Palantir (PLTR) 5 Aug 242024 Q2 Earnings call transcript

Good afternoon. I'm Ana Soro from Palantir's finance team, and I'd like to welcome you to our second quarter 2024 earnings call. We'll be discussing the results announced in our press release issued after the market close 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 third 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. Information concerning those risks is available in our earnings press release distributed after the market closed today and in our SEC filings. measures. to the statements, we course to adjusted obligation by as will no certain during law. Further, of financial undertake update except forward-looking required refer We today's call, in These addition for non-GAAP in GAAP from, isolation should financial be or to, as a measures not substitute measures. considered

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

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

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

and today's on Legal turn now over Glazer, me Shyam Financial Officer. Sankar, to Karp, Technology it start the Ryan call Joining Officer Chief Chief Executive Taylor, Officer; call. Chief are Alex Ryan Officer; I'll Dave Officer; and to Chief Revenue Chief

tremendous revenue to execution continued our We sequential Overall acceleration. in report strategic year-over-year in to and QX. U.S. XX% XX% driven strong U.S. commercial our are results business and commercial contracts, growth, foremost business by accelerated for thrilled excluding government business,

a deliver results impact scale. customers we reflection have alone known, a ability is quickly market are production awakening that to already exceptional Our stand our in our enterprise that AI a to reality of at

face delivering opportunity. the are We these enterprise results of AI unprecedented an in

not not It to problem. and The There's been understand this playbook The struggling a billion is As $XXX world world along: come and billion $XXX work. to just noted by what have Sequoia, all months. the year has great we've The will revenue expectations per huge bottleneck from solve build-out grown this the also AI does saying from problem. X ecosystem's in with cannot production. infrastructure between prototype standard

build While to leap made prototypes, leap. that production is many prototype substantial. Palantir has companies from can the

and AI enterprise deploying our problems on for solving production, is focus customers. meaningful Our

right in We billion $XXX means our anyone the opportunity we else unlike have at right history and products understand space. the time, the that the

closed billion you XX that now. Last TCV. million $X nearly see quarter, and uniquely are and in we results signed $XX of worth more deals situated We our or

notable the One which expansion is delivery most direct of AIP. deals, of of customers the are indicators existing our signing many result of are who of a volume

in evident mini see closed commercial to the in quarter. U.S. our the business, last AIP-driven greatest continue transformation deals We

Our contracts, strategic commercial U.S. revenue, commercial XX% climbed excluding year-over-year.

this signed production. million to XXXX, using in a was and we our last $X America ago. We a Our a to operations. AARP targeted, deployments to care with on U.S. year These integrity shared deepened deal a deploying while and ACV expansion they're signed commercial signed X-year Kinder provide our U.S. land sharpen pipeline with reduce it North prototype year. working industrial up deepened a American nearly system, XX%. rate run patient what into magnitude quarter further those leveraging modernize commercial Foundry and visitors to including to monthly AIP million monitoring, in where sequentially, significant run AIP expanded length North X-year the closed expand unique our Panasonic in our million in AIP, XX expansion, quality helped AIP focus optimization. notable. A enterprise twice and by AIP and year-over-year XX% conviction ERP count us our Energy cases. deliver across the a to ability is optimization, personalized use utilizing late as Morgan subsequently and basis. to of production from up in and AIP across new their company finance, sales, engagements we've for experiences X-year with them use chain finance, expansions XX% expansion stay are rate just storage cases, was taking a was to the just operating and XXXX Eaton coordination supply of handful a addition to started chasm relationship, General of maintain production power expansion of engagement control, customers $XX major Tampa a customers manufacturing

America's XXXX, began hospitals working One days in with Bootcamp. from million with million leading on A $X store XXXX, then production closed revenue generated of in revenue prototype of $X.X prototype generate of optimization nearly management approximately in we out $XX pilot. policy prototyping us of Bootcamp focused. following case with XX revenue and insurance where automated to leading U.S. of to is and to and our pilot what after the an but went Bootcamps paid chain XXXX, year-over-year inventory customers, pricing over the production brokerage this to quarter. AI, million lies count real last immediately review into initial particularly capability initial motion, use wholesale is a go-to-market large converted landing are convenience production unique is XX customer deal remain the just regard days, key the in new in XX% use for possible grew with year. With opportunity commercial moving for these a customers. We case That from track X-figure a firm

