Palantir (PLTR) 10-Q 12 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 07, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	Palantir Technologies Inc.
Entity Central Index Key	0001321655
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	PLTR
Security Exchange Name	NYSE
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,805,225,985
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		70,515,320
Common Class F [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,005,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 2,339,437	$ 2,011,323
Restricted cash	37,106	37,285
Accounts receivable	151,400	156,932
Prepaid expenses and other current assets	61,755	51,889
Total current assets	2,589,698	2,257,429
Property and equipment, net	27,378	29,541
Restricted cash, noncurrent	71,933	79,538
Operating lease right-of-use assets	213,331	217,075
Other assets	111,845	106,921
Total assets	3,014,185	2,690,504
Current liabilities:
Accounts payable	17,234	16,358
Accrued liabilities	181,603	158,546
Deferred revenue	186,498	189,520	[1]
Customer deposits	250,181	210,320
Operating lease liabilities	32,110	29,079
Total current liabilities	667,626	603,823
Deferred revenue, noncurrent	44,998	50,525	[1]
Customer deposits, noncurrent	70,768	81,513
Debt, noncurrent, net	198,185	197,977
Operating lease liabilities, noncurrent	222,429	229,800
Other noncurrent liabilities	4,236	4,316
Total liabilities	1,208,242	1,167,954
Commitments and Contingencies (Note 8)
Stockholders' equity (deficit):
Preferred stock	0	0
Common stock	1,860	1,792
Additional paid-in capital	6,892,046	6,488,857
Accumulated other comprehensive income (loss)	865	(2,745)
Accumulated deficit	(5,088,828)	(4,965,354)
Total stockholders' equity	1,805,943	1,522,550
Total liabilities and stockholders' equity	$ 3,014,185	$ 2,690,504
[1]	Deferred revenue as of March 31, 2021 and December 31, 2020 includes $61.1 million and $68.2 million, respectively, from Palantir Technologies Japan, K.K. See Note 6. Equity Method Investments, for more information.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,000,000,000	2,000,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	22,701,005,000	22,701,005,000
Common stock, shares issued	1,860,607,000	1,792,140,000
Common stock, shares outstanding	1,860,607,000	1,792,140,000
Palantir Technologies Japan, K.K. [Member]
Deferred revenue	$ 61.1	$ 68.2
Class A Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	20,000,000,000	20,000,000,000
Common stock, shares issued	1,792,699,000	1,542,058,000
Common stock, shares outstanding	1,792,699,000	1,542,058,000
Class B Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	2,700,000,000	2,700,000,000
Common stock, shares issued	66,903,000	249,077,000
Common stock, shares outstanding	66,903,000	249,077,000
Class F Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,005,000	1,005,000
Common stock, shares issued	1,005,000	1,005,000
Common stock, shares outstanding	1,005,000	1,005,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 341,234	$ 229,327
Cost of revenue	74,111	64,294
Gross profit	267,123	165,033
Operating expenses:
Sales and marketing	136,097	98,653
Research and development	98,471	65,800
General and administrative	146,569	70,765
Total operating expenses	381,137	235,218
Loss from operations	(114,014)	(70,185)
Interest income	376	3,267
Interest expense	(1,840)	(4,594)
Change in fair value of warrants		13,695
Other income (expense), net	(4,894)	6,100
Loss before provision for income taxes	(120,372)	(51,717)
Provision for income taxes	3,102	2,557
Net loss	$ (123,474)	$ (54,274)
Net loss per share attributable to common stockholders, basic	$ (0.07)	$ (0.09)
Net loss per share attributable to common stockholders, diluted	$ (0.07)	$ (0.10)
Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, basic	1,821,158	591,850
Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, diluted	1,821,158	594,363

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (123,474)	$ (54,274)
Other comprehensive income:
Foreign currency translation adjustments	3,610	1,026
Comprehensive loss	$ (119,864)	$ (53,248)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible and Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Series H-1 Convertible Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]Series H-1 Convertible Preferred Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Series H-1 Convertible Preferred Stock [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Redeemable Convertible Preferred Stock [Member]	Nonredeemable Convertible Preferred Stock [Member]	Nonredeemable Convertible Preferred Stock [Member]Series H-1 Convertible Preferred Stock [Member]
Temporary equity, beginning period, Shares at Dec. 31, 2019										4,017,000	742,840,000
Temporary equity, beginning period at Dec. 31, 2019										$ 33,569	$ 2,093,662
Balance at beginning period, Shares at Dec. 31, 2019			581,497,000
Balance at beginning period at Dec. 31, 2019	$ (1,980,642)		$ 588		$ 1,857,331		$ (38,895)	$ (703)	$ (3,798,963)
Balance at beginning period, treasury shares at Dec. 31, 2019							6,393,000
Repurchase of common stock, held in treasury, Shares			(808,000)				808,000
Repurchase of common stock, held in treasury	(3,777)						$ (3,777)
Issuance of common stock from the exercise of stock options	6,710		$ 7		6,703
Issuance of common stock from the exercise of stock options, Shares			7,316,000
Conversion of convertible preferred stock to common stock, Shares				28,000								(28,000)
Conversion of convertible preferred stock to common stock		$ 100				$ 100						$ (100)
Other comprehensive income	1,026							1,026
Stock-based compensation	54,238				54,238
Net loss	(54,274)								(54,274)
Balance at end of period, Shares at Mar. 31, 2020			588,033,000
Balance at end of period at Mar. 31, 2020	(1,976,619)		$ 595		1,918,372		$ (42,672)	323	(3,853,237)
Temporary equity, ending period, Shares at Mar. 31, 2020										4,017,000	742,812,000
Temporary equity, ending period at Mar. 31, 2020										$ 33,569	$ 2,093,562
Balance at end of period, treasury shares at Mar. 31, 2020							7,201,000
Balance at beginning period, Shares at Dec. 31, 2020			1,792,140,000
Balance at beginning period at Dec. 31, 2020	1,522,550		$ 1,792		6,488,857			(2,745)	(4,965,354)
Issuance of common stock from the exercise of stock options	$ 208,860		$ 55		208,805
Issuance of common stock from the exercise of stock options, Shares	55,301,000		55,300,000
Issuance of common stock upon vesting of growth units, Shares			1,471,000
Issuance of common stock upon vesting of growth units			$ 1		(1)
Issuance of common stock upon net exercise of common stock warrants, Shares			736,000
Issuance of common stock upon net exercise of common stock warrants			$ 1		(1)			0
Other comprehensive income	$ 3,610							3,610
Issuance of common stock upon settlement of restricted stock units ("RSUs"), Shares			10,960,000
Issuance of common stock upon settlement of restricted stock units ("RSUs")	0		$ 11		(11)			0	0
Stock-based compensation	194,397				194,397
Net loss	(123,474)								(123,474)
Balance at end of period, Shares at Mar. 31, 2021			1,860,607,000
Balance at end of period at Mar. 31, 2021	$ 1,805,943		$ 1,860		$ 6,892,046			$ 865	$ (5,088,828)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net loss	$ (123,474)	$ (54,274)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	3,237	3,671
Stock-based compensation	193,731	54,107
Change in fair value of warrants		(13,695)
Non-cash operating lease expense	6,477	10,160
Other operating activities	771	514
Changes in operating assets and liabilities:
Accounts receivable	4,480	(51,403)
Prepaid expenses and other current assets	(9,753)	(7,974)
Other assets	(4,865)	(8,403)
Accounts payable	51	(40,790)
Accrued liabilities	44,488	(39,368)
Deferred revenue, current and noncurrent	(11,952)	8,599
Customer deposits, current and noncurrent	20,825	(132,077)
Operating lease liabilities, current and noncurrent	(7,132)	(16,251)
Other noncurrent liabilities	(3)	0
Net cash used in operating activities	116,881	(287,184)
Investing activities
Purchases of property and equipment	(708)	(3,016)
Net cash used in investing activities	(708)	(3,016)
Financing activities
Proceeds from the exercise of common stock options	208,860	6,710
Repurchase of common stock		(3,777)
Other financing activities	(2,506)	(439)
Net cash provided by (used in) financing activities	206,354	2,494
Effect of foreign exchange on cash, cash equivalents, and restricted cash	(2,197)	(1,627)
Net increase (decrease) in cash, cash equivalents, and restricted cash	320,330	(289,333)
Cash, cash equivalents, and restricted cash - beginning of period	2,128,146	1,401,962
Cash, cash equivalents, and restricted cash - end of period	2,448,476	1,112,629
Supplemental disclosures of cash flow information:
Cash paid for income taxes	878	7,665
Cash paid for interest	$ 1,662	$ 1,774

