Palantir Technologies Inc. Files 2023 Annual Report (10-K)

Ticker: PLTR · Form: 10-K · Filed: Feb 20, 2024 · CIK: 1321655

Sentiment: neutral

Topics: Palantir, 10-K, Annual Report, Technology, Software

TL;DR

<b>Palantir Technologies Inc. has officially submitted its comprehensive 2023 annual report (10-K) detailing its financial performance and operational status.</b>

AI Summary

Palantir Technologies Inc. (PLTR) filed a Annual Report (10-K) with the SEC on February 20, 2024. Palantir Technologies Inc. filed its 10-K annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 1200 17th Street, Floor 15, Denver, CO 80202. Palantir Technologies Inc. is classified under SIC code 7372 (Services-Prepackaged Software). The filing was submitted on February 20, 2024.

Why It Matters

For investors and stakeholders tracking Palantir Technologies Inc., this filing contains several important signals. This 10-K filing provides a detailed overview of Palantir's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future outlook. The report includes specific financial data, executive compensation details, and risk factor assessments, offering transparency and insights into the company's business model and its position within the software industry.

Risk Assessment

Risk Level: medium — Palantir Technologies Inc. shows moderate risk based on this filing. The company operates in the competitive software industry, facing risks related to market adoption, technological advancements, and regulatory changes, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Palantir's performance and potential challenges in the evolving technology landscape.

Key Numbers

Key Players & Entities

FAQ

When did Palantir Technologies Inc. file this 10-K?

Palantir Technologies Inc. filed this Annual Report (10-K) with the SEC on February 20, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Palantir Technologies Inc. (PLTR).

Where can I read the original 10-K filing from Palantir Technologies Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Palantir Technologies Inc..

What are the key takeaways from Palantir Technologies Inc.'s 10-K?

Palantir Technologies Inc. filed this 10-K on February 20, 2024. Key takeaways: Palantir Technologies Inc. filed its 10-K annual report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 1200 17th Street, Floor 15, Denver, CO 80202..

Is Palantir Technologies Inc. a risky investment based on this filing?

Based on this 10-K, Palantir Technologies Inc. presents a moderate-risk profile. The company operates in the competitive software industry, facing risks related to market adoption, technological advancements, and regulatory changes, as indicated by its SIC code and the nature of its business.

What should investors do after reading Palantir Technologies Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand Palantir's performance and potential challenges in the evolving technology landscape. The overall sentiment from this filing is neutral.

How does Palantir Technologies Inc. compare to its industry peers?

Palantir Technologies Inc. operates in the software industry, specifically focusing on data analytics and artificial intelligence platforms for government and commercial clients.

Are there regulatory concerns for Palantir Technologies Inc.?

As a publicly traded company, Palantir Technologies Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual (10-K) and quarterly (10-Q) reports.

Industry Context

Palantir Technologies Inc. operates in the software industry, specifically focusing on data analytics and artificial intelligence platforms for government and commercial clients.

Regulatory Implications

As a publicly traded company, Palantir Technologies Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual (10-K) and quarterly (10-Q) reports.

What Investors Should Do

  1. Review Palantir's detailed financial statements for the fiscal year 2023.
  2. Analyze the risk factors section to understand potential business challenges.
  3. Examine any disclosures regarding executive compensation and corporate governance.

Key Dates

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings which would have covered prior periods.

Filing Stats: 4,385 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-02-20 06:15:02

Key Financial Figures

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 61 Item 1C. Cybersecurity 61 Item 2.

Properties

Properties 62 Item 3.

Legal Proceedings

Legal Proceedings 63 Item 4. Mine Safety Disclosures 63 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 64 Item 6. [Reserved] Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 65 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 79 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 81 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 114 Item 9A.

Controls and Procedures

Controls and Procedures 114 Item 9B. Other Information 114 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 115 PART III Item 10. Directors, Executive Officers and Corporate Governance 115 Item 11.

Executive Compensation

Executive Compensation 116 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 116 Item 13. Certain Relationships and Related Transactions, and Director Independence 116 Item 14. Principal Accountant Fees and Services 116 PART IV Item 15. Exhibit and Financial Statement Schedules 116 Item 16 . Form 10-K Summary 118 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "can," "would," "intend," "target," "goal," "outlook," "project," "contemplate," "believe," "estimate," "predict," "potential," "future," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our expectations regarding financial performance and liquidity, including but not limited to our expectations regarding revenue, cost of revenue, operating expenses, stock-based compensation, our ability to achieve and maintain future profitability, and cash flows; our ability to successfully execute our business and growth strategy; the sufficiency of our cash and cash equivalents to meet our liquidity needs; the demand for our platforms in general; our ability to increase our number of customers and revenue generated from customers; our expectations regarding the future contribution margin of our existing and future customers; our expectations regarding our ability to quickly and effectively in

BUSINESS

ITEM 1. BUSINESS Overview We build software that empowers organizations to effectively integrate their data, decisions, and operations at scale. We were founded in 2003 and started building software for the intelligence community in the United States to assist in counterterrorism investigations and operations. We later began working with commercial enterprises, who often faced fundamentally similar challenges in working with data. We have built four principal software platforms, Palantir Gotham ("Gotham"), Palantir Foundry ("Foundry"), Palantir Apollo ("Apollo"), and Palantir Artificial Intelligence Platform ("AIP"). Gotham and Foundry enable institutions to transform massive amounts of information into an integrated data asset that reflects their operations, and AIP leverages the power of our existing machine learning technologies alongside large language models ("LLMs") directly within Gotham and/or Foundry to help connect AI to enterprise data. For over a decade, Gotham has surfaced insights for global defense agencies, the intelligence community, disaster relief organizations and beyond. And Foundry is becoming a central operating system not only for individual institutions but also for entire industries. Apollo, which we began offering as a commercial solution in 2021, is a cloud-agnostic, single control layer that coordinates ongoing delivery of new features, security updates, and platform configurations, helping to ensure the continuous operation of critical systems. Apollo allows our customers to run their software in virtually any environment. In 2023, we began deploying our newest offering, AIP, which is designed for customers across the commercial and government sectors, enabling them to derive value from recent breakthroughs in artificial intelligence via the combination of our existing 4 Table of Contents software platforms with LLMs. We believe AIP uniquely allows users to connect LLMs and other AI with their data and operations to facilitat

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