The Palantir Story - How a SaaS Co gets a 100X ARR Multiple

tldr; Here’s the report

If you looked at Palantir's metrics in 2021 at the height of the SaaS boom you would have seen a company that was frankly - underwhelming. 

They were growing slower than most of their peers, 

Had worse GTM efficiency.

And you could argue they were probably under investing in S&M and R&D. 

Fast forward to today, and they're valued at $100M more than Salesforce, and do less then 1/10th the revenue.

So I wanted to rewind - take a look at their metrics from their IPO in 2020 through to today. 

And compare those against other SaaS co's that also went public in 2020.

The results are in this report.

I compared Palantir's performance to Snowflake, Zoominfo, Asana and BigCommerce (all IPOd in 2020) to see what Palantir did differently.

S&M Spend

R&D Spend

CAC Payback

Magic Number

ARR growth rates

FCF margins and more

It's all in this report.

The data behind one of the most richly valued SaaS companies ever.

Check it out, let me know what you think.