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Stocks·NASDAQ:PLTR

Palantir (PLTR)

OverviewFinancialsOwnersFilings
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Revenue, last 12 months$7.29B+87% vs. a year before
Free cash flow, last 12 months$4.05BBringing in cash
Cash and short-term investments$10.6BNo debt reported
Shares outstanding, past year+1.1%2.4B shares now
Backlog (signed, not yet booked)$4.90BAs of Sep 30, 2026

My take

No average analyst target in this video.

Every video where I mention PLTR

The last 12 months

  1. Nov 3, 202610-QQuarterly report
  2. Nov 2, 20268-KReleased quarterly results; Shared information with investors
  3. Aug 4, 202610-QQuarterly report
  4. Aug 3, 20268-KReleased quarterly results; Shared information with investors
  5. Jul 1, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  6. Jun 9, 20268-KShareholder vote results
  7. May 5, 202610-QQuarterly report
  8. May 4, 20268-KReleased quarterly results; Shared information with investors
  9. Apr 30, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  10. Feb 17, 2026S-8Registered shares for employee stock plans
  11. Feb 17, 202610-KAnnual report
  12. Feb 2, 20268-KReleased quarterly results; Shared information with investors

All filings →

Revenue by year
2018: $595M20182019: $743M20192020: $1.09B20202021: $1.54B20212022: $1.91B20222023: $2.23B20232024: $2.87B20242025: $4.48B2025$4.48B
Show the numbers
Revenue by year
2018$595M
2019$743M
2020$1.09B
2021$1.54B
2022$1.91B
2023$2.23B
2024$2.87B
2025$4.48B
Revenue by quarter calendar quarter the period ended in
Q4 23: $608MQ1 24: $634MQ1 24Q2 24: $678MQ3 24: $726MQ3 24Q4 24: $828MQ1 25: $884MQ1 25Q2 25: $1BQ3 25: $1.18BQ3 25Q4 25: $1.41BQ1 26: $1.63BQ1 26Q2 26: $1.94BQ3 26: $2.31BQ3 26$2.31B
Show the numbers
Revenue by quarter
Q4 23$608M
Q1 24$634M
Q2 24$678M
Q3 24$726M
Q4 24$828M
Q1 25$884M
Q2 25$1B
Q3 25$1.18B
Q4 25$1.41B
Q1 26$1.63B
Q2 26$1.94B
Q3 26$2.31B
Operating income (loss) by year profit from the business before interest and taxes
2018: -$623M20182019: -$576M20192020: -$1.17B20202021: -$411M20212022: -$161M20222023: $120M20232024: $310M20242025: $1.41B2025$1.41B
Show the numbers
Operating income (loss) by year
2018-$623M
2019-$576M
2020-$1.17B
2021-$411M
2022-$161M
2023$120M
2024$310M
2025$1.41B
Free cash flow by year cash from operations minus spending on buildings and equipment
2018: -$52M20182019: -$178M20192020: -$309M20202021: $321M20212022: $184M20222023: $697M20232024: $1.14B20242025: $2.10B2025$2.10B
Show the numbers
Free cash flow by year
2018-$52M
2019-$178M
2020-$309M
2021$321M
2022$184M
2023$697M
2024$1.14B
2025$2.10B
Cash vs. debt

Cash and short-term investmentsDebt

2018 · Cash and short-term investments: $1.12B20182019 · Cash and short-term investments: $1.08B2019 · Debt: $400M20192020 · Cash and short-term investments: $2.01B2020 · Debt: $200M20202021 · Cash and short-term investments: $2.52B2021 · Debt: $020212022 · Cash and short-term investments: $2.63B20222023 · Cash and short-term investments: $3.67B20232024 · Cash and short-term investments: $5.23B20242025 · Cash and short-term investments: $7.18B2025
Show the numbers
Cash and short-term investmentsDebt
2018$1.12Bn/a
2019$1.08B$400M
2020$2.01B$200M
2021$2.52B$0
2022$2.63Bn/a
2023$3.67Bn/a
2024$5.23Bn/a
2025$7.18Bn/a
How it makes money: Q3 2026 revenue by business segment; the thin line is a year earlier
  • Commercial$1.17B 50% +113% vs. a year ago
  • Government$1.15B 50% +81% vs. a year ago

From the 10-Q filed Nov 3, 2026. Source.

