Company Overview

Palantir Technologies Inc. is a prominent software company specializing in building and deploying data analytics platforms designed for complex governmental and commercial operations. Founded in 2003 by Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings, Palantir emerged from a vision to revolutionize how data is leveraged to solve critical problems. The company operates through two main segments: Government and Commercial. Its platforms are integral to various sectors, including defense, intelligence, healthcare, energy, and financial services, facilitating data integration, large-scale analytics, and informed operational decision-making.

Core Platforms and Services

Palantir offers a suite of powerful software platforms that serve as foundational operating systems for its clients:

Palantir Gotham

This platform enables users to uncover intricate patterns within vast datasets, ranging from intelligence sources to informant reports. It also streamlines the collaboration between analysts and operational teams, empowering users to plan and execute real-world responses to identified threats.

Palantir Foundry

Foundry transforms organizational operations by establishing a central operating system for data. It allows individual users to integrate, analyze, and utilize the data they need in a unified environment, breaking down data silos and enhancing data-driven decision-making.

Palantir Artificial Intelligence Platform (AIP)

AIP represents Palantir's strategic position at the forefront of the AI revolution. Building on early insights into the commoditization of large language models, AIP empowers organizations to leverage AI capabilities securely and effectively within their operational frameworks.

Market Performance and Valuation

As of September 2024, Palantir Technologies held a market capitalization of $425.43 billion. The company's stock experienced a significant surge, soaring approximately 340% in 2024, making it a top performer in major indices like the S&P 500 and Nasdaq-100.

PLTR reached its all-time high of $190.00 USD on August 12, 2025, while its all-time low was $5.92 USD on December 27, 2022. Over the past year, Palantir Technologies has demonstrated an impressive growth of approximately 398.00%.

Financial Performance

Revenue Growth

In 2024, Palantir reported revenue of $2.87 billion, marking a 28.79% increase from the previous year's $2.23 billion. Earnings for the year stood at $462.19 million, an impressive 120.27% increase.

Q4 FY2024 Results (Reported Feb 2025)

For the fourth quarter of fiscal year 2024, Palantir announced adjusted earnings per share of 14 cents, exceeding the expected 11 cents. Revenue for the quarter reached $828 million, surpassing the projected $776 million. This represents a 36% increase from $608.4 million in the same quarter the prior year, contributing to the overall 29% sales growth for the full fiscal year.

Segment Performance

The company witnessed robust growth across its segments. U.S. revenue increased by 52% year-over-year and 12% quarter-over-quarter, reaching $558 million. Within the U.S. segment, commercial revenue grew by 64% year-over-year and 20% quarter-over-quarter to $214 million. U.S. government revenues rose by 45% year-over-year to $343 million.

Business Operations and Customer Base

Palantir collaborates with leading governmental and commercial institutions globally. As of December 31, 2024, the company served 711 customers. Its software is widely adopted across approximately 90 industries, utilized by professionals in roles such as utility operations analysts, automotive manufacturing workers, oil and gas technicians, pharmaceutical researchers, supply-chain managers, and military officials.

Of the $2.9 billion in revenue generated in 2024, 55% originated from the government segment, and 45% from commercial customers. The top three clients collectively accounted for 17% of the 2024 revenue, and have maintained an average tenure of nine years as of December 31, 2024.

Stock Exchange Listing

Palantir Technologies Inc. was admitted to the S&P 500 in September 2024. In mid-November, the company shifted its stock listing from the New York Stock Exchange (NYSE) to the NASDAQ, leading to its inclusion in the Nasdaq-100 index during its December rebalance. PLTR shares are traded on the NASDAQ.

Company Structure and Employees

Palantir has grown significantly from its early days. As of December 31, 2024, the company employed 3,936 full-time employees, with personnel located both within the United States and internationally. As of February 10, 2025, the total outstanding shares comprised 2,248,950,826 shares of Class A common stock, 95,400,680 shares of Class B common stock, and 1,005,000 shares of Class F common stock.

Strategic Positioning

Palantir employs a distinctive "boots on the ground" software integration strategy, deploying engineers on-site to ensure effective adoption and achieve maximum operational synergies. This approach is further supported by over 500 AIP bootcamps offered to facilitate operational on-boarding and user engagement. CEO Alex Karp has highlighted the unprecedented momentum the company is experiencing across both its commercial and government segments, emphasizing that this is merely the "earliest stages, the beginning of the first act, of a revolution that will play out over years and decades."