Palantir Technologies Inc. (PLTR) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
Palantir Technologies Inc. (PLTR) earns a Roarable Rating of B- (Buy) with 71/100 RQD Confidence. Cash-backed 27% return on capital boosted by $637.6M (W9128Z26FA001) in obligated U.S. government contracts. Even if the broader market gets choppy, the company’s underlying cash engine and big-money support put the odds in buyers’ favor.
How PLTR Turns Every Dollar of Sales Into Real Bottom-Line Profit
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $4.48B | 82.4% | 31.6% | $1.63B | $2.10B | 18.7% |
| FY 2024 | $2.87B | 80.3% | 10.8% | $462.2M | $1.14B | 8.4% |
| FY 2023 | $2.23B | 80.6% | 5.4% | $209.8M | $697.1M | 3.6% |
| FY 2022 | $1.91B | 78.6% | -8.5% | -$373.7M | $183.7M | -14.2% |
| FY 2021 | $1.54B | 78% | -26.7% | -$520.4M | $321.2M | -40.5% |
| FY 2020 | $1.09B | 67.7% | -107.4% | -$1.17B | -$308.8M | -100% |
Palantir's FY2025 10-K (accession 0001321655-26-000011) broadens forward-looking downside language around macro headwinds by formally incorporating tariff risks and trade disruptions into operational disclosures. Concurrently, legal risk language has expanded to explicitly cover autonomous 'agentic AI models' and heightened scrutiny of leadership, alongside an explicit admission of growth rate deceleration and contract realization risks across maturing customer segments.
Management expanded liability defenses beyond passive LLMs to explicitly capture 'agentic AI' and operationalized autonomous software execution. Autonomous tool-calling and agentic orchestration introduce critical enterprise liabilities (e.g., unintended data manipulation or autonomous defense system execution errors), signaling elevated regulatory scrutiny and product defect warranty exposure.
Legal counsel removed the legacy net-loss narrative and substituted direct risk warnings regarding contract value shortfalls and growth rate deceleration. Management is insulating the company against future revenue recognition misses caused by customer pilot drop-offs, terminations for convenience, and variable monetization across non-defense customer cohorts.
The direct introduction of 'potential or actual imposition of tariffs or other impacts on trade relations' shifts risk framing from interest rate sensitivity toward cross-border commerce and supply chain friction. This flags downside drag for allied international defense deployments and enterprise expansion in EMEA/APAC subject to retaliatory tariffs or sovereign data export restrictions.
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PLTR Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
SEC XBRL FY2024 → FY2025: Active share-count expansion (monitor SBC & convertibles).
vs. +78.9% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
Trigger: $180.06 • Invalidation: $164.78
PLTR Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is Palantir Technologies Inc. (PLTR)?
In FY 2025 (10-K), PLTR converted $4.5B of revenue into a 82.4% gross margin, 31.6% operating margin, and $2.1B in free cash flow (46.9% FCF margin).