A software company that helps governments and businesses integrate data, make decisions, and operate complex systems using AI and analytics.
★★★★★
★★★★★
★★★★
Very Strong
What Palantir does
Palantir develops software platforms that integrate data, analytics, AI, and operational workflows for government agencies and commercial organizations.
Founded
2003
Aventura, Florida
CEO
Alexander C. Karp
Since 2005
Market cap
$466.48B
29
Revenue (FY25)
$4.47B
+56.2% YoY
30-Second Summary
A plain-English explanation of Palantir's business model
If you only remember one thing
Palantir sells software that helps organizations bring together data from different systems, understand what is happening, and turn that information into decisions and operational actions. Government customers use Palantir for areas such as defense, intelligence, and public-sector operations, while commercial customers use its platforms across industries including manufacturing, healthcare, energy, finance, and other complex operations. Palantir increasingly uses artificial intelligence through AIP to help organizations build AI-powered workflows and applications on top of their data.
Business Segments
Where Palantir's $4.47B Fiscal year 2025 (ended December 31, 2025) comes from
$4.47B
Fiscal year 2025
54% of revenue ·+53% YoY
46% of revenue ·+60% YoY
Palantir operates through two reportable segments: Government and Commercial. Government serves U.S. and non-U.S. government agencies, while Commercial primarily serves organizations in non-government industries.
Fiscal year 2025 ended December 31, 2025. Government generated $2.402B of revenue and Commercial generated $2.073B. Percentages below are calculated against total reported revenue of $4.475B.
Business Model
How Palantir makes money — the ecosystem flywheel
Integrate Data & Operations
Deploy Software & AI
Strengths & Risks
What makes Palantir strong — and what could go wrong
Exceptional Growth
Palantir generated $4.475B of revenue in FY2025, up 56% from FY2024, while 2026 results continued to show very strong growth.
Deep Government Relationships
Palantir has built long-term relationships with government organizations and develops software for complex defense, intelligence, and public-sector operations.
Growing Commercial Business
Commercial revenue has become a major part of the business, expanding Palantir's opportunity beyond government customers.
AI Platform Advantage
AIP allows organizations to connect modern AI models and AI-powered workflows with their operational data and existing Palantir platforms.
Strong Cash Generation
Palantir generated $2.134B of operating cash flow in FY2025 and approximately $2.101B of calculated free cash flow.
Financial Overview
Fiscal year 2025 (ended December 31, 2025)
$4.47B
+56.2% YoY
FY25
$1.64B
+249.3% YoY
FY25
$2.1B
+84.1% YoY
FY25
Palantir generated $4.475B of revenue and $1.635B of net income in fiscal 2025. Operating cash flow was $2.134B, while purchases of property and equipment were $33.882M, producing approximately $2.101B of calculated free cash flow.
Financial History
5-year reported trend, fiscal years 2021–2025; free cash flow is calculated as operating cash flow less purchases of property and equipment
$4.47B
+190% since FY21
Business Ecosystem
Who Palantir depends on — and who depends on Palantir
Government Organizations
Defense, intelligence, and other government agencies use Palantir software for complex data, analysis, planning, and operational workflows.
Commercial Enterprises
Companies across industries use Palantir platforms to connect operational data, improve decision-making, and build software-driven workflows.
AI & Technology Ecosystem
Cloud providers, AI model providers, technology partners, and other infrastructure companies can connect with Palantir's platforms and customer workflows.
Palantir
Data & AI software company
Competitors
Companies used as broad comparison references for Palantir's data, analytics, AI, cybersecurity, and enterprise software businesses. Because Palantir combines government software, commercial data platforms, and AI applications, no single company is a perfect one-to-one competitor. Market caps use October 7, 2026 snapshots.
CrowdStrike
$272.38B
Large AI-enabled software company focused on cybersecurity and cloud security, providing a useful comparison for Palantir's enterprise software and AI positioning.
ServiceNow
$142.54B
Large enterprise software platform that helps organizations manage complex workflows and operations, providing a useful comparison for Palantir's operational software model.
Snowflake
$117.31B
Oracle Corporation
Provides cloud infrastructure, enterprise software, databases, and business applications used by organizations worldwide.
Salesforce, Inc.
Builds cloud software that helps businesses manage customer relationships, sales, service, marketing, commerce, data, and AI-powered workflows.
