{"id":312929,"date":"2025-05-21T07:10:19","date_gmt":"2025-05-21T14:10:19","guid":{"rendered":"https:\/\/www.saastr.com\/?p=312929"},"modified":"2025-05-09T08:43:53","modified_gmt":"2025-05-09T15:43:53","slug":"5-interesting-learnings-from-palantir-at-3-5-billion-in-arr","status":"publish","type":"post","link":"https:\/\/www.saastr.com\/5-interesting-learnings-from-palantir-at-3-5-billion-in-arr\/","title":{"rendered":"5 Interesting Learnings from Palantir at $3.5 Billion in ARR"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312932 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp?resize=625%2C349&#038;quality=65&#038;ssl=1\" alt=\"\" width=\"625\" height=\"349\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp 625w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int-480x268.webp 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 625px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 625px; --smush-placeholder-aspect-ratio: 625\/349;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312932\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp?resize=625%2C349&#038;quality=65&#038;ssl=1\" alt=\"\" width=\"625\" height=\"349\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp 625w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int-480x268.webp 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 625px, 100vw\" \/><\/noscript><\/p>\n<p>So there&#8217;s the 10x ARR club &#8230; hard enough today in B2B and SaaS for public companies.\u00a0 And then there is Palantir.\u00a0 By far the most highly valued B2B software company.\u00a0 78x ARR as we write this!<\/p>\n<p><a href=\"https:\/\/cloudindex.bvp.com\/companies\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312930 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1000%2C884&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"884\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=600%2C530&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1222%2C1080&amp;quality=70&amp;ssl=1 1222w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=768%2C679&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1536%2C1357&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=2048%2C1810&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1080%2C954&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=980%2C866&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=480%2C424&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/884;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312930\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1000%2C884&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"884\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=600%2C530&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1222%2C1080&amp;quality=70&amp;ssl=1 1222w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=768%2C679&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1536%2C1357&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=2048%2C1810&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=1080%2C954&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=980%2C866&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.22.58%E2%80%AFAM-scaled.png?resize=480%2C424&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<p>Why?\u00a0 It&#8217;s just a powerhouse right now:<\/p>\n<ul>\n<li>$3.5 Billion ARR<\/li>\n<li>Growing a stunning 39% (!) &#8230; and accelerating (!)<\/li>\n<li>Fueled by AI demand, it closed 139 $1B+ deals last quarter &#8230;<\/li>\n<li>And 31 $10M+ deals &#8230; in just 1 quarter<\/li>\n<li>And &#8230; it&#8217;s raining cash.\u00a0 24% GAAP profit margins!<\/li>\n<\/ul>\n<p>Fire.<\/p>\n<div class=\"embed-twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are early. <a href=\"https:\/\/t.co\/OoIjhQghBN\">https:\/\/t.co\/OoIjhQghBN<\/a><\/p>\n<p>&mdash; Akshay Krishnaswamy (@hyperindexed) <a href=\"https:\/\/twitter.com\/hyperindexed\/status\/1919484313898197489?ref_src=twsrc%5Etfw\">May 5, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<h3>5 Interesting Learnings:<\/h3>\n<h2>1. US Commercial Business is Exploding<\/h2>\n<p>Palantir&#8217;s US commercial business is firing on all cylinders with remarkable growth metrics:<\/p>\n<ul>\n<li>US commercial revenue grew +71% Y\/Y and +19% Q\/Q to $255 million<\/li>\n<li>US commercial customer count increased +65% Y\/Y and +13% Q\/Q to 432 customers<\/li>\n<li>US commercial remaining deal value (&#8220;RDV&#8221;) grew +127% Y\/Y and +30% Q\/Q to $2.3 billion<\/li>\n<li>Highest ever quarter of US commercial total contract value (&#8220;TCV&#8221;) at $810 million, up +183% Y\/Y<\/li>\n<\/ul>\n<p>Palantir has dramatically evolved beyond its government roots. Their artificial intelligence platform (AIP) is driving significant commercial demand, with companies like Wendy&#8217;s and Heineken showcasing dramatic efficiency improvements at their AIPCon event.<\/p>\n<p><a href=\"https:\/\/investors.palantir.com\/files\/Palantir%20-%20Q1%202025%20Investor%20Presentation.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312931 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1000%2C561&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"561\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=600%2C337&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1920%2C1077&amp;quality=70&amp;ssl=1 1920w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=768%2C431&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1536%2C862&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=2048%2C1149&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1080%2C606&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=980%2C550&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=480%2C269&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/561;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312931\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1000%2C561&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"561\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=600%2C337&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1920%2C1077&amp;quality=70&amp;ssl=1 1920w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=768%2C431&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1536%2C862&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=2048%2C1149&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=1080%2C606&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=980%2C550&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.27.50%E2%80%AFAM-scaled.png?resize=480%2C269&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h2>2. The Rule of 40 Score Has Nearly Doubled in Two Years<\/h2>\n<p>Palantir has achieved an jaw dropping Rule of 40 score of 83%, up from 38% in Q2 2023. For context, the Rule of 40 is a benchmark for SaaS companies that adds revenue growth rate and profit margin, with 40% considered healthy.<\/p>\n<p>With 39% revenue growth and 44% adjusted operating margin, Palantir is doubling the benchmark threshold. They&#8217;ve found both epic growth and epic profitability.