Palantir Technologies reports 85% revenue growth and 150% net revenue retention as SaaS sector faces renewed selling pressure.
Software-as-a-service stocks extended losses in the latest tech sell-off, reversing gains made earlier this year. The sector’s decline comes despite evidence that artificial intelligence is driving growth rather than disruption for key players.
Palantir Technologies (NASDAQ: PLTR) saw revenue surge 85% in its most recent quarter, with U.S. commercial customer growth accelerating 133%. The company’s AI platform has driven 11 consecutive quarters of revenue growth, while net revenue retention reached 150% over the past 12 months.
Shares of PLTR have fallen 25% this year, underperforming broader tech benchmarks amid the sector-wide downturn. Analysts suggest the pullback may present a buying opportunity for select SaaS names.