Army Vantage Reaffirms Palantir Partnership with $114M Agreement

DENVER–(BUSINESS WIRE)–Palantir Technologies Inc. (NYSE:PLTR) announced today that the U.S. Army’s Program Executive Office for Enterprise Information Systems (PEO EIS) opted to execute the second year of its partnership with Palantir on the Army Vantage program, for a total price of $113.8 million for the year.

In December 2019, the U.S. Army selected Palantir for a $458 million production agreement to power Army Vantage, a comprehensive data analytics platform to facilitate data-driven decision making. The contract was for a base year and three option years, and Palantir was awarded $110 million at the time for the base year. The Army selected Palantir under a competitive prototype process and worked with Palantir to implement Army Vantage and quickly bring it to production.

Vantage is powered by Palantir’s software, which provides a central operating system that enhances readiness and offers near real-time visibility and access to disparate Army data sources on an integrated data platform. The Palantir platform enables organizations to make better use of the data they have by breaking down silos and offering a single operating picture.

Over the last year alone, Army Vantage has helped Army leaders make data-driven decisions in the fight against COVID-19 and allowed billions of taxpayer dollars to be freed up for high priority projects. In November, Army Vantage received a Public Sector Government Innovation Award for making data analysis accessible across the Army.

“This renewal highlights the partnership between Palantir and the Army,” said Doug Philippone, Global Defense Lead at Palantir. “Vantage continues to fulfill its mission of helping the U.S. Army make the best possible use of its data.”

About Palantir Technologies

Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the availability of future government funding; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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