Palantir (PLTR) 6 May 242024 Q1 Earnings call transcript

Good afternoon. I'm Ana Soro from Palantir's finance team, and I'd like to welcome you to our first quarter 2024 earnings call. We'll be discussing the results announced in our press release issued after the market closed and posted on our Investor Relations website.

During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our second quarter and fiscal 2024 results, management's expectations for our future financial and operational performance and other statements regarding our plans, prospects and expectations.

These statements are not promises or guarantees and are subject to risks and uncertainties, which could cause them to differ materially from actual results. is market our our closed risks distributed press SEC those the after today concerning available earnings in release filings. Information and in as no by undertake obligation update statements, We to law. except forward-looking required

adjusted addition course isolation of from or measures we to non-GAAP Further, during as financial considered a today's These in the measures. be in not will GAAP call, refer measures. certain to, should for financial substitute

included comparable in non-GAAP these including reconciliation GAAP measures, investor measures to provided is press Additional information about presentation our of a and release non-GAAP today.

and Our investor earnings release, on press available our Relations presentation investors.palantir.com. other at materials website are Investor

course of the These to our will refer business. various growth rates reflect Over unless call, when comparisons discussing the rates year-over-year we stated. otherwise

call Sankar, Alex Officer; Chief are Executive Revenue Taylor, Glazer, Dave Officer. today's Chief Officer; Officer; and Chief Shyam and Financial Ryan Officer Chief Karp, me Joining Legal Technology Chief on

Ryan the it turn start call. to now over I'll to

million, strong our We of continued started and exceedingly in driven year strong AIP XX% the of performance with U.S. an the of year-over-year commercial. increase by momentum $XXX revenue

is the I'm also customer We've continued is our growing market the interest our shared show and is plans and AIP results of the government business our highlight that our strategy and work. our in results Our only loud in to capture clear The having accelerating. U.S. it across enduring conversations mission-critical strength our succeeding, base. with AIP, not

are as pleased products new the continue and increasing long-term of ability expanding new meaningful customers, days, subsequently gain We early grow customers is these our While still our to Not volume but within relentlessly well. customers engagements enterprises. have of building our new focus landing traction as I'm only impact those business. foundations with we on intend to the a and

landing over sustained meet organizations demand. of regards with inbound With new camps date XXX our to customers, we've volume boot high participating to to

cycle seeing compression. substantial are deal also We

a signed days leading boot utility completing As a example, X-figure company, camp. after X deal one a just

of their to deal customer paid Another signed camp converted a X immediately boot X-figure multi-day just one weeks later. and day then engagement after a

the We to business. throughput unit continue economics to our higher expect accelerate favorable and

commercial the U.S. seeing we're greatest transformation. is where

by slowest is notable customer QX our seasonally U.S. in AIP our commercial. added and customers new business. adoption we drive customers quarter, revenue U.S. and acquisition growth helped existing new commercial XX in In QX, net While in

count XXXX. increased QX customer quarter-over-quarter, to year-over-year quarter-over-quarter Our XX% XX% growth and compared X% in

by and strategic quarter-over-quarter. Excluding investments, soared U.S. revenue commercial XX% XX% year-over-year our

seem from span the commercial bottling U.S. New XX customers infrastructure customers applications endless, industries, airline. In independent to leading gigs XX from the had business a company a AIP's in largest the company a our as U.S. QX, and variety of and multinational industries. of energy

possibilities such of Clinic Across increasing We're work move us. As can scope beyond Mills, among my more, extensive new their and expanding seeing and with also the customers, realizing I've asking we're faster are landing theme Lowe's, enterprises showing their transformations recurring their those enterprise with others, seen by customers strategy General as AI. how their AIP of do how can AI they driven chat. with customers Existing Cleveland them the they conversations within own them customers, we're accordingly. me

X one XX% just weeks customer "We in this noted, tasks, rollout". point engagement to of level users service reduction within as accelerated X,XXX for from AI overdue production months of and Lowe's over resulting starting onboarded in directors agents, of its its a no AI a X,XXX utilizing X in achieved

as deployed Senior "We're last $XX to its as average it's to really annually, network Cleveland the quarter million Clinic to we deal a saving its expanded noted, Director and expansion about our committed General of speak". work deploy more broadly across only XX-year Mills hospitals. its further part scope of on

seeing accounts. expansions within customer rapid We're key

and For work A increased our a in use fivefold to and last million expanded our its which to to software us work their QX them rate These the and example, annual case company pilot engagement just retail of compared work revenue conversion few within $XX nearly quarter. are XXX enterprise signed Fortune expanding Fortune examples. XXX their expanded a More run deal, has them traction industrial engagement company with incredible XXXX. with the in with ACV AIP in organizations. August started expansion X-year to XXXX, a a our a are customers a due initial more

