Palantir Soars Past $2B Revenue, Unveils AI Platform, Sets Sights on S&P 500
• Palantir has transformed from a government contractor to an enterprise software provider, with commercial revenue growth of 70% in Q4 2022 • The company unveiled its Palantir Artificial Intelligence Platform (AIP) in 2022 and is using "boot camps" to demonstrate it to potential customers • In 2023, Palantir grew revenue 17% year-over-year to over $2 billion, expanded operating margin to 28%, and increased free cash flow 260% • At 25.7x price-to-sales, Palantir trades at a premium valuation but saw its multiple surge after strong Q4 earnings • With leadership in AI and eligibility for S&P 500 inclusion, analyst Dan Ives sees 40%+ upside for Palantir stock