The bizarre part to me is that Palantir was founded in 2004. How have they survived 16 years with constant large losses? There is no way they've had that much funding.
2. Likely their actual cashflow is not as bad - I suspect that, likely other tech cos, they have a lot of expenses in the form of stock comp, which is not an actual cash cost to the company. but must be accounted for per GAAP.
The biggest media/entertainment conglomerates, NGOs etc - many of these are in this boat.
The secret is that the compensation is in "soft" power for the ownership and execs, not financial gain¹.
¹(They likely have that covered too, especially with their "new" soft power).