Organization

Organization	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Palantir Technologies Inc. (including its subsidiaries, “Palantir,” or “the Company”) was incorporated in Delaware on May 6, 2003. The Company builds and deploys software platforms, Palantir Gotham and Palantir Foundry, that serve as the central operating systems for its customers.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The accompanying condensed consolidated financial statements include the accounts of Palantir Technologies Inc. and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in entities where the Company holds at least a 20% ownership interest and has the ability to exercise significant influence over the investee, but does not control, are accounted for using the equity method of accounting. For such investments, the share of the investee’s results of operations is included as a component of other income (expense), net in the condensed consolidated statements of operations and the investment balance is included in other assets and classified as noncurrent in the condensed consolidated balance sheets. The Company’s fiscal year ends on December 31. The unaudited condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In management’s opinion, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets and statements of operations, comprehensive loss, stockholders’ equity (deficit), and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The Company ceased to be an emerging growth company as of December 31, 2020, which accelerated its adoption of Accounting Standards Update (“ASU”) 2016-02, These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in its Annual Report on Form 10-K Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to, identification of performance obligations in customer contracts, the valuation of deferred tax assets and uncertain tax positions, collectability of accounts receivable, useful lives of tangible assets, and the incremental borrowing rate for operating leases. Estimates and judgments are based on historical experience, forecasted events, and various other assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could affect the Company’s financial position and results of operations. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2. Significant Accounting Policies 10-K Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. Cash equivalents consists of amounts invested in money market funds. Restricted cash primarily consists of cash and certificates of deposit that are held as collateral against letters of credit and guarantees that the Company is required to maintain for operating lease agreements, certain customer contracts, and other guarantees and financing arrangements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the amounts shown in the condensed consolidated statements of cash flows (in thousands): As of March 31, 2021 2020 Cash and cash equivalents $ 2,339,437 $ 809,530 Restricted cash 37,106 65,795 Restricted cash, noncurrent 71,933 237,304 Total cash, cash equivalents, and restricted cash $ 2,448,476 $ 1,112,629 Accounts Receivable and Allowance for Credit Losses Accounts receivable are recorded at the invoiced amount, net of an allowance for credit losses, if any. The Company generally grants non-collateralized COVID-19 written-off Concentrations of Credit Risk and Other Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, and accounts receivable. Cash equivalents consist of money market funds with original maturities of three months or less, which are invested primarily with U.S. financial institutions. Cash deposits with financial institutions, including restricted cash, generally exceed federally insured limits. Management believes minimal credit risk exists with respect to these financial institutions and the Company has not experienced any losses on such amounts. The Company is exposed to concentrations of credit risk with respect to accounts receivable presented on the condensed consolidated balance sheets. The Company’s accounts receivable balances as of March 31, 2021 and December 31, 2020 were $151.4 million and $156.9 million, respectively. Customer G represented 14% and 13% of total accounts receivable as of March 31, 2021 and December 31, 2020, respectively. No other customer represented more than 10% of total accounts receivable as of March 31, 2021 and December 31, 2020. The Company seeks to mitigate its credit risk with respect to accounts receivable by contracting with large commercial customers and government agencies and regularly monitoring the aging of accounts receivable balances. As of March 31, 2021 and December 31, 2020, the Company had not experienced any significant losses on its accounts receivable. For the three months ended March 31, 2021, no customer represented more than 10% of total revenue. For the three months ended March 31, 2020, Customer F, which is in the government operating segment, represented 12% of total revenue and Customer A, which is in the commercial operating segment, represented 11% of total revenue. No other customer represented more than 10% of total revenue for the three months ended March 31, 2020. The Company relies on the technology, infrastructure, and software applications, including software-as-a-service Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) 2019-12 2019-12 2019-12

Contract Liabilities and Remain

Contract Liabilities and Remaining Performance Obligations	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract Liabilities and Remaining Performance Obligations	3. Contract Liabilities and Remaining Performance Obligations Contract Liabilities The Company’s contract liabilities consist of deferred revenue and customer deposits. As March 31, 2021 and December 31, 2020 the Company’s contract liability balances were $552.4 million and $531.9 million, respectively. Revenue of $169.5 million and $181.2 million was recognized during the three months ended March 31, 2021 and 2020, respectively, that was included in the contract liability balances as of December 31, 2020 and 2019, respectively. Remaining Performance Obligations The Company’s arrangements with its customers often have terms that span over multiple years. However, the Company generally allows its customers to terminate contracts for convenience prior to the end of the stated term with less than twelve months’ notice. Revenue allocated to remaining performance obligations represents noncancelable contracted revenue that has not yet been recognized, which includes deferred revenue and, in certain instances, amounts that will be invoiced. The Company has elected the practical expedient allowing the Company to not disclose remaining performance obligations for contracts with original terms of twelve months or less. Cancelable contracted revenue, which includes customer deposits, is not considered a remaining performance obligation. The Company’s remaining performance obligations were $625.9 million as of March 31, 2021, of which the Company expects to recognize approximately 50% as revenue over the next twelve months. Disaggregation of Revenue See Note 13. Segment and Geographic Information

