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Anduril and Palantir both sell technology to defense and government customers, but they are not the same kind of company. Palantir is primarily an enterprise software vendor: Foundry, Gotham and AIP organize data, analytics and artificial-intelligence workflows. Anduril is a private defense-technology company that combines autonomous vehicles, sensors, other field hardware and software such as Lattice Mesh. They can compete for the same national-security budgets, yet their products are also designed to work together.
The fairest comparison therefore separates product type, buyer, deployment, revenue model and disclosure quality. Palantir’s audited 2024 revenue was $2.9 billion from 711 customers. Anduril’s 2024 revenue was reported at approximately $1 billion, but the company is private and does not publish a directly comparable SEC reporting package.
What does Palantir sell?
Palantir’s core deliverable is software that turns fragmented organizational data into governed applications and operational decisions. Its principal platforms address different environments, although deployments can connect them.
Foundry: enterprise data and operations
Foundry is Palantir’s enterprise data and operations platform. It is intended to connect data from business systems, sensors and other sources, model the relationships among those data, and provide applications for planning and execution. The emphasis is not simply on storing data; it is on making data usable by teams that need to act on it.
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Palantir’s 2024 filing gives examples of work across utility operations, automotive manufacturing, oil and gas, pharmaceuticals, supply chains and public health. Those examples show why Foundry is relevant outside defense: the buyer may be an operations, supply-chain, engineering or public-sector team rather than an intelligence organization.
Gotham: government, defense and intelligence workflows
Gotham is oriented toward government, defense and intelligence use cases. It supports workflows in which analysts and operators must combine information from multiple sources, work under access controls and coordinate actions in a mission context. Gotham is software, even when it is connected to military systems or sensor feeds.
AIP: governed generative-AI applications
AIP connects generative-AI models to an organization’s governed data and workflows. In practical terms, it is intended to let an institution use large language models or other generative models without treating the model as an uncontrolled interface to sensitive systems. Permissions, data context and workflow controls remain central to the deployment.
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How Palantir delivers the software
Palantir’s 2024 Form 10-K describes three revenue components: subscriptions to hosted software in Palantir Cloud with ongoing operations and maintenance services; software subscriptions running in a customer’s environment with ongoing operations and maintenance; and professional services. That means Palantir can deliver a cloud-hosted service, install software on premises or in another customer-controlled environment, and charge for implementation and related expertise.
Palantir also uses pilots and AIP bootcamps to demonstrate a workflow, establish value in a real operating environment and expand deployments that succeed. The company identifies complex data environments, high installation costs and long sales cycles as barriers to entry. A buyer should therefore expect a substantial implementation effort rather than a self-serve application that can be turned on in an afternoon.
What does Anduril sell?
Anduril’s offering is a defense capability rather than a standalone business-data platform. The company combines physical systems, sensors, autonomy and command software for national-security missions.
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Hardware in the field
Anduril develops and manufactures defense systems that can be deployed outside a data center. Depending on the program, that can include autonomous vehicles, counter-drone or air-defense equipment, surveillance systems and other mission hardware. The important distinction is that the hardware is part of the product and the operational result, not merely an input to a software subscription.
Lattice Mesh and mission software
Lattice Mesh is Anduril’s software layer for connecting sensors, systems and autonomous capabilities. It is designed to provide a common operational picture and coordinate actions across distributed defense assets. In a defense program, that can mean ingesting sensor data, identifying objects, assigning systems and supporting an operator’s decision.
Anduril’s value proposition therefore spans sensing, autonomy, communications, command software and the physical systems that perform a mission. A customer is buying an integrated capability that can be fielded, maintained and upgraded, not just access to an enterprise analytics environment.
Product comparison at a glance
| Comparison point | Palantir | Anduril |
|---|---|---|
| Primary product | Enterprise and government software platforms: Foundry, Gotham and AIP | Defense systems combining hardware, sensors, autonomy and software such as Lattice Mesh |
| Typical operational role | Data integration, analytics, applications, AI-assisted decisions and workflow execution | Detection, sensing, autonomous operation, command and control, and physical mission effects |
| Deployment | Hosted Palantir Cloud or software in a customer-controlled environment, with operations and maintenance | Fielded systems and mission software integrated into defense networks and equipment |
| Hardware exposure | Limited relative to a defense-system manufacturer; the core offering is software and services | High; hardware development, manufacturing, logistics and sustainment are central |
| Commercial-sector reach | Material commercial business alongside government work | Publicly described customer base is concentrated in U.S. and allied defense, border and national-security institutions |
| Public financial disclosure | Public company with audited SEC filings | Private company; publicly reported figures are not presented in the same audited format |
Who are their customers?
