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Palantir Secures Additional $43 Million Contract from Space Systems Command
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Rhea-AI Summary
Palantir Technologies Inc. (NYSE:PLTR) has secured a $43 million extension contract from the Space Systems Command to enhance its data and decision-making platform for national security. This brings the total cumulative contract value to $91.5 million, reinforcing the Project Brown Heron initiative aimed at improving situational awareness at NORAD/USNORTHCOM. The Warp Core platform aids in the integration of complex data, thus facilitating better decision-making across multiple security levels. This partnership underscores Palantir's growing role in national defense.
Positive
Awarded a $43 million contract extension, total contract value now $91.5 million.
Enhances capabilities for national security initiatives, specifically Project Brown Heron.
Warp Core platform streamlines data management for improved decision-making.
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None.
DENVER--(BUSINESS WIRE)--
Palantir Technologies Inc. (NYSE:PLTR) announced today the Space Systems Command’s (SSC) Cross-Mission Ground & Communications Enterprise (ECX) awarded it a $43 million contract to continue its delivery of a data and decision platform to support national security objectives. This $43 million contract is an additional extension, expanding upon previous awards from April and August this year. The total cumulative face value of the contract is $91.5 million.
This award provides continued capabilities for Project Brown Heron which enables all-domain situational awareness and decision-making at NORAD/USNORTHCOM (N-NC), and the Space C2 division under the Cross Mission Ground & Communications Enterprise (ECX). The Palantir platform, known as Warp Core, is being utilized to make decisions from large volumes of data in support of these missions.
Warp Core leverages Palantir as a configurable enterprise data management and operations software solution that enables the integration and management of data from various data sources and supports application delivery, in-depth analysis, and data-driven decision-making across echelons and functional communities, including for users who operate on multiple security levels across multiple networks. As the application and data landscape continue to rapidly expand in both scale and complexity, Warp Core simplifies and streamlines data management and integration, to aid in everything from readiness to improved decision-making. Warp Core’s work also extends beyond Space Domain Awareness missions and was recently used by SSC and its partners to assist the evacuation of U.S. allies from Afghanistan.
“The threats to our nation in and through the space domain are very real as we’ve seen in recent weeks, we must continue to advance our Nation’s Space Domain Awareness capabilities,” said Doug Philippone, Global Defense Lead at Palantir Technologies. “We’re very proud to have consistently earned the confidence of this innovative organization and to continue our partnership.”
About Space Systems Command
The Space Systems Command, located at the Los Angeles Air Force Base in El Segundo, California, is the center of excellence for acquiring and developing military space systems. SSC’s portfolio includes space launch, global positioning systems, military satellite communications, a meteorological satellite control network, range systems, space-based infrared systems, and space situational awareness capabilities.
About Palantir Technologies
Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at https://www.palantir.com.
Who dares, wins.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
