Palantir Technologies

Overview

Palantir sells four software platforms: Gotham, Foundry, Apollo and its Artificial Intelligence Platform (AIP), which it describes as its generative AI platform^[8]. Revenue in 2025 was US$4.48 billion, made up of US$2.40 billion from government customers and US$2.07 billion from commercial customers^[8]. Foundry supplies the data layer, the Palantir Ontology, which maps an organisation’s data, logic and actions; AIP lets customers connect large language models to that layer so that models act on operational data rather than on documents alone^[8]. Palantir was founded in 2003 and began by building software for the US intelligence community^[8]. Its 10-K lists principal executive offices in Aventura, Florida, and 4,429 full-time employees at the end of 2025^[8]. The company depends heavily on public-sector contracts, which are subject to budget cycles and political scrutiny.

Palantir Technologies strengths and limitations

Strengths

Strong record in defence, intelligence and public-sector analytics
Combines data integration, analytics and AI deployment in one stack
Fastest revenue growth among the listed companies here
Fastest growth in the ranking
Market value above IBM's
Profit margin of 44%

Limitations

Government customers supplied 54% of 2025 revenue
Long, high-touch sales and deployment cycles
Proprietary platform with significant lock-in
Valuation very high relative to sales
Government customer concentration
Smaller sales than peers of similar value

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