Latest and Hotest Technology Updates: Daily Crunch - Palantir docs show $579M net loss

Daily Crunch - Palantir docs show $579M net loss

Friday, August 21, 2020 Posted by bloggerdaddy

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.

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

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