Palantir Technologies' revenue 2008-2023

Palantir Technologies Inc. is a software company specializing in big data analytics. Its name is derived from J.R.R. Tolkien’s Middle Earth universe, specifically The Lord of the Rings. In 2020, the American company raked in more than one billion U.S. dollars in revenue for the first time, which increased to 2.2 billion U.S. dollars in 2023.

The net losses mystery

Despite the increased revenue, the company has recorded significant losses throughout the years. Since 2018, Palantir’s losses have amounted to approximately three billion U.S. dollars – with losses exceeding one billion U.S. dollars in 2020. One possible explanation for the contrasting lack of profit and increase in revenue is that the company is dependent on fundraising, meaning that it loses and raises money simultaneously. Another reason could be the expensive free trials that Palantir provides its customers. Since 2021, however, Palantir's net losses declined and reached a net income exceeding 217 million U.S. dollars in 2023.

Palantir Gotham

Gotham is an AI-ready operating system used for military missions and one of the company’s most famous products. In 2023, a total of 77 companies were using Gotham just in the U.S., the majority of them being either tech or governmental companies. Gotham has been powering the U.S. Army Vantage platform since 2019, which comes as no surprise since Palantir’s collaboration with the U.S. Army goes back to 2009.