Aslan Research · AI software
Palantir Technologies Inc. (PLTR)
Data as of 2026-08-21 · 26 quarters · filed in USD
Revenue reached $6.2 billion over the trailing year, while expenses were $3.0 billion. Revenue growth of 37% also outpaced expense growth of 7%, showing faster expansion than the cost base.
Earned, collected early, and merely signed
Reports — of debt; has promised $211M
The $211 million of total commitments all came from leases. That puts the disclosed commitment total close to the recognized debt burden shown in the page’s comparison.
What the promised total is made of, latest quarter
Spending, by reported line
When the promises come due
The backlog covers 0.8x one year of revenue. Most of the scheduled obligations fall within the next five years, with $4.3 billion due in that period and $3.3 billion due in years five through ten.
The rates that matter
Expenses as filed vs after cited reconciliation
6 patterns worth a second look
The cloud-hosting commitment was redefined from at least $1.49 billion over six contract years to at least $5.6 billion over ten contract years. Other disclosures include investments alongside commercial contracts and revenue, future leases not yet commenced, and recurring revenue from investee or associated-entity customers. A $50.0 million service-credit prepayment from Palantir Japan appears in FY2020 but is not separately reported later.
circular financing · 1
The filings report investments in investees alongside commercial contracts and revenue from those investees.
off balance sheet · 1
The filings report substantial future lease obligations, including leases not yet commenced, in addition to recognized operating lease liabilities.
redefinition · 1
The cloud-hosting commitment changes from at least $1.49 billion over six contract years to at least $1.95 billion over ten contract years, and later to at least $5.6 billion over ten contract years.
related party exposure · 1
The filings report recurring revenue and significant contractual value from investee or associated-entity customers, alongside related-party ownership or investment relationships.
subsequent event · 1
The filings report post-period financing and investment commitments that recontextualize the preceding quarter or year.
vanishing item · 1
The FY2020 filing reports a $50.0 million service-credit prepayment from Palantir Japan, which is not separately reported in the later catalog.