Palantir Technologies Reports 52% Growth In Its Revenue In Q3

  • November 13, 2020 12:03 PM AEDT
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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.




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