PLTR

1. Entity Frequency and Category Focus

Broad shift toward enterprise AI implementation partnerships and market access via security accreditations, with emphasis on U.S. commercial scale-up, U.K. public/private sector, and Australia public sector.

Increase in Organizations

PwC UK

• Multi-year, preferred partner deal in the U.K. to accelerate enterprise AI; alignment with the NHS Federated Data Platform (FDP) ecosystem.Shift observed: Expansion of system integrator go-to-market in the U.K., signaling scaled commercial deployments.

FTAI Aviation Ltd. (FTAI)

• Strategic partnership to transform aircraft engine Maintenance, Repair & Exchange (MRE) with AIP.Shift observed: Deepening penetration into aerospace after manufacturing successes; move from pilots to operational AI in asset-heavy sectors.

Australian Signals Directorate (ASD) / IRAP

• IRAP PROTECTED assessment enables hosting in Australian AWS regions via Palantir Platform Australia (PPA).Shift observed: Regulatory clearance opening Australian public sector and critical infrastructure opportunities.

Increase in Products and Technologies

AIP (Artificial Intelligence Platform)

• Central to nearly all partnerships (PwC, FTAI, Valoriza, NHS FDP programs); expanded with capabilities like AI Hivemind, AIP native development agent, and Edge Ontology.Shift observed: Transition from platform pitching to production AI with agentic workflows and domain ontologies.

Foundry

• Continues as data backbone; reinforced through integrations (e.g., Snowflake Iceberg bidirectional, zero-copy interoperability).Shift observed: Foundry remains foundational; interoperability increases TAM and stickiness in existing data estates.

Increase in Locations

United Kingdom

• Multiple U.K.-centric developments: PwC UK partnership; NHS FDP apprenticeship programs (via Multiverse); defense simulations (Hadean) for the MoD.Shift observed: Consolidating U.K. leadership across health, defense, and enterprise services.

Australia

• IRAP PROTECTED status; hosting in Australian AWS regions.Shift observed: New public sector revenue channel enabled by compliance.

Increase in Financial Terms

Q3 2025 Metrics

• Revenue: $1.181B (+63% YoY); U.S. revenue $883M; Adjusted op margin 51%; TCV: $2.76–$2.8B (record); Customer count 911.Shift observed: Material acceleration in U.S. commercial (121% YoY) with record bookings and elevated profitability.

2. New vs. Receding Entities

New Entities

IRAP (Information Security Registered Assessors Program) PROTECTED

• Enables PPA in Australian AWS regions for sovereign workloads.Shift observed: Compliance-led market entry; lowers sales friction in Australia’s public sector.

PwC UK

• Preferred partner for multi-year, multi-million-£ AI programs; ties to NHS ecosystem.Shift observed: Scaled services channel to multiply enterprise implementations.

FTAI Aviation

• Multi-year partnership focused on engine MRE optimization with AIP.Shift observed: Expansion of AI into aftermarket aviation, inventory, and scheduling.

Multiverse

• Apprenticeship programs for NHS FDP; large-scale workforce enablement starting Feb 2026.Shift observed: Human capital strategy complements platform adoption; reduces customer execution risk.

Valoriza

• Spain-based environmental services transformation using Foundry and AIP; IoT waste containers, fleet data.Shift observed: Civic infrastructure vertical entry; smart cities momentum in EMEA.

Palantir Platform Australia (PPA)

• Region-specific platform instance leveraging Australian AWS regions.Shift observed: Regionalized cloud approach for data sovereignty.

Receding Entities

Anduril

• Prominent in late 2024 (Warp Speed cohort; national security AI), fewer direct mentions in latest Nov 2025 press releases.Shift observed: No new November announcements; remains in legacy manufacturing/security narratives.

U.S. Army Vantage

• Significant historical contract references; not a focus of November 2025 news flow (still cited in earnings).Shift observed: Execution continues; new public announcements are concentrated on commercial and international.

3. Financial and Quantitative Shifts

Increased/Reduced Growth and Bookings

Revenue and Profitability (Q3 2025)

• Total revenue: $1.181B (+63% YoY, +18% QoQ); U.S. revenue: $883M (+77% YoY, +20% QoQ); Adjusted operating margin: 51% (record); Adjusted FCF: $540M (46% margin).Shift observed: Sustained operating leverage and strong cash generation improve investment quality.

Commercial Momentum (U.S.)

• U.S. commercial revenue: $397M (Q3); growth 121% YoY; U.S. commercial TCV: $1.31B (record, +342% YoY).Shift observed: Product-market fit for AIP at scale; diversified sector adoption.

Bookings and Pipeline

• TCV: $2.76–$2.8B (record); Deals ≥ $1M: 204; ≥ $5M: 91; ≥ $10M: 53; Remaining deal value (RDV) U.S. commercial: $3.63B; Total RDV: $8.6B; RPO: $2.6B.Shift observed: Visibility improving with larger, longer-duration commitments.