Palantir’s customer base
Palantir reported 711 customers as of December 31, 2024. Those customers include government agencies and commercial organizations worldwide. Its filing cites utility operations, automotive manufacturing, oil and gas, pharmaceuticals, supply chains, public health and military users, illustrating a broader mix than a defense-only contractor.
Government customers supplied 55% of Palantir’s 2024 revenue, while commercial customers supplied 45%. By geography, 66% of revenue came from customers in the United States and 34% from outside the United States. These percentages are revenue shares for 2024, not counts of customers or a forecast of future mix.
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Anduril’s customer base
Anduril’s publicly described customers are concentrated in U.S. and allied defense, border and national-security institutions. Its programs are generally purchased through government procurement and defense partnerships rather than through a broad commercial software-sales channel.
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No comparable public customer-count table was available for Anduril. It is therefore not accurate to place a specific Anduril customer number beside Palantir’s 711 and imply that the figures were measured the same way. Anduril’s December 2024 consortium announcement with Palantir is evidence of its national-security orientation, but it is not a complete customer census.
How Palantir makes money
Palantir sells long-duration software relationships. The contractual unit may be a subscription to Palantir Cloud, an on-premises software subscription with ongoing operations and maintenance, or a professional-services engagement supporting deployment and expansion.
Land, prove and expand
A typical commercial pattern is to begin with a focused deployment or pilot, demonstrate that a team can use the platform on a consequential workflow, and then extend the software to more users, data domains or business units. AIP bootcamps are one way Palantir demonstrates generative-AI workflows. This approach can create an expanding relationship, but it also requires the customer to commit staff, data access and operational sponsorship.
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Palantir reported $2.9 billion in revenue for 2024. At December 31, 2024, its total remaining deal value was $5.4 billion. Remaining deal value is a measure of contracted future business, not revenue already recognized and not a guarantee that every dollar will be recognized at once.
Because Palantir is public, these figures come from its audited public-company reporting. They can be examined alongside disclosures about customers, geography and government-versus-commercial revenue, subject to the definitions in the filing.
How Anduril makes money
Anduril’s model is closer to a modern defense prime. It competes for government programs, develops and manufactures systems, integrates them into mission environments, and provides the software and support needed to operate them.
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Program awards and delivered capability
Revenue can arise as Anduril delivers hardware, software, integration and sustainment under government contracts. The economic profile is consequently affected by production schedules, acceptance milestones, manufacturing capacity, program requirements and follow-on support. It should not be analyzed as though every dollar were a recurring software subscription.
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Anduril’s 2024 revenue was reported at approximately $1 billion by Axios in 2025, and approximately $1.5 billion in total contract value was also reported. Those figures indicate substantial scale, but they are not presented in Palantir’s audited segment format. “Contract value” is not interchangeable with one year of recognized revenue.
In 2025, Anduril raised $2.5 billion at a reported $30.5 billion valuation. That was a financing event and a valuation reference, not operating revenue. A company can raise capital to expand production or research without the amount raised appearing as sales.
Where the companies overlap—and where they do not
The overlap
Both companies pursue defense and government technology budgets involving artificial intelligence, command and control, sensor data and mission software. A procurement team could encounter both in a program that needs a common operating picture, automated analysis or integration across systems.
The practical difference
Palantir’s core question is: how should an organization connect its data, govern access and turn information into repeatable decisions and workflows? Anduril’s core question is: how should a defense system sense, decide and act in a contested physical environment?
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Those questions can be part of the same program, but they lead to different buying criteria. Palantir is evaluated heavily on data integration, security controls, software deployment and user adoption. Anduril is also evaluated on system performance, reliability in the field, manufacturing, logistics, autonomy and mission integration.
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The December 2024 consortium
In a December 2024 announcement, Anduril and Palantir described integrating Anduril’s Lattice Mesh with Palantir systems to accelerate national-security artificial-intelligence capabilities. The announcement is direct evidence that the companies can be technology partners. It also illustrates why calling Anduril simply a Palantir competitor is incomplete: they may compete for portions of a budget while contributing different layers to the same mission architecture.
