Palantir Technologies Inc Stock Price, News & Analysis

Palantir Technologies (NYSE: PLTR) has partnered with WesTrac to deploy its Foundry operating system across WesTrac's servicing and rebuild operations in Perth, Australia. This collaboration aims to enhance digital transformation, improving performance by reducing work order delays and increasing operational efficiency. The partnership, which builds on previous collaboration since 2021, will also extend to workshops in New South Wales. Palantir's software, utilized in over 50 industries, facilitates better data integration and decision-making across WesTrac's operations.

Palantir Technologies Inc. (NYSE:PLTR) reported Q3 2022 revenue of $478 million, reflecting a 22% year-over-year growth. U.S. revenue rose 31% to $297 million, driven by a 53% increase in commercial revenue. Total contract value for the quarter reached $1.3 billion, with customer count growing 66% year-over-year. Despite a $62 million loss from operations, adjusted income from operations was $81 million, marking a 17% margin. The company reaffirmed its full-year revenue guidance of $1.9 - $1.902 billion, anticipating a strong finish despite currency impacts.

Palantir Technologies Inc. (NYSE: PLTR) announced that its FoundryCon US customer conference will open to shareholders, customers, press, and the public for the first time on October 27. This marks Palantir's first in-person customer conference since its IPO in 2020, targeting the US commercial market. CEO Alex Karp will lead a discussion with Axios Co-Founder Mike Allen. Keynote presentations will feature executives from various organizations, including Jacobs and Morgan Stanley. The conference will be livestreamed, starting at 11:30 AM MT.

On October 25, 2022, Palantir Technologies (PLTR) announced an expansion of its partnership with the FDA, securing a $22 million contract for the 21 FORWARD initiative. This project aims to modernize food supply chain monitoring and crisis response by integrating data from multiple agencies, including the USDA and CDC. Since its pilot in 2020, 21 FORWARD has been instrumental in addressing food safety issues, notably during the infant formula shortage. The initiative employs Palantir’s secure cloud platform to enhance food safety decision-making and prevention strategies.

Hertz (NASDAQ: HTZ) has partnered with Palantir Technologies (NYSE: PLTR) to enhance operational efficiency and customer experience through data-driven insights. This multi-year collaboration will modernize Hertz's technology platforms, focusing on electrification and shared mobility. By utilizing Palantir's Foundry operating system, Hertz aims to manage its fleet of nearly 500,000 vehicles more effectively. Initial results show reduced vehicle downtime and quicker rentals. The partnership highlights Hertz's commitment to innovation in electric mobility.

Palantir Technologies (NYSE: PLTR) has appointed four new members to its Federal Advisory Board, enhancing its advisory capabilities in public health, supply chain, and national security. The new appointees include Dr. Deborah L. Birx, The Honorable Will Hurd, General Gustave F. Perna, and Mr. Greg Simon. These leaders bring extensive experience to aid Palantir's collaboration with U.S. government agencies. CEO Alexander Karp highlighted the crucial role of these additions in addressing complex challenges while leveraging innovative technologies to improve outcomes for government partners.

Palantir Technologies Inc. (NYSE: PLTR) will announce its third-quarter earnings on November 7, 2022, before the U.S. market opens. The results will be discussed in a live webcast at 8:00 AM ET. Investors can pre-register for the event and submit questions in advance. The Q3 earnings report is highly anticipated as it will provide insights into Palantir's financial performance and future outlook. For further details, shareholders are encouraged to visit investors.palantir.com.

Palantir Technologies (NYSE: PLTR) has received the Department of Defense Impact Level 6 (IL6) Provisional Authorization from DISA, expanding its Federal Cloud Service to a new Secret Region. This accreditation allows Palantir to support U.S. federal entities, including the DoD and Intelligence Community, with sensitive defense missions. The expansion is aimed at enhancing operational capabilities while integrating AI/ML technologies, making Palantir one of three companies, alongside Microsoft and AWS, to hold such authorization.

Palantir Technologies Inc. (NYSE: PLTR) has secured an $85.1 million contract with the U.S. Army Materiel Command (AMC) to enhance predictive maintenance and supply chain optimization over five years. This initiative aims to improve logistics in contested environments and equipment reliability through advanced AI/ML capabilities. Palantir's software will build upon existing systems, enabling AMC and its partners to develop predictive maintenance models for better asset management and reduced maintenance costs. The contract follows an initial competitive prototype phase.