Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Palantir Technologies Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	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
Revenue	1,181,092)	1,003,697)	883,855)	827,519)	725,516)	678,134)	634,338)	608,350)	558,159)	533,317)	525,186)	508,624)	477,880)	473,010)	446,357)	432,867)	392,146)	375,642)	341,234)
Cost of revenue	(207,307)	(192,934)	(172,970)	(174,533)	(146,639)	(128,562)	(116,256)	(108,639)	(107,922)	(106,899)	(107,645)	(104,311)	(107,611)	(102,224)	(94,403)	(87,563)	(86,804)	(90,926)	(74,111)
Gross profit	973,785)	810,763)	710,885)	652,986)	578,877)	549,572)	518,082)	499,711)	450,237)	426,418)	417,541)	404,313)	370,269)	370,786)	351,954)	345,304)	305,342)	284,716)	267,123)
Sales and marketing	(274,636)	(243,788)	(236,309)	(288,295)	(209,474)	(196,809)	(193,177)	(197,363)	(176,373)	(184,163)	(187,093)	(190,233)	(182,918)	(168,875)	(160,485)	(162,593)	(153,443)	(162,379)	(136,097)
Research and development	(144,191)	(135,043)	(134,889)	(171,502)	(117,555)	(108,781)	(110,040)	(109,283)	(105,708)	(99,533)	(90,100)	(82,044)	(100,863)	(88,171)	(88,601)	(84,176)	(94,316)	(110,524)	(98,471)
General and administrative	(161,702)	(162,615)	(163,639)	(182,146)	(138,708)	(138,643)	(133,984)	(127,271)	(128,173)	(132,648)	(136,233)	(149,862)	(148,679)	(155,485)	(142,307)	(157,478)	(149,524)	(157,961)	(146,569)
Operating expenses	(580,529)	(541,446)	(534,837)	(641,943)	(465,737)	(444,233)	(437,201)	(433,917)	(410,254)	(416,344)	(413,426)	(422,139)	(432,460)	(412,531)	(391,393)	(404,247)	(397,283)	(430,864)	(381,137)
Income (loss) from operations	393,256)	269,317)	176,048)	11,043)	113,140)	105,339)	80,881)	65,794)	39,983)	10,074)	4,115)	(17,826)	(62,191)	(41,745)	(39,439)	(58,943)	(91,941)	(146,148)	(114,014)
Interest income	59,762)	56,255)	50,441)	54,727)	52,120)	46,593)	43,352)	44,545)	36,864)	30,310)	20,853)	12,750)	5,540)	1,472)	547)	480)	379)	372)	376)
Interest expense	—)	—)	—)	—)	—)	—)	—)	(136)	(742)	(1,317)	(1,275)	(1,712)	(1,082)	(670)	(594)	(601)	(609)	(590)	(1,840)
Other income (expense), net	27,483)	6,596)	(3,173)	14,768)	(8,110)	(11,173)	(13,507)	(3,956)	3,864)	(9,024)	(2,861)	44,637)	(65,046)	(135,798)	(59,870)	(64,118)	(8,528)	2,125)	(4,894)
Income (loss) before (provision for) benefit from income taxes	480,501)	332,168)	223,316)	80,538)	157,150)	140,759)	110,726)	106,247)	79,969)	30,043)	20,832)	37,849)	(122,779)	(176,741)	(99,356)	(123,182)	(100,699)	(144,241)	(120,372)
(Provision for) benefit from income taxes	(3,753)	(3,596)	(5,599)	(3,602)	(7,809)	(5,189)	(4,655)	(9,334)	(6,530)	(2,171)	(1,681)	(4,360)	(1,096)	(2,588)	(2,023)	(33,006)	(1,438)	5,661)	(3,102)
Net income (loss)	476,748)	328,572)	217,717)	76,936)	149,341)	135,570)	106,071)	96,913)	73,439)	27,872)	19,151)	33,489)	(123,875)	(179,329)	(101,379)	(156,188)	(102,137)	(138,580)	(123,474)
Net (income) loss attributable to noncontrolling interests	(1,149)	(1,845)	(3,686)	2,073)	(5,816)	(1,444)	(541)	(3,522)	(1,934)	255)	(2,349)	(2,611)	—)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to common stockholders	475,599)	326,727)	214,031)	79,009)	143,525)	134,126)	105,530)	93,391)	71,505)	28,127)	16,802)	30,878)	(123,875)	(179,329)	(101,379)	(156,188)	(102,137)	(138,580)	(123,474)

Revenue: Revenue shows a consistent upward trend throughout the observed quarters, increasing steadily from approximately $341 million in early 2021 to over $1.18 billion by the first quarter of 2025. This indicates sustained growth in the company's top line.
Cost of Revenue: The cost of revenue also rises over the same period, increasing from about $74 million to over $207 million. While costs fluctuate somewhat, the overall increase appears proportionate to revenue growth, maintaining a relatively stable gross margin.
Gross Profit: Gross profit grows steadily from approximately $267 million in early 2021 to nearly $974 million by early 2025. This reflects the company's ability to scale its operations while maintaining profitability at the gross level.
Operating Expenses: Operating expenses, encompassing sales and marketing, research and development, and general and administrative expenses, exhibit a varied pattern:
Sales and Marketing: Sales and marketing expenditures generally increase over time, rising from about $136 million to highs near $288 million in late 2024, before fluctuating somewhat through early 2025. This suggests a focus on growth and customer acquisition, although some volatility is present.
Research and Development: R&D expenses fluctuate but maintain an upward trend overall, starting near $98 million and rising to over $171 million at a peak in late 2024 before moderate declines. This indicates ongoing investment in innovation and product development.
General and Administrative: General and administrative costs remain relatively stable with moderate growth, increasing from approximately $146 million to around $182 million at their highest point in late 2024, before slightly decreasing again. This reflects consistent overhead management.
Income (Loss) from Operations: Operating income transitions from negative values in early 2021, indicating operating losses, to positive figures beginning in late 2022. The amount grows significantly, reaching over $393 million by early 2025, demonstrating improved operational efficiency and profitability.
Interest Income and Expense: Interest income shows a strong increasing trend, rising from a few hundred thousand to nearly $60 million by early 2025, which positively impacts net income. In contrast, interest expense is relatively minor and decreases over time, suggesting lower borrowing costs or reduced debt levels.
Other Income (Expense), Net: This category shows volatility, with large swings from negative to positive values across periods. Despite this variability, the net effect appears less significant compared to core operational results, and it introduces some unpredictability in overall profitability.
Income Before Taxes: Income before taxes mirrors the operational improvement, moving from consistent losses toward substantial positive earnings starting in late 2022, culminating in close to $481 million by early 2025. This confirms an overall shift to profitability.
Provision for Income Taxes: Income tax expenses fluctuate but remain relatively moderate compared to pre-tax income, indicating effective tax management or benefits, potentially linked to the company's evolving profitability status.
Net Income: Net income follows the trajectory of operating and pre-tax income. Initially, the company reports substantial losses, particularly in 2021 and early 2022. From late 2022 onwards, net income turns positive and increases significantly, reaching nearly $477 million by early 2025. This reflects strong earnings growth and improved financial health.
Net Income Attributable to Common Stockholders: The net income attributable to common stockholders closely tracks total net income trends, transitioning from losses to sustained profits over the period. This indicates enhanced value generation for shareholders moving into the later quarters.

Download chart

Palantir Technologies Inc. (NASDAQ:PLTR)

Income Statement Quarterly Data

Income Statement
Quarterly Data