A peak into Palantir’s financials

Palantir, the big data government contractor that has also branched out into commercial ventures, filed plans to go public confidentially in July.

Which begged the question: It’s been 16 years since the company was co-founded by Peter Thiel, a much more mature age for a company seeking to go public than most startups. So how much is the company, which was last valued at $20 billion in 2015 and is credited with helping the U.S. military find Osama bin Laden, actually making? 

Well, per some numbers that were circulated privately with investors, it’s still not profitable: Net loss in 2019 numbered at about $580 million on revenue of $742 million. Revenue growth was not as aggressive as those of other companies that have gone public recently, rising 25% from a year earlier. Meanwhile losses, though still huge, have moderated, staying steady compared to 2018, per TechCrunch.

Numbers in 2020 are currently trending in the right direction: Revenue in the first half of the year grew to $481 million, a 49% uptick from the same period a year earlier. That comes as Palantir reportedly told investors to expect $1 billion in revenue this year.

IPO filings are also one to watch out for this week: Snowflake, Unity, and Asana are among those names that could make their filings public in coming days.

Private Equity titans get tangled with the law: On Friday, it was reported that Vista Equity Partners CEO and founder Robert Smith is facing a criminal tax probe from the U.S. Justice Department and the Internal Revenue Services over whether Smith moved assets offshore and thereby failed to pay $200 million in taxes. In a coincidence of timing, and in a completely separate case, the U.S. Virgin Islands plans to issue a subpoena to Apollo Global Management cofounder Leon Black over business dealings with Jeffrey Epstein. Black has previously said that Epstein had no work with Apollo, though Epstein had provided Black with financial advice. That comes amid a larger backdrop and question as to how exactly Epstein made his money. Read more.

Lucinda Shen
Twitter: @shenlucinda
Email: lucinda.shen@fortune.com