<\/p>\n<p><a href=\"https:\/\/investors.palantir.com\/files\/Palantir%20-%20Q1%202025%20Investor%20Presentation.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312936 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1000%2C567&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"567\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=600%2C340&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1904%2C1080&amp;quality=70&amp;ssl=1 1904w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=768%2C436&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1536%2C871&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=2048%2C1162&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1080%2C613&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=980%2C556&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=480%2C272&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/567;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312936\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1000%2C567&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"567\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=600%2C340&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1904%2C1080&amp;quality=70&amp;ssl=1 1904w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=768%2C436&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1536%2C871&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=2048%2C1162&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=1080%2C613&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=980%2C556&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.30.12%E2%80%AFAM-scaled.png?resize=480%2C272&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h2>3. Enterprise Deal Velocity is Accelerating<\/h2>\n<p>The company closed:<\/p>\n<ul>\n<li>139 deals of at least $1 million<\/li>\n<li>51 deals of at least $5 million<\/li>\n<li>31 deals of at least $10 million<\/li>\n<\/ul>\n<p>With US commercial TCV growing 183% year-over-year, enterprise customers are making larger and larger commitments to the Palantir platform. Major enterprise wins including R1 RCM, Citigroup&#8217;s Wealth division, and AIG, who expects Palantir&#8217;s AI-powered underwriting solution to double its 5-year revenue CAGR from 10% to 20%.<\/p>\n<p><a href=\"https:\/\/investors.palantir.com\/files\/Palantir%20-%20Q1%202025%20Investor%20Presentation.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312937 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1000%2C564&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"564\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1915%2C1080&amp;quality=70&amp;ssl=1 1915w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=768%2C433&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1536%2C866&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=2048%2C1155&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1080%2C609&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=980%2C553&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=480%2C271&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/564;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312937\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1000%2C564&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"564\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1915%2C1080&amp;quality=70&amp;ssl=1 1915w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=768%2C433&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1536%2C866&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=2048%2C1155&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=1080%2C609&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=980%2C553&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.31.12%E2%80%AFAM-scaled.png?resize=480%2C271&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h2>4. Adjusted Free Cash Flow Margins Have Nearly Doubled<\/h2>\n<p>Palantir reported adjusted free cash flow of $370 million in Q1 2025, representing a 42% margin. This is an impressive jump from $149 million and 23% margin in Q1 2024. The company now sits on $5.4 billion in cash and equivalents with no debt.<\/p>\n<p>The financial foundation is getting stronger <em>while<\/em> they maintain aggressive growth.<\/p>\n<p><a href=\"https:\/\/investors.palantir.com\/files\/Palantir%20-%20Q1%202025%20Investor%20Presentation.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312934 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=960%2C1000&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"960\" height=\"1000\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?w=960&amp;quality=70&amp;ssl=1 960w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=576%2C600&amp;quality=70&amp;ssl=1 576w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=1037%2C1080&amp;quality=70&amp;ssl=1 1037w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=768%2C800&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=1080%2C1125&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=480%2C500&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 960px) 100vw, 960px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 960px; --smush-placeholder-aspect-ratio: 960\/1000;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312934\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=960%2C1000&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"960\" height=\"1000\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?w=960&amp;quality=70&amp;ssl=1 960w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=576%2C600&amp;quality=70&amp;ssl=1 576w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=1037%2C1080&amp;quality=70&amp;ssl=1 1037w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=768%2C800&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=1080%2C1125&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.29.58%E2%80%AFAM-scaled.png?resize=480%2C500&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/noscript><\/a><\/p>\n<h2>5. Multiple Growth Engines Beyond Just AI<\/h2>\n<p>While AI is a significant driver, Palantir has multiple growth vectors:<\/p>\n<ul>\n<li>Government business continues to thrive with 45% Y\/Y growth to $373 million<\/li>\n<li>The TITAN program was ranked as a top-performing program by US Army leaders<\/li>\n<li>Their Maven Smart System is being deployed to NATO warfighters<\/li>\n<li>Warp Speed is &#8220;powering the re-industrialization of America&#8221; with manufacturing customers<\/li>\n<li>Net dollar retention rate is strong at 124%, showing growing usage from existing customers<\/li>\n<\/ul>\n<p>They&#8217;ve also launched a &#8220;Palantir Degree&#8221; program that recruits graduating high school students directly into internships with paths to full-time roles, bypassing traditional college education.<\/p>\n<p><a href=\"https:\/\/investors.palantir.com\/files\/Palantir%20-%20Q1%202025%20Investor%20Presentation.