Palantir Technologies Inc. PLTR

Technology SIC 7372 - Services-Prepackaged Software NAICS Information › Publishing Industries › Software Publishers derived Nasdaq

We build software that empowers organizations to effectively integrate their data, decisions, and operations at scale.

We were founded in 2003 and started building software for the intelligence community in the United States to assist in counterterrorism investigations and operations. We later began working with commercial enterprises, who often faced fundamentally similar challenges in working with data.

We have built four principal software platforms, Palantir Gotham ("Gotham"), Palantir Foundry ("Foundry"), Palantir Apollo ("Apollo"), and our Artificial Intelligence Platform ("AIP"). Foundry is our foundational data operations platform, which provides the core capabilities for data management, logic authoring, systemic mapping development through Palantir Ontology ("Ontology"), analytics, and workflow development. AIP is our generative artificial intelligence ("AI") platform, which provides secure connectivity to third-party-provided large language models ("LLMs"), a development toolchain for building AI-powered agents and automations, an array of AI-enabled end user applications, a broad evaluations framework for governing AI workflows in production, and more. Apollo is our continuous delivery platform, enabling the orchestration of upgrades of services and assets every day to manage the underlying infrastructure that hosts our other platforms. Gotham

Last close 196.75 2026-10-23
Market cap $472.16B estimated share count
52-week range 106.37 - 212.94

Valuation FY2025 figures against the last close

P/S105.5x
P/E312.3x
P/FCF224.8x
EV/EBITDA327.9x
Dividend yield—
Diluted EPS0.63

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States - Geographic Concentration Risk
  • Rest of world - Geographic Concentration Risk
  • United Kingdom - Geographic Concentration Risk
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States - Geographic Concentration Risk, FY2025: 3.3B (74.2%) 74% United States - Geographic Concentration Risk Rest of world - Geographic Concentration Risk, FY2025: 728M (16.3%) 16% United Kingdom - Geographic Concentration Risk, FY2025: 427.4M (9.5%) 10% FY2024 United States - Geographic Concentration Risk, FY2024: 1.9B (66.3%) 66% Rest of world - Geographic Concentration Risk, FY2024: 660.7M (23.1%) 23% United Kingdom - Geographic Concentration Risk, FY2024: 304.6M (10.6%) 11% FY2023 United States - Geographic Concentration Risk, FY2023: 1.4B (61.9%) 62% Rest of world - Geographic Concentration Risk, FY2023: 611.5M (27.5%) 27% United Kingdom - Geographic Concentration Risk, FY2023: 235.3M (10.6%) 11%
Region FY2025FY2024FY2023
United States - Geographic Concentration Risk $3.32B $1.90B $1.38B
Rest of world - Geographic Concentration Risk $728.0M $660.7M $611.5M
United Kingdom - Geographic Concentration Risk $427.4M $304.6M $235.3M

