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Palantir lifted its 2025 revenue guidance after Peter Thiel’s data intelligence company notched up rapid growth in sales to companies and the US government in the third quarter.
The group on Monday boosted its 2025 sales guidance to about $4.4bn from a previous estimate in August of $4.15bn. The figures exceeded Wall Street’s forecast in a Bloomberg poll of $4.17bn.
Palantir said its revenue in the third quarter soared 63 per cent from the same period in the previous year to $1.18bn, while net income climbed to $476mn, beating analysts’ expectations of $435mn.
US commercial revenues climbed 121 per cent to $397mn, while US government sales increased 52 per cent to $486mn.
The company’s shares have risen more than 170 per cent this year as of Monday’s closing price, on top of a blistering 340 per cent rally last year, bringing its market capitalisation close to $500bn and making it a top-10 tech company by market value. They rose slightly in choppy after-hours trading on Monday afternoon in New York.
Palantir, which was founded in 2003 by chief executive Alex Karp, Thiel and others, sells AI software to businesses and governments around the world. Its technology is used to collate and analyse data, from supply chain analysis to surveillance of military targets and identification systems for undocumented immigrants.
This is a developing story.