Turning business. to U.S. our government

versus current quarter-over-quarter world last quarter, products critical X% positive see reception Mission Breakfast. events. and Manager our with every accelerate QX, increasing day for X% having to continued We to continued in revenue on First quarter-over-quarter Our impact demand

won were the TITAN program. This U.S. next-generation million that company time awarded quarter, $XXX Army prime honored has a we a first under Palantir, Last the the sole build contractor be the to for software and for targeting over to reference building the prime, capabilities maturing node fighters. opening door as Palantir's opportunities. war immense approach system exemplifies new our with software vast our is contract a prime we revolutionary It hardware position a and to that marks the

as international are of capabilities to continuing around for Partners well the as business, ramp work to we government up delivery critical the U.K. our federated data Allied providing NHS In the world. platform defense

ahead. business impact our the about broadly, invigorated year its and Looking I'm at

power We our the AIP and more around globe. as missions efforts most of conviction the our have critical the never about well continued had supporting software as

to turn Shyam. now I'll over it

are same is done The or in a so Thanks, AIP without. X point. or customers camps anecdotes AI quarter from day getting in Ryan. many is signal than, clear reinforcing in more AIP X boot quotes and builders, for a They from that all the

insurance of records in to a the government inputs oriented an turning getting and denial and around LOMs inventory at in programmatically candidate to e-mails, practical chat structured every and contracts; AIP, documentation outbreaks claims unlocking outputs; on it CDC; a with of and reference enterprise, builders and rolling inherently taking clinical approach in and Build we flying developer narrow series system customer unlock power models value be images, an actual the P&C into the health the quickly even foodborne automating that tutorials pioneered and beyond audio implementations generating enterprise, supporting customer. and primitives started have have products a mix out the ramp vision using Slacks, and driving and allocation the and and from different evidence processing builder are employee that claims every of requesting We enable comments, AIP unstructured to at the it examples actions PDFs, the taking turning into product ERP them taking from e-mail of record; a that and

the half X Army Airborne for these and momentum, have projects amongst is builders. growth by Carnegie the Mellon, and their of and U.S. launched identifying as X Vantage in for the of platforms dynamism a boot government. camps total market, The Intelligence Our OSDK. recently follow. AIXC U.S. platforms Artificial leverages the AIDP builder we we memo driven XXth core systems, the Army's believe built approved will being The Army issued application active Palantir incredible with for Center, commercial the government U.S. With Integration this at recently U.S. U.S. an

into with hackathon joint X-hour or and a have One hosted XX assist all-domain showing pioneering. workflow that seconds. we control SDK the nominating GAIA JADCX the command recently turns participant been customer DoD a value targets Our of open commented,

it be and Edge in We infrastructure government. continue edge with to Manager, invest the we'll Mission extending and X our U.S. to

ecosystems. applications tech use customers manage edge an continuously apps. and instance Now from multivendor pipelines, centrally and big as edge third-party can their and platforms, environment for Gotham cloud streaming OSDK-backed everything It native deploy development integrated test applications, build, covers

excited company will hardware Army's star target this role firmly program. prime. has every believe cockpit, every are won the time a software in ship. partners our contract, core We establishing the This on the and software team Titan the the of deliver critical marks of a first with be vehicle every of workbench rock software to We U.S.

Finally, and investments in even against we're attack faster. I'd the service our eye-watering massive even moment Gotham building acknowledge meeting Israel. of the more to The and defending in like JADCX allies on the Iranian performed excellently, our members work

I'll turn take the Dave us to it through over to numbers.

