Annual Report — FY 2024
Filed February 18, 2025
Revenue grew strongly in 2024 with the U.S. business accelerating as the key growth engine, while the company sustained GAAP profitability for a second consecutive year after years of losses — a meaningful inflection point driven by improving operating leverage and declining stock-based compensation as a percentage of revenue. The dual-segment model (Government and Commercial) is increasingly tilted toward AI-powered commercial expansion, with the Artificial Intelligence Platform (AIP) emerging as the primary demand driver and customer acquisition tool through hands-on "boot camp" events. With over $5 billion in cash and marketable securities on the balance sheet, zero debt, and strong free cash flow generation, Palantir is positioned to invest aggressively in AI capabilities while its premium valuation prices in substantial continued acceleration ahead.
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Extracted Milestones (6)
AIP Platform Deployed Across Commercial and Government Sectors
Palantir's Artificial Intelligence Platform (AIP), which began deploying in 2023, is now described as operational across both commercial and government sectors, providing LLM orchestration, AI agent development toolchains, evaluation frameworks, and seamless bundling with Foundry, Gotham, and Apollo.
AIP Bootcamps Established as Core Customer Acquisition Channel
Palantir has operationalized AIP bootcamps as a key go-to-market mechanism that delivers real workflows on actual customer data in days, serving as both a sales acceleration tool and a forum for identifying new use cases and R&D opportunities.
Apollo Offered as Standalone Commercial Solution
Apollo, originally built internally, began being offered as a commercial solution in 2021, enabling customers to securely deploy their own software in virtually any environment via a single control layer for continuous delivery.
Fujitsu Global Strategic Partnership for Foundry and AIP
Palantir, through Palantir Technologies Japan KK, entered into a strategic global partnership with Fujitsu Limited to incorporate Foundry and AIP capabilities as key data infrastructure for Fujitsu Uvance, a portfolio of global solutions addressing business and societal challenges.
Edge Deployment R&D Focus for Software, Models, and Assets
Palantir disclosed that many current R&D efforts are focused on deploying software, models, and other critical assets at the edge, including integrations with complex hardware and operations in disconnected environments.
Developer Tier Offering for Foundry and AIP Launched
Palantir has launched a Developer Tier offering that provides limited access to Foundry and AIP in the United States and select countries, allowing developers to explore and build without significant upfront enterprise costs.