Palantir Technologies Inc. builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. It provides Palantir Gotham integrates with other platforms for defense offerings which enables users to see, understand, and act in the modern battlespace; operations centers to the tactical edge; integrating data from domains and sensors in near real-time; and situational awareness and accelerating operational decision-making, as well as facilitates the hand-off between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. The company also offers Palantir Foundry, a platform that helps organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place. In addition, it provides Palantir Apollo, a software that delivers software and updates across the business, as well as enables customers to deploy their software virtually in any environment; and Palantir Artificial Intelligence Platform that provides unified access to open-source, self-hosted, and commercial large language models (LLMs) that can transform structured and unstructured data into LLM-understandable objects and can turn organizations' actions and processes into tools for humans and LLM-driven agents. The company also has a strategic partnership with Ondas Inc. to develop and deploy AI-enabled operational capabilities to scale stratospheric, aerial, and land-based ISR missions. The company was incorporated in 2003 and is headquartered in Aventura, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.5B | $1.4B | $1.6B | $2.1B | 22.0% | 56.2% | 251.6% |
| 2024 | $2.9B | $342M | $462M | $1.1B | 9.2% | 28.8% | 120.3% |
| 2023 | $2.2B | $153M | $210M | $697M | 6.0% | 16.7% | -156.1% |
| 2022 | $1.9B | $-139M | $-374M | $184M | -14.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,905.87 | 2,225.01 | 2,865.51 | 4,475.45 |
| Cost Of Revenue | - | 408.55 | 431.10 | 565.99 | 789.18 |
| Gross Profit | - | 1,497.32 | 1,793.91 | 2,299.52 | 3,686.27 |
| Operating Expense | - | 1,658.52 | 1,673.94 | 1,989.11 | 2,272.25 |
| Operating Income | - | -161.20 | 119.97 | 310.40 | 1,414.02 |
| EBITDA | - | -138.68 | 153.32 | 341.99 | 1,440.16 |
| EBIT | - | -161.20 | 119.97 | 310.40 | 1,414.02 |
| Pretax Income | - | -361.03 | 237.09 | 489.17 | 1,657.37 |
| Tax Provision | - | 10.07 | 19.72 | 21.26 | 22.72 |
| Net Income | - | -373.70 | 209.82 | 462.19 | 1,625.03 |
| Net Income Common Stockholders | - | -373.70 | 209.82 | 462.19 | 1,625.03 |
| Total Expenses | - | 2,067.07 | 2,105.05 | 2,555.10 | 3,061.43 |
| Interest Expense | 3.64 | 4.06 | 3.47 | - | - |
| Interest Income | - | 20.31 | 132.57 | 196.79 | 229.18 |
| Research And Development | - | 359.68 | 404.62 | 507.88 | 557.68 |
| Selling General And Administration | - | 1,298.84 | 1,269.32 | 1,481.24 | 1,714.58 |
| Normalized EBITDA | - | -138.68 | 153.32 | 341.99 | 1,440.16 |
| Normalized Income | - | -373.70 | 209.82 | 462.19 | 1,625.03 |
| Market Cap | 342,225 | 342,225 | 342,225 | 342,225 | 342,225 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Palantir Technologies Inc.this co. | PLTR | $336.9B | 210.60β premium | 46.33 | 22.0% | 236.80 |
| Cisco Systems, Inc. | CSCO | $344.5B | 34.54 | 7.51 | 21.7% | 23.95 |
| Lam Research Corporation | LRCX | $343.8B | 62.50 | 33.96 | 54.3% | 51.05 |
| Applied Materials, Inc. | AMAT | $335.0B | 47.29 | 16.21 | 34.3% | 33.16 |
| Arm Holdings plc | ARM | $300.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| 314.86 |
| 36.46 |
| 11.6% |
| 244.22 |
| Texas Instruments Incorporated | TXN | $251.9B | 50.43 | 15.50 | 30.7% | 31.87 |
| Arista Networks, Inc. | ANET | $222.6B | 63.44 | 18.01 | 28.4% | - |
| International Business Machines Corporation | IBM | $216.1B | 20.58 | 6.68 | 32.4% | 15.57 |
| Analog Devices, Inc. | ADI | $197.3B | 86.04 | 5.77 | 6.7% | 40.02 |
| Peer Median | - | 56.46 | 15.85 | 29.6% | 33.16 | |