Palantir Technologies Inc
palantir.comWhat Do They Do?
Builds software platforms that help government agencies and commercial organizations integrate data and manage operations.
10-K for FY2025, filed Feb 17, 2026We build software that empowers organizations to effectively integrate their data, decisions, and operations at scale.View ↗
We have built four principal software platforms: Gotham, Foundry, Apollo, and AIP. Our software platforms provide the critical…View ↗
Gotham integrates with our other platforms, as well as our broader defense offerings, and enables users to see, understand, and act in the…View ↗
Foundry transforms the ways organizations operate by creating a central operating system for their interconnected data, logic, and action.…View ↗
How Do They Make Money?
Organizations pay for hosted software access, software licenses for use over a contract term with ongoing support, and professional services. These services are generally provided over contract periods, and customers are often billed in advance; payment timing varies by contract.
10-K for FY2025, filed Feb 17, 2026The Company generates revenue from the sale of subscriptions to access its software platforms in the Company’s hosted environment, along…View ↗
The Company’s Palantir Cloud subscriptions grant customers the right to access the software functionality in a hosted environment…View ↗
Sales of the Company’s software licenses, primarily term licenses, grant customers the right to use functional intellectual property…View ↗
The Company’s professional services support the customers’ use of the software platforms and include, as needed, on-demand user support…View ↗
The timing of customer billings and payments relative to the start of the service period varies from contract to contract; however, the…View ↗
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10-K for FY2025, filed Feb 17, 2026
FY2025 revenue by reportable segment ↗
$4.5B
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10-K for FY2025, filed Feb 17, 2026
$4.5B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Government Operating Segment
Recurring
10-K for FY2025, filed Feb 17, 2026 |
54%
FY2022: 56%
|
Government Operating Segment, FY2025
$2.4B Sources
|
Recurring |
|
Commercial
Recurring
10-K for FY2025, filed Feb 17, 2026 |
46%
FY2022: 44%
|
Commercial, FY2025
$2.1B Sources
|
Recurring |
Who Are Their Customers?
Government agencies and commercial organizations use Palantir’s software across industries. It sells through a direct sales force and also works with cloud-service providers and other channel partners to extend distribution.
10-K for FY2025, filed Feb 17, 2026Our CustomersView ↗
Our software is used across many industries around the world. It is applied to a variety of use cases by users across various business…View ↗
Direct Sales ForceView ↗
We have invested and may continue to invest in an account-based sales force to identify and capture new customers and opportunities.View ↗
Channel Sales & Cloud PartnershipsView ↗
We have entered into, and continue to explore the development of, partnerships for specific industries and sectors by partnering closely…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 36 cents of every revenue dollar as net income in FY2025 and turned 47 cents into free cash flow.
10-K for FY2025, filed Feb 17, 2026
$1.4BView ↗
10-K for FY2025, filed Feb 17, 2026
$1.6BView ↗
10-K for FY2025, filed Feb 17, 2026
$2.1BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
$1.1BView ↗
- ▲ +225%
- vs $326.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Aug 3, 2026
Raised full-year revenue guidance
Also raised outlook for U.S. commercial revenue, adjusted operating income, and adjusted free cash flow.
Sources
8-K, filed Aug 3, 2026
We are raising our revenue guidance to between $8.150 – $8.158 billion. We are raising our U.S. commercial revenue guidance to in excess of…View ↗
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May 4, 2026
Raised full-year revenue guidance
Also raised outlook for U.S. commercial revenue, adjusted operating income, and adjusted free cash flow.
Sources
8-K, filed May 4, 2026
We are raising our revenue guidance to between $7.650 – $7.662 billion. We are raising our U.S. commercial revenue guidance to in excess of…View ↗
Growing. Revenue grew 2.9x in 4 years, from $1.5B in FY2021 to $4.5B in FY2025, about 31% a year.
Added an AI platform
The older report described Gotham, Foundry, and Apollo as the principal platforms; the latest report also describes AIP, which connects AI models with customers’ data and operations.
10-K for FY2022, filed Feb 21, 2023 10-K for FY2025, filed Feb 17, 2026We have built three principal software platforms, Palantir Gotham (“Gotham”), Palantir Foundry (“Foundry”), and Palantir Apollo (“Apollo”).…View ↗
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