financial statements

The full income statement, balance sheet, and cash-flow statement for Palantir Technologies Inc. (PLTR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	4.48B YoY+56.2%	2.87B YoY+28.8%	2.23B YoY+16.7%	1.91B YoY+23.6%	1.54B YoY+41.1%
	3.69B YoY+60.3%	2.30B YoY+28.2%	1.79B YoY+19.8%	1.50B YoY+24.5%	1.20B YoY+62.5%
Cost of revenue	789M YoY+39.4%	566M YoY+31.3%	431M YoY+5.5%	409M YoY+20.4%	339M YoY-3.7%
	2.27B YoY+14.2%	1.99B YoY+18.8%	1.67B YoY+0.9%	1.66B YoY+2.8%	1.61B YoY-15.7%
Research & development	558M YoY+9.8%	508M YoY+25.5%	405M YoY+12.5%	360M YoY-7.2%	387M YoY-30.9%
Selling, general & administrative	658M YoY+10.8%	593M YoY+13.2%	524M YoY-12.1%	596M YoY-2.5%	612M YoY-8.7%
General & administrative	658M YoY+10.8%	593M YoY+13.2%	524M YoY-12.1%	596M YoY-2.5%	612M YoY-8.7%
Selling & marketing	1.06B YoY+19.0%	888M YoY+19.2%	745M YoY+6.0%	703M YoY+14.3%	615M YoY-10.1%
Amortization of intangibles	—	7.80M YoY-18.8%	9.60M	0.00	—
Operating income	1.41B YoY+355.5%	310M YoY+158.7%	120M YoY+174.4%	-161M YoY+60.8%	-411M YoY+65.0%
Interest expense	—	—	3.47M YoY-14.5%	4.06M YoY+11.5%	3.64M YoY-74.3%
Interest & investment income	229M YoY+16.5%	197M YoY+48.4%	133M YoY+552.8%	20.3M YoY+1163.8%	1.61M YoY-65.7%
Other non-operating income	14.2M YoY+178.6%	-18.0M YoY-16.7%	-15.4M YoY+93.0%	-220M YoY-191.9%	-75.4M YoY-1934.5%
Pre-tax income	1.66B YoY+238.8%	489M YoY+106.3%	237M YoY+165.7%	-361M YoY+26.1%	-488M YoY+58.6%
Income tax	22.7M YoY+6.9%	21.3M YoY+7.8%	19.7M YoY+95.8%	10.1M YoY-68.4%	31.9M YoY+352.3%
	1.63B YoY+251.6%	462M YoY+120.3%	210M YoY+156.1%	-374M YoY+28.2%	-520M YoY+55.4%
Net income to non-controlling interest	9.61M YoY+67.8%	5.73M YoY-24.1%	7.55M YoY+189.2%	2.61M	0.00
Net income to common	—	—	—	-374M YoY+28.2%	-520M YoY+55.4%
	$0.63 YoY+231.6%	$0.19 YoY+111.1%	$0.09 YoY+150.0%	-$0.18 YoY+33.3%	-$0.27 YoY+77.5%
EPS (basic)	$0.69 YoY+228.6%	$0.21 YoY+110.0%	$0.10 YoY+155.6%	-$0.18 YoY+33.3%	-$0.27 YoY+77.3%
Weighted-avg shares (basic)	2.37B YoY+5.3%	2.25B YoY+4.8%	2.15B YoY+4.1%	2.06B YoY+7.3%	1.92B YoY+96.7%
Weighted-avg shares (diluted)	2.57B YoY+4.7%	2.45B YoY+6.7%	2.30B YoY+11.3%	2.06B YoY+7.3%	1.92B YoY+96.4%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	8.36B YoY+40.8%	5.93B YoY+43.4%	4.14B YoY+36.1%	3.04B YoY+6.2%	2.86B YoY+26.8%
Cash & equivalents	1.42B YoY-32.2%	2.10B YoY+152.5%	831M YoY-68.0%	2.60B YoY+13.4%	2.29B YoY+13.9%
Short-term investments	5.75B YoY+83.7%	3.13B YoY+10.1%	2.84B YoY+7992.0%	35.1M YoY-85.0%	234M
Accounts receivable	1.04B YoY+81.2%	575M YoY+57.6%	365M YoY+41.2%	258M YoY+35.3%	191M YoY+21.7%