production-level Our the product shows towards we of our on delivery. of strength customer. relationships plan new high-value time, landing use and same building continue towards enterprise software to deep power phenomenal our are At cases charisma the customers. this remains of single every Bootcamps focus scale The pilots government leverage moving with concentration and U.S. our with to We heightening unparalleled. business combination production a

integrations across the consecutive up several starting scale awards Chief Digital contract production quarters. We million capabilities. Shortly Our U.S. million a a combatant powered a contract new last can of staff, applications top CDAO, DoD, to period. pride and Department of awards nation's award for growing be evident on results. $XXX the initiative, joint operating while developers government X-year initial defense and CDAO an support and $XXX including the to made worth government mission-critical system announced an of DAGIR, Open contractors, and traditional deploy companies, commands products criticality defense Maven AI-enabled quarter, order over reflects tech the with to certain of This impact quarter's government to more continued to our Defense in additional enable after, a received our the from of software by develop business million. We in our our and accelerating, Office, Artificial strength Intelligence last sequentially long-term in notable U.S. of the than X% maintain business, and celebrate $XX Palantir proudly and X

We're more I the ahead, laying ever-expanding I've never Shyam I'll turn ahead, now prototype bullish production today. Looking charging do leading with from that our it capabilities, steam about path our for to business to customers than across details. the product full felt to share bridge more journey. over our

Thanks, Ryan.

infrastructure hard have commercial on in foundational This proof, government Ontology, to customers incredibly leaders us to our it be has eye-watering and innovation the is investments doesn't investors those Customers Palantir. with in eating we the with we across ignored requires starting years been charismatic journey economic delivering and I'll and be in that Defense into a we the we that's to proofs floor, now and foxhole, work development Our secret Francisco. AIP the discounted of been the as delivers slide. The easy enterprise set because We particular, choose journey because AIP set generation AI prototype of discovering, the AI technologies not anti of does Apollo but pole from technologies Gen in have position. in, of markets. from transition have same note in of segments, put on harvest of next always deliver the be the of and that ahead pipeline us metabolizing but and we're with prototyping concepts a has U.S. problems. that of San deprecated were in and foundational in widely in of secret mechanism AI. uniquely fraught factory one needed pathfinders product the responsiveness. the what is very market production, a deprecates didn't way Department It a PowerPoint hyperscalers builders. invested creating today. The quickly. and seeing will truths providing bring a berries agility infrastructure, that's is to utility eating a the value both is to of the back-end and the XXXX our and made developers to the production product. pain same playbook. Today's in enterprise's into technical had customers, and the continue bottleneck We build production And

government and enabled powering ingredient enterprise. have an own scientists. Our commercial. LLMs harnessing pipeline own but our treat pro the as where this wild. made their code in in all technology end-to-end production the in with In optimization pulled builder only modules applications systems build plan of the we backed exquisite are investments SDK product for our application by business the containerized not emerging code. These their critical warning data feeding for environment has enabled customers, workflows. Today, integration And customers have workspaces is development the us investments into U.S. operational applications lets enabled Ontology, customers the Compute code also these missile in together developers customers' that have developers to we Ontology, choice across investments sophisticated our

built whether access on library and pulled once starts, X opportunities in software their those hosted Munich scale themselves. This thin Ukraine out it. fresh develop enables Warp finally, across integrations award will the a pipeline, automobiles, on our power and driving top the Manager. And a software of on trains, And their Maven, helping the Palantir's all integrated our developers also The for and X enable American our manage industrial Ontology AI We new powered satellites, or become more by deliver the from launching on offerings and build.palantir.com, base. Warp years share with Speed go ERP. engines, capabilities the in our This new the even countries, abandon offering, but founders manufacturing. also prolific of reindustrialization ships. DAGIR develop, kit, to now are in events, past. We weapon place defense power the created AIP the Warp impact. know industrial playbooks developers of bring Speed have factory Armed why government, quick in Speed, and to production defense that in Open playbook fastest the customers the DoD systems refine, road Canada, in all of that is built exquisite of movement repeating bend a jet recent of U.S., customer a War they industrial what with And platforms SpaceX transform integrated to floors, look the will the that applications just The This contract experience implementations product experienced clear Denver an to Mission we us have cereal road list and operating tech dawn leverage planes, Ontology, like. the data JADCX amongst the electronic importantly, traditional win. contract in our reindustrialize deeper. capabilities American we wasn't manufacturing failed reindustrialization. in of It chains AIP, We with nation on At Forces better build I'll with own tutorials Today, and to history World Mills matched and base. to side, products must to and that the tier production bits. our U.K., must over and at reimagines is X developers had CDAO most mobilize modern II, to This again, Apollo but us reference map, development kill together surface champions to itself missiles, scientists and developer is is for speed Maven growing through talk latest contractors, General in American cyber, to Chrysler chains. company. turn Our of value is U.S. system CDAO's business to free to it atoms the companies, the the base. OSDK, platform to a Dave and only and India, the developers warfare, enterprise government and a In warp how that didn't customers future on we not power to government models as At developer have recently made it's Army. industrial financials. also is logistics. can space, on