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements Financial instruments consist of cash equivalents, restricted cash, accounts receivable, other assets accounted for at fair value, accounts payable, and accrued liabilities. Cash equivalents and restricted cash are stated at fair value on a recurring basis. Accounts receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. The carrying amount of the Company’s outstanding debt approximates the fair value as the debt bears a floating rate that approximates the market interest rate. The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring and nonrecurring basis and indicates the fair value hierarchy of the valuation (in thousands): As of March 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,163,796 $ 1,163,796 $ — $ — Restricted cash: Certificates of deposit 66,116 — 66,116 — Total $ 1,229,912 $ 1,163,796 $ 66,116 $ — As of December 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,075,783 $ 1,075,783 $ — $ — Restricted cash: Certificates of deposit 74,097 — 74,097 — Total $ 1,149,880 $ 1,075,783 $ 74,097 $ — Certificates of Deposit The Company’s Level 2 instruments consist of restricted cash invested in certificates of deposit. The fair value of such instruments is estimated based on valuations obtained from third-party pricing services that utilize industry standard valuation models, including both income-based and market-based approaches, for which all significant inputs are observable either directly or indirectly. These inputs include interest rate curves, foreign exchange rates, and credit ratings. Gross unrealized gains or losses for cash equivalents as of March 31, 2021 and December 31, 2020 were not material.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	5. Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): As of March 31, 2021 As of December 31, 2020 Leasehold improvements $ 85,303 $ 85,196 Computer equipment, software, and other 22,978 22,275 Furniture and fixtures 9,957 9,976 Construction in progress 710 493 Total property and equipment, gross 118,948 117,940 Less: accumulated depreciation and amortization (91,570) (88,399) Total property and equipment, net $ 27,378 $ 29,541 Depreciation and amortization expense related to property and equipment, net was $3.2 million and $3.7 million for the three months ended March 31, 2021 and 2020, respectively. Accrued Liabilities Accrued liabilities consisted of the following (in thousands): As of March 31, As of December 31, Accrued payroll and related expenses $ 113,513 $ 85,466 Accrued other liabilities 68,090 73,080 Total accrued liabilities $ 181,603 $ 158,546

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	6. Equity Method Investments Palantir Technologies Japan, K.K. During November 2019, the Company and SOMPO Holdings, Inc. (“SOMPO”) created a Japanese Kabushiki Kaisha (“K.K.”), Palantir Technologies Japan, K.K. (“Palantir Japan”), to distribute Palantir platforms to the Japanese market. Upon closing of the transaction with SOMPO, the Company purchased a total of 100,000 shares of Palantir Japan common stock for $25.0 million. The shares the Company received in exchange represent a 50% voting interest in Palantir Japan. The remaining 50% of the voting interest is held by SOMPO. The Company’s investment in Palantir Japan is accounted for as an equity method investment as the Company is able to exercise significant influence over, but does not control, the investee. Concurrently with the formation of Palantir Japan, the Company entered into a ten-year non-transferable as-needed

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	7. Debt 2014 Credit Facility In October 2014, the Company entered into an unsecured revolving credit facility which has been subsequently amended (the “2014 Credit Facility”). The 2014 Credit Facility bears interest at the London Interbank Offered Rate (“LIBOR”) plus a margin of 2.75% per annum, subject to certain adjustments, and incurs a commitment fee of 0.375% assessed on the daily average undrawn portion of revolving commitments. Interest and commitment fees are payable at the end of an interest period or at each three-month interval if the interest period is longer than three months. The 2014 Credit Facility, as amended, matures on June 4, 2023. As of March 31, 2021, the Company had $200.0 million of term loans outstanding under the 2014 Credit Facility and an additional $200.0 million undrawn revolving credit facility available. The 2014 Credit Facility is secured with substantially all of the Company’s assets. The 2014 Credit Facility contains customary representations and warranties, and certain financial and nonfinancial covenants, including but not limited to maintaining minimum liquidity of $50.0 million, and certain limitations on liens and indebtedness. The Company was in compliance with all covenants associated with the 2014 Credit Facility as of March 31, 2021. The Company’s outstanding debt consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 As of December 31, Principal amount $ 200,000 $ 200,000 Unamortized discount (1,815) (2,023) Carrying value of debt $ 198,185 $ 197,977