Stock pay vs. buybacks

Stock-based pay to employeesSpent buying back shares

2020 · Stock-based pay to employees: $1.27B2020 · Spent buying back shares: $3.78M20202021 · Stock-based pay to employees: $778M2021 · Spent buying back shares: $020212022 · Stock-based pay to employees: $565M2022 · Spent buying back shares: $020222023 · Stock-based pay to employees: $476M2023 · Spent buying back shares: $020232024 · Stock-based pay to employees: $692M2024 · Spent buying back shares: $64.2M20242025 · Stock-based pay to employees: $684M2025 · Spent buying back shares: $75M2025
Show the numbers
Stock-based pay to employeesSpent buying back shares
2020$1.27B$3.78M
2021$778M$0
2022$565M$0
2023$476M$0
2024$692M$64.2M
2025$684M$75M

If buybacks are smaller than stock pay, the buyback isn't shrinking the share count; it's soaking up shares handed to employees.

Backlog (remaining performance obligations) contracts signed but not yet booked as revenue
Q4 23: $1.20BQ1 24: $1.30BQ1 24Q2 24: $1.40BQ3 24: $1.60BQ3 24Q4 24: $1.70BQ1 25: $1.90BQ1 25Q2 25: $2.40BQ3 25: $2.60BQ3 25Q4 25: $4.10BQ1 26: $4.50BQ1 26Q2 26: $4.90BQ3 26: $4.90BQ3 26$4.90B
Show the numbers
Backlog (remaining performance obligations)
Q4 23$1.20B
Q1 24$1.30B
Q2 24$1.40B
Q3 24$1.60B
Q4 24$1.70B
Q1 25$1.90B
Q2 25$2.40B
Q3 25$2.60B
Q4 25$4.10B
Q1 26$4.50B
Q2 26$4.90B
Q3 26$4.90B

Compare PLTR with other stocks →

From the company's own SEC filings via SEC EDGAR, latest period ended Sep 30, 2026. Numbers can be restated later. Not investment advice.

Dilution

Shares outstanding adjusted for the
Dec 2022: 2.1BMar 2023: 2.1BMar 2023Jun 2023: 2.1BSep 2023: 2.2BSep 2023Dec 2023: 2.2BMar 2024: 2.2BMar 2024Jun 2024: 2.2BSep 2024: 2.3BSep 2024Dec 2024: 2.3BMar 2025: 2.4BMar 2025Jun 2025: 2.4BSep 2025: 2.4BSep 2025Dec 2025: 2.4BMar 2026: 2.4BMar 2026Jun 2026: 2.4BSep 2026: 2.4BSep 20262.4B
Show the numbers
Shares outstanding
Dec 20222.1B
Mar 20232.1B
Jun 20232.1B
Sep 20232.2B
Dec 20232.2B
Mar 20242.2B
Jun 20242.2B
Sep 20242.3B
Dec 20242.3B
Mar 20252.4B
Jun 20252.4B
Sep 20252.4B
Dec 20252.4B
Mar 20262.4B
Jun 20262.4B
Sep 20262.4B

The share count is up +1.1% in a year, so each share is a slightly smaller slice of the company. What dilution means.

Insider trades

Insider buys, 12 months0none
Insider sales, 12 months318$873M, 264 planned in advance

