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 Palantir Artificial Intelligence Platform (“AIP”). Gotham and Foundry enable institutions to transform massive amounts of information into an integrated data asset that reflects their operations, and AIP leverages the power of our existing machine learning technologies alongside generative AI models, including large language models (“LLMs”), directly within Gotham and/or Foundry to help operationalize AI on enterprise data.
| Metric | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|
| Earnings Power | |||||||
| Revenue | 743M | 1.1B | 1.5B | 1.9B | 2.2B | 2.9B | 3.9B |
| Net Income | -588M | -1.2B | -520M | -374M | 210M | 462M | 1.1B |
| Owner Earnings | -419M | -1.6B | -459M | -364M | 203M | 431M | 1.1B |
| Non-Recurring | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | 67.4% | 67.7% | 78.0% | 78.6% | 80.6% | 80.2% | 80.8% |
| Op. Margin | -77.6% | -107.4% | -26.7% | -8.5% | 5.4% | 10.8% | 21.8% |
| Net Margin | -79.2% | -106.7% | -33.7% | -19.6% | 9.4% | 16.1% | 28.1% |
| Returns on Capital | |||||||
| ROE | 0.0% | -76.6% | -22.7% | -14.6% | 6.0% | 10.9% | 16.6% |
| ROA | -36.9% | -43.4% | -16.0% | -10.8% | 4.6% | 8.5% | 13.5% |
| ROIC | 0.0% | -67.8% | -22.7% | -14.6% | 3.2% | 7.0% | 548.4% |
| Cash Flow | |||||||
| Free Cash Flow | -178M | -309M | 321M | 184M | 697M | 1.1B | 1.8B |
| CapEx | 13M | 12M | 13M | 40M | 15M | 13M | 24M |
| Maint. CapEx | 12M | 14M | 15M | 23M | 33M | 32M | 32M |
| Growth CapEx | 0 | 0 | 0 | 18M | 0 | 0 | 0 |
| CapEx/OCF | N/A | N/A | 3.8% | 17.9% | 2.1% | 1.1% | 1.3% |
| D&A | 12M | 14M | 15M | 23M | 33M | 32M | 32M |
| Capital Allocation | |||||||
| Op. Cash Flow | -165M | -297M | 334M | 224M | 712M | 1.2B | 1.8B |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Share Buybacks | 11M | 0 | N/A | N/A | 0 | 64M | 64M |
| Buyback Yield | N/A | 0.0% | N/A | N/A | N/A | 0.0% | 0.0% |
| Debt Repayment | 150M | 400M | 200M | 0 | N/A | N/A | N/A |
| Stock-Based Comp | 242M | 1.3B | 778M | 565M | 476M | 692M | 692M |
| Balance Sheet | |||||||
| Total Assets | 1.6B | 2.7B | 3.2B | 3.5B | 4.5B | 6.3B | 8.1B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | 1.4B | 1.2B | 956M | 819M | 961M | 1.2B | 1.4B |
| Equity | -2.0B | 1.5B | 2.3B | 2.6B | 3.5B | 5.0B | 6.6B |
| Net Debt | -683M | -1.8B | N/A | N/A | N/A | N/A | -6.4B |
| Long-Term Debt | 396M | 198M | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | N/A | 0.13 | N/A | N/A | N/A | N/A | 0.00 |
| Interest Coverage | -188.3 | -83.0 | -112.9 | -39.7 | N/A | N/A | N/A |
| Working Capital | 486M | 1.7B | 2.2B | 2.5B | 3.4B | 4.9B | 4.9B |
| Current Assets | 1.2B | 2.3B | 2.9B | 3.0B | 4.1B | 5.9B | 5.9B |
| Current Liabilities | 729M | 604M | 660M | 588M | 746M | 996M | 996M |
| Retained Earnings | -3.8B | -5.0B | -5.5B | -5.9B | -5.6B | -5.2B | -5.2B |
| Per Share Data | |||||||
| Avg. Price | N/A | 17.44 | 24.30 | 10.07 | 13.16 | 32.97 | 135.90 |
| EPS | -1.02 | -1.20 | -0.27 | -0.18 | 0.09 | 0.19 | 0.43 |
| Owner EPS | -0.73 | -1.63 | -0.24 | -0.18 | 0.09 | 0.18 | 0.48 |
| Book Value | -3.44 | 1.57 | 1.19 | 1.24 | 1.49 | 2.06 | 2.89 |
| Cash Flow/Share | -0.29 | -0.31 | 0.17 | 0.11 | 0.31 | 0.47 | 0.49 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 576.6M | 972.0M | 1.9B | 2.1B | 2.3B | 2.4B | 2.3B |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 195.1 | 416.2 | 316.0 |
| Price/Book | N/A | 16.4 | 15.6 | 4.9 | 11.8 | 38.4 | 47.1 |
| Price/Sales | N/A | 15.5 | 30.4 | 11.0 | 13.8 | 28.0 | 79.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 357.8 |
| FCF Yield | N/A | -1.2% | 0.9% | 1.5% | 1.7% | 0.6% | 0.6% |
| Market Cap | N/A | 24.9B | 35.8B | 12.6B | 40.9B | 192.4B | 310.4B |
| Year-End Price | N/A | 25.63 | 18.57 | 6.07 | 17.56 | 79.08 | 135.90 |