Looks like they’re trying to capitalize on the COVID bump. Only 250 customers? They’re at the mercy of probably 5 of them.
> The company’s top three customers — which aren’t disclosed — together represented 28% of the company’s revenue for 2019. Its top twenty customers represented 67% of total revenues, with each one of those customers averaging $24.8 million in revenue.
[0]: https://techcrunch.com/2020/08/21/leaked-palantir-s-1-shows-...
> Our top three customers together accounted for 33% and 28% of our revenue for the years ended December 31, 2018 and 2019, respectively, and 31% and 29% of our revenue for the six months ended June 30, 2019 and 2020, respectively.
> Palantir notes that customers from different parts of the same government department or company are considered separately (Palantir’s example is that the CDC and NIH are both part of the Department of Health and Human Services, but would be billed separately and are thus considered separate customers for the purpose of its calculation).
Likely all government entities with 5~10 year contracts. Customer concentration is only an issue when there is a possibility of churn. This isn't the case.