Bought or sold on the open market

DateWhoWhatSharesValueFiling
Nov 2, 2026Lauren Elaina Friedman Stat
Director		Sold on the market (planned)1.4K$253KForm 4
Oct 15, 2026Alexander D. Moore
Director		Sold on the market (planned)
8 trades that day		16K$3.17MForm 4
Oct 9, 2026Eric H. Woersching
Director		Sold on the market (planned)1K$205KForm 4
Oct 8, 2026Lauren Elaina Friedman Stat
Director		Sold on the market (planned)5K$1MForm 4
Oct 8, 2026Ryan D. Taylor
See Remarks		Sold on the market (planned)18K$3.62MForm 4
Oct 1, 2026Lauren Elaina Friedman Stat
Director		Sold on the market (planned)1.3K$254KForm 4
Sep 15, 2026Alexander D. Moore
Director		Sold on the market (planned)
7 trades that day		16K$2.76MForm 4
Sep 1, 2026Lauren Elaina Friedman Stat
Director		Sold on the market (planned)1.3K$245KForm 4
Aug 21, 2026Jeffrey Buckley
See Remarks		Sold on the market (planned)1.3K$218KForm 4
Aug 20, 2026Jeffrey Buckley
See Remarks		Sold on the market (planned)
5 trades that day		2.1K$359KForm 4
Aug 20, 2026Alexander C. Karp
See Remarks, Director		Sold on the market (planned)
10 trades that day		492K$86.1MForm 4
Aug 17, 2026Alexander D. Moore
Director		Sold on the market (planned)
4 trades that day		16K$2.79MForm 4
Aug 6, 2026Shyam Sankar
See Remarks		Sold on the market (planned)
5 trades that day		35K$5.45MForm 4
Aug 5, 2026Lauren Elaina Friedman Stat
Director		Sold on the market (planned)3K$500KForm 4
Jul 15, 2026Alexander D. Moore
Director		Sold on the market (planned)
4 trades that day		16K$2.14MForm 4
Everything else: grants, option exercises, tax withholding (30)
DateWhoWhatSharesValueFiling
Oct 28, 2026Ryan D. Taylor
See Remarks		Grant or award211Kn/aForm 4
Oct 28, 2026Shyam Sankar
See Remarks		Grant or award565Kn/aForm 4
Oct 28, 2026David A. Glazer
See Remarks		Grant or award211Kn/aForm 4
Sep 29, 2026David A. Glazer
See Remarks		Grant or award92.9Kn/aForm 4
Sep 29, 2026Ryan D. Taylor
See Remarks		Grant or award92.9Kn/aForm 4
Aug 20, 2026Alexander C. Karp
See Remarks, Director		Converted (planned)
2 trades that day		492Kn/aForm 4
Aug 11, 2026Shyam Sankar
See Remarks		Gift295Kn/aForm 4
Aug 10, 2026Shyam Sankar
See Remarks		Gift55.5Kn/aForm 4
Aug 6, 2026Shyam Sankar
See Remarks		Converted (planned)35Kn/aForm 4
Jul 2, 2026Shyam Sankar
See Remarks		Converted (planned)35Kn/aForm 4
Jun 4, 2026Eric H. Woersching
Director		Grant or award2.1Kn/aForm 4
Jun 4, 2026Lauren Elaina Friedman Stat
Director		Grant or award2.1Kn/aForm 4
Jun 4, 2026Alexandra W. Schiff
Director		Grant or award2.1Kn/aForm 4
Jun 4, 2026Alexander D. Moore
Director		Grant or award2.1Kn/aForm 4
May 20, 2026Alexander C. Karp
See Remarks, Director		Converted (planned)398Kn/aForm 4
May 20, 2026Shyam Sankar
See Remarks		Converted (planned)166Kn/aForm 4
May 20, 2026Stephen Andrew Cohen
See Remarks, Director		Converted320Kn/aForm 4
Apr 26, 2026Jeffrey Buckley
See Remarks		Grant or award21.1Kn/aForm 4
Feb 26, 2026Lauren Elaina Friedman Stat
Director		Gift7Kn/aForm 4
Feb 20, 2026Shyam Sankar
See Remarks		Converted (planned)168Kn/aForm 4
Feb 20, 2026Stephen Andrew Cohen
See Remarks, Director		Converted327Kn/aForm 4
Feb 20, 2026Alexander C. Karp
See Remarks, Director		Converted (planned)
2 trades that day		493Kn/aForm 4
Dec 12, 2025David A. Glazer
See Remarks		Exercised options (planned)9K$42.5KForm 4
Dec 12, 2025David A. Glazer
See Remarks		Gift (planned)3.8Kn/aForm 4
Nov 21, 2025Shyam Sankar
See Remarks		Converted (planned)19Kn/aForm 4
Nov 21, 2025Stephen Andrew Cohen
See Remarks, Director		Converted39.1Kn/aForm 4
Nov 21, 2025Alexander C. Karp
See Remarks, Director		Converted45.6Kn/aForm 4
Nov 20, 2025Shyam Sankar
See Remarks		Converted (planned)150Kn/aForm 4
Nov 20, 2025Stephen Andrew Cohen
See Remarks, Director		Converted309Kn/aForm 4
Nov 20, 2025Alexander C. Karp
See Remarks, Director		Converted359Kn/aForm 4

An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.

Famous investors who own it

InvestorQuarterSharesValueShare of fundChange
Cathie Wood (ARK Investment Management)Q2 263.2M$375M2.4%Added (+3%)

From each fund's latest 13F, filed up to 45 days after the quarter ends, so it's old news by design. 13Fs only show US stock owned on the last day of the quarter: no short sales, and "added" or "trimmed" compares two snapshots, not actual trades. See what these funds bought and sold.