Prepaid expenses	139M YoY+7.6%	129M YoY+29.7%	99.7M YoY-33.4%	150M YoY+34.9%	111M YoY+113.7%
	8.90B YoY+40.4%	6.34B YoY+40.2%	4.52B YoY+30.7%	3.46B YoY+6.6%	3.25B YoY+20.7%
Property, plant & equipment	52.0M YoY+31.1%	39.6M YoY-17.0%	47.8M YoY-31.0%	69.2M YoY+121.0%	31.3M YoY+6.0%
Operating lease right-of-use	200M YoY-0.3%	201M YoY+9.8%	183M YoY-8.7%	200M YoY-7.7%	217M YoY-0.1%
Goodwill	37.9M YoY+0.0%	37.9M YoY+0.0%	37.9M YoY+0.0%	37.9M YoY+1929.9%	1.87M
Intangible assets	14.6M YoY-19.1%	18.1M YoY-30.3%	25.9M YoY-27.1%	35.5M YoY+826.5%	3.84M
Other non-current assets	290M YoY+74.6%	166M YoY+8.5%	153M YoY+2.0%	150M YoY+55.9%	96.4M YoY-9.9%
	1.18B YoY+18.0%	996M YoY+33.5%	746M YoY+26.9%	588M YoY-10.9%	660M YoY+9.3%
Accounts payable	8.06M YoY+7729.1%	103K YoY-99.2%	12.1M YoY-72.9%	44.8M YoY-40.2%	74.9M YoY+357.9%
Accrued liabilities	356M YoY-16.7%	427M YoY+91.5%	223M YoY+29.1%	173M YoY+10.9%	156M YoY-1.7%
Deferred revenue	409M YoY+57.5%	260M YoY+5.2%	247M YoY+34.7%	183M YoY-19.5%	228M YoY+20.2%
Current lease liability	45.9M YoY+4.3%	44.0M YoY-18.8%	54.2M YoY+20.1%	45.1M YoY+13.0%	39.9M YoY+37.3%
	1.41B YoY+13.3%	1.25B YoY+29.6%	961M YoY+17.4%	819M YoY-14.4%	956M YoY-18.1%
Long-term debt	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Deferred revenue (non-current)	46.2M YoY+15.9%	39.9M YoY+42.2%	28.0M YoY+181.5%	9.96M YoY-75.2%	40.2M YoY-20.4%
Non-current lease liability	183M YoY-6.0%	195M YoY+11.4%	175M YoY-14.2%	204M YoY-7.2%	220M YoY-4.2%
Other non-current liabilities	7.09M YoY-48.2%	13.7M YoY+27.9%	10.7M YoY-15.4%	12.7M YoY+450.9%	2.30M YoY-46.8%
	7.39B YoY+47.6%	5.00B YoY+44.0%	3.48B YoY+35.5%	2.57B YoY+12.0%	2.29B YoY+50.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	2.39M YoY+2.2%	2.34M YoY+6.3%	2.20M YoY+4.8%	2.10M YoY+3.6%	2.03M YoY+13.1%
Additional paid-in capital	10.9B YoY+7.3%	10.2B YoY+11.7%	9.12B YoY+8.2%	8.43B YoY+8.4%	7.78B YoY+19.9%
Retained earnings	-3.56B YoY+31.3%	-5.19B YoY+8.2%	-5.65B YoY+3.6%	-5.86B YoY-6.8%	-5.49B YoY-10.5%
Treasury stock	0.00	0.00	0.00	0.00	0.00
Accumulated other comprehensive income	13.9M YoY+348.5%	-5.61M YoY-800.5%	801K YoY+115.0%	-5.33M YoY-127.0%	-2.35M YoY+14.4%
Non-controlling interest	101M YoY+10.5%	91.1M YoY+6.7%	85.4M YoY+10.8%	77.1M	0.00
Total equity incl. non-controlling	7.49B YoY+47.0%	5.09B YoY+43.1%	3.56B YoY+34.8%	2.64B YoY+15.3%	2.29B YoY+50.5%
Total liabilities & equity	8.90B YoY+40.4%	6.34B YoY+40.2%	4.52B YoY+30.7%	3.46B YoY+6.6%	3.25B YoY+20.7%
Common shares issued	2.39B YoY+2.2%	2.34B YoY+6.3%	2.20B YoY+4.8%	2.10B YoY+3.5%	2.03B YoY+13.1%
Common shares outstanding	2.39B YoY+2.2%	2.34B YoY+6.3%	2.20B YoY+4.8%	2.10B YoY+3.5%	2.03B YoY+13.1%
