Palantir to See Continued Revenue Surge Driven by Artificial Intelligence Platform

Palantir Technologies (NYSE: PLTR) is projected to see a continued revenue surge driven by the acceleration in its commercial business. In 2023, the application software company experienced a robust +20% year-over-year growth in its commercial segment revenue. Palantir’s Artificial Intelligence Platform (AIP) has been key to the business growth, especially in the commercial segment, which is anticipated to remain a key driver throughout 2024 and into 2025. According to Visible Alpha consensus, revenue from the company’s commercial business is expected to accelerate further in 2024, rising +27% year over year, reaching an estimated $1.3 billion. Between 2024 – 2026, commercial revenue is estimated to grow at a CAGR of 21%.

While Palantir, which is well known for its defense and intelligence work with the U.S. government, is projected to see strong double-digit growth in its government business in the forecast period, revenue growth in the segment is expected to moderate compared to prior years. Between 2024 – 2026, government revenue is estimated to grow at a CAGR of 19%. The overall revenue growth for the company is projected to increase from +17% year over year in 2023 to an estimated +20% in 2024, and around +21% by 2025.

Sector: Technology
Industry: Application Software
VA Ticker(s): PLTR_US