PalantirPLTR

Business Snapshot

• Palantir Technologies Inc. Class A Common Stock (NASDAQ: PLTR) is a U.S.-listed common stock. The provided payload does not include a sector or industry classification.
• Current price is $182.53 in pre-market trading. The supplied session range is unusually wide at $106.37–$198.88; the payload does not clarify whether this reflects an extended trading range, a data anomaly, or a broader session.
• The latest reported quarter is June 30, 2026. Revenue was $1.94 billion, operating income was $912.0 million, net income was $1.06 billion, and diluted EPS was $0.41.
• The company has a strong reported liquidity position, with $11.10 billion of current assets against $1.54 billion of current liabilities. Debt/equity is not provided.

Financial Trends

• Revenue is accelerating sequentially. Revenue increased from $1.18 billion in September 2025 to $4.48 billion in December 2025, then declined to $1.63 billion in March 2026 before rising to $1.94 billion in June 2026. The latest quarter was up $302.9 million, or 18.5%, versus March 2026. Because the December figure is presented as a 10-K period while the other figures are 10-Q periods, direct quarter-to-quarter comparisons should be treated cautiously.
• Gross margin improved over the four-period span but pulled back sequentially. Gross margin was 82.45% in September 2025, 82.37% in December, 86.78% in March, and 84.66% in June. Thus, the latest margin is 2.21 percentage points above September, but 2.12 points below March, indicating a recent moderation after a strong margin expansion.
• Operating margin remains substantially stronger than earlier periods. Operating margin rose from 33.30% in September to 31.59% in December, 46.18% in March, and 47.12% in June. The latest figure improved 0.94 percentage points sequentially and is 13.82 points above September.
• Net margin also expanded materially. Net margin moved from 40.27% in September to 36.31% in December, 53.32% in March, and 54.86% in June. The latest margin increased 1.54 points versus March and is 14.59 points above September.
• Profitability accelerated in the latest reported quarter. Operating income rose from $754.0 million to $912.0 million, up $158.0 million, or 21.0%, sequentially. Net income increased from $870.5 million to $1.06 billion, up $191.4 million, or 22.0%. Diluted EPS advanced from $0.34 to $0.41.
• Free cash flow strengthened sharply sequentially. FCF was $1.34 billion in September 2025, $2.10 billion in December, $891.8 million in March, and $2.09 billion in June. Latest FCF increased $1.20 billion, or 134.7%, versus March, and is $756.8 million, or 56.7%, above September. The pattern is strong but volatile across the reported periods.
• Cash from operations followed the same volatile but strong pattern. It was $1.36 billion, $2.13 billion, $899.2 million, and $2.12 billion, respectively. The latest quarter rose $1.22 billion, or 135.3%, versus March.
• Investing cash outflows remain substantial and became more negative in the latest quarter. Cash from investing was -$1.83 billion in September, -$2.78 billion in December, -$26.7 million in March, and -$1.51 billion in June. Capital expenditures remain comparatively low, increasing from $20.6 million in September to $22.0 million in June, a rise of only $1.35 million.
• The balance sheet expanded consistently. Total assets increased from $8.11 billion in September 2025 to $11.68 billion in June 2026, up $3.56 billion, or 43.9%. Assets also rose $1.48 billion, or 14.5%, versus March.
• Equity growth outpaced liabilities over the four periods. Shareholders’ equity rose from $6.59 billion to $9.77 billion, up $3.18 billion, or 48.3%. Total liabilities increased from $1.43 billion to $1.79 billion, up $368.0 million, or 25.8%. Liabilities did rise $150.8 million, or 9.2%, sequentially, so the latest balance-sheet expansion was not entirely liability-free.
• Liquidity remains very strong. The current ratio improved from 6.43 in September to 7.23 in June, despite a modest decline from 7.11 in December to 6.91 in March before recovering. Working capital expanded from $6.41 billion to $9.56 billion, an increase of $3.16 billion, or 49.3%.
• Cash and equivalents are below the December peak. Cash was $1.62 billion in September, $1.42 billion in December, $2.29 billion in March, and $2.03 billion in June. The latest balance is $261.6 million below March, but $414.1 million above September.
• Shares outstanding increased modestly. Reported shares outstanding rose from 2.383 billion to 2.403 billion, an increase of 19.6 million, or 0.8%, over the four periods. Diluted weighted-average shares were 2.569 billion in the latest period versus 2.571 billion in September, broadly stable.

