Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Palantir Technologies Inc., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020
	Cash and cash equivalents
	Marketable securities
	Accounts receivable, net
	Prepaid expenses and other current assets
	Current assets
	Property and equipment, net
	Operating lease right-of-use assets
	Other assets
	Noncurrent assets
	Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data reveals several notable trends in the company's asset structure over the five-year period from December 31, 2020, to December 31, 2024.

Cash and cash equivalents: This item showed an overall upward trend with fluctuations. Starting at approximately $2.01 billion in 2020, it increased steadily to around $2.60 billion by the end of 2022. However, there was a significant decline in 2023 to about $831 million, followed by a strong recovery to nearly $2.10 billion in 2024.
Marketable securities: Marketable securities were absent in 2020 but appeared at $234 million in 2021. The value decreased substantially to $35 million in 2022, then surged markedly to $2.84 billion in 2023 and further to $3.13 billion in 2024, indicating increased investment or liquidity management through marketable securities in recent years.
Accounts receivable, net: Accounts receivable exhibited steady growth each year, rising from approximately $157 million in 2020 to $575 million in 2024, reflecting expanding sales or receivables turnover issues that may warrant further investigation.
Prepaid expenses and other current assets: This category increased from about $89 million in 2020 to around $150 million in 2022, declined to approximately $100 million in 2023, and then rebounded to $129 million in 2024. This variability could be related to changes in payment patterns or timing of expenses recognized as assets.
Current assets: Overall current assets grew consistently year-over-year, starting at roughly $2.26 billion in 2020 and reaching $5.93 billion by 2024. This growth was driven primarily by rising cash, marketable securities, and accounts receivable balances.
Property and equipment, net: The net value of property and equipment more than doubled from about $29.5 million in 2020 to $69.2 million in 2022 but declined thereafter to $39.6 million by 2024, suggesting either asset disposals, depreciation effects, or reduced capital expenditures in recent years.
Operating lease right-of-use assets: The right-of-use assets related to operating leases showed a gradual decline from approximately $217 million in 2020 to $183 million in 2023, followed by a slight increase to around $201 million in 2024, possibly reflecting lease terminations or modifications and new leases.
Other assets: Other noncurrent assets demonstrated minor fluctuations, decreasing from roughly $186 million in 2020 to about $136 million in 2021, then increasing steadily to $166 million by 2024.
Noncurrent assets: The total noncurrent assets decreased initially from $433 million in 2020 to $384 million in 2021, increased to about $420 million in 2022, then declined to $384 million in 2023 before a slight increase to $407 million in 2024, indicating relatively stable long-term asset levels with moderate variability.
Total assets: Total assets exhibited a steady and significant increase over the period, growing from $2.69 billion in 2020 to $6.34 billion in 2024, driven by increases in both current and noncurrent assets. The most considerable relative increases were observed in current assets, underpinned by cash, marketable securities, and accounts receivable growth.

Assets: Selected Items

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Current Assets: Selected Items