Palantir Technologies, which sells data-analytics software, as soon as today may file a Form S-1 with the Securities and Exchange Commission to register for an initial public offering, a media report says.
A source told Business Insider that the company’s analyst day is tentatively slated for Sept. 15, with the public listing tentatively set for Sept. 24.
Meanwhile, screenshots of a draft S-1 statement dated Aug. 20 show Palantir reported revenue of $742 million for last year, up 25% from $595 million in 2018, TechCrunch reports.
Palantir posted a net loss of $580 million for 2019, little changed from 2018.
Earlier this month, executives at Akita Michinoku Capital, a Japanese wealth manager, said Palantir intended to go public via a direct listing by late next month.
"At this stage, Palantir is aiming for a direct listing by late September; however, the company may still change its plans," Oliver Wright, director of corporate equities at Akita Michinoku, said in a statement.
"Palantir is aiming to raise $961 million. It has already managed to secure $550 million which includes a $500 million investment from Sompo Japan Nipponkoa Holdings and $50 million from Fujitsu."
PayPal (PYPL) - Get PayPal Holdings, Inc. Report Co-Founder Peter Thiel is a co-founder of and investor in Palantir through the Founders Fund he started. Other investors include Morgan Stanley (MS) - Get Morgan Stanley Report, BlackRock (BLK) - Get BlackRock, Inc. Report and Tiger Global Management.
"Palantir is used by law enforcement and government agencies to collect and scan for data on citizens to combat crime, hunt for terrorists and, more recently, monitor the spread of covid-19,” said Martin Thornton, head of corporate trading at Akita Michinoku.