Palantir Technologies (NYSE:PLTR) has released its Q3 FY2020 results and reported 52% growth in its revenue to US$289.4 YoY. However, the Company incurred a loss of US$847.8 million. Full-year 2020 revenue guidance has now improved to range of US$1.070 billion to US$1.072 billion, up 44% YoY.
In Q3, the Company secured new contracts.
- These are US$91 million worth contracts from the U.S. Army Research Laboratory to provide AI and machine learning capabilities for military planning and defence operations.
- US$36 million contract from U.S. National Institutes of Health to provide software to the agency for cancer & coronavirus research
- Renewed US$300 million deal with aerospace customer.