Palantir Technologies Inc Stock Price, News & Analysis

Palantir Technologies announced robust Q2 2021 results, reporting a 49% revenue growth year-over-year to $376 million. US commercial revenue surged by 90% year-over-year, with 62 deals worth $1 million or more closed. The company added 20 net new customers, growing total customers by 13% quarter-over-quarter. Cash flow from operations reached $23 million, and adjusted free cash flow hit $50 million. The outlook for Q3 2021 anticipates $385 million in revenue. The full-year adjusted free cash flow is raised to exceed $300 million.

Palantir Technologies Inc. (NYSE: PLTR) will release its second-quarter results on August 12, 2021, before U.S. market open. A conference call will follow at 6:00 AM MT / 8:00 AM ET to discuss the earnings. Shareholders can engage in a live Q&A session by submitting questions through a dedicated platform until 24 hours before the call. Palantir specializes in enterprise data platforms, aiding diverse sectors from aviation to drug discovery by transforming data utilization.

Tritium and Decarbonization Plus Acquisition Corporation II (DCRN) announced a PIPE agreement with Palantir Technologies (PLTR) on July 27, 2021. Palantir will invest in Tritium DCFC Limited (NewCo) as part of the business combination with DCRN. The investment is contingent on completing the business combination and aims to enhance Tritium's technology development and market expansion. Palantir's Foundry platform will provide Tritium with advanced data analytics capabilities, supporting its growth in the electric vehicle (EV) sector.

Palantir Technologies (NYSE:PLTR) has received a one-year contract renewal from the U.S. Department of Health and Human Services (HHS) to support COVID-19 vaccine distribution efforts. The company will continue to provide its software platform, Tiberius, which facilitates tracking of vaccine production, distribution, and administration. This contract enables Palantir to assist both domestic and international vaccine distribution, reinforcing its commitment to enhancing public health response amid ongoing pandemic challenges.

Palantir Technologies (NYSE:PLTR) has launched Foundry for Builders, aimed at assisting early-stage companies by providing access to its Foundry platform. This initiative enables start-ups across various sectors, such as healthcare, fintech, and robotics, to leverage a scalable data management system that supports data-driven decision-making. Initially, Foundry will be available to companies linked to Palantir alumni, expanding later to other start-ups. Foundry serves as a fully managed SaaS, enhancing operational efficiency and ensuring data security.

Palantir Technologies (NYSE: PLTR) and Grupo Globo have renewed their partnership for two years, enhancing Globo's transformation into a mediatech company since 2019. Globo, Latin America's largest media firm, utilizes Palantir's Foundry software to manage over two petabytes of data, improving advertising solutions and enhancing audience engagement with its SVOD platform, Globoplay. This collaboration fosters a data-driven culture at Globo, leading to innovative products and significant operational efficiency, ultimately impacting the company's top line.

DataRobot and Palantir Technologies Inc (NYSE: PLTR) have announced a strategic partnership aimed at improving demand forecasting for retailers. This collaboration introduces a custom framework that integrates Palantir Foundry’s data capabilities with DataRobot’s machine learning models, allowing companies to develop forecasting models rapidly. The initiative addresses the challenges retailers face due to outdated forecasting methods and aims to optimize inventory management and reduce lost sales. Key industry insights underscore the necessity for advanced AI solutions to enhance forecasting accuracy.

Palantir Technologies (NYE:PLTR) has secured a contract with the Federal Aviation Administration (FAA) valued at up to $18.4 million. This one-year deal, with two optional years, aims to enhance the FAA's aviation safety efforts, particularly regarding the 737 MAX fleet's return to service. Palantir's Foundry will enable the FAA to efficiently analyze and share aviation safety data, supporting aircraft certification and operational safety activities. The partnership underscores Palantir's role in modernizing critical data systems within governmental agencies.

Palantir Technologies (NYSE:PLTR) has been awarded the 2021 Global AWS Partner Network Public Sector Partner Award for its platform's role in combating COVID-19. The award recognizes partners in the AWS channel who innovate with cloud technology. Palantir’s platform was critical in the National Covid Cohort Collaborative, aiding over 1000 researchers in understanding the disease. Palantir’s collaboration with AWS showcases its capability to manage complex data, improving healthcare responses. An online event on June 30, 2021, will recognize all award winners.