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Letters of Credit and Guarantees The Company had irrevocable standby letters of credit and guarantees, including bank guarantees, outstanding in the amounts of $109.0 million and $116.8 million as of March 31, 2021 and December 31, 2020, respectively, which were fully collateralized. The Company is required to maintain these letters of credit and guarantees primarily for operating lease agreements, certain customer contracts, and other guarantees and financing arrangements. As of March 31, 2021, these letters of credit and guarantees had expiration dates through August 2028. Purchase Commitments In December 2019, the Company entered into, and subsequently amended during December 2020, a minimum annual commitment to purchase cloud hosting services of at least $1.49 billion over six contract years, with an optional carryover period through June 30, 2029, in exchange for various discounts on such services. If the spend does not meet the minimum annual commitment each year or at the end of the term, the Company is obligated to make a return payment. If the difference is greater than $30.0 million for each of the first three contract years or $50.0 million for each of the contract years thereafter (“relief amounts”), the Company has the option to pay the respective relief amount for that year for services to be utilized in the future and the excess amount of the difference above the relief amount would be added to the minimum annual commitment of the following year through the end of the contract. As of March 31, 2021, the Company had satisfied $111.2 million of its $126.0 million commitment for the contract year ending June 30, 2021. In June 2020, the Company entered into an additional commitment to purchase at least $45.0 million of cloud hosting services over a period of five years commencing on June 1, 2020 and ending on May 31, 2025. If the spend commitment is not met at the end of the term, the Company is obligated to pay the full amount of the outstanding balance (“shortfall payment”). The shortfall payment may be applied as a prepayment against consumption during an additional twelve-month coverage period expiring on May 31, 2026, at which time any unused amount would be forfeited. As of March 31, 2021, the Company had satisfied $4.4 million of its commitment. Investment Commitment On March 30, 2021, the Company entered into a subscription agreement with Qell Acquisition Corp (“Qell”) and Qell DutchCo B.V (“Lilium HoldCo”) to purchase 4.1 million Class A ordinary shares of Lilium HoldCo in a private placement for a total purchase price of $41.0 million. The closing of the private placement is contingent upon the completion of the proposed business combination between Qell, Lilium HoldCo, and Lilium GmbH (“Lilium”). Additionally, concurrent with signing the subscription agreement, Lilium and the Company entered into a five-year enterprise subscription contract to access the Company’s products and services. Litigation and Legal Proceedings From time to time, third parties may assert patent infringement claims against the Company. In addition, from time to time, the Company may be subject to other legal proceedings and claims in the ordinary course of business, including claims of alleged infringement of trademarks, copyrights, and other intellectual property rights; employment claims; securities claims; investor claims; corporate claims; class action claims; and general contract, tort, or other claims. The Company may from time to time also be subject to various legal or government claims, disputes, or investigations. Such matters may include, but not be limited to, claims, disputes, allegations, or investigations related to warranty; refund; breach of contract; breach, leak, or misuse of personal data or confidential information; employment; government procurement; intellectual property; government regulation or compliance (including but not limited to anti-corruption requirements, export or other trade controls, data privacy or data protection, cybersecurity requirements, or antitrust/competition law requirements); securities; investor; corporate; or other matters. The Company is unable to predict whether or when any such matters may arise, the outcome of these matters, or the ultimate legal and financial liability, and cannot reasonably estimate the possible loss or range of loss at this time and accordingly has not accrued a related liability. On December 14, 2017, members of KT4 Partners LLC (Managing Member Marc Abramowitz) and Sandra Martin Clark, as trustee for the Marc Abramowitz Irrevocable Trust Number 7 (together, “KT4 Plaintiffs”), filed an action in the Delaware Superior Court against the Company and Disruptive Technology Advisers LLC. The complaint alleges tortious interference with prospective economic advantage and civil conspiracy in connection with a potential sale of stock by the KT4 Plaintiffs to a third party. The KT4 Plaintiffs seek compensatory and punitive damages, interest, fees, and costs. The Company believes this lawsuit is without merit and is vigorously defending itself against it. Given the uncertainty of litigation, it may be reasonably possible that the Company will incur a loss with regards to the matter; however, it cannot currently estimate a range of possible losses. Accordingly, the Company is unable at this time to estimate the overall effects that may result from the case on its financial condition, results of operations, or cash flows. As of March 31, 2021, the Company was not aware of any currently pending legal matters or claims, individually or in the aggregate, that were expected to have a material adverse impact on its condensed consolidated financial statements. Warranties and Indemnification The Company generally provides a warranty for its software products and services and a service level agreement (“SLA”) for the Company’s performance of software operations via its operations and maintenance (“O&M”) services to its customers. The Company’s products are generally warranted to perform substantially as described in the associated product documentation during the subscription term or for a period of up to 90 days where the software is hosted by the customer; and the Company includes O&M services as part of its subscription and license agreements to support this warranty and maintain the operability of the software. The Company’s services are generally warranted to be performed in a professional manner and by an adequate staff with knowledge about the products. In the event there is a failure of such warranties, the Company generally is obligated to correct the product or service to conform to the warranty provision, as set forth in the applicable SLA, or, if the Company is unable to do so, the customer is entitled to seek a refund of the purchase price of the product and service (generally prorated over the contract term). Due to the absence of historical warranty claims, the Company’s expectations of future claims related to products under warranty continue to be insignificant. The Company has not recorded warranty expense or related accruals as of March 31, 2021 and December 31, 2020. The Company generally agrees to indemnify its customers against legal claims that the Company’s software products infringe certain third-party intellectual property rights and accounts for its indemnification obligations. In the event of such a claim, the Company is generally obligated to defend its customer against the claim and to either settle the claim at the Company’s expense or pay damages that the customer is legally required to pay to the third-party claimant. In addition, in the event of an infringement, the Company generally agrees to secure the right for the customer to continue using the infringing product; to modify or replace the infringing product; or, if those options are not commercially practicable, to refund the cost of the software, as prorated over the period. To date, the Company has not been required to make any payment resulting from infringement claims asserted against its customers and does not believe that the Company will be liable for such claims in the foreseeable future. As such, the Company has not recorded a liability for infringement costs as of March 31, 2021 and December 31, 2020. The Company has obligations under certain circumstances to indemnify each of the defendant directors and certain officers against judgments, fines, settlements, and expenses related to claims against such directors and certain officers and otherwise to the fullest extent permitted under the law and the Company’s bylaws and Amended and Restated Certificate of Incorporation.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure	9. Stockholders’ Equity The Company’s Class A, Class B, and Class F common stock (collectively, the “common stock”) all have the same rights, except with respect to voting and conversion rights. Class A and Class B common stock have voting rights of 1 and 10 votes per share, respectively. The Class F common stock has the voting rights generally described below and each share of Class F common stock is convertible at any time, at the option of the holder thereof, into one share of Class B common stock. All shares of Class F common stock are held in a voting trust established by Stephen Cohen, Alexander Karp, and Peter Thiel (our “Founders”). The Class F common stock generally gives the Founders the ability to control up to 49.999999% of the total voting power of the Company’s capital stock, so long as the Founders and certain of their affiliates collectively meet a minimum ownership threshold, which was 100.0 million of the Company’s equity securities as of March 31, 2021. Holders of common stock are entitled to dividends when, as and if declared by the Company’s Board of Directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. No dividends have been declared as of March 31, 2021. In connection with the Company’s direct listing of its Class A common stock on the New York Stock Exchange (“Direct Listing”) in September 2020, all outstanding shares of redeemable convertible preferred stock and convertible preferred stock were converted into 4,017,378 and 793,725,807 shares of Class B common stock, respectively, and 1,005,000 shares of Class B common stock held by the Founders were exchanged for an equal number of shares of Class F common stock. The following represented the total authorized, issued, and outstanding shares for each class of common stock (in thousands): As of March 31, 2021 As of December 31, 2020 Authorized Issued and Authorized Issued and Common stock: Class A 20,000,000 1,792,699 20,000,000 1,542,058 Class B 2,700,000 66,903 2,700,000 249,077 Class F 1,005 1,005 1,005 1,005 Total 22,701,005 1,860,607 22,701,005 1,792,140

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Stock Options The following table summarizes stock option activity for the three months ended March 31, 2021 (in thousands, except per share amounts): Options Weighted- Per Share Weighted- Remaining Life (years) Aggregate Intrinsic Value Balance as of December 31, 2020 535,767 $ 6.12 7.99 $ 9,340,245 Options exercised (55,301) 3.78 Options canceled and forfeited (2,889) 5.16 Balance as of March 31, 2021 477,577 $ 6.39 8.08 $ 8,069,476 Options vested and exercisable as of March 31, 2021 259,517 $ 3.67 5.85 $ 5,093,003 As of March 31, 2021, the unrecognized expense related to options outstanding was $1.1 billion, which is expected to be recognized over a weighted-average service period of 8.09 years. RSUs The following table summarizes the RSU activity for the three months ended March 31, 2021 (in thousands, except per share amounts): RSUs Weighted Average Unvested and outstanding as of December 31, 2020 184,870 $ 6.97 RSUs granted 3,225 38.12 RSUs vested (10,960) 6.84 RSUs canceled (2,612) 6.39 Unvested and outstanding as of March 31, 2021 174,523 $ 7.55 As of March 31, 2021, the total unrecognized stock-based compensation expense related to the RSUs outstanding was $850.8 million, which the Company expects to recognize over 3.30 years. Growth Units In May 2019, the Company granted growth units which vest upon the satisfaction of both a performance-based vesting condition, which was satisfied upon the Company’s Direct Listing, and a service-based vesting condition, which was satisfied in March 2021. In March 2021, the 3.6 million outstanding growth units vested and, per the formula applicable to the awards, converted into 1.5 million shares of common stock. During the three months ended March 31, 2021, the Company recognized the remaining stock-based compensation expense related to the growth units of $1.2 million. Stock-based Compensation Expense Total stock-based compensation expense was as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 15,977 $ 8,068 Sales and marketing 57,286 18,463 Research and development 37,874 15,032 General and administrative 82,594 12,544 Total stock-based compensation expense $ 193,731 $ 54,107 Related Party Non-Recourse In November 2016, the Company entered into a non-recourse In August 2020, the Company received a payment of $26.6 million for a portion of the principal and accrued interest on the outstanding non-recourse

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company recorded provision for income taxes of $3.1 million and $2.6 million for the three months ended March 31, 2021 and 2020, respectively. The Company is subject to income tax in the U.S. as well as other tax jurisdictions in which it conducts business. The Company’s 2021 effective tax rate differs from the U.S. statutory rate primarily due to the valuation allowance recorded on the Company’s losses in the U.S. and other jurisdictions. The change was primarily due to increases in profits from the Company’s international operations offset by decreases in foreign withholding taxes. The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. The Company assesses its ability to realize the deferred tax assets on a quarterly basis, and it establishes a valuation allowance if it is more-likely-than-not non-deductible

