Palantir Technologies Inc. (NYSE:PLTR) Q4 2023 Earnings Call Transcript

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We love that. We want to prove — and we welcome and relish proving environments. If it was up to me, software would only be deployed at America and Western allies if it was proven on the battlefield. Unfortunately, for us, our adversaries are going to force that kind of adjudication. And how do we — and for those of you who can’t evaluate that because you don’t have access to our software in the battlefield, though you could read the news and see what Israel has done and what Ukraine has done, look what’s happening in US commercial. You have a completely rational environment where we’re deploying and growing the way we’re growing with almost no sales force. And it’s because it really matters. And when it really matters, the fact that they may not like my jokes or my habits, it will protect your life.

And that’s why we’re going to do well.

Ana Soro: Thank you, Alex. Our next question is from Dan with Wedbush. Dan, please turn on your camera and then you’ll receive a prompt to unmute your line.

Dan Ives: Thank you. So, I think, inconceivable the right word in terms of everything that you produced this quarter. My question would be, are you starting to actually see an acceleration in terms of AIP customer engagement, not even just from Q4, but even starting 2024?

Alex Karp: Do you want to handle that as the man on the front line?

Ryan Taylor: Yeah. I mean the answer is yes, absolutely. And I think we’re still very early, obviously, with AIP and the rollout and very early in the market. But as far as what we’re seeing from customers you see — I mean just see like kind of Q3 to Q4 results and then what we’re seeing in the conversations we’re having with customers, the way that it’s being adopted by the business, as Alex talked about, in the conversations we’re having with customers, we’re seeing that acceleration, and we expect that to continue.

Alex Karp: Also, just like we do these AIP conferences, I think we invited you and your team, we can’t do enough of them. We’re telling — we’re limiting the number of people who can come. It’s like a rock concert. It’s like, yeah, yeah, if you know somebody, we can get you backstage. By the way, for those of you who are evaluating our company, we are going to invite all of you to our bootcamps. Please use as you did, but like take a look at the software. It’s like we are not arguing in the abstract or in a PowerPoint or according to what you may have learned at business school that is better, we are arguing that it is better. And there’s no other way to show that, but to do it. But to your question, yeah, like, we’re already overfilled for our AIP bootcamp.

And it’s just we don’t know how to deal actually with this demand. And so, we’re rebuilding the company. And we have a lot of employees in Germany and France. I’m telling them it’s time to pack up and come to America. I’m telling our hiring, we are hiring here. We are having, as I mentioned, a bonanza of people wanting to work here because people are quite frankly tired of working for people who seemingly only have an opinion when it doesn’t matter and with products that may not work. We’re looking at — I’m getting personally involved in the recruiting again to get more people, but exactly the right people, and we’re going to scale against the demand. But it’s a real thing.

Ana Soro: Thank you. Alex, as usual, we have a lot of our shareholders on the line. Is there anything you’d like to say before we end the call?

Alex Karp: I mean, we are fighting for the West and its allies to be stronger. And we — I very much appreciate your support. At this company, we think about our investors. Our most important investors are at Palantir, our second most important investors are people investing their own money. And we relish your support, and it gives us a lot of motivation. I meet individual investors every time I go to a customer basically. And I’ve had individual investors, I’ve met at 2:00 a.m., 3:00 a.m. on a VTC, and I asked them, “Well, why are you working at 3:00 a.m. to make your enterprise better in AIP or Foundry?” And they basically all say the same thing, because Palantir is fighting for my rights and my liberty. And we are fighting for your rights and your liberty and we are going to continue to fight for that the way we do that, which is by delivering the best products to our allies by hurting our adversaries and by giving US commercial the strength it needs to massively outperform every other country in the world.

So, thank you.

Ana Soro: Thanks, Alex. That concludes Q&A for today’s call.

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