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CLAIM #49488 · Palantir Technologies Inc. (PLTR) · 2023Q3 earnings call · Nov 2, 2023 · due Dec 31, 2023

This growth is in part due to AIP's continued transformation of the way we partner with and deliver value for our customers, and we expect AIP's impact to continue to intensify.

Ryan Taylor · Chief Revenue Officer and Chief Legal Officer

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versus commitment · official band 5 percent
Committed
we expect AIP's impact to continue to intensify
Reported
This growth is in part due to AIP's continued transformation of the way we partner with and deliver value for our customers

In context

quarter, growing 33% year-over-year. Excluding strategic commercial contracts, it grew 52% year-over-year and 19% sequentially, and three-fourths of our quarter-over-quarter growth is from customers that started with us in 2023. Our U.S. commercial customer count rose 12% quarter-over-quarter and is now ten-fold what it was just three years ago. Deal count for our U.S. commercial business is 2.4x what it was in Q3 of last year and U.S. commercial TCV closed at $252 million, up 55% year-over-year on a dollar-weighted duration basis. We're also seeing the acceleration of larger deals and shorter times to conversion and expansion, including a multiyear deal in excess of $40 million with one of the largest home construction companies in the U.S. to start up pilot and converted all within Q3. This growth is in part due to AIP's continued transformation of the way we partner with and deliver value for our customers, and we expect AIP's impact to continue to intensify. The rapid expansion of AIP at both our existing and new customers, and the impact it is having on their operations is nothing short of remarkable. In the last quarter, we reoriented our go-to-market approach around AIP boot camps, which has allowed us to deliver real workflows on actual customer data in five days or less versus our traditional pilots, which generally take one to three months. We're seeing different stakeholders at the table, including tangible engagement from IT, a quicker time to value for customers, a wider range of organizations partnering with us and the ability to have multi-organization boot camps. Early indications point to vast improvements on our unit economics from initial contact to customer conversion, all while accelerating new customer negotiations. Boot cam

Verify independently

SEC filings for PLTR · Claim quote is verbatim from the 2023Q3 earnings call.