Palantir Technologies Strengths, Domain Expertise, and Key Differentiators
Palantir Technologies stands out in the realm of big data analytics due to several key strengths. Its domain expertise is unparalleled, demonstrated through projects like Palantir Gotham, which aids counter-terrorism analysts within the US Intelligence Community and Department of Defense, as well as past implementations in fraud investigation and cybersecurity.
Palantir's product portfolio is diverse and tailored to specific industry needs, with offerings like Palantir Apollo catering to the financial sector and Palantir Foundry serving corporate giants like Morgan Stanley and Airbus. Palantir features within its platforms enhances data analysis and decision-making processes, further solidifying its position as a leader in the analytics software market.
Palantir Technologies Recent Developments
In 2023, Palantir Technologies, is poised at the forefront of technological evolution with the imminent launch of their Artificial Intelligence Platform (AIP).Emphasizing the importance of foundational data platforms to uphold legal, ethical, and regulatory standards,AIP will allow customers to leverage the power of our existing machine learning technologies alongside the increasingly sophisticated natural language processing capabilities of the newest large language models, directly in our existing platforms, including Foundry and Gotham, which are now home to some of the most valuable privately held and industry specific data repositories in the world.The first version of AIP, which will constitute our fourth platform after Gotham, Foundry, and Apollo, is currently under development and will be available to an initial set of strategic partners in the coming weeks and no later than the end of May.
In July 2021, Palantir Technologies Inc. and the U.S. Department of Health and Human Services has renewed its commitment to working with Palantir to support COVID-19 vaccine distribution for another year.
Palantir Technologies (PLTR) intends to list its Class A shares in a direct listing of its Class A common stock, according to an S-1 registration statement. The firm provides defense and intelligence analysis software to the U.S. government as well as integrated data capabilities to major enterprises.
PLTR has grown its topline revenue and gross profit but has swung to operating losses and cash burn. Palantir has received at least $2.1 billion from investors including Founders Fund, SOMPO Holdings, Disruptive Technology Solutions, UBS, and 8VC.
The firm's software is used by companies and governments in 36 industries and in over 150 countries. Palantir sells its software via an in-house direct sales force primarily to large enterprises and western governments and allies. The company does not sell its software to adversaries of western governments.
Sales and Marketing expenses as a percentage of total revenue have been dropping as revenues have increased.
Palantir Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Palantir Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Palantir Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Palantir Gotham, Palantir Foundry, Palantir Apollo, Palantir Platform customers.
Palantir Technologies Overview
1200 17th Street Floor 15
Denver, CO, 80202, United States
1 720-358-3679
https://www.palantir.com/
Ownership: - NYSE:PLTR
Number of Employees: 3735
Functional Markets: Analytics and BI, ERP Services and Operations,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Consumer Packaged Goods, Distribution, Federal Government, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Palantir Technologies Key Enterprise and Cloud Applications
Palantir Gotham, Palantir Foundry, Palantir Apollo, Palantir Platform
Palantir Technologies Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Palantir Technologies Revenue Breakdown By Type, $M:
Palantir Technologies Enterprise Applications Revenues By Functional Markets, $M:
Palantir Technologies Enterprise Applications Revenues By Verticals, $M:
Palantir Technologies Revenues By Region, $M
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Palantir Technologies Direct vs Indirect sales
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Palantir Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Palantir Technologies Customers
No. of Palantir Technologies Customers: 497
No. of Palantir Technologies Enterprise Applications Customers: x
No. of Palantir Technologies Cloud Customers: x
No. of Palantir Technologies Cloud Subscribers: x
In 2023, Palantir Technologies boasted a diverse clientele of 497 customers spanning various sectors and regions. Notable references among them include: Concordance Healthcare Solutions, Swiss Re, Sonnedix, Axel Springer, and Kinder Morgan. This clientele showcases Palantir's broad appeal across different industries, with a strong presence in sectors like healthcare, insurance, renewable energy, media, and energy infrastructure.
Palantir Technologies customers steadily increased from 125 to 149 during the period Q2 2020 to Q1 2021. Similarly, there was an increase of 6% between Q2 2020 and Q3 2020 when the number of customers increased from 125 to 132. Gotham and Foundry enable these institutions to transform massive amounts of information into an integrated data asset that reflects their operations. Users can build on top of this asset to make data accessible and actionable. Our platforms enable people, whether they are workers on an assembly line or soldiers in the field, to work with data, even if they have never written a line of code.
