Palantir: A Year in Review

Introduction:

2022 held very few safe havens for investors. The Federal Reserve hiked interest rates to combat record levels of inflation at the same time as the Ukraine-Russia conflict was occurring. The Nasdaq composite, a tech-heavy index, finished the year down 33%.

Palantir Technologies (PLTR) finished the year down 64.74%. Although the stock price is down, Palantir's financials and business have improved YoY.

Year in Review:

Admittedly, Palantir took a beating in 2022. Let's look at some of the notable announcements, partnerships, and news we received over the last year. The following is not an ALL Inclusive list:

Palantir Expands to South Korea

Palantir Technologies and Hyundai Heavy Industries plan to form a joint venture to commercialize big data solutions. This partnership is later expanded in 2022 to include +$45M with expansion into Shipbuilding

CDC Partners with Palantir to fight against COVID-19

Palantir eventually expands the CDC partnership for Disease Monitoring and Response later in 2022.

Palantir Expands Partnership with U.S Space Systems Command

A $53M increase in May to its 2021 award of a $121.5M contract. This increase brings the total value of the contract to $175M and ensures the continuous delivery of Palantir’s data and decisions platform to support national security objectives through 3/23.

Palantir Named Overall Leader in Dresner Wisdom of Crowds BI Market Study

Palantir ranked #1 overall over Microsoft, Snowflake, and Oracle in the study. To view the full report and see how Palantir compared to its peers, visit https://www.palantir.com/dresner-wisdom-of-crowds-2022/.

Army Selects Palantir to Build TITAN Program Competitive Prototype

One of two companies awarded a prime contract by the Army to build a prototype for the Tactical Intelligence Targeting Access Node (TITAN), the first Intelligence ground station enabled by Artificial Intelligence and Machine Learning (AI/ML). The $36 million contract award is for the competitive prototyping phase that will span 14 months.

Palantir Named a Leader in Forrester Research Firm

Palantir’s Foundry operating system received the highest possible scores in the product vision, performance, market approach, and application criteria. To view the full report and see how Palantir compared to the other top AI/ML platforms, visit https://www.palantir.com/forrester-wave-2022.

FDA and Palantir Partner to Modernize Food Supply Chain

Palantir will act as the central operating platform for proactive food supply chain disruption monitoring and crisis response. The contract is worth $22 million.

Palantir Held its First Customer Conference, FoundryCon

The customer conference was open to shareholders, global customers, the press and the general public for the first time. The following notable speakers praised Foundry has transformed their organizations:

• Jacobs: John Rickermann, Managing Director

• Morgan Stanley: James Boustead, Global Head of Legal, Compliance & Governance Technology

• US Space Systems Command: Colonel Jennifer Krolikowski, Chief Information Officer

• Apache: Travis Osborne, VP Information Technology

• National Cancer Institute, NIH: Jeff Shilling, Chief Information Officer

• Tyson Foods: Scott Spradley, Chief Technology Officer

Tampa General Hospital and Palantir Partner to Improve Patient Care.

Tampa General will be utilizing Palantir Foundry as the foundation of their data platform, employing AI capabilities to augment critical decision-making on the frontlines and furthering its mission to become the safest and most innovative academic health system in America.

UK Ministry of Defense awards Palantir £75 million Over Three Years

The partnership will support the MOD's digital transformation as it becomes a world-leading agile force of the future. Spearheaded by Defence Digital and powered by Palantir, the digital transformation will see the MOD treat data as a strategic asset, harnessing its power to deliver superior military advantage and greater efficiency across the enterprise, from headquarters to the front lines.

Conclusion:

Palantir is growing its top-line revenue, increasing its commercial customer count, and becoming the United States' first Software Prime contractor. The stock took a beating in 2022, but the company itself, only improved. There are many things to look forward to in 2023 as a Palantir shareholder.

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