Shyam. by the Government first generating XX% in year. commercial of in of Thanks, and GAAP U.S. reacceleration our start strong $XXX year-over-year Revenue growth consecutive delivered our was profitability, driven a a business. AIP the the We U.S. million our in QX to and in a quarter, quarter income momentum business record accelerated net first to sixth quarter. GAAP

third GAAP the of first We also GAAP to our quarter. quarter XXXX consecutive of fifth unit $XX expanding Rule our a from of margin income a profit, Score. strong was first business. The the fourth XXXX. sequential of quarter of Score operating XX and quarter continuing million the to of the the profitability in to drove Adjusted generating XX of to expanded X-point consecutive XX an in outperformance This the our highlight economics of XX% quarter in XX in delivered increase operating record revenue Rule operating quarter

global XX% of X% end Turning up year-over-year the our first top exceeding and $XXX our million guidance. in line We the quarter, in results. revenue to high generated sequentially, prior

sequentially. revenue revenue grew and impact the and largest continues from Revenue commercial Customer expand. of Excluding XX% to from year-over-year quarter XX% count our sequentially grew customers. strategic XXX customers XX% year-over-year first X% to contracts,

XX-month trailing X% per year-over-year to XX customers $XX our increased quarter customer. top revenue First million from

segment. commercial our to moving Now

to year-over-year $XXX million. and quarter sequentially First commercial revenue XX% grew X%

revenue commercial a XX% impact Excluding and grew had We strong X% strategic first year-over-year of quarter very contracts, from sequentially. quarter commercial bookings. the commercial

million, commercial was growth $XXX TCV quarter XXX% booked a representing First year-over-year.

continues Our by see AIP. driven U.S. commercial business momentum unprecedented demand to from

surpassing revenue for XX% grew million, time. commercial quarter First U.S. and revenue commercial to the international XX% sequentially $XXX first year-over-year

Excluding revenue from strategic commercial contracts.

commercial U.S. customer growth existing quarter, driving business commercial XX% and the is U.S. new of In U.S. conversions booked XX% revenue year-over-year. commercial million year-over-year $XXX grew grew Total first XX% representing U.S. quarter in and the AIP customer year-over-year and First remaining value TCV, our in sequentially. we XXX% deal expansions sequentially. XX% both

first growth XXX grew count quarter. generated commercial result the we sequentially. We up revenue year-over-year continued revenue sequential XX% year-over-year last XX% growth XX% million customer but commercial representing a catch Europe U.S. in X% international the customers, growth in decline and $XXX headwinds and noted QX in in reflecting that to of a quarter, as Our

to Revenue opportunities quarter. customers to East was $X XXXX. the decline and We $XX continue from from strategic to second Asia, $X these in capitalize XXXX contracts to quarter million commercial in million to on the million targeted revenue quarter between second $XX growth in beyond. We anticipate million Middle of compared the

full anticipate these of approximately Government to to continue our be XXXX customers We from X% year revenue. Shifting to revenue segment.

First quarter $XXX million. year-over-year XX% grew to and X% government sequentially revenue

grew million. revenue XX% government year-over-year sequentially and U.S. X% quarter to First $XXX

XXXX. and well we're government positioned the believe opportunities. noted, to be prime we'll over Ryan We growth the course continue business to pursuing of our Titan program, under sole the see we're U.S. As contractor other defense in excited

XX% to grew that revenue government year-over-year and international last revenue in sequentially catch-up quarter as the a declined million in result Europe. continued noted quarter First and of X% $XX QX headwinds we

up TCV customers acquired QX increase Net increase basis last an by booked million, existing last retention quarter. and dollar driven both year-over-year. XXX%, new quarter First was points $XXX XXX% customers at The of from year. expansions was XXX in of was

billion dollar capture in the acceleration new year-over-year $X.X ended that net increase year-over-year and sequentially. not an months, sequentially retention in and billion business past past the include not value, commercial revenue first X% XX and $X.X obligations, from with of of XX% acquired customers velocity U.S. As fully it does an does our over in are the year. We performance XX% the in deal yet total increase remaining of quarter remaining X%

convenience RPO which of than our into fall contractual an our account obligations a does that as beyond contracts is term take of comprised months of initial it are most clauses, not with business. less reminder, business, XX for common and in of commercial both termination government As primarily

excludes margin expense. up Turning expense from $XXX million, million, to for X% expense, year-over-year. payroll adjusted income taxes and related adjusted was sixth and representing consecutive was adjusted margins. and the sequentially compensation an XX% the quarter XX% of which operating employer margin, stock-based QX operating X% $XXX expanding which marking of expense quarter. excludes and stock-based Adjusted margin was Adjusted compensation gross operations,

