![]() ![]() In the last few months, the Division of Homeland Security increased its Palantir contract for 2023 by 26%, but Palantir’s IRS contract will be down 30% and the US Department of Health and Human Services is down 30%, Radke estimates. Some of the declines come from software contracts to manage COVID vaccine databases that are no longer needed, Radke said. “It appears that these wins are not sufficient to offset potential churn” - as revenue from other, expiring government contracts dries up, the analyst added. That disappointed some investors, who had expected a boost from “a flurry of US Army contracts,” William Blair analyst Kamil Mielczarek said in a note to investors. On Monday, Palantir told investors it expects fourth-quarter revenue of $504 million - slightly short of its previous outlook for $507 million. ![]() “There are probably some headwinds from a newer administration.” Peter Thiel is the ninth-biggest mega-donor this election cycle, making $30 million in large donations. “There is no question they had more friends and allies in the prior administration,” Citigroup analyst Tyler Radke told The Post. While Karp was more upbeat on the longer-term outlook, some analysts say Palantir may be having trouble in the meantime partly because Thiel - who famously organized an awkward summit in 2016 between President Donald Trump and tech bigwigs like Jeff Bezos, Elon Musk, Larry Page and Tim Cook - has lately faced less-friendly faces in Washington, sources said. “We tend to have kind of lumpy growth and flatness, which no one likes,” Karp said on a Monday conference call. Asked by a Wall Street analyst about the company’s outlook on government contracts in the coming months, CEO Alex Karp sounded less than inspirational. On Monday, Palantir shares tumbled 11% to $7.02 after the company posted a loss of 6 cents a share, with adjusted earnings missing Wall Street’s expectations. The Silicon Valley billionaire - who has bankrolled the US Senate campaigns of Ohio Republican JD Vance and Arizona’s Blake Masters - is also chairman of Palantir, a secretive software firm that has won fewer and smaller contracts with the US government since Joe Biden became president. Peter Thiel may have more than just ideological reasons for backing Republicans in the midterm elections. Peter Thiel confronted Mark Zuckerberg about metaverse focus before abrupt board resignation: report Peter Thiel says DeSantis would be ‘terrific president,’ warns of ‘woke’ focus OpenAI boss - who warned AI poses ‘risk of extinction’ to humanity - is also a ‘doomsday prepper’īillionaire Peter Thiel plans to be frozen after death for future revival, but doesn’t ‘necessarily expect it to work’ ![]()
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