Sector: Technology|Industry: Software - Infrastructure|Market Cap: $166.75B|Employees: 3.7K
Palantir Technologies Inc. builds software that empowers organizations to integrate their data, decisions, and operations at scale. Their primary revenue streams come from subscriptions to their software platforms, which are used by both government and commercial clients. Palantir's competitive advantage lies in its ability to handle complex data environments and provide actionable insights, with a global presence across approximately 80 industries.
The company's revenue increased to $2.2 billion in 2023, up from $1.9 billion in 2022, demonstrating a 17% year-over-year growth. This growth indicates a continued expansion of the company's business.
The gross profit margin remained strong at 81%, indicating efficient cost management in relation to revenue. However, operating expenses still totaled $1.7 billion, which resulted in a lower operating income.
The company reported a net income of $209.8 million in 2023, a significant improvement compared to a net loss of $373.7 million in 2022. This swing indicates a notable improvement in financial performance.