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This statistic highlights Palantir’s Revenue by Segment from Q3 of 2019 onwards, split between commercial and government segments.
Palantir Technologies Inc. is an American software company that works in data analytics. The company offers its services to the governments of various countries. and private companies in the field of healthcare, finance, automobile, etc.
Palantir Technologies Inc. generates its revenue from two segments. These are:
The following table sheds more light on each of the segments and their contribution to the company’s overall top line.
|Segment||Revenue Q1 2020||Revenue Q1 2021||Revenue Share in Q1 2021||YoY Growth|
( All figures in millions, except percentages)
Palantir’s total revenue shows consistent growth on a year-on-year basis, from $229.33 billion in Q1 2020 to $341.23 in Q1 2021. It is increased by 48.79% during this period. Data analysis is becoming one of the most important commodities now a day and the company is taking advantage of this commodity. This is the main reason behind the company’s growth.
In this segment, the software is used by hedge funds, banks, and financial services firms. The commercial segment offers its services to private industries like Merck, Fiat Chrysler Automobile, Morgan Stanley, Ferrari, and many more.
The commercial segment generated revenue amounting to $111.2 million in Q1 2020 and 132.81 million or 39% of revenue share in Q1 2021. The revenue from this segment shows a growth of 19.43% or 21.61 million from Q1 2020 to Q1 2021.
The government segment offers its services to the agencies of the united states federal government and non-united states government like the United Kingdom, and France in the fields of Defence and Security, Intelligence, Healthcare, etc.
The government segment contributed $208.42 million or 61% of the total revenue share in Q1 of 2021 and $118.13 million or 51% of the revenue share in Q1 of 2020. The revenue from the government agencies shows a growth of $90.29 million or 76.43% from Q1 2020 to Q1 2021.
Due to the covid-19 pandemic, Palantir has higher demand in the public health care segment. The company’s technology is used by the US and UK governments to trace the spread of the virus and track the data of COVID-19 hospitals in the country.
Palantir Technologies Inc. is a software-based company founded in 2003 by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Carp. Headquartered in Denver, Colorado. In beginning, the company started building software for the intelligence community in the United States to assist in counterterrorism investigations and operations. Later the company began working with commercial enterprises. The company has 2500 employees and 125 customers all over the world.
The company has acquired many companies like Voicegem, Kimono Labs, Poptip, Silk, FT technologies to fight competition and make an entry into new markets. Palantir has also formed partnerships with companies like IBM, Thompson Reuters, and Amazon Web Services. In the US, Palantir faces tough competition from Cognizant, Mu Sigma, Tableau Software, and Tyler Technologies.
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