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	12. Net Loss Per Share Attributable to Common Stockholders The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator Net loss attributable to common stockholders $ (123,474) $ (54,274) Less: Change in fair value attributable to participating securities — (7,773) Net loss attributable to common stockholders, for diluted net loss per share $ (123,474) $ (62,047) Denominator Weighted-average shares used in computing net loss per share, basic 1,821,158 591,850 Weighted-average shares used in computing net loss per share, diluted 1,821,158 594,363 Net loss per share Net loss per share attributable to common stockholders, basic $ (0.07) $ (0.09) Net loss per share attributable to common stockholders, diluted $ (0.07) $ (0.10) The following outstanding potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented due to their anti-dilutive effect (in thousands): As of March 31, 2021 2020 Redeemable convertible preferred stock — 4,017 Convertible preferred stock — 791,225 Warrants to purchase redeemable convertible and convertible preferred stock — 18,254 Warrants to purchase common stock 18,253 993 Options and SARs issued and outstanding 477,602 486,342 RSUs outstanding 174,523 175,954 Growth units outstanding — 3,583 Total 670,378 1,480,368

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment and Geographic Information	13. Segment and Geographic Information The following tables reflect the results of the Company’s reportable operating segments consistent with the manner in which the chief operating decision maker (“CODM”) evaluates the performance of each segment and allocates the Company’s resources. The CODM does not evaluate the performance of the Company’s assets on a segment basis for internal management reporting and, therefore, such information is not presented. Contribution is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. A segment’s contribution is calculated as segment revenue less the related costs of revenue and sales and marketing expenses. It excludes certain operating expenses that are not allocated to segments because they are separately managed at the consolidated corporate level. These unallocated costs include stock-based compensation expense, research and development expenses, and general and administrative expenses. Financial information for each reportable segment was as follows (in thousands): Three Months Ended March 31, 2021 2020 Revenue: Government $ 208,420 $ 118,127 Commercial 132,814 111,200 Total revenue $ 341,234 $ 229,327 Three Months Ended March 31, 2021 2020 Contribution: Government $ 131,746 $ 51,897 Commercial 72,543 41,014 Total contribution $ 204,289 $ 92,911 The reconciliation of contribution to loss from operations is as follows (in thousands): Three Months Ended March 31, 2021 2020 Loss from operations $ (114,014) $ (70,185) Research and development expenses (1) 60,597 50,768 General and administrative expenses (1) 63,975 58,221 Stock-based compensation expense 193,731 54,107 Total contribution $ 204,289 $ 92,911 __________ (1) Geographic Information Revenue by geography is based on the customer’s headquarters or agency location at the time of sale. Revenue is as follows (in thousands, except percentages): Three Months Ended March 31, 2021 2020 Amount % Amount % Revenue: United States $ 198,447 58% $ 109,777 48% United Kingdom 34,385 10% 28,975 13% France 21,090 6% 25,730 11% Rest of world (1) 87,312 26% 64,845 28% Total revenue $ 341,234 100% $ 229,327 100% __________ (1)

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events Amendment of the 2014 Credit Facility and Repayment of the Outstanding Revolving Term Loan On April 1, 2021, the Company entered into an amendment to the 2014 Credit Facility, which provides for an increase of $200.0 million to the revolving commitments of the existing lenders under the 2014 Credit Facility, for total revolving commitments of $400.0 million, and which also provides for an incremental loan facility repaid Investments On April 5, 2021, the Company entered into a subscription agreement with Rotor Acquisition Corp. (“Rotor”) to purchase 2.1 million shares of common stock six-year Company’s products and services. On May 1, 2021, the Company entered into a subscription agreement with Montes Archimedes Acquisition Corp. (“Montes”) and Roivant Sciences Ltd. (“Roivant”) to purchase 3.0 million shares of Class A common stock of Montes in a private placement for a total purchase price of $30.0 million. The closing of the private placement is contingent upon the completion of the proposed business combination between Montes, Roivant, and other applicable parties. Additionally, concurrent with signing the subscription agreement, Roivant and the Company entered into a five-year enterprise subscription contract to access the Company’s products and services. On May 5, 2021, the Company entered into a subscription agreement with GX Acquisition Corp. (“GX”) to purchase 2.0 million shares of Class A common stock of GX in a private placement for a total purchase price of $20.0 million. The closing of the private placement is contingent upon the completion of the proposed business combination between GX, Celularity Inc. (“Celularity”), and other applicable parties. Additionally, concurrent with signing the subscription agreement, Celularity and the Company entered into a five-year enterprise subscription contract to access the Company’s products and services. On May 11, 2021, the Company entered into a subscription agreement with a special purpose acquisition company to purchase 2.0 million shares of its Class A common stock in a private placement for a total purchase price of $20.0 million. The closing of the private placement is contingent upon the completion of the proposed business combination between the special purpose acquisition company and a mobility company, and other applicable parties. Additionally, concurrent with signing the subscription agreement, the mobility company and the Company entered into a five-year enterprise subscription contract to access the Company’s products and services.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The accompanying condensed consolidated financial statements include the accounts of Palantir Technologies Inc. and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in entities where the Company holds at least a 20% ownership interest and has the ability to exercise significant influence over the investee, but does not control, are accounted for using the equity method of accounting. For such investments, the share of the investee’s results of operations is included as a component of other income (expense), net in the condensed consolidated statements of operations and the investment balance is included in other assets and classified as noncurrent in the condensed consolidated balance sheets. The Company’s fiscal year ends on December 31. The unaudited condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In management’s opinion, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets and statements of operations, comprehensive loss, stockholders’ equity (deficit), and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The Company ceased to be an emerging growth company as of December 31, 2020, which accelerated its adoption of Accounting Standards Update (“ASU”) 2016-02, These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in its Annual Report on Form 10-K
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to, identification of performance obligations in customer contracts, the valuation of deferred tax assets and uncertain tax positions, collectability of accounts receivable, useful lives of tangible assets, and the incremental borrowing rate for operating leases. Estimates and judgments are based on historical experience, forecasted events, and various other assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could affect the Company’s financial position and results of operations.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. Cash equivalents consists of amounts invested in money market funds. Restricted cash primarily consists of cash and certificates of deposit that are held as collateral against letters of credit and guarantees that the Company is required to maintain for operating lease agreements, certain customer contracts, and other guarantees and financing arrangements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the amounts shown in the condensed consolidated statements of cash flows (in thousands): As of March 31, 2021 2020 Cash and cash equivalents $ 2,339,437 $ 809,530 Restricted cash 37,106 65,795 Restricted cash, noncurrent 71,933 237,304 Total cash, cash equivalents, and restricted cash $ 2,448,476 $ 1,112,629
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Credit Losses Accounts receivable are recorded at the invoiced amount, net of an allowance for credit losses, if any. The Company generally grants non-collateralized COVID-19 written-off
Concentrations of Credit Risk and Other Concentrations	Concentrations of Credit Risk and Other Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, and accounts receivable. Cash equivalents consist of money market funds with original maturities of three months or less, which are invested primarily with U.S. financial institutions. Cash deposits with financial institutions, including restricted cash, generally exceed federally insured limits. Management believes minimal credit risk exists with respect to these financial institutions and the Company has not experienced any losses on such amounts. The Company is exposed to concentrations of credit risk with respect to accounts receivable presented on the condensed consolidated balance sheets. The Company’s accounts receivable balances as of March 31, 2021 and December 31, 2020 were $151.4 million and $156.9 million, respectively. Customer G represented 14% and 13% of total accounts receivable as of March 31, 2021 and December 31, 2020, respectively. No other customer represented more than 10% of total accounts receivable as of March 31, 2021 and December 31, 2020. The Company seeks to mitigate its credit risk with respect to accounts receivable by contracting with large commercial customers and government agencies and regularly monitoring the aging of accounts receivable balances. As of March 31, 2021 and December 31, 2020, the Company had not experienced any significant losses on its accounts receivable. For the three months ended March 31, 2021, no customer represented more than 10% of total revenue. For the three months ended March 31, 2020, Customer F, which is in the government operating segment, represented 12% of total revenue and Customer A, which is in the commercial operating segment, represented 11% of total revenue. No other customer represented more than 10% of total revenue for the three months ended March 31, 2020. The Company relies on the technology, infrastructure, and software applications, including software-as-a-service
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) 2019-12 2019-12 2019-12