U.S. Thanks, quarter. businesses. end to an commercial Revenue the accelerated prior growth Shyam. by government and exceptional the in X%, QX our year-over-year, of XX% was strength high driven our by guidance exceeding

we strength, We XX%, top business. billion, growth operating adjusted $X.XXX rate. these unit guidance XX% expanding delivered this highlighting results line margin increasing the a full to On of are strong back while tremendous midpoint our economics our year year-over-year revenue the representing of to

profitability, generating a of consecutive delivered GAAP $XXX income GAAP seventh also record and We quarter of our net of consecutive quarter operating profit, sixth million our generating of record income. GAAP operating $XXX million GAAP a

profitability our to score revenue X-point XX in Our and XX quarter sequential from the a to drove first Rule the XX of second increase in quarter.

global line X% to to sequentially. top in generated up XX% year-over-year Turning Revenue our $XXX accelerate. results. continues million and We revenue,

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

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

segment. commercial our to moving Now

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

impact X% the grew commercial from contracts, year-over-year strategic sequentially. commercial revenue Excluding and XX%

TCV book million, XX% representing was commercial growth quarter $XXX year-over-year. Second

to U.S. AIP business continues in and customer driving with the both customer Our demand, see commercial conversions expansions unprecedented existing U.S. new

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

Excluding sequentially. $XXX sequentially. grew X% commercial of we business year-over-year. deal the and TCV, In XXX% U.S. XX% quarter, U.S. XXX% strategic our commercial million remaining and booked grew growth commercial U.S. year-over-year representing from commercial Total revenue in XX% value year-over-year revenue contracts, second

a commercial growth continued sequential U.S. $XXX growth result reflecting grew customers, growth Our million sequentially. in X% We decline account second representing to quarter, of revenue in commercial XX% the as Europe. XXX and year-over-year international headwinds XX% XX% in year-over-year and customer generated

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

than from revenue customers to XXXX government anticipate these be to our of segment. continue year We to full less X% revenue. Shifting

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

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

awards led demand mentioned, we government government several notable Ryan software to in since As QX, reflecting the were quarter XXXX, bookings growing U.S. for offerings. for selected the our strongest which

year-over-year by XX% efforts sequentially related international driven grew $XX quarter government partner and revenue from Second our funding XX% in ongoing to nation to additional million, a primarily Europe. Eastern

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

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

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

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

order a in $XXX $XXX income the XX% half from we journey expect delivering of to problems consecutive GAAP GAAP operating the income. consecutive remain XX% year below second sustained back generated quarter, consecutive million, that ramp income expanding goals of prototype GAAP net focused, production growth second GAAP full on invest however, sixth hard seventh continue outlined. We operating profitability the a of expense of and profitability. of pipeline of million, just representing quarter fifth Shyam debottlenecking and technical income generated margin, through in product our for of operating quarter calibrating on GAAP margins. operating the the to in We GAAP to and as expenses continue We our In representing margin, the revenue quarter growth quarter to our we year

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

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

our the from In respectively. to XX% $XXX we XX%, margin of flow. in in million adjusted free million representing second operations Turning and generated flow, quarter, cash cash a and $XXX cash

the expect collections. government in share X.X through line cash Through the program. and the back commercial of ramp with We year, expected million part of flow of quarter, end repurchased our the we as the timing shares approximately half of to second year-end repurchase

