Goblin House
Goblin House
Question: Investigate Palantir Technologies: Search SEC EDGAR for "Palantir Technologies 10-K forms 2021-2024, search for 'government segment revenue' and geographic/customer concentration disclosures". Would provide exact government revenue figures to compare against USASpending contract totals. Report any findings as factual claims with dates and evidence.
Date: 2026-04-08
Investigation of Palantir's SEC filings reveals significant government segment concentration with consistent 54-56% revenue share ($1.57B in 2024). Government segment revenue has grown from $1.067B (56%) in 2022 to $1.22B (54.93%) in 2023 to $1.57B (55%) in 2024, representing a compound annual growth rate. Customer concentration remains high with top three customers accounting for 17% of 2024 revenue and average revenue per top 20 customers increasing from $54.6M to $64.6M year-over-year.
USASpending contract data shows potential understatement of government dependency in SEC filings. Palantir has received over $1.9 billion in federal contracts since 2008, with DOD accounting for $1.65 billion (87% of tracked obligations). The Army leads with $730.3 million, followed by Air Force at $486.2 million and Special Operations Command at $303.7 million. However, this excludes classified intelligence contracts and newer IRS/DOGE work, suggesting actual government revenue concentration may be significantly higher than the 55% disclosed in SEC filings. Geographic concentration is also notable with 66% of revenue from U.S. customers in 2024.