Palantir reported full year 2025 results on Feb 2. Revenue grew 56% year over year to $4.5 billion, driven largely by the US commercial segment which was up 109%. The company is profitable with $1.6 billion in net income and strong free cash flow. The valuation is the main talking point now. It is trading at a price-to-sales ratio of 103, which is significantly higher than other software peers. Analysts see a trillion-dollar market opportunity here, but the stock is expensive at these levels.