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Palantir still relies heavily on government contracts despite push for more corporate customers

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Palantir, the controversial analytics and data mining firm, still relies heavily on its US government contracts for revenue despite its public statements that it was branching out into more corporate clients, according to screenshots of the company’s S-1 filing acquired by TechCrunch. The financials, which the New York Times also has viewed, show Palantir has not once turned a profit since its founding in 2003.

Add to that the news it’s moving out of Silicon Valley because of “increasing intolerance and monoculture,” and you end up with a picture of a company that doesn’t have a lot of growth potential. It’s now clear Palantir is dependent on the current administration in Washington to maintain its existing revenue streams.

Palantir confidentially filed for an IPO last month, but has yet to announce when it will go public. The S-1 filing shows Palantir had revenue of $742.5 million in 2019, a 25 percent increase from the same period a year earlier. But that wasn’t enough to cover expenses; the company had a net loss of $580 million, according to the Times. It has a private market valuation of $20 billion, and has raised more than $3 billion in funding. That net loss is partly explained by how much money Palantir is burning on marketing — the company spent $450 million on marketing in two years.

As for the increase in revenue, $102 million came from existing Palantir customers, according to TechCrunch‘s analysis. Palantir brought in $345.5 million from work with the US government last year, and $397 million from commercial clients, according to the Times.

Palantir is best known for its work with the US government, which have included a contract with the Army to develop a new intelligence interpretation platform, worth an estimated $823 million. It’s also worked in the past with US Customs and Border Protection to track immigrants and travelers at the border, and in 2018, was found to be secretly testing its predictive policing software in New Orleans.

More recently, Palantir was discovered to be building a tool for the Department of Health and Human Services (HHS) to track the spread of the coronavirus. It remains unclear how that data is being used and collected.

Palantir co-founder Peter Thiel supported President Trump’s election in 2016, and he has reportedly used his status as a member of Facebook’s board of directors to push policies that help the president, especially when it comes to oversight of political ads on the platform. Early on, Thiel supported the president’s reelection, but last month reportedly said he was distancing himself from Trump.

The last 12 months have been a tough time for unicorns; the much-anticipated WeWork IPO flopped and was withdrawn, resulting in co-founder Adam Neumann leaving (with a $1.7 billion payout) and suing investor SoftBank for breach of contract. Short-term rental platform Airbnb confidentially filed for an IPO last week, with the Wall Street Journal valuing the company at about half of its peak 2017 value. So it’s hard to predict who, in 2020, would seek to buy stock in a company known for its secrecy and technology with questionable privacy controls. Especially since these documents suggest Palantir falls short of the hype.

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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