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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Selected Financial Data since 2020
- Net Profit Margin since 2020
- Total Asset Turnover since 2020
- Price to Sales (P/S) since 2020
- Analysis of Revenues
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Palantir Technologies Inc., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 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 shows significant volatility across the periods. Initially, the company experienced consistent net losses through 2021 and into early 2022. Notably, the magnitude of losses peaked in Q2 2022 at approximately -$179 million. Beginning Q4 2022, the company shifted to profitability with steadily increasing net income, reaching over $328 million by Q2 2025, indicating a clear upward profitability trend in recent quarters.
- Depreciation and Amortization
- Depreciation and amortization expenses gradually increased from Q1 2021, peaking around Q3 2023, before showing a marginal declining trend toward mid-2025. This pattern suggests growing capital investments followed by a stabilization or slight reduction in amortizable assets.
- Stock-Based Compensation
- This expense item fluctuated throughout the periods but remained generally high, starting above $190 million in early 2021, declining somewhat through late 2022, then rising sharply again in Q4 2024. The sharp spike in stock-based compensation at the end of 2024 suggests significant issuance or valuation changes of equity awards.
- Operating Lease Expense and Liabilities
- Noncash operating lease expenses showed a steady increase from 2021 through 2023 before a slight reduction in late 2024. Correspondingly, operating lease liabilities presented fluctuations but generally decreased over the latter periods, indicating possible lease terminations or paydowns.
- Unrealized and Realized Gains/Losses on Marketable Securities
- The gains and losses on marketable securities were highly volatile, with large gains in 2022 Q1 and notable fluctuations afterward. The variability suggests active portfolio management or significant market exposure affecting earnings through investable assets.
- Changes in Working Capital (Operating Assets and Liabilities)
- Accounts receivable and prepaid expenses exhibited wide swings, reflecting inconsistent collections or advance payments. Accounts payable and accrued liabilities also fluctuated, with no clear trend, indicating varying payment cycles or operational changes. Deferred revenue and customer deposits were particularly volatile, suggesting fluctuations in prepaid customer balances and contract timing.
- Operating Cash Flow
- Net cash provided by operating activities displayed an overall increasing trend, with some intermittent declines. From relatively modest figures in early periods, cash generated from operations surged significantly from 2023 onward, peaking at over $539 million in early 2025, aligning with improved net income performance.
- Investing Activities
- The company experienced heavy investing outflows in marketable securities purchases, particularly in 2023, combined with large proceeds from sales in certain quarters, indicating active marketable asset portfolio management. Purchases of property and equipment remained substantial, reflecting ongoing capital investment. The net cash from investing activities fluctuated between significant outflows and inflows, indicating strategic timing of asset acquisitions and disposals.
- Financing Activities
- Financing cash flows showed variability, with proceeds from exercising stock options contributing prominently. Repurchases of common stock commenced in late 2023, consistently reducing available cash flow. A large principal payment on borrowings occurred early in the data set. Taxes related to share settlements were significant in later periods, affecting net financing cash flows. Overall, financing activities alternated between providing and using cash, with recent trends favoring share repurchase and equity-related inflows.
- Cash and Cash Equivalents
- The net changes in cash balances exhibited considerable volatility, with major decreases in early 2023 followed by large increases in late 2024, matching the activity in operating, investing, and financing cash flows. The fluctuations reflect strong operational cash generation offset by substantial investing and financing cash outflows.
- Summary
- The data reflect a company transitioning from sustained net losses in early periods toward consistent profitability by late 2022. Cash flow from operations improved markedly, supporting strategic investing and financing activities. The financing inflows from stock option exercises and occasional share repurchases indicate active capital structure management. Volatility in working capital and investable securities gains points to dynamic operational and investment environments. Overall, the financial trends depict strengthening profitability and operational cash flow generation balanced against ongoing capital expenditures and financial maneuvers.