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.

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

US$ in thousands

	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	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	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	1,405,588)	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	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	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	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	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	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	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	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 grew substantially over the observed period, increasing from 3.01 billion USD in March 2021 to 10.20 billion USD by March 2026. This expansion was primarily driven by a significant increase in current assets, which rose from 2.59 billion USD to 9.55 billion USD, reflecting a strategic accumulation of liquid resources and an expansion of operational scale.

Liquidity and Cash Management: A strategic shift in liquidity composition is evident. From March 2021 through December 2022, the asset base was dominated by cash and cash equivalents, which remained relatively stable around 2.3 billion USD. Starting in March 2023, a pivot occurred where cash holdings were reduced in favor of marketable securities. Marketable securities grew from negligible levels in early 2021 to 5.73 billion USD by March 2026. This suggests a transition toward a more sophisticated treasury management strategy to optimize returns on excess capital.
Operational Growth Indicators: Accounts receivable, net, demonstrated a consistent upward trajectory, increasing from 151.4 million USD in March 2021 to 1.41 billion USD in March 2026. This growth indicates a significant increase in credit sales and overall business volume, as the amount of capital tied up in customer obligations grew nearly tenfold over the five-year span.
Noncurrent Asset Stability: Noncurrent assets remained a small fraction of the total asset base, growing from 424.5 million USD to 647.5 million USD. Property and equipment, net, showed minimal volatility, fluctuating between 24.8 million USD and 69.2 million USD, suggesting a capital-light business model. Operating lease right-of-use assets remained remarkably stable, consistently hovering around the 200 million USD mark throughout the entire period.
Asset Composition Trend: The proportion of current assets relative to total assets increased over time. In March 2021, current assets represented approximately 86% of total assets; by March 2026, this proportion rose to approximately 93%. The balance sheet has become increasingly liquid, with the vast majority of value held in cash, marketable securities, and receivables.

Palantir Technologies Inc. (NASDAQ:PLTR)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Palantir Technologies Inc. (NASDAQ:PLTR)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data