focus and Chat with Documents LLM block—for secure, air-gapped GenAI document querying and annotation.
  • Adds expanded redaction, masking, and synthetic data generation capabilities to protect PII under GDPR and HIPAA, enabling secure offshoring and governance.
  • Extends hyperscaler integrations with native connectors for Microsoft Azure Blob Storage and Google Cloud Storage alongside AWS S3, boosting deployment flexibility.
  • Secures FedRAMP High Authorization through a Palantir partnership and is recognized as a leader in the 2025 Gartner Magic Quadrant and other analyst reports; SaaS availability now, on-premises deployment in October 2025.
6 days ago
Palantir-linked Pacific Defense wins US Army CMFF MCI contract
·$PLTR
New Projects/Investments
  • The US Army awarded Pacific Defense a multi-year contract under the C3N program for modular C5ISR CMOSS infrastructure (CMFF with MCI) to accelerate its networked combat capabilities.
  • Deliveries begin in November 2025 for soldier experimentation, software integration, and interface development, leading to full vehicle field evaluations in 2026.
  • The CMFF MCI solution covers both land and air platforms, integrating communications, C2, APNT, and EW/SIGINT modules in a SAVE-compatible plug-in chassis.
  • As a SOSA consortium member with partners including Palantir, Pacific Defense has deployed over 150 systems to the US and FVEY partners and expects significant deployment growth through 2026.
Oct 7, 2025, 11:36 PM
Palantir participates in US Army CMFF-mounted infrastructure contract
·$PLTR
New Projects/Investments
  • The US Army awarded a multi-year contract to Pacific Defense for its CMFF-mounted Common Infrastructure (MCI) under the PEO C3N program.
  • Pacific Defense will deliver CMFF-MCI systems from November 2025 to support soldier experiments, software integration and user interface development ahead of full vehicle-mounted evaluations in 2026.
  • CMFF-MCI integrates communication, C2, secure PNT and EW/SIGINT capabilities via plug-and-play cards in a standardized, vehicle-compatible (SAVE) chassis.
  • The CMFF-MCI effort is supported by partners including Thales Defense & Security, BAE Systems, Palantir, MAXISIQ, Regal Technology Partners and STC (Arcfield).
Oct 7, 2025, 11:29 PM
Palantir selected by OneMedNet to advance healthcare AI and data analytics
·$PLTR
New Projects/Investments
  • OneMedNet has chosen Palantir’s Artificial Intelligence Platform under a multi-year agreement to power its healthcare AI and RWD analytics marketplace, aiming to accelerate development of medical solutions with secure, regulatory-grade data.
  • The integration leverages OneMedNet’s network of 1,750+ provider sites, covering 5 billion administrative claims and 131 million clinical exams across oncology, cardiology, and rare diseases.
  • Palantir’s platform introduces faster data discovery, AI-powered conversational search, custom cohort creation, and advanced anonymization to streamline data delivery and research workflows.
Oct 6, 2025, 11:01 AM
Palantir selected by OneMedNet to advance healthcare AI
·$PLTR
New Projects/Investments
  • Under a multi-year deal, OneMedNet selected Palantir’s AI Platform to power its iRWD™ near real-time provider network for advanced RWD analytics.
  • The integration unlocks access to 5 billion+ administrative claims and 131 million clinical exams across 1,750+ provider sites spanning oncology, cardiology, and rare diseases.
  • The collaboration aims to address the $868 billion AI-driven healthcare opportunity by accelerating development of medical solutions and reducing costs and time to market.
  • Palantir’s platform delivers faster data discovery, conversational search, and regulatory-grade anonymization, enhancing life sciences and medical device research capabilities.
Oct 6, 2025, 10:59 AM
Palantir’s NGC2 Platform Flagged as High Risk by US Army
·$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 $441 billion, driven by accelerating revenue and strong profit margins.
Oct 3, 2025, 2:54 PM
Palantir fundamentals strong amid historic valuation
·$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