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the amounts shown in the condensed consolidated statements of cash flows (in thousands): As of March 31, 2021 2020 Cash and cash equivalents $ 2,339,437 $ 809,530 Restricted cash 37,106 65,795 Restricted cash, noncurrent 71,933 237,304 Total cash, cash equivalents, and restricted cash $ 2,448,476 $ 1,112,629

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary Of Assets And Liabilities That Are Measured At Fair Value On A Recurring And Nonrecurring Basis	The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring and nonrecurring basis and indicates the fair value hierarchy of the valuation (in thousands): As of March 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,163,796 $ 1,163,796 $ — $ — Restricted cash: Certificates of deposit 66,116 — 66,116 — Total $ 1,229,912 $ 1,163,796 $ 66,116 $ — As of December 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,075,783 $ 1,075,783 $ — $ — Restricted cash: Certificates of deposit 74,097 — 74,097 — Total $ 1,149,880 $ 1,075,783 $ 74,097 $ —

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): As of March 31, 2021 As of December 31, 2020 Leasehold improvements $ 85,303 $ 85,196 Computer equipment, software, and other 22,978 22,275 Furniture and fixtures 9,957 9,976 Construction in progress 710 493 Total property and equipment, gross 118,948 117,940 Less: accumulated depreciation and amortization (91,570) (88,399) Total property and equipment, net $ 27,378 $ 29,541
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): As of March 31, As of December 31, Accrued payroll and related expenses $ 113,513 $ 85,466 Accrued other liabilities 68,090 73,080 Total accrued liabilities $ 181,603 $ 158,546

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of outstanding debt	The Company’s outstanding debt consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 As of December 31, Principal amount $ 200,000 $ 200,000 Unamortized discount (1,815) (2,023) Carrying value of debt $ 198,185 $ 197,977

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Summary of Total Authorized, Issued, And Outstanding Shares	The following represented the total authorized, issued, and outstanding shares for each class of common stock (in thousands): As of March 31, 2021 As of December 31, 2020 Authorized Issued and Authorized Issued and Common stock: Class A 20,000,000 1,792,699 20,000,000 1,542,058 Class B 2,700,000 66,903 2,700,000 249,077 Class F 1,005 1,005 1,005 1,005 Total 22,701,005 1,860,607 22,701,005 1,792,140

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity for the three months ended March 31, 2021 (in thousands, except per share amounts): Options Weighted- Per Share Weighted- Remaining Life (years) Aggregate Intrinsic Value Balance as of December 31, 2020 535,767 $ 6.12 7.99 $ 9,340,245 Options exercised (55,301) 3.78 Options canceled and forfeited (2,889) 5.16 Balance as of March 31, 2021 477,577 $ 6.39 8.08 $ 8,069,476 Options vested and exercisable as of March 31, 2021 259,517 $ 3.67 5.85 $ 5,093,003
Summary of RSU Activity	The following table summarizes the RSU activity for the three months ended March 31, 2021 (in thousands, except per share amounts): RSUs Weighted Average Unvested and outstanding as of December 31, 2020 184,870 $ 6.97 RSUs granted 3,225 38.12 RSUs vested (10,960) 6.84 RSUs canceled (2,612) 6.39 Unvested and outstanding as of March 31, 2021 174,523 $ 7.55
Summary of Stock-Based Compensation Expense	Total stock-based compensation expense was as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 15,977 $ 8,068 Sales and marketing 57,286 18,463 Research and development 37,874 15,032 General and administrative 82,594 12,544 Total stock-based compensation expense $ 193,731 $ 54,107

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Loss Per Share	The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator Net loss attributable to common stockholders $ (123,474) $ (54,274) Less: Change in fair value attributable to participating securities — (7,773) Net loss attributable to common stockholders, for diluted net loss per share $ (123,474) $ (62,047) Denominator Weighted-average shares used in computing net loss per share, basic 1,821,158 591,850 Weighted-average shares used in computing net loss per share, diluted 1,821,158 594,363 Net loss per share Net loss per share attributable to common stockholders, basic $ (0.07) $ (0.09) Net loss per share attributable to common stockholders, diluted $ (0.07) $ (0.10)
Summary of Antidilutive Securities	The following outstanding potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented due to their anti-dilutive effect (in thousands): As of March 31, 2021 2020 Redeemable convertible preferred stock — 4,017 Convertible preferred stock — 791,225 Warrants to purchase redeemable convertible and convertible preferred stock — 18,254 Warrants to purchase common stock 18,253 993 Options and SARs issued and outstanding 477,602 486,342 RSUs outstanding 174,523 175,954 Growth units outstanding — 3,583 Total 670,378 1,480,368

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summary of Financial Information for Each Reportable Segment	Financial information for each reportable segment was as follows (in thousands): Three Months Ended March 31, 2021 2020 Revenue: Government $ 208,420 $ 118,127 Commercial 132,814 111,200 Total revenue $ 341,234 $ 229,327 Three Months Ended March 31, 2021 2020 Contribution: Government $ 131,746 $ 51,897 Commercial 72,543 41,014 Total contribution $ 204,289 $ 92,911
Summary of Reconciliation of Segment Financial Information to Loss from Operations	The reconciliation of contribution to loss from operations is as follows (in thousands): Three Months Ended March 31, 2021 2020 Loss from operations $ (114,014) $ (70,185) Research and development expenses (1) 60,597 50,768 General and administrative expenses (1) 63,975 58,221 Stock-based compensation expense 193,731 54,107 Total contribution $ 204,289 $ 92,911 __________ (1)
Summary of Revenue by Geography	Geographic Information Revenue by geography is based on the customer’s headquarters or agency location at the time of sale. Revenue is as follows (in thousands, except percentages): Three Months Ended March 31, 2021 2020 Amount % Amount % Revenue: United States $ 198,447 58% $ 109,777 48% United Kingdom 34,385 10% 28,975 13% France 21,090 6% 25,730 11% Rest of world (1) 87,312 26% 64,845 28% Total revenue $ 341,234 100% $ 229,327 100% __________ (1)

Significant Accounting Polici_4

Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,339,437	$ 2,011,323	$ 809,530
Restricted cash	37,106	37,285	65,795
Restricted cash, noncurrent	71,933	79,538	237,304
Total cash, cash equivalents, and restricted cash	$ 2,448,476	$ 2,128,146	$ 1,112,629	$ 1,401,962