Guidance (Raised)

• Q4 revenue: $1.327–$1.331B; FY 2025 revenue: $4.396–$4.400B; FY 2025 adjusted op income: $2.151–$2.155B; FY 2025 adjusted FCF: $1.9–$2.1B; FY 2025 U.S. commercial revenue: > $1.433B.Shift observed: Confident near-term trajectory; underscores durability of commercial growth.

Capital Returns and Liquidity

• Share repurchase remaining authorization: $880M; Cash and equivalents: $6.4B.Shift observed: Balance sheet strength supports optionality (R&D, M&A, buybacks).

Sector/Program Quantities

NHS FDP Apprenticeships (U.K.)

• 77 Trusts delivering benefits; 73 Trusts and 41 ICBs signed; forecast annual benefits £150M by end of decade; 80,000 additional operations; 15% reduction in discharge delays.Shift observed: Tangible outcomes bolster healthcare referenceability; pipeline for services and software consumption.

Ambiguous/Unspecified Figures to Flag

• “Multi-year, multi-million-pound” PwC UK deal (exact £ value not disclosed).
• 25% industry market share target (FTAI MRE) lacks baseline and timeframe.

4. Product/Technology Development

AIP, Foundry, and Agentic Capabilities

• AIP now features AI Hivemind orchestration, AIP native development agent, and Edge Ontology for mobile/embedded; used across aviation MRE, environmental services, healthcare datasets, and public sector missions.Shift observed: Movement from analytics to autonomous and semi-autonomous enterprise workflows; differentiates via ontology-centric approach.

Foundry + Snowflake Interoperability

• Foundry integrates with Snowflake (Iceberg) for bidirectional, zero-copy data; supports AI agents and digital twins on the shop floor.Shift observed: Low-friction adoption in existing data estates; reduces migration complexity and accelerates time-to-value.

Compliance and Sovereign Cloud Readiness

• Achieved CMMC Level 2; prior FedRAMP High; now IRAP PROTECTED in Australia; region-specific PPA hosting in Australian AWS regions.Shift observed: Security-first posture broadens eligibility for sensitive workloads globally, lowering sales cycles in regulated markets.

Verticalized Operating Systems

• Warp Speed (manufacturing OS) extends to shipbuilding (“Warp Speed for Warships”); Nuclear Operating System (NOS) on Foundry targets U.S. nuclear build-out; sector stacks in telecom (with Lumen) and automotive (with Lear).Shift observed: Template-ization of industry solutions improves repeatability and margins.

5. Relational Changes Between Entities

Strategic Partnerships and Preferred Alliances

Palantir Technologies Inc. (PLTR) ↔ PwC UK

• Multi-year, multi-million-£ preferred partnership to scale AI in the U.K., aligned with NHS FDP ecosystem.Shift observed: Adds a major services channel to accelerate enterprise deployments and reduce implementation friction.

Palantir ↔ FTAI Aviation

• Multi-year agreement to transform engine MRE using AIP; aims for scheduling, inventory, and procurement optimization.Shift observed: Expansion into aerospace aftermarket with measurable operational KPIs.

Palantir ↔ Multiverse ↔ NHS

• Launching NHS FDP apprenticeship programs (start Feb 2026) to upskill data/AI workforce across Trusts and ICBs.Shift observed: Skills pipeline to sustain platform utilization and outcomes in U.K. healthcare.

Palantir ↔ Valoriza (Spain)

• AI-driven environmental services using Foundry and AIP with IoT integrations.Shift observed: Entry into municipal services and smart-city operations in EMEA.

Palantir ↔ Snowflake

• Strategic partnership for enterprise-ready AI and analytics; zero-copy Foundry–Snowflake interoperability; agentic AI on shared data.Shift observed: Expands addressable market by meeting customers in their existing data clouds.

Palantir ↔ OneMedNet

• Multi-year agreement to integrate AIP with iRWD™ network for healthcare AI and analytics.Shift observed: Strengthens life sciences/healthcare data monetization and analytics footprint.

Compliance and Market Access

• IRAP PROTECTED via ASD enables PPA hosting in Australian AWS regions.Shift observed: Unlocks Australian public sector; complements U.S. FedRAMP High and CMMC L2.

Additional Ongoing Ecosystem Partnerships (earlier in period; fewer new November updates)

• Defense and manufacturing: BlueForge Alliance (Warp Speed for Warships), Hadean (MoD U.K.), Lear expansion, Lumen (telecom), Accenture Federal Services (U.S. federal AI), The Nuclear Company (NOS), Fedrigoni (EMEA manufacturing), The Joint Commission (patient safety), TWG Global JV (financial services), Dubai Holding JV (Aither), Societe Generale (AFC), SAUR (contracts).Shift observed: Broad, multi-vertical partner network established earlier in the year; current focus shifts to scaling U.K./Australia and deepening U.S. commercial.

No relationship in this category were identified for this company based on the provided documents.