Palantir, a manufacturer of software and analytics tools for the defense industry and large companies, reported a 49% revenue increase in the first quarter, beating Wall Street forecasts.
Palantir, a manufacturer of software and analytics tools for the defense industry and large corporations , reported a 49% revenue increase in the first quarter, beating Wall Street forecasts. The company also talked about plans to add Bitcoin (BTC) to their balance sheets.
Co-founded by Peter Thiel, Joe Lonsdale, CEO Alex Karp and others in 2003, Palantir built its business largely on lucrative government deals for data analytics software. The company said government revenue reached $ 208 million. It also strengthened its commercial segment during the quarter with strong growth in the United States. Total commercial revenue reached $ 133 million.
Cryptocurrencies on the Table
Palantir added that the company is considering adding Bitcoin to its balance sheet, saying that cryptocurrencies are “definitely on the table” in its statement . The firm also accepts Bitcoin as a form of payment.
The company went public via direct listing on the New York Stock Exchange last September, with an opening transaction of $ 10 per share. The initial price gave Palantir a market value of $ 16.5 billion, and the company has appreciated ever since. The firm was worth $ 30.44 billion as of closing on Monday.