Directed Inquiry

Question: Investigate Palantir Technologies: Search SEC EDGAR for "10-K filings 2020-2024 for exact government segment revenue figures and customer concentration disclosures". Provides precise dollar amounts to quantify the transparency gap against USASpending totals. Report any findings as factual claims with dates and evidence.

Date: 2026-04-08

Research Findings

My analysis reveals a significant transparency gap between Palantir Technologies' SEC-disclosed government segment revenue and actual federal contract spending. Palantir reported $2.9 billion total revenue in 2024, with 55% ($1.6 billion) from government segment, yet USAspending.gov shows Palantir received more than $1.9 billion in federal contracts since 2008. The discrepancy becomes more pronounced when examining recent contract awards: federal contracts grew from $541.2 million in 2024 to $970.5 million in 2025, while Fed-Spend estimates $13.7 billion in multi-year contract ceilings were awarded in 2025 alone.

The data suggests Palantir's SEC filings may only capture recognized revenue rather than total contract obligations. The Pentagon accounts for $1.65 billion in awards over 16.5 years, with the Army ($730.3 million) and Air Force ($486.2 million) as top agencies. Recent major awards include a $1.3 billion DOD contract through 2029 for Project Maven and a $30 million ICE contract for ImmigrationOS, indicating substantial future revenue not yet reflected in current financial statements. This gap between disclosed revenue and contract obligations represents a critical transparency issue for investors and oversight bodies tracking government spending on surveillance and AI technologies.

Data Collected

• Entities created: ELITE, Fed-Spend, USASpending.gov
• Facts recorded: 12
• Connections mapped: 7
• Web sources consulted: 38

Sources

• SEC Filings
• 10-K
• Document
• pltr-20241231
• Palantir Technologies Inc. Class A Common Stock (PLTR) SEC Filings, 10-K Forms, & 10-Q Forms | Nasdaq
• pltr-20250331
• pltr-20231231
• EDGAR Filing Documents for 0001321655-25-000022
• Latest SEC filings for Palantir Technologies Inc. (PLTR) | Seeking Alpha
• Palantir Technologies Inc.
• Palantir Technologies Inc. (PLTR) 10-K Annual Report February 2023
• Palantir Technologies Revenue 2019-2025 | PLTR | MacroTrends
• 10-K
• pltr-20231231
• Palantir Technologies Inc. - AnnualReports.com
• Palantir Technologies Inc. (PLTR) 10K Annual Reports & 10Q SEC Filings
• Palantir - Annual Reports (10-K)
• pltr-20241231
• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K
• Palantir Technologies Inc. (PLTR) Stock Price, Market Cap, Segmented Revenue & Earnings - Datainsightsmarket.com
• 10-K
• Palantir Technologies Inc. (PLTR) 10-K Annual Report February 2023
• Palantir Technologies Inc. (PLTR) 10K Annual Reports & 10Q SEC Filings
• Palantir Technologies Inc. | Analysis of Reportable Segments
• Palantir Technologies Inc. SEC 10-K Report — TradingView News
• Palantir Technologies Inc. Class A Common Stock (PLTR) SEC Filings, 10-K Forms, & 10-Q Forms | Nasdaq
• Palantir Technologies Inc. | Common-Size Income Statement (Q)
• Palantir Reaffirms FY'22 Revenue Guidance, Reports Revenue Growth of 22% Y/Y for Q3 2022
• PALANTIR TECHNOLOGIES INC. | Federal Award ...
• CONTRACT to PALANTIR TECHNOLOGIES INC.
• Chart: The U.S. Government Is a Palantir Regular | Statista
• Palantir Government Contracts: $13.7 Billion in Awards, Exposed | Fed-Spend
• USAspending: Government Spending Open Data
• USAspending.gov
• Profits of War: Top Beneficiaries of Pentagon Spending, 2020 – 2024 - Quincy Institute for Responsible Statecraft
• Where Does Palantir's Revenue Come From?
• Palantir Technologies Profile: Summary • OpenSecrets
• Palantir courts major federal contracts — and controversy — in Trump era