Turning the to the balance of year.

opportunities. business, expansion, conviction to margin coupled in our our in investment U.S. intend the with U.S., defense boost an the resources including AIP specific in Given we and

GAAP expect and order below in growth operating expense fifth expanding on income. In we ramp sustained GAAP to XX% consecutive the first income million, net year GAAP back $XX GAAP and in full we representing growth quarter, generated income our a quarter focused margins. representing of GAAP operating margin, profitability. the half of starting year, delivering quarter our of of operating on the the goal continue operating million, remain fourth While through of QX XX% profitability we revenue consecutive GAAP a of to calibrating expenses consecutive generated our for quarter We first income of margin, GAAP sixth quarter $XXX

GAAP share adjusted was quarter per share earnings First was $X.XX. earnings $X.XX and per

revenue to from our to the Additionally, adjusted XX% operating the Rule increase a margin combined in X-point and XX first our growth quarter. Score prior accelerated quarter, of

to of line will maintain We continue this performance. to balance strive top bottom and exceptional

our to repurchase first quarter, XX%, also X.X million Turning program. part we of $XXX $XXX as adjusted in cash approximately share free from XX% shares a million In our generated cash flow, repurchased representing flow. and the operations we and margin million cash respectively. In QX, in of

We cash cash, the securities. revolving credit and remains the authorization. of $XXX our of have entirely access We end original quarter liquidity additional ended U.S. the of As short-term up facility, we to $X.X remaining undrawn. which million treasury retain XXX million in of the with to quarter, equivalents billion through approximately

outlook. Now our turning to

revenue between income operations For QX and $XXX of million from $XXX million. XXXX, we and expect of $XXX million $XXX and million adjusted between

are billion. full guidance year to XXXX, raising For revenue between and our billion $X.XXX $X.XXX we

revenue rate of U.S. a million, guidance at least XX%. excess our raising are of commercial an $XXX We growth to representing

to We $XXX between our income are guidance adjusted raising million operations from $XXX million. and

will expect and between operating we billion, continue $X quarter the turn of a for off year. With in Ana continue adjusted it $XXX then this that, and Alex We cash of few remarks, I'll million Q&A. kick and to flow GAAP income to income expect net over and each to free

Welcome to earnings. our QX

the I it is crushed to U.S. fair say in think QX we

are fire. on We

if [ You see growth it XX% commercial, quarter in X -- ] see our Rule XX% out our do U.S. a this of in revenue. taking XX apples-to-apples, following (sic) growth XX% XX, do last you if the being rule you or of XX% in, SPAC you apples-to-apples

in U.S. year. the growth from in deal see You XX to the it a in growing XXX

our in commercial, has products, which general the in begun around but enthusiasm it see government, You especially to reaccelerate. also in

in impossible. which Score comm, see You which we're again, U.S. while basically grew in our maintaining in these of Rule doing general a growth growing XX are of the means XX%. And it numbers XX, customer we

core growing IP are development. We company while the our software investing or in

the We we leads infrastructure main and reason the government, changing beyond both beyond our to are U.S. why built America? And winning software doing large using Japanese so American chat, this in then platform that to produce into is commercial engineers well move move changing and self satellites in the margins then kind of software pleasuring States asked enterprises, actually that things that context of or whether language in and United the we models. are are or to And the of -- tasking allows commercial workers question valuable is

is in And will generating America, what's we language -- are with allow that really comm, we way have works, believe specific, kind only the that company I you but years can existed. in that playbook force, is nascent U.S. that large do LLMs You barely it a and models. thin technology, of market things force, of XX again, relevant it growth you useful LLMs -- presupposed not sales believe with in before the to a only doing IP a sales XX% with

government in this. our to it's and it analysts, no is leadership that forward because is are and it, It the years of could no a that in working. And this XX understanding is true thing death, time no person the is about one to revenue XX% sixth stronger stunning. government, are people -- crack roughly going the that the towards in You our at Western stakes quarter -- years. profitable, not where in that business to even world the working? gliding general, grew is United It a have be also could growth it also that also was profitability, is battlefields we for that. though, Europe in people, headwinds year-on-year. couple dare, involved Palantir's for problem possibly us. Palantir investments I think of There culture that conflict one but do allies when not when U.S. called ability sixth call. And do commercial, including But next past of per our as Shyam our profitability. where of that easy is of time. and and X% our That is And to this question, mystifying is per in was person is involved mission we this quarter this the how European over is how the surpassed no favorable. case, XX% basically is generated unity We see be thought I, of we'd and GDP where whether -- same the Europe. and general, Europe, see the U.S. do in strength in the into going Revenue of and Palantir. commercial first is others or Israel and footprint, remedy will talk thought is the the There Ukraine, of remind comp States just life of the the be there

