Palantir Technologies Inc Stock Price, News & Analysis

Palantir Technologies Inc. (NYSE: PLTR) has secured a renewed contract valued at $95.9M from the Department of Homeland Security to enhance its Investigative Case Management (ICM) software. This five-year partnership aims to bolster HSI’s efforts in combating transnational crime, including human trafficking and drug trafficking, supporting investigative activities across 225 locations globally. Last year, HSI reported significant achievements, including 34,974 arrests and substantial drug seizures, showcasing the effectiveness of Palantir's software in national security operations.

Palantir Technologies (NYSE:PLTR) has expanded its partnership with Hyundai Heavy Industries Group, incorporating its Palantir Foundry operating system into Korea Shipbuilding & Offshore Engineering (KSOE) and its subsidiaries. This $20M deal over 5 years aims to enhance data-driven decision-making in shipbuilding, improving efficiency and safety. Foundry is already used in Hyundai Oilbank and by Hyundai Doosan Infracore, accumulating contracts worth over $45M. This expansion highlights Palantir's commitment to digital transformation in South Korea's shipbuilding sector.

Palantir Technologies (NYSE:PLTR) has been recognized as the top AI software platform for 2021, leading in both market share and revenue, as reported by IDC. The AI market grew by 36.8% in 2021, reaching a value of $14.2 billion. Institutions adopting Palantir's solutions have experienced up to 35% improved innovation and 33% improved sustainability. Currently deployed in over 50 industries, Palantir continues to innovate, aiming to enhance data operations and support critical data privacy.

Palantir Technologies Inc. (NYSE: PLTR) has partnered with Beckett Collectibles to modernize its operations using Palantir Foundry. This software will digitize and integrate decades of data related to collectibles, improving customer access and automating grading and authentication processes. Beckett aims to develop the most comprehensive collectibles database and leverage Foundry for app development. CEO Kunal Chopra highlighted the rapid six-week implementation of the backend rebuild, indicating significant operational efficiency gains.

Palantir Technologies Inc. reported robust financials for Q2 2022, highlighting a 26% year-over-year revenue growth to $473 million. Notably, US revenue surged 45% to $290 million, and commercial revenue soared 46%, with US commercial revenue skyrocketing 120%. The company closed total contracts valued at $792 million. Despite a $42 million operational loss, adjusted income from operations stood at $108 million, achieving a 23% margin. Looking forward, Palantir expects Q3 revenue between $474-$475 million and full year revenue of $1.9-$1.902 billion.

Palantir Technologies Inc. (NYSE: PLTR) is set to expand its partnership with the U.S. Army Research Laboratory, securing a contract valued at $99.9 million over two years. This collaboration aims to integrate data and AI/machine learning capabilities across combatant commands. Having initially partnered in 2018, the extension signifies growth in operational RDT&E work, allowing Palantir to enhance military technology for frontline users. Executives underscore the importance of maintaining technological superiority to meet current and future military challenges.

Palantir Technologies Inc. (NYSE: PLTR) will release its second quarter results for the year ending June 30, 2022 on August 8, 2022, before U.S. markets open. Following the announcement, a live webcast will be held at 6:00 AM MT / 8:00 AM ET to discuss the results. Investors can access the webcast and participate in a Q&A session by submitting questions in advance. For more information, visit investors.palantir.com.

Palantir Technologies (NYSE: PLTR) has been recognized as a Leader in AI/ML software platforms by Forrester in its Q3 2022 report. The company's Foundry operating system received top scores in product vision, performance, and market approach. Forrester highlighted Palantir's platform for its robust capabilities in security and governance of machine learning, making it a preferred choice for organizations with heavy data needs. COO Shyam Sankar emphasized this recognition as validation of Palantir's ongoing investments in AI/ML technologies.

Palantir Technologies (NYSE: PLTR) has secured a $36 million prime contract from the Army to prototype the Tactical Intelligence Targeting Access Node (TITAN). This contract spans 14 months and marks a significant step in integrating AI and ML into military operations. Palantir's Modular Open System Architecture (MOSA) will facilitate data fusion from multiple sensors, enhancing situational awareness for frontline forces. This initiative aims to support the Army's Joint All-Domain Command and Control (JADC2) strategy, positioning Palantir as a key player in defense technology.