Palantir’s stock has delivered a cumulative increase of 1,770% since its 2020 IPO, meaning an investment of $60,000 at launch would today be worth over $1 million. In the past 12 months alone, the company’s shares have surged by roughly 160%, compared with a 17% gain for the S&P 500 over the same period. By replicating Microsoft’s early growth trajectory — which created more than 10,000 millionaires within 14 years of its own IPO — Palantir stands poised to generate a comparable or larger cohort of wealth-creating investors over the coming decade.

During the third quarter of fiscal 2025, Palantir reported 63% year-over-year revenue growth, with commercial revenue up 121% and U.S. government revenue up 52%. The company achieved a GAAP operating margin of 33%, while net earnings per share tripled from $0.06 to $0.18 compared to the prior year period. By the end of Q3, Palantir was completely debt-free and held $6.4 billion in cash, cash equivalents, and U.S. Treasury securities, underpinning its ability to fund R&D and pursue large enterprise and defense contracts without leverage.

Palantir closed 204 new contracts worth at least $1 million in Q3 2025, including 91 deals of $5 million or more and 53 deals exceeding $10 million. Total active customers reached 911, a 45% increase year over year. The company’s mix now includes high-value commercial clients alongside its traditional government and defense users, reflecting accelerating adoption of its AI Platform (AIP) beyond military and intelligence applications.

Palantir’s core offerings—Gotham for defense and intelligence, Foundry for enterprise data management, Apollo for software deployment, and its Artificial Intelligence Platform launched in April 2023—have been instrumental in driving adoption. Since the debut of its AI Platform, the company’s share price has climbed approximately 2,000%. Gotham integrates battlefield sensors, cameras, and satellite feeds into a unified command system, while AIP enables organizations to build custom large language models over combined public and private data, broadening Palantir’s addressable market significantly.