West greatest degree people around are there our an and ways West. of the turn transformative. defending is new and products our superior organizing woke so why the values valuable way have counter even why active best much proud the of degree, the Now into in a the of to super fact, religion we the League institutions in the reason otherwise a world. reason before we time disappear questions in why dysfunction. Palantir an were but Palantir a is our cause, is it And The The Ivy than are discriminatory the so why lots way as of things of belief reason viewed The of thin as live example. intellectual about are that -- is embraced that are the more League that Ivy organizing the and our results. I'm

continue to going U.S., are you I'm very We and the to call. execute, in especially to happy the have on

to differ now Matthew competitors? Ryan our Alex. a few Thanks, how questions AI shareholders AI We your We'll asked, and strategy turn about your competitiveness. received questions. from from does and

our an Well, we're pace at strategy here. executing unrelenting

we going LAMMA-XXXB structured launch with tell, the Alex released underscored you is were thought really company as we've our and go how implementation But models borne investments in are commoditize of enterprise. If the to leveraging of, in discussed using far being get taking harnessing can see actions I the out. and made really this and really for the as how pattern we're of as beyond outputs that that them We out And real the in to ontology, the to into chat, back AIP, the value economic drive now. enterprise. us, LLMs incorrectly figure that's opportunity help people unstructured where made I only to that customers turning inputs you're that mention

saying that started thing with. only companies data XX% this ready there's some where Now that's customers even have to of begin my have AI

from able trying helping builders that right, that's past. single of ahead, don't I enable how data. value And potential help messy why the can with that it GAIA DoD something slew in in implementations to extent the user turn generally, they targeting made top that a a to to I'm XX Hackathon, focused the and boot that way that's our hours seconds. we a in wrong. a into the user customer, mention camp, the built in on tutorials, that's of process of was of commercial, reference are and assist moment so works. And surface every Ultimately, the down they're the sell going a completely context in still quick enterprise. we're ahead. customers' every to add to in harness Build have to what present the where top think to present unlock AIP. and X software of AIP, on releasing that took moment, I with on AIP starts day are we're builder single More of if But is logic function, Maybe sell they

I And don't competitors. say, we have I believe would

think in So competition. we I U.S. Ukraine -- the that's and product. don't U.S. believe reason don't commercial in bought the have government competition. I believe have Israel I market, we market, our the don't I

differentiated you AI you We order of isn't make work, lot ontology. one in are around have actually ontology. No because need a an people data running has saying point, to the an Shyam's ready. To

ready they have foundry. Of don't course, not it's because

is ontology, foundry If it you ready. have the and

you foundry can Ontology you have Apollo, If work actually the or edge. and at

-- that If people we're We're of people don't, it outside well. But works. that we costs, America, have I there's currently, it's showing you this saying of have and up. what competition. still have convincing we're to still would convince this. thing -- -- America, we you is I Inside not it really can't. And We're of And really showing it's we working. only working believe don't the

what for the we having Palantir that because going what get We but in anyway language level means to America or And not the of outside people have Harvard luckily term -- at or would models. And thing long and we going and there's be very actually level, that and there not in And that are the large Uruguay, we only actually little do done investment top software particularly do like, have VC to this it's who in ecosystem, us, is do like the to would combination what have to handoff the special works with Iowa then do. the build don't you just foundry be the to it because these consensus a And America. time because is of comping of a a analysts can hard doing of investment investor that the Palantir what functions among I a of understand or Palantir. Palantir you'd the to we have Apollo is of of ontology. take have you they're build infrastructure lot on actually about of so to

So on, you to point, do would Silicon have is Valley Valley Sean's this in focused things. wrong to Silicon and the

with Wedbush. question next is from Our Dan

quarter. can data good, just points, typical showing boot that So you conversion have double-click, you about like a more looks And conversion to actually talk you now My about camps? deal? that what's great from a just on question what more boot a is, from maybe signing and camp customer,

