Company profile
SEC EDGAR ↗- Industry
- Services-Prepackaged Software
- Listed
- Nasdaq: PLTR
- Headquarters
- Aventura, FL
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $4.48B
- Net income
- $1.63B
- Total assets
- $8.90B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $4.48B | $1.63B | $8.90B |
| FY2024 | $2.87B | $467.9M | $6.34B |
| FY2023 | $2.23B | $217.4M | $4.52B |
| FY2022 | $1.91B | −$371.1M | $3.46B |
| FY2021 | $1.54B | −$520.4M | $3.25B |
| FY2020 | $1.09B | −$1.17B | $2.69B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Money Machine · Business Model
Palantir's Sole-Source Fortress Holds Only as Long as the Politics Do
Everyone calls Palantir's government business an uncancellable fortress. Its own SEC filings say the opposite: most contracts can be killed for convenience. The real moat is a sole-source justification that holds only as long as the politics do.
8 min
The Money Machine · Business Model
Palantir Turned 75 Army Contracts Into One $10 Billion Deal — the S-1 Named the Play
Everyone reads Palantir's government deals as a sales win. They're a structural one. The S-1 names the model out loud - 'Acquire, Expand, and Scale' - and it just turned 75 Army contracts into a single $10 billion enterprise agreement.
8 min
The Crisis Response · Crisis & Reinvention
Palantir Promised in Writing It Would Not Build for ICE. Then It Did.
In 2020 Palantir told Amnesty International it had 'purposefully declined' contracts with ICE's enforcement arm over human-rights risks. Under Trump's second term it took a $30M contract to build ImmigrationOS - and the controversy isn't a scandal so much as a documented U-turn.
8 min
The Culture Doctrine · People & Control
Palantir Runs Its Culture Like a Cult on Purpose — and It Functions as a Switching Cost
Palantir calls itself anti-woke, tribal, and cultish on purpose — Karp says he keeps it 'as tribal and cultish as it was 20 years ago.' The contrarian culture reads like founder idealism. It works like a switching cost no rival can replicate.
8 min
The Culture Doctrine · People & Control
Palantir Built a Company Around a Manifesto. The Manifesto Is Also the Risk.
Palantir's culture isn't a perks page - it's an ideology that screens employees, customers, and contracts. It grew a 313-person startup into a $4.5B defense machine. It also got the company sued by the Department of Labor and alienates half its commercial market.
8 min
The Moat Anatomy · Moat & Competition
Palantir's Clients Can Cancel for Convenience — Seven Years of NHS Data Speak Only Palantir
Everyone says Palantir's government clients are locked in forever. Its own SEC filings say the majority of those contracts can be cancelled for convenience. The real moat is stranger than permanence: seven years of NHS patient data that only speaks Palantir.
8 min
The Moat Anatomy · Moat & Competition
Palantir's real moat is a court ruling that forces the Pentagon to evaluate it
Everyone thinks a CIA-funded surveillance machine protects Palantir. The deeper protection is a 2016/2018 court ruling that legally forces the Pentagon to evaluate it — plus a data layer that makes ripping it out economically irrational. The CIA put in roughly $2 million.
8 min