As I write to you on Friday afternoon, the Palantir S-1 has yet to drop, however TechCrunch did break some news regarding the impending filing and simply how huge the company in fact is. Please forgive the block quote, however here’s our reporting:
In screenshots of a draft S-1 declaration dated the other day (August 20), Palantir is listed as producing incomes of roughly $742 million in 2019 (Palantir’s is a fiscal year). That earnings was up from $595 million in 2018, a gain of approximately 25%. […] Palantir lists a bottom line of approximately $580 million for 2019, which is nearly identical to its loss in 2018. The company noted a bottom line percentage of 97% for 2018, enhancing to a loss of 78% for last year.
A couple of notes from this. Those losses are flat icky. Palantir was founded in 2003 or 2004 depending upon who you check out, which suggests that it’s an old company. And it was running an efficient -100% net margin in 2018? Yowza.
Second, what the flocking frack is that profits number? Did you anticipate to see Palantir can be found in with profits of less than $1 billion? If you did, well done. After a deluge of articles over the years talking about just how huge Palantir had actually ended up being, I was anticipating a bit more ( more here for context ). Here are two examples:
- Reporting from TechCrunch that Palantir expected” more than $1 billion in contracts” in 2014
- Reporting from Bloomberg that Palantir had actually “booked offers amounting to $1.7 billion in 2015”
Notably, Palantir’s genuine income result, or one extremely near to it, made it into Company Insider this April. The reporting makes the company’s S-1 less of a climax and more of a denouement. Hello, we’re still happy to have the filing.
The Exchange will have a complete breakdown of Palantir’s numbers Monday early morning, however I believe what Palantir coverage over the years reveals is that when business decline to share specific earnings figures that are clear, simply presume that what they do share is misleading. (ARR is fine, tracking revenue is fine, “agreement” metrics are useless.)
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.