Palantir Posts $1.9 Billion Revenue as US Commercial Sales Jump 149%
Updated
Updated · Business Insider · Aug 4
Palantir Posts $1.9 Billion Revenue as US Commercial Sales Jump 149%
3 articles · Updated · Business Insider · Aug 4
Summary
$1.9 billion in quarterly revenue and $1.1 billion in profit gave Palantir room to tout what CEO Alex Karp called explosive growth driven by an unusually small sales operation.
US commercial revenue hit a record $764 million, up 149% from a year earlier and 28% from the prior quarter, while total US revenue rose 115% to $1.6 billion.
Karp said those gains came with a "miniscule and shrinking" sales headcount, extending his earlier claim that roughly 70 salespeople — with only seven really selling — can match far larger rivals.
The pitch fits the AI industry's "Tiny Teams" trend, though Palantir's overall workforce rose 13% last year to 4,429 employees even as Karp has argued the US commercial business remains nascent.