As the company reported it, from the “Segment and Geographic Information - Summary of Revenue by Geography (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $4.48B$2.87B$2.23B$1.91B$1.54B$1.09B$742.6M$595.4M—
Cost of revenue $789.2M$566.0M$431.1M$408.5M$339.4M$352.5M$242.4M$165.4M—
Gross profit $3.69B$2.30B$1.79B$1.50B$1.20B$740.1M$500.2M$430.0M—
R&D $557.7M$507.9M$404.6M$359.7M$387.5M$560.7M$305.6M$285.5M—
SG&A $657.7M$593.5M$524.3M$596.3M$611.5M$669.4M$320.9M$306.2M—
Total operating expenses $2.27B$1.99B$1.67B$1.66B$1.61B$1.91B$1.08B$1.05B—
Operating income $1.41B$310.4M$120.0M-$161.2M-$411.0M-$1.17B-$576.4M-$623.4M—
Interest expense ——$3.5M$4.1M$3.6M$14.1M$3.1M$3.4M—
Pre-tax income $1.66B$489.2M$237.1M-$361.0M-$488.5M-$1.18B-$567.3M-$570.9M—
Income tax $22.7M$21.3M$19.7M$10.1M$31.9M$12.6M$12.4M$9.1M—
Net income $1.63B$462.2M$209.8M-$373.7M-$520.4M-$1.17B-$579.6M-$580.0M—
EPS, basic 0.690.210.10-0.18-0.27-1.19-1.02-1.11—
EPS, diluted 0.630.190.09-0.18-0.27-1.20-1.02-1.17—
Shares, diluted (wtd. avg.) 2.57B2.45B2.30B2.06B1.92B979.3M577.0M544.0M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $1.42B$2.10B$831.0M$2.63B$2.37B$2.13B$1.40B$1.27B$1.27B
Short-term investments $5.75B$3.13B$2.84B$35.1M$234.2M————
Receivables $1.04B$575.0M$364.8M$258.3M$190.9M$156.9M$50.3M——
Total current assets $8.36B$5.93B$4.14B$3.04B$2.86B$2.26B$1.21B——
Property, plant and equipment $52.0M$39.6M$47.8M$69.2M$31.3M$29.5M$31.6M——
Goodwill ———$37.9M$1.9M————
Other intangibles —$18.1M$25.9M$35.5M$3.8M————
Total assets $8.90B$6.34B$4.52B$3.46B$3.25B$2.69B$1.59B——
Accounts payable $8.1M$103.0K$12.1M$44.8M$74.9M$16.4M$51.7M——
Total current liabilities $1.18B$996.0M$746.0M$587.9M$660.1M$603.8M$728.6M——
Long-term debt ————$0$198.0M$396.1M——
Total liabilities $1.41B$1.25B$961.5M$818.8M$956.4M$1.17B$1.45B——
Retained earnings -$3.56B-$5.19B-$5.65B-$5.86B-$5.49B-$4.97B-$3.80B——
Total equity $7.39B$5.00B$3.56B$2.64B$2.29B$1.52B-$1.98B-$1.75B-$1.50B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $2.13B$1.15B$712.2M$223.7M$333.9M-$296.6M-$165.2M-$39.0M—
Depreciation and amortisation $26.1M$31.6M$33.4M$22.5M$14.9M$13.9M$12.3M$13.9M—
Stock-based compensation $684.0M$691.6M$475.9M$564.8M$778.2M$1.27B$242.0M$248.5M—
Capital expenditure $33.9M$12.6M$15.1M$40.0M$12.6M$12.2M$13.1M$13.0M—
Investing cash flow -$2.78B-$340.7M-$2.71B-$45.4M-$397.9M-$14.9M-$22.0M-$6.8M—
Financing cash flow -$26.9M$463.4M$218.8M$86.0M$306.7M$1.04B$324.5M$46.2M—
Buybacks $75.0M$64.2M$0$0$0$3.8M$11.2M$7.7M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001321655-26-000019.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2018: 595.4M Gross profit, FY2018: 430M Net income, FY2018: -580M Revenue, FY2019: 742.6M Gross profit, FY2019: 500.2M Net income, FY2019: -579.6M Revenue, FY2020: 1.1B Gross profit, FY2020: 740.1M Net income, FY2020: -1.2B Revenue, FY2021: 1.5B Gross profit, FY2021: 1.2B Net income, FY2021: -520.4M Revenue, FY2022: 1.9B Gross profit, FY2022: 1.5B Net income, FY2022: -373.7M Revenue, FY2023: 2.2B Gross profit, FY2023: 1.8B Net income, FY2023: 209.8M Revenue, FY2024: 2.9B Gross profit, FY2024: 2.3B Net income, FY2024: 462.2M Revenue, FY2025: 4.5B Gross profit, FY2025: 3.7B Net income, FY2025: 1.6B FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $595.4M $742.6M $1.09B $1.54B $1.91B $2.23B $2.87B $4.48B
Gross profit — $430.0M $500.2M $740.1M $1.20B $1.50B $1.79B $2.30B $3.69B
Net income — -$580.0M -$579.6M -$1.17B -$520.4M -$373.7M $209.8M $462.2M $1.63B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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