Failed trades

Failed trades (fails to deliver) shares that weren't delivered on time when a trade settled
Jul 20: 556KJul 22: 5.5KJul 27: 200Jul 28: 26.7KJul 28Aug 4: 74Aug 5: 41.2KAug 6: 5Aug 10: 122KAug 10Aug 11: 2.2KAug 12: 6.9KAug 14: 1Aug 17: 14.3KAug 17Aug 18: 1Aug 19: 362Aug 20: 16Aug 21: 6.4KAug 21Aug 24: 69.6KAug 25: 2KAug 26: 81.8KAug 28: 12.4KAug 28Aug 31: 121KSep 1: 2.1KSep 2: 1.1KSep 3: 3.5KSep 3Sep 4: 6.1KSep 8: 35Sep 10: 318KSep 11: 26.3KSep 11Sep 14: 109KSep 17: 14.6KSep 21: 16.2KSep 25: 76Sep 25Sep 28: 238KSep 29: 1Oct 2: 2.8KOct 5: 15.6KOct 5Oct 6: 14Oct 9: 190Oct 13: 6.1KOct 14: 2Oct 142
Show the numbers
Failed trades (fails to deliver)
Jul 20556K
Jul 225.5K
Jul 27200
Jul 2826.7K
Aug 474
Aug 541.2K
Aug 65
Aug 10122K
Aug 112.2K
Aug 126.9K
Aug 141
Aug 1714.3K
Aug 181
Aug 19362
Aug 2016
Aug 216.4K
Aug 2469.6K
Aug 252K
Aug 2681.8K
Aug 2812.4K
Aug 31121K
Sep 12.1K
Sep 21.1K
Sep 33.5K
Sep 46.1K
Sep 835
Sep 10318K
Sep 1126.3K
Sep 14109K
Sep 1714.6K
Sep 2116.2K
Sep 2576
Sep 28238K
Sep 291
Oct 22.8K
Oct 515.6K
Oct 614
Oct 9190
Oct 136.1K
Oct 142

From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.

Share offerings

Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.

What they told the SEC, in plain English

Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.

What changed in the latest annual report

Comparing the risk factors in the 10-K filed Feb 17, 2026 with the one filed Feb 18, 2025: 1 new and 1 removed, out of 80.

New this year

  • Our business is subject to complex and evolving U.S. and non-U.S. laws and regulations regarding privacy, data protection and security, technology protection, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims,…
Dropped from last year (1)
  • There are no guarantees that our Share Repurchase Program will result in increased shareholder value.

Matched by each risk's headline, so a reworded risk can show up as new. This year's report · last year's.

Government contracts

$2.32B in federal contract money over the last 12 months, across 307 awards and changes.

DateAgencyWhat forAmount
Nov 21, 2025Department of the ArmyCDAO MSS TASK ORDER OFF OF CONTRACT W519TC25D0039$227M
Mar 23, 2026Department of the ArmyCDAO MSS TASK ORDER OFF OF CONTRACT W519TC25D0039$150M
May 7, 2026Department of the ArmyCDAO MSS TASK ORDER OFF OF CONTRACT W519TC25D0039$103M
Apr 17, 2026Office of the Chief Financial OfficerCENTRALIZE FARM PRODUCTION & CONSERVATION IT SYSTEMS, AUTOMATE PROCESSES, AND INTEGRATE DATA FOR BETTER EFFICIENCY PER THE LANDMARK PLATFORM INITIATIVE. STAFF…$94.7M
Jun 30, 2026Department of the ArmyCDAO MSS TASK ORDER OFF OF CONTRACT W519TC25D0039$92M
Apr 30, 2026U.S. Immigration and Customs EnforcementTHIS ORDER PROVIDES ENFORCEMENT REMOVAL OPERATIONS MODERNIZATION AND OPERATIONAL CAPABILITY FOR THE ENFORCEMENT CASE MANAGEMENT SYSTEM ON THE CASE MANAGEMENT A…$86.3M
Mar 30, 2026Department of the ArmyARMY VANTAGE DATA ANALYTICS PLATFORM TASK ORDER.$76.1M
Mar 30, 2026Department of the ArmyARMY VANTAGE DATA ANALYTICS PLATFORM TASK ORDER.$76.1M
Jan 30, 2026Department of the NavyOPERATIONAL LEVEL -$56M
Jun 24, 2026U.S. Immigration and Customs EnforcementTHIS ORDER PROVIDES HOMELAND SECURITY INVESTIGATIONS SYSTEM MODERNIZATION FOR THE INVESTIGATIVE CASE MANAGEMENT AND INVESTIGATIVE ANALYTICS ON THE CASE MANAGEM…$45.8M

From USAspending.gov. Amounts are money the government committed, which can be cut later.

Search inside Palantir's filings

Opens the SEC's own full-text search in a new tab, limited to PLTR. Every PLTR filing on EDGAR.