Financial Health

• The latest period shows a company with high profitability, strong operating cash generation, and substantial short-term liquidity. The 7.23 current ratio, 47.12% operating margin, and 54.86% net margin provide considerable financial cushion based on the supplied figures.
• The latest sequential improvement is broad: revenue rose 18.5%, operating income rose 21.0%, net income rose 22.0%, and FCF rose 134.7%. This supports a constructive fundamental trend, although the unusually large FCF change reflects a weak March comparison.
• Gross margin declined sequentially by 2.12 percentage points, which is the main profitability-mix caution in the latest quarter. Operating and net margins nevertheless improved, indicating that operating-expense leverage more than offset the gross-margin pullback.
• Cash declined 11.4% sequentially, while investing cash outflow reached $1.51 billion. The company still reports ample current assets and working capital, but the cash trend should be monitored if large investing outflows persist.
• Retained earnings improved materially, from -$4.17 billion in September to -$1.63 billion in June, a favorable change of $2.54 billion. They remain negative, however.
• No debt/equity figure is provided, so leverage cannot be fully assessed. Based on the supplied balance-sheet totals, liabilities remain much smaller than assets and equity, but the absence of debt detail limits precision.
• The key fundamental risk is not evident balance-sheet stress; it is whether the strong revenue and margin trajectory can continue while cash generation and investing flows remain volatile. Valuation cannot be assessed because market capitalization, enterprise value, multiples, and analyst estimates are not provided.

Insider Activity

• Insider sentiment for June 6 through September 4, 2026 is Neutral (-10), with $0 of reported purchases across three transactions and $124.14 million of reported sales across 47 transactions.
• The listed transactions are overwhelmingly sales. Notable reported sales include:
  • Alexander C. Karp sales totaling multiple large blocks on August 20, including transactions priced around $172.65–$176.31.
  • Alexander D. Moore sales totaling approximately $2.79 million on August 17.
  • Shyam Sankar sales totaling approximately $5.45 million on August 6, at prices around $153.40–$157.44.
  • Additional sales by Lauren Elaina Friedman and Jeffrey Buckley through September 1.
• Karp’s filing also shows reported purchases, including 90,000 shares and 402,348 shares, but the filing contains offsetting transactions and several zero-dollar entries. The payload does not establish the economic purpose of those entries; they should not be interpreted as straightforward open-market buying.
• Overall, the aggregate data shows heavy insider selling and no reported dollar-value purchases, which is a near-term sentiment headwind. Insider selling can reflect compensation, scheduled programs, or other non-fundamental reasons, so it is not conclusive evidence of deteriorating business fundamentals.

Multi-Timeframe Technical Context

• Only daily technical data is provided; minute and intraday indicators are unavailable. Therefore, the ultra-short and short-horizon assessment is limited to the daily chart and current pre-market context.
• Ultra-short horizon — minutes: Price is $182.53, above the 12-day EMA of $177.45, 26-day EMA of $168.48, 50-day EMA of $157.62, and 20-day SMA of $176.80. This establishes a positive trend backdrop, but pre-market liquidity and the supplied wide session range make immediate price discovery potentially unstable.
• The price is below the Bollinger upper band at $187.27 and above the middle band at $176.80. A move toward or through $187.27 would test near-term extension; failure to hold the middle band would weaken momentum.
• Short horizon — hours to days: RSI-14 is 56.61 and RSI-21 is 61.68, indicating positive but not extreme momentum. MACD is 8.97, below its 10.31 signal line, a modest bearish crossover or loss-of-momentum indication despite price remaining above key moving averages.
• Daily ATR is $7.89, implying materially elevated expected daily movement relative to the current price. Position sizing and stop placement should account for that volatility.
• Current volume is approximately 38.1 million, above the 20-day average of 35.6 million by about 6.9%. The above-average volume modestly supports the current move, though no intraday volume breakdown is available.
• Long horizon — weeks to months: The moving-average structure is constructive: the 50-day SMA at $148.55 and 200-day SMA at $151.36 are well below price. However, the MACD signal relationship and proximity to the upper Bollinger band suggest the trend may be entering a consolidation or pullback phase rather than offering a clean momentum continuation signal.

Bull / Bear Cases

• Short-term bull case: Price holds above the $176.80 daily middle band and $177.45 12-day EMA, while volume remains above average. A break and sustained move above $187.27 could signal renewed upside momentum, with the supplied session high of $198.88 as the next visible reference.
• Short-term bear case: MACD remains below its signal line, price fails near $187.27, and a close below $176.80–$177.45 triggers a deeper pullback. The $168.48 26-day EMA and $166.34 lower Bollinger band are the next technical downside references.
• Long-term bull case: The fundamental trajectory is favorable: latest revenue is up 18.5% sequentially, operating margin is 47.12%, net margin is 54.86%, and latest FCF is 56.7% above September. Assets, equity, working capital, and retained earnings have all improved over the four reported periods. Sustained growth with stable margins would support the long-term thesis.
• Long-term bear case: The reported periods show substantial volatility in revenue presentation, cash generation, and investing cash flow. Gross margin has declined from 86.78% to 84.66% sequentially, cash has fallen 11.4%, shares outstanding have risen 0.8%, and insider activity is heavily tilted toward sales. Without valuation data, it is impossible to determine whether the current price adequately discounts the strong fundamentals.
• Risk asymmetry: Fundamentally, the balance sheet appears robust; technically, momentum is positive but not accelerating. The principal near-term risks are an overextended price relative to volatility, MACD weakness, and persistent insider selling. The principal long-term risk is a failure to sustain the latest growth and cash-flow strength.

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