Palantir's Flat RPO not Seen Representing Demand Slowdown
Dow Jones00:57
1157 ET - Palantir's remaining performance obligations were flat quarter-over-quarter, but investors shouldn't interpret that as a slowdown in demand, UBS analysts write. The company attributes the result to its decision to ramp up its "Sovereign AI" customers through 12-month contracts that don't appear as part of the metric. "While the backlog growth moderation is disappointing, if a demand slowdown were to blame, one would think we'd see some evidence of this in reported/guided growth and NRR," the analysts write. "We did not." Palantir is off 2.9% at $173.19.
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