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Accounts receivable	$ 151,400,000		$ 156,932,000
Allowance for doubtful accounts on trade receivables	$ 0		$ 0
Accounts Receivable [Member] | Customer E [Member]
Percentage Concentration	0.00%
Accounts Receivable [Member] | Customer H [Member]
Percentage Concentration	0.00%
Accounts Receivable [Member] | Customer G [Member]
Percentage Concentration	14.00%	13.00%
Revenue Benchmark [Member] | Customer A [Member]
Percentage Concentration	11.00%
Revenue Benchmark [Member] | Customer F [Member]
Percentage Concentration		12.00%
Minimum [Member] | Revenue Benchmark [Member]
Percentage Concentration	10.00%	10.00%
Maximum [Member] | Accounts Receivable [Member]
Percentage Concentration	10.00%		10.00%
Maximum [Member] | Revenue Benchmark [Member]
Percentage Concentration	0.00%	0.00%

Contract Liabilities and Rema_2

Contract Liabilities and Remaining Performance Obligations - Additional information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 625.9
Performance obligation percentage to be recognised as revenue in the next twelve months	50.00%
Contract with customer, liability	$ 552.4		$ 531.9
Revenue recognized from contract liability balances	$ 169.5	$ 181.2

Fair Value Measurements - Summa

Fair Value Measurements - Summary Of Assets And Liabilities That Are Measured At Fair Value On A Recurring And Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 1,229,912	$ 1,149,880
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,163,796	1,075,783
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	66,116	74,097
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Restricted Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposit	66,116	74,097
Restricted Cash [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposit	0
Restricted Cash [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposit	66,116	74,097
Restricted Cash [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposit	0
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,163,796	1,075,783
Money Market Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,163,796	$ 1,075,783
Money Market Funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Money Market Funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Total property and equipment, gross	$ 118,948	$ 117,940
Less: accumulated depreciation and amortization	(91,570)	(88,399)
Total property and equipment, net	27,378	29,541
Leasehold improvements [Member]
Total property and equipment, gross	85,303	85,196
Computer equipment, software, and other [Member]
Total property and equipment, gross	22,978	22,275
Furniture and fixtures [Member]
Total property and equipment, gross	9,957	9,976
Construction in progress [Member]
Total property and equipment, gross	$ 710	$ 493

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and related expenses	$ 113,513	$ 85,466
Accrued other liabilities	68,090	73,080
Total accrued liabilities	$ 181,603	$ 158,546

Balance Sheet Components - Addi

Balance Sheet Components - Additional information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Depreciation And Amortisation Expense Excluding The Impact Of Foreign Exchange Fluctuations	$ 3.2	$ 3.7

Equity Method Investments - Add

Equity Method Investments - Additional information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Service Credit Utilized		$ 6.7	$ 0.3
Palantir Technologies Japan, K.K. [Member]
Schedule of Equity Method Investments [Line Items]
Number of shares purchased	100,000
Payments made to acquire equity method investments	$ 25
Equity method investment ownership percentage	50.00%
Palantir Technologies Japan, K.K. [Member] | License and Service [Member]
Schedule of Equity Method Investments [Line Items]
License and services agreement Term	10 years
Palantir Technologies Japan, K.K. [Member] | Service Credit [Member]
Schedule of Equity Method Investments [Line Items]
Service Credit recognition expiry period	5 years
Palantir Technologies Japan, K.K. [Member] | Usage Of Trademark [Member] | License and Service [Member]
Schedule of Equity Method Investments [Line Items]
Amount received in exchange for usage of trademark				$ 25
Prepayment Amount received				50
Deferred revenue				$ 25
SOMPO [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership percentage	50.00%

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Principal amount	$ 200,000	$ 200,000
Unamortized discount	(1,815)	(2,023)
Carrying value of debt	$ 198,185	$ 197,977

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 30, 2014	Mar. 31, 2021	Dec. 31, 2020
Long-term Debt [Line Items]
Debt instrument carrying amount		$ 200,000	$ 200,000
2014 Revolving Credit Facility [Member]
Long-term Debt [Line Items]
Line of credit facility variable interest rate description		London Interbank Offered Rate (“LIBOR”) plus a margin of 2.75%
Line of credit facility commitment fee percentage	0.375%
Line of credit maturity date		Jun. 4, 2023
Undrawn revolving credit facility amount		$ 200,000
2014 Revolving Credit Facility [Member] | Minimum [Member]
Long-term Debt [Line Items]
Line of credit minimum liquidity to be maintained		50,000
2014 Revolving Credit Facility [Member] | Term Loan [Member]
Long-term Debt [Line Items]
Debt instrument carrying amount		$ 0
2014 Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt [Line Items]
Line of credit facility variable interest rate spread		2.75%
Line of credit facility variable interest rate description	London Interbank Offered Rate (“LIBOR”) plus a margin of 2.75%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Mar. 30, 2021	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Letter of credit outstanding amount				$ 0	$ 116.8
Lilium Hold Co [Member] | Contingent Of Proposed Business Combination between Qell Lilium Hold Co and Lilium GmbH [Member] | Common Class A [Member]
Loss Contingencies [Line Items]
Number of shares purchased	4.1
Total purchase price	$ 41
subscription contract term	5 years
Purchase Commitment One [Member]
Loss Contingencies [Line Items]
Minimum annual commitment			$ 1,490
Long-term Purchase Commitment, Description			If the difference is greater than $30.0 million for each of the first three contract years or $50.0 million for each of the contract years thereafter (“relief amounts”), the Company has the option to pay the respective relief amount for that year for services to be utilized in the future and the excess amount of the difference above the relief amount would be added to the minimum annual commitment of the following year through the end of the contract.
Satisfied purchase commitment				111.2
Purchase Commitment For Contract Year One				126
Purchase Commitment Two [Member]
Loss Contingencies [Line Items]
Minimum annual commitment		$ 45
Satisfied purchase commitment				$ 4.4

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Total Authorized, Issued, And Outstanding Shares (Detail) - shares	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common stock, shares authorized	22,701,005,000	22,701,005,000
Common stock, shares issued	1,860,607,000	1,792,140,000
Common stock, shares outstanding	1,860,607,000	1,792,140,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized	20,000,000,000	20,000,000,000
Common stock, shares issued	1,792,699,000	1,542,058,000
Common stock, shares outstanding	1,792,699,000	1,542,058,000
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized	2,700,000,000	2,700,000,000
Common stock, shares issued	66,903,000	249,077,000
Common stock, shares outstanding	66,903,000	249,077,000
Common Class F [Member]
Class of Stock [Line Items]
Common stock, shares authorized	1,005,000	1,005,000
Common stock, shares issued	1,005,000	1,005,000
Common stock, shares outstanding	1,005,000	1,005,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	Sep. 30, 2020	Mar. 31, 2021
Minimum ownership threshold		100,000,000
Common Class B [Member]
Number of shares exchanged	1,005,000
Common Class B [Member] | Redeemable Convertible Preferred Stock [Member]
Number of shares issued for conversion	4,017,378
Common Class B [Member] | Convertible preferred stock [Member]
Number of shares issued for conversion	793,725,807
Common Class F [Member]
Voting power		50.00%