Palantir's software is used by customers across 36 industries and in more than 150 countries. Their government work is central to defense and intelligence operations in the United States and its allies abroad. On the commercial front, Palantir works with some of the world’s most durable and important companies across industries, including in the energy, transportation, financial services, and healthcare sectors. And our market opportunity is significant. Estimating the total addressable market to be approximately $119 billion across the commercial and government sectors.
The scale of partnerships with customers, in revenue terms, has also grown over time. In 2019, our average revenue per customer was $5.6 million, and the average revenue per customer for their top twenty customers was $24.8 million.
Palantir Technologies Market Opportunities, M&A and Geo Expansions
Palantir Technologies launched Foundry for Builders, an initiative dedicated to supporting early-stage companies by providing them with the Palantir Foundry platform, helping support their growth. For Palantir, Foundry for Builders marks a continued expansion of its business beyond large organizations with complex data environments to younger companies.
In December 2019 Palantir has been granted a Federal Risk and Authorization Management Program (FedRAMP) authorization by the United States Government.
FedRAMP is a government-wide program that standardizes the approach toward security assessment, authorization, and continuous monitoring for cloud-based products and services. As more federal agencies make their move to the cloud, regulators created the FedRAMP program to authorize specific cloud-based service providers who meet their stringent guidelines to assist agencies with this transition. With this newly granted authorization, Palantir is accredited by the US Government to provide its proven data integration, analytics, and operational platforms to federal agencies.
Palantir’s new FedRAMP offering, the Palantir Federal Cloud Service (PFCS), was configured to meet FedRAMP and DISA IL-5 requirements. This was done in partnership with the Department of Health and Human Services (HHS), who served as Palantir’s sponsor through the authorization process.
The firm's software is used by companies and governments in 36 industries and in over 150 countries. Palantir sells its software via an in-house direct sales force primarily to large enterprises and western governments and allies. The company does not sell its software to adversaries of western governments.
Sales and Marketing expenses as a percentage of total revenue have been dropping as revenues have increased.
Palantir Technologies Risks and Challenges
Palantir Technologies faces a myriad of risks, both internal and external, alongside notable go-to-market challenges. With consistent losses since its inception, the company's operating expenses may escalate, potentially impacting future profitability. There's a looming concern about sustaining revenue growth rates in the future, adding pressure to meet investor expectations.
Palantir encounters significant hurdles in its sales efforts, marked by lengthy and unpredictable sales cycles, which demand substantial time and resources. These risks underscore the need for strategic planning and agility to navigate the complex landscape ahead.
Palantir Technologies Ecosystem, Partners, Resellers and SI
In 2024, Palantir Technologies continues to expand its ecosystem through strategic partnerships aimed at advancing scientific research and precision medicine. Their recent collaboration with the University of Colorado Anschutz Medical Campus to establish the Center for Linkage and Acquisition of Data (CLAD) under the National Institutes of Health’s All of Us Research Program exemplifies this commitment. The CLAD center serves as a pivotal hub connecting diverse data sources to the vast pool of participant data within the All of Us program.This partnership underscores Palantir's role in facilitating collaborative endeavors that harness the power of technology to drive innovation in healthcare and scientific discovery.
In 2023, Palantir Technologies has solidified its global reach through a strategic partnership with Fujitsu Limited and Palantir Technologies Japan KK (Palantir Japan), aiming to tackle societal challenges and catalyze business transformation.This collaboration, set to commence services in Japan during the 2023 fiscal year and expand to North America, Europe, and Asia-Pacific by fiscal 2024, underscores Palantir's commitment to driving innovation and addressing pressing global issues. Fujitsu's expertise and extensive customer base, combined with Palantir's technological prowess, promise to deliver impactful solutions across industries ranging from manufacturing to public services, amplifying revenue growth and solidifying Palantir's position as a key player in the global market.
AlixPartners and Palantir Technologies made a strategic partnership designed to unlock and accelerate their clients’ use of data to drive outsized results. The partnership will combine AlixPartners’s world-renowned strategic and operational consulting services with Palantir’s cutting-edge Foundry software platform to help a wide array of companies address some of the most complex and critical challenges facing the modern enterprise.
In October 2021, Palantir Technologies Inc. has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program. Palantir was selected to progress to the next phase of the Army’s competitive $823m indefinite delivery, indefinite quantity (IDIQ) contract. After collaborating with the Army on a successful “Test, Fix, Test” process, Palantir will support the Army as they proceed through final testing and fielding.
Palantir Technologies and Grupo Globo extended their partnership for two more years. In its journey toward becoming a media-tech company, Globo teamed up with Palantir in 2019 to use its Foundry software, which transforms the way organizations operate by creating a central operating system for their data, leading to better decisions across the enterprise.
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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