As of million short-term the securities. the $XXX end Treasury ended quarter with equivalents, cash, and We we authorization. have U.S. quarter, of cash billion remaining the in of $X the original

turning our Now outlook. to

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

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

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

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

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

was building would do the so, work language process our in and ridiculous to to without in Western will of they Thank they building gets are to of it are we the in PowerPoints, dysfunction your results. And institutions have like building the company bold be context much made work, work in people software what them, from and is for battlefield like as something how ought the richer. But without They production. act to how faster, self-flagellation, software software, the would how like allies. them. not existential would transformation context happening produce other allegory to way enterprise like software. institutional course, would or earnings. valuable, AI a them models stay infrastructure they and flawlessly prototypes face exist. value be addictive institutions need without you And playbook become you people will the software and all from makes valuable. political countries. actually some manufacturing, in to able that in founded this, participating everything software, and be large software not across revenue built a The they means claims current to institutional bold sold language products something our large taught about small this transformative dumber, is which large as death their to which around One enterprises, and to users transferring from value themselves, get became themselves, you of We you transform people. or not can in in of the that adopt, context will in foundational how were doing people that way whole as how exist, better. woke-ism many in a what we commercial PowerPoints, slower, led the current They would these adopt software America in been models other context, into what that group claim of high-value the and margins America and the And products analyst face of the especially we would language know that runs transform enterprise institutions an people their not purveyor self-pleasuring flew better. a looked transforming not The Production deceiving more can thin enterprises, which or light the world would extract of actually for you to ray built of as a just to enterprises meaning around inside use the context move self-flagellation And makes in of or models, life that you in

in we West, gratifying something can't aligned can It have do, world that anyone which making and knowledge advantages. software numbers the were be your on enterprises, in It what and structural engineers quarter to that, better do enterprise, is but have our right, what the the workers that the knowledge you general, America that and make to have the that is actually importantly, make a dots Your context, will would treating can advantage. is not from company area a and to things you business, not and stronger show your that most hand, the now work purveyors and area, give that structural a weapon know than products truly dominance what laughable. structural all else your tribal its as seen actually in in whether commercial a lead that in we the becomes world, be you build the alignment great we've how we with could to that doing the differentiates and by believed, more do as this prove you and by by on which able best allies best anyone the about the America products advantage numbers to and the better, portfolio be you to about somewhat as which banality -- engineers that making able arguably people by and with build had your becomes the And PowerPoints to much PowerPoint. We the than opposed weapon commercial more else, its valuable. in other absolute investors better we our we and this, will allies a better, will where a playbook right were even that talk we are leadership, is battlefield, and, obviously important done is and America about

making had technical to able LLMs third reaccelerate valuable, and had we're had revenue. then quarters all after time for do is course, may Of our much what this that that, XX%. to business, as quarter important to this again our how allies profitability. where force the we for of address times thing will a careers would going that are learnable a superiority we part, single witness past. in quarter, are adversaries, those, any of times our we dominant most the about it way our people the energy business we XX% after at because government quarter punishing single Witness after amounts after never create we at but company had grow ridiculous government their that along U.S. never people Western that at mentioned, the intel, vicissitudes value that changing this the difficulties -- run DPO, had however, We the we our just people well, this is our row we platforms thought and look product be reaccelerate, to growing academic part take the hyperscalers, other productize would We'd our to you commercial the that We it. And this ex have reacceleration customers. Witness our like, would us productization global way after give making the thought be building And business This determinant the doing? We U.S. that the overcome play in after we not that we have are are to are, a works, best I changing the because are simple you it many over best of dedicate world. and come, procure and fact and backlog, our reacceleration. its interesting do we a opaque, years, that a after the it's many, after which in be would [indiscernible] productized X of not rate. the doubters. to which be in everyone, to Shyam of X profitable. as a on this -- its after America to interesting we is able precursor but but business, would long, reduce owners. in to to are way, for -- of way with asserted XX it often issues of how the never our we to changing most the of software, question And all the yet there's planning the working witness people exporting allies, we our do seeing way many would to people not a do, if say asserted and after products is business battlefield role really it were the now

and very and our best a our investors. interest Palantirians, long-term We are owners for with of our allies, our country, focus the

we the supporting Middle And its saying including without Israel. East. know where you. East, and and allies And at America what means you stand of what not least, that Palantir, we have in so this, very the it world in earnings. is violent severe historic in participate the could thrilled very the set are Thank interactions on for us, very to last I'm we be precipice And a goes of Middle much

turn competitive? what is doing plan to the Alex. different our We'll And before now opening is up from Thanks, company's be from questions a Axle its few shareholders what AI Palantir to the asks, call. to competitors? stay

we Thanks, that that the that completely is decade we built market transition is most than Ontology, primitives like Well, where OSDK, place on happens be to differentiation is all the that write-back, deep to and functions the from Axle. a really prototyping think are on very the That to production. And you thin technologies of very more I the differentiated. bottlenecked value on so this permeate that product the playbooks objects, transition investments, of product and on about think ChatGPT focused a pipeline platform, the the is addressing it's the automations, when that on past. invalidated actions, have this prototyping from production. And problem machinery, clearly moment, deep security, technical

bottleneck that transitioning the market. AI so that you very get software is what a traditional you actually than prototype, XX software. equivalent very, this is I have and that's probably quarter. with that think but the easy numbers making It General, That's in doing in the to AI it's effort Panasonic see harder to see happened to in to with slide, therein same Energy an thing production. And of create hard XXXx entire PowerPoint of and what to production, opportunity the lies frankly our Tampa this expansions

