The epidemic may bring new business growth opportunities for Palantir
In less than a month and a half after listing, Palantir’s share price has increased by 46%. In the latest financial report, Palantir’s growth myth continued, with Q3 revenue of $289 million, an increase of 52% year-on-year.
As a big data star company, Panlantir’s clients are mainly government agencies and financial institutions. Its famous “records” include participating in the hunt for bin Laden and recovering the former chairman of Nasdaq, Madoff, who embezzled huge sums of money.
The latest financial report data shows that Panlantir’s customer concentration trend continues. In the third quarter, Panlantir’s revenue from government agencies was US$163 million, an increase of 68% year-on-year; revenue from commercial organizations was 1.27%, an increase of 68% year-on-year.
It is worth mentioning that the epidemic has brought new business growth opportunities for Palantir.
At the financial report meeting, Palantir said that in the third quarter, in addition to the US Army’s US$91 million contract and the US$300 million contract renewed with an airline, it also received a US$36 million contract from the National Institutes of Health.
The Wall Street Journal previously reported that Panlantir is helping the US government build a system called Tiberius, which will be used to track the production, distribution and management of the new crown vaccine.
Earlier this month, Palantir was reported to be negotiating with the British government, or will provide the British government with new crown virus contact tracking services. Previously, nearly 16,000 positive cases of the new crown virus were underreported due to huge loopholes in the British government’s tracking system.
The arrival of new orders from health departments in many countries has caused Palantir to increase its revenue for the year from the previously estimated US$1.06 billion to US$1.07 billion.
However, Palantir’s monetization spell was not broken. The company continued its loss in the third quarter.The net loss was US$853 million, compared with The net loss of US$140 million in the same period last year has expanded significantly.