Daily Crunch - Palantir docs show $579M net loss

Friday, August 21, 2020 Posted by bloggerdaddy
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Friday, August 21, 2020 By Anthony Ha

We dive into Palantir’s finances, Apple fires back against Epic Games and Lambda School raises funding. This is your Daily Crunch for August 21, 2020.

The big story: Palantir docs show $579M net loss

Danny Crichton got a hold of the confidential S-1 filing for secretive data analytics company Palantir and has been unpacking the details. As far as the top-line numbers go, Palantir reported revenue of $742 million in 2019, up 25% from the previous year, with a net loss of $579 million. And it had exactly 125 customers at the end of the first half of 2020.

In addition, multiple sources have told us that Palantir will have a lockup period after its direct listing. The combination of both a direct listing and lockup period is unusual, as Danny explains:

The lockup will almost certainly help stabilize Palantir's stock post-debut, which will be less volatile since insiders won't be able to trade their shares. However, it is definitely not a vote of confidence that a 17-year-old company thinks it needs to control the selling decisions of its workforce and investors in order to maintain its share price on the public markets.

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