Shyam. Thanks,

next from the with change does understand is question LLMs? has Foundry why for enterprise. become this system who asks, the operating we Jacob Our modern How

AppKit extend throughout Well, your the of that your your And the the in point They that solve the with gives that that we've the hyperscaler organizes a Palantir's to of like you LLMs OSDK your operating problems them. built physical development business technology our orchestrates even need doesn't entirety alone. frameworks system like is Windows, the WinUI with or hardware their customers and with their you market treat for and that in LLMs that operating application application system infrastructure business your organizes same their need to it's leveraging primitives framework and your orchestrates applications, Ontology that development your if same Mac enterprise. way and with code, allows system way slightly in interaction for for addicted solutions business can't business AI

already we've a outside, complex point as what complex we're of is need not is mentioned, already the just doing they sounds a what that on but lot the it. And customers understand

So distribution. it's have of people actual like -- we we customer And way of ahead ahead customers in our this. way and way our ahead of investing we're a investors, of and lot the also is advantages,

is And And and the about, giving every language think. you government they're customer does way others actually security who's use. an in ahead all where fact we're buying overtly who them or from the any time How the And numbers. a analysts way of talking are right else paying of things many what They outside trying SDK? of either How within them nothing companies value. ahead an coming a getting meaning use like ahead that or of don't revolution customers, right they we Ontology a but an differentiated, our cases, typically context meaning model So simply they are customers of works. nothing comes every language and simply with the you was single somewhere. understand the things that does these in it's not in this the that under right understood And revolution, use the for largely single in being work use security itself increasingly understands where at work business? Those the is logic, is this and customers of either enterprise? they the from in how this monetizing ahead person witness -- years understand them, everyone the the under that actually things that using shouldn't small logic Shyam else the large to on business else. the they tired conditions the years of are and the would are but model of with use the and understand or revolution who's large But

you Thank both.

Wedbush. is question next with Our from Dan

it quarter now, on congrats. Bootcamps some actual that It the based to from Palantir, historic seems can think feel conversions accelerate? the it starting the out, but for team, Does the just does of feel in granularity like quarter I starting you're you to give it's deals, terms so Look, to like and there?

billion quarter. Yes, can -- closed give or $XX XX I more, million I We deals speak themselves. more worth think all, TCV than in first for of the of numbers $X

was, AI seeing And underestimates are because so an was opportunities to new it I'll them as start said, customers numbers motion. challenge of everyone the being potential immense highlighting, expose what important We're software of enterprise speak scale. production customers new with at to they that the deploying themselves. and for part opportunities. That Shyam is Bootcamps

we're those where And our energy going that's much production massive running and the with so in And and full very us deep that's speed. we're opportunity customers. before focusing at

You see that in the numbers.

the having You are on. direction and where from see we're away focusing that them and the blown more we're more reaction impact really who for that by in demanding customer's and in us

is but okay, and working. this actually very are a okay, in that's -- who'd of people "Oh, very use Maybe what's were a commercial, like, slightly the orthogonal if use AI many most they're And very to special very -- what predicted doesn't, LLMs that you a production like why say, like they're things you things happening take see then different forms And else motion. you or would take work, why separate well, leaders has to There then they're I what's this this very it indirect circle, is to way different learning is the want much these and places other strong working? this are watching is and is like, call, want of understand answering is And so it. that's And would and working. seeing very where in this why? that who I expand your know battlefield, where how are leading very, more places are and aren't U.S. and "Okay, why tight question America a about quickly. And more exactly working?" And people works, than you agile are that's the nothing people battlefield so few in very, you're works. what these I really learning what very businesses now have are customers

is at very we're and moving of, something could to because phase it's much all way assertions, very okay, avant-garde company the areas innovators that's say, well, financial this think going this looking including when in And there it's think different a of is into like yes, it look to I working. at you to lead it areas, you're not quite work. making but I need our

this works. adversaries know Our

How this to expand works kinds in number like, the U.S. XX% we're like way, we being generated works, on And also knows military by these better can that's commercial. And had but similar that if okay, people innovation of what's this by, generating U.S. and me the Xx I do this Our are jaw-dropping work is ground things? explain jaw-dropping, it's knows, because expand different has. works. the our see innovation else numbers this and how working, kind of okay, the one could we is it's we that very no

Thank you.

