Palantir Technologies Inc.
Financial Performance
Palantir Revenue & Financials
Revenue
$4.5B (FY2025)
Market Cap
$447B
Net Income
$1.6B
Employees
4,429
What is Palantir's revenue?
Palantir had $4.5B in revenue for fiscal year 2025, up 56.2% from 2024. Net income was $1.6B.
- Latest revenue
- $4.5B (FY2025)
- Year-over-year
- +56.2%
- Growth rate (CAGR)
- 33.4% over 7 years
- Peak revenue
- $4.5B (FY2025)
- Years of data
- 8
- Employees
- 4,429
Financial Analysis
Palantir lost money for most of its history: it reported a $1.17 billion net loss in 2020, the year it listed. It first reached GAAP profitability in Q4 2022 and has been profitable every year since: $209.8 million net income in 2023, $462.2 million in 2024 and $1.625 billion in 2025. In Q2 2026, revenue of $1.935 billion produced a 62% adjusted operating margin and $1.22 billion of adjusted free cash flow, and the company held $9.2 billion of cash and short-term Treasuries. Full-year 2026 guidance calls for $4.5-$4.7 billion of adjusted free cash flow. Palantir Technologies Inc. is a monumental American software company specializing in massive-scale big data analytics, commanding a market valuation typically exceeding $50 billion.
Revenue Trend Analysis
YoY Change
+56.2%
7-Year CAGR
+33.4%
Peak Year
2025
Trend
Consistent Growth
Palantir Technologies Inc. has 8 full fiscal year figures on this page, compounding at +33.4% annually over 7 years. The most recent year saw a 56.2% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $4.5B. Of 7 comparable year-over-year steps, 7 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $4.5B | $1.4B | $1.6B | +56.2% | Palantir FY2025 Form 10-K, filed 2026-02-17 Fiscal year ended 2025-12-31. |
| FY2024 | $2.9B | $310.4Mfiling | $462.2M | +28.8% | Palantir FY2024 Form 10-K, filed 2025-02-18 Fiscal year ended 2024-12-31. |
| FY2023 | $2.2B | $120Mfiling | $209.8M | +16.7% | Palantir FY2023 Form 10-K, filed 2024-02-20 Fiscal year ended 2023-12-31. |
| FY2022 | $1.9B | -$161.2Mfiling | -$373.7M | +23.6% | Palantir FY2022 Form 10-K, filed 2023-02-21 Fiscal year ended 2022-12-31. |
| FY2021 | $1.5B | -$411Mfiling | -$520.4M | +41.1% | Palantir FY2021 Form 10-K, filed 2022-02-24 Fiscal year ended 2021-12-31. |
| FY2020 | $1.1B | -$1.2Bfiling | -$1.2B | +47.2% | Palantir FY2020 Form 10-K, filed 2021-02-26 Fiscal year ended 2020-12-31. |
| FY2019 | $742.6M | -$576.4Mfiling | -$579.6M | +24.7% | Palantir FY2020 Form 10-K (prior-year comparatives), filed 2021-02-26 Fiscal year ended 2019-12-31. |
| FY2018 | $595.4M | -$623.4M | -$580M | — | Palantir FY2020 Form 10-K (prior-year comparatives), filed 2021-02-26 Fiscal year ended 2018-12-31. Figures also disclosed in the 2020 Form S-1. |
Click any row to see year details.
Palantir Technologies Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $2.1B | $33.9M | $8.9B | $1.4B | $7.4B | $2.1B | Form 10-K |
| FY2024ended Dec 31, 2024 | $1.2B | $12.6M | $6.3B | $1.2B | $5B | $1.1B | Form 10-K |
| FY2023ended Dec 31, 2023 | $712.2M | $15.1M | $4.5B | $961.5M | $3.5B | $697.1M | Form 10-K |
| FY2022ended Dec 31, 2022 | $223.7M | $40M | $3.5B | $818.8M | $2.6B | $183.7M | Form 10-K |
| FY2021ended Dec 31, 2021 | $333.9M | $12.6M | $3.2B | $956.4M | $2.3B | $321.2M | Form 10-K |
| FY2020ended Dec 31, 2020 | -$296.6M | $12.2M | $2.7B | $1.2B | $1.5B | -$308.8M | Form 10-K |
| FY2019ended Dec 31, 2019 | -$165.2M | $13.1M | $1.6B | $1.4B | -$2B | -$178.3M | Form 10-K |
Keep researching Palantir
Palantir Revenue and Financial FAQ
What is Palantir's annual revenue?
Palantir reported FY2025 revenue of $4.475 billion, up 56% from $2.866 billion in 2024. It guides to $8.150-$8.158 billion for 2026, about 82% growth.
Is Palantir profitable?
Yes. Palantir has been GAAP-profitable every year since 2023: net income was $209.8 million in 2023, $462.2 million in 2024 and $1.625 billion in 2025. Q2 2026 net income alone was $1.062 billion, a 55% margin.
How is Palantir's revenue split between government and commercial?
In Q2 2026, government revenue was $990 million (up 79%) and commercial revenue was $945 million (up 110%). U.S. commercial revenue, the fastest-growing piece, was $764 million, up 149%.
How much cash does Palantir have?
Palantir held $9.2 billion of cash, cash equivalents and short-term U.S. Treasuries at June 30, 2026. It guides to $4.5-$4.7 billion of adjusted free cash flow for 2026.
How many customers does Palantir have?
Palantir had 1,049 customers at June 30, 2026, up 24% year over year, including 653 U.S. commercial customers.
When did Palantir join the S&P 500?
Palantir joined the S&P 500 on September 23, 2024, and moved its listing from the NYSE to Nasdaq in November 2024.
What is Palantir's Rule of 40 score?
Palantir reported a Rule of 40 score of 155% in Q2 2026, combining 93% revenue growth with a 62% adjusted operating margin.
What is Palantir's Rule of 40 score and how does it compare across the software industry?
Palantir consistently achieves an elite Rule of 40 score exceeding 55% to 65% (combining over 27–30% year-over-year revenue growth with an adjusted operating margin exceeding 35–40%), placing it among the most financially efficient enterprise software companies in the world.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Palantir Revenue & Financials." CorpDigest, https://corpdigest.com/company/palantir/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Palantir reported $4.5B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/palantir/financials" target="_blank" rel="noopener">CorpDigest — Palantir financials</a></div>Related Financial Audits
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