Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Palantir Technologies Inc., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Net Income (Loss)
- The net income exhibits significant volatility over the periods. Initially, the company reported losses in most quarters through 2022, with a notable loss peak in the second quarter of 2022. Starting from the fourth quarter of 2022, net income turned positive and has generally trended upward, reaching a peak in the third quarter of 2025. This implies an improving profitability profile in recent periods.
- Depreciation and Amortization
- Depreciation and amortization expenses have remained relatively stable, with slight fluctuations. The costs peaked moderately in late 2021 and early 2022, then gradually declined by 2025, indicating controlled capital asset usage or aging of assets.
- Stock-Based Compensation
- Stock-based compensation expense has been consistently high throughout the analyzed periods, although showing a declining trend from mid-2021 to late 2022. There is a sharp increase in the fourth quarter of 2024, followed by fluctuations but remaining elevated through 2025, suggesting that stock incentives are a significant component of compensation and potentially fluctuating with company performance or strategic decisions.
- Noncash Operating Lease Expense
- This expense category increased steadily from early 2021 through 2023. However, data for the last two quarters of 2024 and later are missing, which precludes a complete trend analysis beyond 2023.
- Unrealized and Realized Gains (Loss) from Marketable Securities
- Volatility characterizes gains and losses in marketable securities, with substantial gains reported between late 2021 and early 2023, followed by considerable fluctuations including negative values in several quarters of 2024. This indicates exposure to market risk and significant valuation changes in investment holdings.
- Noncash Consideration
- Noncash consideration has predominantly consisted of negative values, especially from mid-2022 onward, indicating deductions related to acquisitions or similar transactions. The magnitude varies without clear directional trends.
- Operating Activities - Accounts Receivable and Other Assets/Liabilities
- Accounts receivable shows dramatic swings, with several quarters registering large negative values followed by significant positive reversals, reflecting variability in collections or sales recognition. Prepaid expenses and other current assets also oscillate between positive and negative values, suggesting active balance sheet management or seasonality. Accounts payable and accrued liabilities present irregular fluctuations, including both substantial increases and decreases across quarters, indicating changing obligations and operating cycles. Deferred revenue and customer deposits also fluctuate substantially, with some quarters showing large inflows or outflows, implying variable customer prepayments and contract renewals.
- Net Cash Provided by Operating Activities
- Cash flows from operating activities are positive in nearly all quarters, exhibiting growth especially from mid-2023 onward. There is a marked increase in the magnitude of cash generation beginning in late 2022, suggesting strengthened operational efficiency or revenue collection.
- Investing Activities
- Use of cash in investing activities is generally significant and negative, mainly due to large purchases of marketable securities and property and equipment. However, some quarters show positive cash flows due to proceeds from sales of marketable securities or other investing activities. The net investing cash flow varies considerably, reflecting active portfolio management including large-scale acquisitions and disposals.
- Financing Activities
- Financing cash flows exhibit mixed patterns. Early periods include substantial proceeds from the exercise of common stock options, declining thereafter but with occasional surges, perhaps related to equity financing events. Stock repurchases began in 2023, consistently reducing cash. Principal payments on borrowings occurred passively in 2021. Taxes related to equity award settlements represent a considerable cash outflow starting in late 2024.
- Net Increase (Decrease) in Cash
- Cash and equivalents show periods of both growth and decline. Notably, there is a considerable decrease beginning in the first quarter of 2023, likely reflecting investment outflows. Subsequently, substantial increases occur later in 2024 and early 2025, aligning with improved net income and operating cash flow performance.
- Foreign Exchange Effects
- Foreign exchange impacts on cash balances fluctuate irregularly but generally remain a relatively small component compared to operational and investing activities, except for some volatility in certain quarters.