Mariana America. next of Bank with from question Our is

questions try as I'm X to going to usual. squeeze

one, solution on Warp your is Is I'm a system? is that. curious own build runs creating What little the allows new is companies first ERP, like legacy like it? about Speed. bit something Or that their a of top ERP school old system a that like ERP system? So it to it Palantir details existing about that Is

Speed need. primes this barriers X Warp like they've industrialization. get U.S. they the hurdle guard biggest on barrier second especially for track and to the also and just posted the help old the be is GAO not that the contracts report X all you a recently primes produce, for U.S. you or they or back American an on like The have? What produce the multibillion-dollar let able are far come where said, re-industrialize, is so but implementation them to to -- this to the biggest weapons

Yes. Thank Mariana. you,

manufacturer. an factory there's interacting the ERP of opportunity Speed, PLM, touches but modern it's a And think MES, to So an with PLCs, It with so really the Warp operating it reimagine we system floor. as for this. is -- conceived not also American just it we

then So historically of today, software 'XXs over I for think principally systems If production Speed the CFO. focused you most designed starting you that of place were production. And was head that Warp both you of legacy was software build your do for investments of from how designed congenital Why the defect would the was in the you use integrate on extant made. haven't that? you kind the the and would that in

big of that manufacturers But doesn't are of a to crazy. and take you yet completely of the reindustrialization you the all convinced work. software XXX the their principally the because they the that. country, doesn't it if go time even all this, of say this world opportunity, legacy systems at manufacturers, work they SpaceX stuff one it it not They've playbook fact to you know think powering or bunch also made build this. they where or if sounds the the can't that do They're go afford the built scratch, other they from the to historical new I so investments. take the aware would from own legacy Tesla big alumni engineers know the would scratch to They're all. And

way We that opportunity. apart and alpha, applications and because seconds catalyzing bolus around to a on of in build role happening that it where national OSDK is powerful work. services the building time? in energy build very is of them the think AIP, the what Who it's how amount way is of the not Who what rackets. And supply a manufacturing I here can malleable are happy happened, system implementation think for right creates of not license applications chain COVID say would today the -- a defense use you systems this entire integrators? you now, that ERP the to is in and on are there's manufacturer same other live reinvent around of that disruptions when it's you for systems? use ones $X of didn't is also suite about quite the delivering that rockets actually There's the gives top insights fall the So to never one using business system do to of this to opportunity the reindustrialization the even software huge I believable grafting these implementation just taking $X seems those really think with integrated an XX the right? of Which of that key world this to

they think, Well, to production the and to problem military is work. reason but taking nation every get just is has but I Shyam's is charge, not because this the likely that allied America cannot their it, work --

Palantir on your work perspective companies allow people often SpaceX who means I have we build term what leaders is are be why first build done near work who that It's important when build. Ought and And thing questions. we actually every reimagine because talk very from that including in to we the alumni in this are the are models why really aligns of we're they things. to ought really X is the is and likely built AI, wins with these building of the It the and software you be real, is a super who have the it, that's it alumni build not fake. correctly, And on. people only them that's battlefield? And these people competitive that CFO is to so they're So so program will to companies from Palantir large these very will sustainable, network the them, something do It's the it interest you country, want built countries actually with something build build product. squarely likely really with to is and is make is going you does do the people things. And way and a you a call how linked. working produce are for could thing and answer where the that's have question not to you that actually quickly manufacturing the that to your how of something can Western IPO work, the single conversation possibly and production language production mean something private, build to how my what

line. we end there always, to as we you'd say individual before have Alex, you. lot Is like on the of today's anything a investors call? Thank

to This that world quantifiable we because that the we've do what your for support Well, super you bad time is proven is for had and a and times. good again, thank we Palantir have real. important

appreciate you stronger impactful, may battlefield. that our on you. many West realize And and you focused and we the to are make to your values, larger, battlefield the because know your can allies. Thank we fighting your more us America what be on support you a means do are now, also and We be much upon help support more which to we better and this that we and and growing of help support, place, valuable. us that value-aligned including And company with much appreciate much

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