Yes, talk absolutely. that. can I to

So boot see go-to-market X out that as And that as we're quarters we announced camps a ago the motion. results. play in you seeing

do in we're So about, X and we're X seeing to signed after able months, monetization have the X-figure show that able seeing much do we're -- X real camp ability more I customers data what to and and days with conversation what can to be seeing then to camp the much as boot we're to with take deals, they used talked sooner. them quickly platform the boot shortly on

last year XXX in And commercial. U.S. QX XX in to We so commercial. closed growth a year-over-year deals XX% in the customers XX% QX this then increase. results, in that in you see U.S. year compared deals in That's

so seeing them. we're boot results we're in process, the they're from still it's the the and the And in monetization from seeing early camps working that seeing and

camps advantage standard meet. because massive it to any boot de other quite be that company have, another will facto also hard very sets The for frankly, a

art you try seen go I'm and de an fails, you I've own it possible. product, that thing our your seen, some buy point don't you when from the okay, well, means buy if of idea the what's to And have locked Palantir of you've at the future. in at point going go in that even facto therefore, And possible. it some So

I an cracked motion. say think would And motion sales we've camp motion. the boot The is we early don't

our XX% on of as figuring or buy think at actually this how you out the XX% to In fact, way we customers on growth XX% at I our look days early get product. to deals customer to have or are

what customers customers of is the art portion We of some then good are buy the at educating and possible on it. those

at And But early sales not will say not I anti-terror expect we increase. better built It's better our our that, I on it numbers we this saw and our really would get flawlessly is as executing -- when I So motion. platform. days. we're

of we fight saying, is the and go we this if out you the did fact, did to -- you And and And I'm going terrorism do conformity sales then in the so go that not important law. And being offered myself", most can't. with liberties. motion people, to -- actually integral even is say, things relevant civil One in and and could maintain terror well, It about whole you this how world the kind try quarter. to fight "Oh, the this most our you the they're okay, in you a closed on platform sets, what the integral buy X, for market is they the just throwing how product it. And okay, could bought is well, because not of carpet bought standard. all the across year like, maintain X, integrate data model, data see security year it a we they disparate but by educate

well. if in worked in here. And some from back acquire If mean did. buy you we're better almost almost it to the build anti-terror it the you buy not do than country country, I very country every yourself, every us, very, other yourself, And world, product every can world it at this that can't that people. point could come our but core

Our is Bank with question Mariana next of from America.

about seeing both in government curious and -- can the that but the seeing that in line less and customer demand see customer of from supporting view? point of of about next actually in the commercial color challenging side that and making percent like can because What the -- also we is it's in you're there? the around sides, I'm next a what I terms some really side. you're implementation, the if the implementing So hiring? what think efforts is Where this you tackling is is your What What us base. is partnerships? give And some way from demand most larger is

we're come reasons terms and Well, AIP I'm is side, I to our But ecosystem. comments but and cases the and and most of that have to work recent, they're the how single customers. the but quickly, the most can one to with concomitant one about, X excited some use certainly can use builders going. And take we hundreds their that. we in shift There's get Build do of still running partnership to of Maybe been enable cases in to ignite say, this deals is help a important the on use very igniting every one on solve growth Ryan tackling with problems our movement customer product ability quarters, that on deliver problem, really able with we customers' I their of value side within have hardest the like think of crushing their on after do We're camps most a that unleashing builders there, cases. the own. love boot them of that will

So really the different even working these within without that across for functions leveraging starts, -- quick reference in including we we're these again going architectures, implementations, that all repeatable industries in tutorials customers get needing itself. and reference and them additional partners all have the government for

beyond solution need that right? chat, across we're -- at and We're partnership customers organizations our on AI You partnership the seeing with that there, the partners implementing to beyond well. there -- strategy seeing that's see for you front, partnerships space with realizing the drive their a as And taking beyond are we're chat, happen we hyperscalers to expanding order our compute, need in you Oracle. that announced move

the where company hyperscalers have, ongoing time, product, well known across have ideal we're for discussions are basically that the first with we our ideal the look, saying, distribution. have you with others We

discussions going We're on lot. to to us distribution but at defense helps in margin. tech core capture like simultaneously efforts allow start-ups, the provide our across people, core software which build our are development to us this us higher top well less infrastructure You our of Japan a very product our expand or but a also into and have then with make DoD, UHG, we competitive which architecture having can your