Which company is bigger?
On the best-documented 2024 revenue measure, Palantir was larger: $2.9 billion in audited revenue versus approximately $1 billion reported for Anduril. Palantir also disclosed 711 customers and $5.4 billion in total remaining deal value at the end of 2024.
That is not a complete ranking of corporate strength. Anduril is private, so its revenue, contract-value and operating disclosures are less standardized. Its reported $1.5 billion contract value and 2025 financing at a reported $30.5 billion valuation describe different concepts from Palantir’s revenue and remaining deal value. They should not be added together or treated as equivalent scorecard entries.
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| Axis | Palantir | Anduril |
|---|---|---|
| Company type | Public software company | Private defense-technology company |
| Core buyer | Government agencies, defense and intelligence organizations, and commercial enterprises | U.S. and allied defense, border and national-security institutions |
| Primary contract | Hosted or on-premises software subscription, operations and maintenance, plus professional services | Government program for hardware-plus-software capability, integration and support |
| Revenue visibility | Audited public-company reporting; 2024 revenue of $2.9 billion | Private-company reporting; 2024 revenue reported at approximately $1 billion |
| 2024 customer disclosure | 711 customers at December 31, 2024 | Comparable count not publicly stated |
| 2024 customer mix | 55% government and 45% commercial revenue | Comparable audited split not publicly stated |
| Geographic disclosure | 66% of 2024 revenue from U.S. customers and 34% from customers outside the United States | Comparable audited geographic split not publicly stated |
| Hardware role | Not the central product; software can consume data from operational systems | Central to the offering, alongside autonomy, sensors and software |
| Contract duration | Long-duration software relationships and remaining deal value | Program-based awards, production, delivery and sustainment; exact comparable duration not stated |
How to decide which company fits a program
Choose a Palantir-centered approach when the problem is data and workflow fragmentation
- Your organization has many disconnected systems and needs a governed data model.
- Users need applications for planning, operations, supply chains, analytics or public-sector casework.
- You need hosted and customer-controlled deployment options with ongoing operations and maintenance.
- The immediate value is better decisions and workflow execution rather than a new physical platform.
Consider an Anduril-centered approach when the problem is a fielded defense capability
- The mission requires sensors, autonomous systems or other equipment deployed in the physical world.
- Procurement includes manufacturing, integration, logistics, sustainment and operator training.
- The program needs command software tightly connected to the systems performing the mission.
- The buyer is a defense, border or national-security institution rather than a general commercial department.
Expect a combined architecture when both layers are required
A defense organization may use Anduril systems to collect information and perform mission functions while using Palantir software to integrate data, govern access, analyze activity and coordinate broader organizational workflows. The December 2024 consortium shows that this is not merely theoretical. The right evaluation question is then which interfaces, permissions, security boundaries and responsibilities each vendor will own.
Questions to ask during procurement
- What exactly is being purchased? Separate software subscriptions, professional services, hardware units, integration work and sustainment.
- Where will the system run? Confirm cloud, on-premises or other customer-controlled requirements, including disconnected or restricted environments where relevant.
- What data can be connected? Inventory source systems, sensor feeds, classifications, identity controls and retention rules before promising an AI workflow.
- What is the acceptance test? Define measurable operational outcomes, delivery milestones and who signs off on a fielded capability.
- How does expansion work? Clarify user, data-volume, site, unit and hardware-delivery limits rather than assuming an initial pilot includes unlimited growth.
- Who maintains the system? Assign responsibilities for software updates, model governance, cybersecurity, hardware repair, spares and operator support.
- Which figures are comparable? Keep audited revenue, reported estimates, total contract value, remaining deal value and financing valuation in separate columns.
Important limits on the comparison
There is no published statistic in the cited material that directly ranks the two companies by product performance, margins or contract win rate. A larger revenue number does not establish that one platform is technically superior for a particular mission.
Palantir’s 711-customer count, revenue mix and remaining deal value are defined within its public-company reporting. Anduril’s approximate revenue and contract-value figures are public reports about a private company, not a standardized filing that mirrors Palantir’s disclosures. No exact Anduril customer count, audited segment split or equivalent backlog table should be inferred from the available figures.
The most defensible conclusion is therefore categorical rather than absolute: Palantir is the larger and more transparently reported software business on the 2024 figures available, while Anduril is a significant private defense-technology supplier whose scale cannot be measured on exactly the same basis.
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