> These financials are awful for a software business. That's cuz they're not. They are a hybrid services business that also sells "cloud computing". The are ve

> These financials are awful for a software business. That's cuz they're not. They are a hybrid services business that also sells "cloud computing". The are very comparable to Cloudera - they have a proprietary analytics platform that they then customize specifically for the workload. They then charge an implementation fees, on-going "maintenance", and a subscription fee for the "software" (which is basically a highly customized single tenant). > Gross margin of 67% Which is still better than IBM or any professional services firm could ever achieve from the government. > If you add these pilot costs to COR, you'd get better numbers manufacturing furniture. If you added S&M costs to revenue attributed to a multi-year subscription fee, you'd be called an idiot. Hence why they are probably not in there (could be wrong...we don't know for sure). I do not like Palantir in the slightest, but this assessment is kinda off.