--- title: "Palantir Tech | 10-K: FY2025 Revenue Beats Estimate at USD 4.475 B" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276115763.md" datetime: "2026-02-17T11:16:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276115763.md) - [en](https://longbridge.com/en/news/276115763.md) - [zh-HK](https://longbridge.com/zh-HK/news/276115763.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/276115763.md) | [English](https://longbridge.com/en/news/276115763.md) # Palantir Tech | 10-K: FY2025 Revenue Beats Estimate at USD 4.475 B Revenue: As of FY2025, the actual value is USD 4.475 B, beating the estimate of USD 4.399 B. EPS: As of FY2025, the actual value is USD 0.63, beating the estimate of USD 0.5719. EBIT: As of FY2025, the actual value is USD 1.185 B. #### Segment Revenue - **Total Revenue** increased by $1,609,939 thousand, or 56%, from $2,865,507 thousand in 2024 to $4,475,446 thousand in 2025. - **Government Segment Revenue** grew by $832,682 thousand, or 53%, from $1,569,605 thousand in 2024 to $2,402,287 thousand in 2025, representing 54% of total revenue in 2025. Of this increase, $774,000 thousand came from government customers existing as of December 31, 2024. Revenue from U.S. government customers was $1,900,000 thousand in 2025, up from $1,200,000 thousand in 2024. - **Commercial Segment Revenue** increased by $777,257 thousand, or 60%, from $1,295,902 thousand in 2024 to $2,073,159 thousand in 2025, accounting for 46% of total revenue in 2025. $425,200 thousand of this increase was from commercial customers existing as of December 31, 2024, despite a decrease of $37,000 thousand from Strategic Commercial Contracts. U.S. commercial customers revenue saw a 109% increase, reaching $1,500,000 thousand in 2025 from $702,300 thousand in 2024. - **Geographic Revenue** in 2025 comprised 74% from U.S. customers and 26% from non-U.S. customers. Revenue from U.S. customers totaled $3,300,000 thousand in 2025, a 75% increase from the prior twelve-month period. #### Operational Metrics - **Income from Operations** was $1,414,015 thousand in 2025, up from $310,403 thousand in 2024. - **Adjusted Income from Operations** (excluding stock-based compensation and related employer payroll taxes) was $2,254,100 thousand in 2025 (50% adjusted operating margin), compared to $1,128,062 thousand in 2024 (39% adjusted operating margin). - **Gross Profit** was $3,686,269 thousand in 2025, an increase from $2,299,517 thousand in 2024. - **Gross Margin** improved to 82% in 2025 from 80% in 2024. - **Gross Profit, excluding stock-based compensation**, was $3,750,824 thousand (84% gross margin) in 2025, compared to $2,368,582 thousand (83% gross margin) in 2024. - **Operating Expenses**: - **Sales and Marketing** expenses increased by $169,104 thousand, or 19%, to $1,056,859 thousand in 2025 from $887,755 thousand in 2024, primarily due to increases in payroll and related costs, marketing, and stock-based compensation. - **Research and Development** expenses rose by $49,799 thousand, or 10%, to $557,677 thousand in 2025 from $507,878 thousand in 2024, mainly driven by third-party cloud hosting services and payroll costs, partially offset by a decrease in stock-based compensation. - **General and Administrative** expenses increased by $64,237 thousand, or 11%, to $657,718 thousand in 2025 from $593,481 thousand in 2024, primarily due to stock-based compensation and related expenses, and payroll and related costs. - **Stock-Based Compensation Expense (Total)** decreased by $7,605 thousand, or 1%, to $684,033 thousand in 2025 from $691,638 thousand in 2024, mainly due to reductions from SARs fully vested and expensed in 2024, partially offset by new grants. #### Cash Flow - **Net cash provided by operating activities** was $2,134,473 thousand in 2025, up from $1,153,865 thousand in 2024. - **Net cash used in investing activities** was -$2,783,551 thousand in 2025, significantly higher than -$340,655 thousand in 2024. - **Net cash used in financing activities** was -$26,910 thousand in 2025, a shift from net cash provided of $463,364 thousand in 2024. #### Unique Metrics - **Number of Customers** increased to 954 as of December 31, 2025, from 711 as of December 31, 2024. - **Average Revenue for Top Twenty Customers** for the trailing twelve months ended December 31, 2025, was $93,900 thousand, compared to $64,600 thousand for the same period in 2024. - **Total Remaining Deal Value (TRDV)** as of December 31, 2025, was $11,200,000 thousand, representing a 105% increase from $5,400,000 thousand in 2024. Commercial TRDV increased by 117% to $6,800,000 thousand, and Government TRDV increased by 90% to $4,400,000 thousand. - **IDIQ Contracts** (not included in TRDV) amounted to $12,300,000 thousand as of December 31, 2025. - **Dollar-Weighted Average Contract Duration** as of December 31, 2025, is expected to generate revenue for an additional four years. #### Outlook / Guidance Palantir Technologies Inc. expects cost of revenue, sales and marketing, and research and development expenses to increase in absolute dollars due to continued investment in growth, customer expansion, and platform development. The company anticipates U.S. and government customers will remain significant drivers of revenue growth, especially during economic uncertainty. While monitoring macroeconomic impacts, Palantir Technologies Inc. does not expect current challenging conditions to materially affect its business or results of operations. ### 相關股票 - [Palantir Tech (PLTR.US)](https://longbridge.com/zh-HK/quote/PLTR.US.md) ## 相關資訊與研究 - [Does This Impressive Chart Justify Palantir's High Valuation?](https://longbridge.com/zh-HK/news/281103947.md) - [Palantir vs. Oracle: 1 AI Stock Looks Cheap](https://longbridge.com/zh-HK/news/281400403.md) - [Society Pass Delays Annual 10-K Yearly Filing](https://longbridge.com/zh-HK/news/281287662.md) - [Polar Power Delays Annual 10-K Filing](https://longbridge.com/zh-HK/news/281283373.md) - [SurgePays Delays Filing of Annual 10-K Report](https://longbridge.com/zh-HK/news/281284831.md)