The company revealed in its Securities and Exchange Commission filing Tuesday that it would not raise any proceeds in the NYSE listing and that it selected 12 investment banks to serve as its financial advisers in the transaction. Those banks include Goldman Sachs Group, Royal Bank of Canada, Allen & Co. and Morgan Stanley, which will serve as the exclusive adviser to the designated market maker.
Palantir disclosed in its SEC filing obtained by MarketWatch that its revenue rose from $595.4M in 2018 to $742.6M last year and that it had $1.2B in contracts with government agencies and an additional $2.6B in indefinite-delivery/indefinite-quantity contracts.
“Our partnerships with government agencies in the United States and abroad have had and will continue to have a significant impact on our business,” the company said in the filing.
Palantir is a big data analytics company co-founded by CEO Alex Karp, Stephen Cohen and tech billionaire Peter Thiel in 2003 and one of its first investors is In-Q-Tel. The company’s software platform allows users to aggregate data into a central repository and has been used by U.S. agencies, including the departments of Defense and Homeland Security.