Palantir Technologies has experienced remarkable stock performance, with a 456.86% increase over the past year. Despite a high forward P/E ratio of 238.10, growth is fueled by federal contracts and significant revenue increases in commercial sectors. The company's Q1 results showcased a 39% year-over-year revenue growth, with the U.S. commercial business hitting a $1 billion run rate. Palantir's diverse clientele in various industries indicates resilience against over-reliance on government contracts, bolstering growth expectations for the future.
Palantir's government line of business accounts for more than half of its revenue, with existing contracts between the AI firm and the U.S. Department of Defense, ICE, among others.
U.S. commercial business surpassed a $1 billion run rate, good for 71% year-over-year growth, indicating Palantir's capability of scaling sustainably without reliance on federal contracts.
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