Shares outstanding (cover)	2.39B YoY+2.2%	2.34B YoY+6.3%	2.20B YoY+4.8%	2.10B YoY+3.5%	2.03B YoY+13.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.13B YoY+85.0%	1.15B YoY+62.0%	712M YoY+218.3%	224M YoY-33.0%	334M YoY+212.6%
Depreciation & amortization	26.1M YoY-17.2%	31.6M YoY-5.3%	33.4M YoY+48.1%	22.5M YoY+51.2%	14.9M YoY+7.4%
Share-based compensation	684M YoY-1.1%	692M YoY+45.3%	476M YoY-15.7%	565M YoY-27.4%	778M YoY-38.8%
Deferred income taxes	-3.91M YoY-591.5%	-566K YoY+88.2%	-4.81M YoY-2662.1%	-174K YoY-100.4%	43.3M YoY+312.5%
Change in receivables	450M YoY+113.3%	211M YoY+98.9%	106M YoY+45.8%	72.8M YoY+106.7%	35.2M YoY-67.5%
Change in payables	—	-18.8M YoY+40.8%	-31.8M YoY-6.6%	-29.9M YoY-151.7%	57.8M YoY+266.6%
Other operating activities	15.6M YoY-76.3%	66.0M YoY+417.3%	12.8M YoY+145.3%	-28.2M YoY-1117.4%	2.77M YoY-35.4%
	-2.78B YoY-717.1%	-341M YoY+87.4%	-2.71B YoY-5868.2%	-45.4M YoY+88.6%	-398M YoY-2567.0%
Capital expenditure	33.9M YoY+168.2%	12.6M YoY-16.4%	15.1M YoY-62.2%	40.0M YoY+217.0%	12.6M YoY+3.2%
Acquisitions	—	—	0.00 YoY+100.0%	-66.7M	0.00
Other investing activities	1.00M	0.00 YoY+100.0%	-51.1M YoY+23.5%	-66.8M YoY-1825.2%	3.87M YoY+44.2%
	-26.9M YoY-105.8%	463M YoY+111.7%	219M YoY+154.5%	86.0M YoY-72.0%	307M YoY-70.4%
Common stock issued	—	—	—	0.00	0.00 YoY-100.0%
Common stock repurchased	75.0M YoY+16.8%	64.2M	0.00	0.00	0.00 YoY-100.0%
Other financing activities	85.0K YoY-80.9%	444K YoY-26.1%	601K YoY+746.2%	-93.0K YoY+86.9%	-708K YoY+83.4%
FX effect on cash	7.48M YoY+210.9%	-6.75M YoY-330.2%	2.93M YoY+175.4%	-3.88M YoY+0.8%	-3.92M YoY-411.2%
Net change in cash	-669M YoY-152.6%	1.27B YoY+171.4%	-1.78B YoY-782.4%	260M YoY+9.1%	239M YoY-67.1%
Interest paid	—	—	—	5.00K YoY-99.8%	2.77M YoY-75.7%
Income taxes paid	21.7M YoY+34.0%	16.2M YoY+19.7%	13.5M YoY+365.4%	2.90M YoY-29.7%	4.13M YoY-71.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	425B YoY+140.3%	177B YoY+368.2%	37.8B YoY+180.3%	13.5B YoY-63.5%	36.9B YoY-12.5%
P/E	261.6× YoY-31.7%	382.7× YoY+50.9%	253.5×	—	—
P/S	95.0× YoY+53.9%	61.7× YoY+251.3%	17.6× YoY+140.9%	7.3× YoY-69.5%	23.9× YoY-38.0%
P/B	57.5× YoY+62.7%	35.4× YoY+202.0%	11.7× YoY+109.3%	5.6× YoY-65.3%	16.1× YoY-41.9%
P/FCF	202.3× YoY+30.5%	155.0× YoY+97.0%	78.7× YoY+16.4%	67.6× YoY-41.2%	114.9×
Earnings yield	0.4% YoY+46.3%	0.3% YoY-33.8%	0.4%	—	—
FCF yield	0.5% YoY-23.4%	0.6% YoY-49.2%	1.3% YoY-14.1%	1.5% YoY+70.0%	0.9%
Source filing	DEF 14A	10-K	10-K	DEF 14A	10-K

About this data

Source: PLTR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PLTR filings on SEC EDGAR → Not investment advice.

PLTR▼ financial statements

About this data

financial statements