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312938 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1000%2C564&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"564\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1915%2C1080&amp;quality=70&amp;ssl=1 1915w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=768%2C433&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1536%2C866&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=2048%2C1155&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1080%2C609&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=980%2C553&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=480%2C271&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/564;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312938\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1000%2C564&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"564\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1915%2C1080&amp;quality=70&amp;ssl=1 1915w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=768%2C433&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1536%2C866&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=2048%2C1155&amp;quality=70&amp;ssl=1 2048w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=1080%2C609&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=980%2C553&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.33.21%E2%80%AFAM-scaled.png?resize=480%2C271&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h3>And a few more Interesting Learnings:<\/h3>\n<h2>6. Manufacturing and Supply Chain Optimization is a Major Growth Driver<\/h2>\n<p>Palantir is making significant inroads into manufacturing and supply chain optimization, helping companies navigate on-shore manufacturing capabilities. Their &#8220;Warp Speed&#8221; product is being deployed by clients like Anduril, Epirus, L3Harris, and Panasonic Energy to accelerate manufacturing capabilities, optimize maintenance, and enable advanced fleet management. This vertical focus aligns with broader trends in re-industrialization and supply chain resilience.<\/p>\n<h2>7. Net Dollar Retention Hit 124% &#8211; Signs of Long Team Durable Growth<\/h2>\n<p>Palantir&#8217;s net dollar retention rate of 124% in Q1 2025 indicates that existing customers are significantly expanding their usage year-over-year.<\/p>\n<h2>8. Revenue Per Customer is Growing Substantially<\/h2>\n<p>While Palantir doesn&#8217;t explicitly provide this metric, we can calculate that their commercial revenue per customer has increased substantially. With 622 commercial customers generating $397 million in revenue in Q1 2025, the average revenue per commercial customer is approximately $638,000 per quarter. This continuous increase in revenue concentration indicates Palantir is successfully landing and expanding within enterprise accounts.<\/p>\n<h2>9. Innovative Deployment of Eval-Driven Automation in AIP<\/h2>\n<p>At DevCon 2, Palantir unveiled eval-driven automation in AIP, where users can leverage evaluation feedback loops within their Ontology to improve logic functions for more intelligent automated communication. This technical approach demonstrates how Palantir is pushing innovation in enterprise-focused AI automation, which could further differentiate their platform in the competitive AI landscape.<\/p>\n<h2>10.\u00a0 Epic Acceleration At Scale<\/h2>\n<p>While many today are decelerating from 2021 growth rates, Palantir is &#8230; re-accelerating.<\/p>\n<p><a href=\"https:\/\/www.palantir.com\/q1-2025-letter\/en\/\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312940 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=1000%2C537&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"537\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=600%2C322&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=768%2C413&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=1080%2C580&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=980%2C526&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=480%2C258&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/537;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-312940\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=1000%2C537&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"537\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=600%2C322&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=768%2C413&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=1080%2C580&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=980%2C526&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-09-at-8.35.44%E2%80%AFAM-scaled.png?resize=480%2C258&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h2>Wow.<\/h2>\n<p>Palantir has transformed from a government-focused data company to a commercial AI powerhouse with extremely strong financials. Their Q1 2025 results demonstrate successful expansion across commercial sectors while maintaining their government strength.<\/p>\n<p>For 2025, they&#8217;re projecting:<\/p>\n<ul>\n<li>Revenue between $3.890 billion and $3.902 billion<\/li>\n<li>US commercial revenue exceeding $1.178 billion (68%+ growth)<\/li>\n<li>Adjusted free cash flow between $1.6 billion and $1.8 billion<\/li>\n<\/ul>\n<p>If they continue executing at this level, particularly in commercial markets, Palantir will be one of the defining AI companies of this era.<\/p>\n<p>It&#8217;s already #1 in B2B and SaaS today.<\/p>\n<p>Fire.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So there&#8217;s the 10x ARR club &#8230; hard enough today in B2B and SaaS for public companies.\u00a0 And then there is Palantir.\u00a0 By far the most highly valued B2B software company.\u00a0 78x ARR as we write this! Why?\u00a0 It&#8217;s just a powerhouse right now: $3.5 Billion ARR Growing a stunning 39% (!) &#8230; and accelerating&#8230; <br \/><a class=\"more-link fade\" href=\"https:\/\/www.saastr.com\/5-interesting-learnings-from-palantir-at-3-5-billion-in-arr\/\">Continue Reading<\/a><\/p>\n","protected":false},"author":19,"featured_media":312932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"default","_threads_share_type":"","_selected_social_profile":[]},"categories":[23926,31,28],"tags":[],"class_list":["post-312929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-interesting-things","category-blog-posts","category-scale"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp?fit=625%2C349&quality=65&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5oib2-1jpf","jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/05\/5int.webp","_links":{"self":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/312929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/comments?post=312929"}],"version-history":[{"count":5,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/312929\/revisions"}],"predecessor-version":[{"id":312935,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/312929\/revisions\/312935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media\/312932"}],"wp:attachment":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media?parent=312929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/categories?post=312929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/tags?post=312929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}