Name: Palantir Technologies Inc. (NASDAQ:PLTR) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Palantir Technologies Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Cash and cash equivalents	3,619,414)	2,030,047)	2,291,631)	1,423,796)	1,615,967)	929,547)	993,464)	2,098,524)	768,710)	512,659)	520,388)	831,047)	1,040,310)	1,055,923)	1,264,738)	2,598,540)	2,411,290)	2,358,393)	2,269,411)	2,290,674)	2,335,068)	2,341,156)	2,339,437)
Marketable securities	6,942,117)	7,379,052)	5,734,782)	5,753,247)	4,821,850)	5,070,875)	4,437,225)	3,131,463)	3,795,949)	3,485,800)	3,347,512)	2,843,132)	2,243,264)	2,047,329)	1,639,797)	35,135)	57,342)	99,210)	252,563)	234,153)	148,077)	—)	—)
Accounts receivable, net	1,883,498)	1,485,249)	1,405,588)	1,042,065)	1,005,910)	747,484)	725,205)	575,048)	668,110)	659,339)	486,986)	364,784)	430,269)	375,756)	254,041)	258,346)	343,264)	265,826)	256,554)	190,923)	174,405)	242,998)	151,400)
Prepaid expenses and other current assets	322,741)	205,165)	119,703)	139,066)	142,429)	142,487)	126,705)	129,254)	119,193)	115,712)	81,178)	99,655)	95,554)	97,906)	97,571)	149,556)	134,714)	179,010)	148,846)	147,500)	153,940)	78,398)	98,861)
Current assets	12,767,770)	11,099,513)	9,551,704)	8,358,174)	7,586,156)	6,890,393)	6,282,599)	5,934,289)	5,351,962)	4,773,510)	4,436,064)	4,138,618)	3,809,397)	3,576,914)	3,256,147)	3,041,577)	2,946,610)	2,902,439)	2,927,374)	2,863,250)	2,811,490)	2,662,552)	2,589,698)
Property and equipment, net	65,000)	61,403)	55,726)	51,960)	45,706)	43,523)	39,669)	39,638)	40,345)	43,483)	46,906)	47,758)	50,133)	54,097)	63,115)	69,170)	57,822)	47,644)	41,866)	31,304)	28,778)	24,824)	27,378)
Operating lease right-of-use assets	244,938)	230,268)	228,980)	200,105)	204,315)	203,474)	209,348)	200,740)	211,570)	213,453)	173,707)	182,863)	190,191)	199,661)	210,019)	200,240)	199,359)	211,410)	224,888)	216,898)	220,846)	209,243)	213,331)
Other assets	335,268)	287,380)	362,773)	290,153)	277,783)	228,298)	205,301)	166,217)	164,220)	161,434)	150,402)	153,186)	143,696)	149,592)	153,857)	150,252)	115,044)	120,845)	125,051)	135,998)	163,213)	179,049)	183,778)
Noncurrent assets	645,206)	579,051)	647,479)	542,218)	527,804)	475,295)	454,318)	406,595)	416,135)	418,370)	371,015)	383,807)	384,020)	403,350)	426,991)	419,662)	372,225)	379,899)	391,805)	384,200)	412,837)	413,116)	424,487)
Total assets	13,412,976)	11,678,564)	10,199,183)	8,900,392)	8,113,960)	7,365,688)	6,736,917)	6,340,884)	5,768,097)	5,191,880)	4,807,079)	4,522,425)	4,193,417)	3,980,264)	3,683,138)	3,461,239)	3,318,835)	3,282,338)	3,319,179)	3,247,450)	3,224,327)	3,075,668)	3,014,185)

Total assets exhibit a consistent and accelerating upward trajectory, growing from approximately $3.01 billion in March 2021 to $13.41 billion by September 2026. This expansion is almost entirely driven by the growth of current assets, which rose from $2.59 billion to $12.77 billion over the analyzed period, indicating a significant increase in the company's liquidity position and overall scale.

Liquidity and Cash Management: A strategic shift in liquidity composition is observed starting in early 2023. While cash and cash equivalents remained relatively stable near $2.3 billion through 2022, they experienced a sharp decline beginning in March 2023. Simultaneously, marketable securities saw explosive growth, rising from negligible levels in 2021 to $6.94 billion by September 2026. This suggests a transition toward higher-yielding short-term investments rather than holding idle cash.
Operational Scaling and Receivables: Accounts receivable, net, demonstrate a strong upward trend, increasing from $151.4 million in March 2021 to $1.88 billion in September 2026. This growth pattern typically correlates with expanding revenue streams and larger contract values, although the acceleration in the later periods suggests a significant increase in the volume of outstanding customer obligations.
Asset Structure and Capital Intensity: The asset base is characterized by low capital intensity. Property and equipment, net, and operating lease right-of-use assets remained minimal relative to total assets, with property and equipment peaking at $65 million in September 2026. Noncurrent assets grew moderately from $424.5 million to $645.2 million, confirming that the company's growth is not dependent on heavy investments in physical infrastructure.
Working Capital Trends: Prepaid expenses and other current assets remained relatively stable for several years before showing a marked increase in 2026, reaching $322.7 million. When combined with the growth in receivables and liquid securities, the current asset growth suggests a robust capacity to meet short-term obligations and fund operational expansions.

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Palantir Technologies Inc. (NASDAQ:PLTR)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data