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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·PLTR
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NASDAQ·PLTR
Palantir Technologies Inc.
Share price$167.32Price as of: Nov 9, 2026
Palantir Technologies Inc. (PLTR) is a company listed on NASDAQ, classified under Software - Infrastructure.
Palantir Technologies creates advanced software platforms for complex data analysis, focusing on intelligence, security, and enterprise solutions.
Revenue · FY 2025
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Sales generated during the period, before costs and expenses.
Net margin · FY 2025
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,54 come from Government Operating Segment.
Government Operating Segment is its largest source of revenue (53.7%), followed by Commercial (46.3%). Here you will see what it sells, where, and how that mix is changing.
$4,475mrevenue in FY 2025
2business lines with data
100%of sales, in Geographic Concentration Risk
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +95.9% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
A single line brings in half or more.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
Geographic Concentration Risk is its largest market, with 100.0% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
Segments add up to $4,475m more than total revenue (consolidation adjustments). Weights use the published total.
04How the mix is changing
Government Operating Segment is losing weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
FY 2024FY 2025
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
The Commercial segment, though smaller, matched nearly all the revenue increase driven by Government Operating Segment, providing 48.3% of the growth with just 46.3% of revenue.
That profit depends equally on both lines: without margin by line, the line dominant in revenue could still be most decisive for net income.
02
Dependence on government contracts is easing slightly: Government shrinks its share, and Commercial grows faster.
That diversification is already achieved: one line still outweighs all others combined, and slowdown there could still alter overall momentum.
03
The United States, though not the majority at 37.1%, drove growth much more than others (+74.7%), making it the biggest contributor regionally.
That the company depends only on the United States: concentration risk is global, and nothing suggests that US growth is stable or broadly replicable.
04
Neither any line nor region eliminates concentration risk: all sales still depend on a handful of markets.
That diversifying lines offsets geographic risk: even with other lines growing, the company carries spatial concentration as is.
Our take
Palantir is making progress on revenue diversification, yet its overall performance still predominantly depends on the Government segment and growth in the US.
- 01Our interpretation
Shift relies on the United States
Growth comes mainly from the United States, which posted the largest regional increase despite not having the largest share of revenue. Geographic presence cannot be called diversified: all sales are exposed to main markets.
What is not proven
It's necessary to know which line leaves the highest margin and whether Commercial growth can sustain momentum if Government slows.
See the calculations behind it
- Government Operating Segment brought $832.7M of the $1.6B by which revenue grew in FY 2025 (51.7%), although it weighed 54.8%. Without that line, the rest grew 60.0%.
- Dependence on Government Operating Segment falls: from 54.8% of revenue in FY 2024 to 53.7% in FY 2025.
- Geographic Concentration Risk brings 100.0% of sales. The fastest-growing region is United States: +74.7% against +56.2% overall.
- Government Operating Segment accounts for 51.7% of the change in revenue in FY 2025 and weighed 54.8%.
- Government Operating Segment weighs more than all the other lines together: 53.7% of revenue in FY 2025.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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