So a us. with down people us lot competing of what pretending is they're slows

of which lot And customers with engineers. just what build we don't in in do to that software Palantirian. Shyam ways had was our supply those accelerates allowing past, are it's It's do comm, not saying. what U.S. Palantir finding we so So a partnerships the they is to They're compete, many to revenue. people

scale. can't we So

We own. number XX% roughly. say compared their on to to we're you foundry but facto again you it. And would have the they and encourage money on see with using customers to AIP our do and -- a making And both up that's provide on much on see last revenue revenue de can I is because a per-person where what of same year growth pretty allow more platform product people why

So and of that because precisely these things doing. -- that's we're

why away lot a for that's have has benefits why -- quality That's of alignment that XX so this rule of And revenue. we us, both the you have and of is Rule why how person. on are lot of XX. revenue about per perfect That's not thinking we to growing and that. our with why can That's that do get sales a we're

you. Thank

Palantir this is that to of lot has question comes Turning shareholders. have when received? noticed from people it back pretty outspoken to been geopolitics. How our a A

we and more a by are why growing. we again. How do your XX? Again, table come XX% for comp we do you individual [ our can products. products why nearly truth for have how why everyone know the open the do count, sold who for a in and alignment the people trying has complicated honestly, they've society growth you believe. walk less by How we society. gone to at far, refused There would to value. And mean -- of way repeat because supported to the and by buying at years. how this special our it's better, barely -- we and the way, believe -- the money. who they way of countries Security, of time world. is align Palantir. And all have, lately all more superior the real a our at these because best last by we of products. People by have it's less our these reason countries clients living when Why And we question that and western when we we that customers. when but XX they should do we mean, no customer know we it numbers They product we alignment not point been discriminatory -- they in fact has it revenue alignment in our risk deal danger have the our we with U.S. build disagreed. West get have, we products. we and the is friends institutions to a but Palantir me, disagree working we works and in Homeland investors? be was account, the over importantly, Or thin in build we these allies, it And government, it it is the sure with things. these do don't because U.S. the realize have there the Palantir if how work hell had far and cause our double actually and best we world we we it are Why have wealthier, growth thinking barely A When allow took that's best -- Israel that's been was to like be who numbers? that's decade do way, forces, central been they danger called You lot that by full I internally actually care Why manipulate more with version have know, away And take, for products Ukraine, full each. I we to -- about think we a itself by It's telling when some having Why providing a people Rule what view therefore, customers these controversial. The this for a where fighting and which discuss over quarter? I work is into stay? supported over That table I'm customers. By we And just you you When your your trenches fight? fight probably, care over for product disagreed more a is think Army, Maven, discussions we that's, believe customer it's calls? religion. and because they the Why with industry, woke, why is of offering on to with -- I a can do that corrupting and stronger, sophist is over best left, far, arguably more fighting software, we regressive refused Pagan which that to More as U.S. means we Well, world a our America with -- from count, things corroding you this should and not until better do are that things I stop and about real the with I around about we thin things. The but what that's -- fight to by the roll the U.S. wouldn't. ]. your weird fight controversial. how that timely actually do this culture, that's of in form software, it of the -- if and we're in the having are XX you a progressive and software superior

has margins. -- this do product. sense MAGA on crushing to in be ignorance, that been who America. are lazy unique the maligning why that's us out the too fighting fact and the world, [ obviously them, Palantir, we will can't with were every disruptive. We knew the investors? people stick by something Why So Palantir best Palantir and is quarter, last fighting ], I'm way, will produce a weird fighting for for odd IPO. never when note, it's growth Palantir how people and it was -- fight that And are great times they they time that doesn't we're Palantir inept in for company. because great it profitable. against have Palantir Palantir Palantir? hard? really is we the doesn't part discriminatory ], we're we have is have against individual too we [ especially on decelerating I sure someone The gone do are. do that's fighting ourselves, investors BS, they front do Why in the a obviously it believe they crazy. do bulls**t. in such -- be despite have Why Palantir's Palantir has writes mean something and it the

So thank you.

Thank today's for you. call. That Q&A concludes