$PLTR
The $480M contract Palantir got yesterday isn’t split evenly over 5 years. Instead of $96M this year, we’ll be getting $153M. The Army is so confident in Palantir they want to give them 31% of the entire contract in year one.
Analysts will have to start baking into their numbers revised growth estimates from this deal and if Palantir can raise guidance from 21% to about 22-23% YOY growth, the street is going to like seeing top line growth acceleration.
They will also like seeing government revenue continuing to increase. It increased from 11% two quarters ago to 16% last Q. On top of that, we got another $33M deal today…
In the past 3 months, Palantir has received $700M across 3 deals from the DoD.
One of the only SaaS names that wasn’t red today — yes after hours pop faded, but the fact that we maintained green on a day that Mongo $MDB fell 25% and $CRM Salesforce continued to fall is incredible. $SNOW Snowflake was down another 3% after hours as well.
This government business is sticky and the DoD wants to, actually HAS to, spend BILLIONS on AI over the next decade.
Palantir is going to get a chunk of that money and within 3 months, we got $700M of it to start the year.
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