Palantir, Geo Group, and CoreCivic reported increased earnings attributed to heightened immigration enforcement. Palantir's revenue from U.S. government contracts grew by 53% in the second quarter of 2025, surpassing $1 billion for the first time. Analysts expected lower revenue figures. Private prison executives expressed enthusiasm about potential growth in immigration detention. Palantir's major revenue source is government contracts, with the Department of Defense being its largest customer. The relationship with the Department of Homeland Security has strengthened, especially with recent contracts aimed at improving deportation efficiency.
Palantir saw 53% growth in revenue from US government contracts in the second quarter of 2025 compared with the same period the year prior and surpassed $1bn in total quarterly revenue for the first time.
Private prison company executives, during their respective calls, could barely contain their excitement, flagging to investors opportunities for unprecedented growth in the realm of immigration detention.
Palantir, the tech firm, and Geo Group and CoreCivic, the private prison and surveillance companies, said this week that they brought in more money than Wall Street expected them to, thanks to the administration's crackdown on immigrants.
The company, which connects and analyzes disparate sets of data to enable its customers to build products with that information, brings in the majority of its revenue from government contracts.
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