Stock-Based Compensation - Add

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 06, 2020	Nov. 30, 2016	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Common shares issuable upon full vesting of the growth units	1.5
Unrecognized share based compensation expense			$ 0
Unrecognized share based compensation expense, period for recognition			8 years 1 month 2 days
Stock-based compensation			$ 193,731	$ 54,107
Employee Director [Member]
Stock-based compensation					$ 4,500
Employee Director [Member] | Non Recourse Promissory Notes [Member]
Percentage of fixed interest		1.50%
Debt instrument, face amount		$ 25,900
Settlement of Employee Loan	$ 26,600
Stock repurchased and retired during period, shares	3.5
Debt instrument decrease forgiveness	$ 800
Employee Director [Member] | Non Recourse Promissory Notes [Member] | Pledged Collateral [Member]
Number of common stock held as collateral		10.5
Restricted Stock Units (RSUs) [Member]
Unrecognized share based compensation expense			$ 850,800
Unrecognized share based compensation expense, period for recognition			3 years 3 months 18 days
Growth units [Member]
Unrecognized share based compensation expense			$ 3,600
Stock-based compensation			$ 1,200

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Beginning Balance of Options Outstanding	535,767,000
Options exercised	(55,301,000)
Options canceled and forfeited	(2,889,000)
Ending Balance of Options Outstanding	477,577,000	535,767,000
Options vested and exercisable as of March 31, 2021	259,517,000
Beginning Balance of Weighted-Average Exercise Price Per Share	$ 6.12
Options exercised	3.78
Options canceled and forfeited	5.16
Ending Balance of Weighted-Average Exercise Price Per Share	6.39	$ 6.12
Options vested and exercisable as of March 31, 2021	$ 3.67
Weighted- Average Remaining Contractual Life (years)	8 years 29 days	7 years 11 months 26 days
Options vested and exercisable as of March 31, 2021	5 years 10 months 6 days
Beginning Balance of Aggregate Intrinsic Value		$ 9,340,245
Ending Balance of Aggregate Intrinsic Value	$ 8,069,476
Options vested and exercisable as of March 31, 2021	$ 5,093,003

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Detail) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested and Outstanding Beginning Balance | shares	184,870,000
RSUs granted | shares	3,225,000
RSUs vested | shares	(10,960,000)
RSUs canceled | shares	(2,612,000)
Unvested and Outstanding Ending Balance | shares	174,523,000
Weighted Average Grant Date Fair Value per Share Beginning Balance | $ / shares	$ 6.97
RSUs granted | $ / shares	38.12
RSUs vested | $ / shares	6.84
RSUs canceled | $ / shares	6.39
Weighted Average Grant Date Fair Value per Share Ending Balance | $ / shares	$ 7.55

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 193,731	$ 54,107
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	15,977	8,068
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	57,286	18,463
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	37,874	15,032
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 82,594	$ 12,544

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Provision for income taxes	$ 3,102	$ 2,557

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Summary of Calculation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator
Net loss attributable to common stockholders	$ (123,474)	$ (54,274)
Less: Change in fair value attributable to participating securities	0	(7,773)
Net loss attributable to common stockholders, for diluted net loss per share	$ (123,474)	$ (62,047)
Denominator
Weighted-average shares used in computing net loss per share, basic	1,821,158	591,850
Weighted-average shares used in computing net loss per share, diluted	1,821,158	594,363
Net loss per share
Net loss per share attributable to common stockholders, basic	$ (0.07)	$ (0.09)
Net loss per share attributable to common stockholders, diluted	$ (0.07)	$ (0.10)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Summary of Antidilutive Securities (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	670,378	1,480,368
Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	4,017
Convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	791,225
Warrants to purchase redeemable convertible and convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	18,254
Warrants to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	18,253	993
Options and SARs issued and outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	477,602	486,342
RSUs outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	174,523	175,954
Growth units outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	3,583

Segment and Geographic Inform_3

Segment and Geographic Information - Summary of Financial Information for Each Reportable Segment (Detail) - Operating Segments [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 341,234	$ 229,327
Contribution	204,289	92,911
Government [Member]
Segment Reporting Information [Line Items]
Revenues	208,420	118,127
Contribution	131,746	51,897
Commercial [Member]
Segment Reporting Information [Line Items]
Revenues	132,814	111,200
Contribution	$ 72,543	$ 41,014

Segment and Geographic Inform_4

Segment and Geographic Information - Summary of Reconciliation of Segment Financial Information to Loss from Operations (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Stock-based compensation expense		$ 193,731	$ 54,107
Loss from operations		(114,014)	(70,185)
Reconciling items
Segment Reporting Information [Line Items]
Research and development expenses	[1]	60,597	50,768
General and administrative expenses	[1]	63,975	58,221
Stock-based compensation expense		193,731	54,107
Operating Segments
Segment Reporting Information [Line Items]
Contribution		$ 204,289	$ 92,911
[1]	Excludes stock-based compensation expense.

Segment and Geographic Inform_5

Segment and Geographic Information - Summary of Revenue by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 341,234	$ 229,327
Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 341,234	$ 229,327
Concentration risk, percentage	100.00%	100.00%
United States [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 198,447	$ 109,777
Concentration risk, percentage	58.00%	48.00%
United Kingdom [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 34,385	$ 28,975
Concentration risk, percentage	10.00%	13.00%
France [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 21,090	$ 25,730
Concentration risk, percentage	6.00%	11.00%
Rest of world [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 87,312	$ 64,845
Concentration risk, percentage	26.00%	28.00%

Segment and Geographic Inform_6

Segment and Geographic Information - Summary of Revenue by Geography (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue Benchmark [Member] | Minimum [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	10.00%	10.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	May 11, 2021	May 05, 2021	May 01, 2021	Apr. 05, 2021	Apr. 01, 2021	Mar. 31, 2021
2014 Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Undrawn revolving credit facility amount						$ 200
Subsequent Event [Member] | 2014 Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Line of credit outstanding					$ 0
Debt Instrument, Periodic Payment, Principal					200
Subsequent Event [Member] | 2014 Revolving Credit Facility [Member] | Incremental Credit Facility [Member]
Subsequent Event [Line Items]
Undrawn revolving credit facility amount					200
Subsequent Event [Member] | Amended 2014 Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Debt instrument maximum borrowing capacity					400
Subsequent Event [Member] | Amended 2014 Revolving Credit Facility [Member] | Term Loan [Member] | Incremental Credit Facility [Member]
Subsequent Event [Line Items]
Undrawn revolving credit facility amount					$ 100
Common Class A [Member] | Rotor Acquisition Corp [Member] | Subsequent Event [Member] | Contingent of Proposed Business Combination between Rotor Rotor Merger Sub Corp and Sarcos Corp [Member]
Subsequent Event [Line Items]
Number of shares purchased				2.1
Total purchase price				$ 21
Subscription contract term				6 years
Common Class A [Member] | Montes Archimedes Acquisition Corp and Roivant Sciences Ltd [Member] | Subsequent Event [Member] | Contingent Of Proposed Business Combination Between Montes Roivant and other applicable parties [Member]
Subsequent Event [Line Items]
Number of shares purchased			3
Total purchase price			$ 30
Subscription contract term			5 years
Common Class A [Member] | GX Acquisition Corp [Member] | Subsequent Event [Member] | Contingent Of Proposed Business Combination Between GX Celularity Inc and other applicable parties [Member]
Subsequent Event [Line Items]
Number of shares purchased		2
Total purchase price		$ 20
Subscription contract term		5 years
Common Class A [Member] | Switchback II Corporation [Member] | Subsequent Event [Member] | Contingent Of Proposed Business Combination Between Bird Rides Inc and other applicable parties [Member]
Subsequent Event [Line Items]
Number of shares purchased	2
Total purchase price	$ 20
Subscription contract term	5 years