Palantir Technologies Inc.

Morning. Welcome to Palantir's second quarter 2021 earnings call. We'll be discussing the results announced in our press release issued prior to the market open and posted on our investor relations website. During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our third quarter and fiscal 2021, management's expectations for our future financial and operational performance, and other statements regarding our plans, prospects, and expectations. These statements are not promises or guarantees and are subject to risks and uncertainties which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed prior to market open today and in our SEC filings. We undertake no obligation to update forward-looking statements except as required by law. Further, during the course of today's call, we will refer to certain adjusted financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, GAAP measures. Additional information about these non-GAAP measures, including reconciliation of non-GAAP to comparable GAAP measures, is included in our press release and investor presentation provided today. Our press release, investor presentation, and SEC filings are available on our investor relations website at investors.palantir.com. Joining me on today's call are Shyam Sankar, Chief Operating Officer, Dave Glazer, Chief Financial Officer, and Kevin Kawasaki, Global Head of Business Development. Over the course of the call, we will refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated. I'll turn the call over to Shyam to get us started.

Thank you, Rodney. Before diving into results, I'd like to share a bit of our latest product innovation, something that we deployed at the Global Information Dominance Experiments Guide 3 last month. We call it the metaconstellation, and it's radically changing how satellites are tasked, the latency of collection, and it's creating a fundamental link in that AI-enabled decision chain. Overnight, we orchestrated a metaconstellation of 237 satellites by working with an array of commercial space companies. These companies, they've been deploying constellations of hyperspectral, radar, and ELIT sensors into orbit. And we are putting all of that power directly into the hands of the front lines, empowering the edge. It's one of the largest collaborative sensor constellations ever to see operational use. Here to show us more is Shannon, who has led our work defining and building the AI-enabled decision chain.

Palantir's MetaConstellation software harnesses the power of growing satellite constellations, deploying AI into space to provide insights to decision makers here on Earth. Our metaconstellation integrates with existing satellites, optimizing hundreds of orbital sensors and AI models, and allowing users to ask time-sensitive questions across the entire planet. Important questions like, where are there indicators of wildfires? Or, how are climate changes affecting crop productivity? And, when and where are naval fleets conducting operations? MetaConstellation pushes Palantir's Edge AI technology to a new frontier. As we all know, submarines present threats to the US and its allies. And to protect strategic interests, allied forces need to track every submarine's deployment around the world. And at the forefront of this challenge are anti-submarine warfare officers. They turn to MetaConstellation to monitor ports across the Pacific. Let me show you a little bit about what that looks like. In response to allied monitoring requests, MetaConstellation dynamically determines which orbiting sensors are available. Integrated through Palantir, the constellations then collaboratively schedule coverage over each port. Meanwhile, Apollo for Edge AI assigns tailored AI micro models to each satellite. Running on board the satellite, the models will automatically find submarines and stream those insights directly to users. With the mission planned, Apollo automatically reconfigures each of the satellites, pushing the right micromodels into orbit. And as a software payload on board, Palantir's Edge AI platform connects complex satellite subsystems to models integrating new AI with the hardware. The best part, my favorite part, is that as it orbits, the Edge AI platform hot swaps the right micro models in, rapidly reconfiguring the satellite. The models process imagery, they detect submarines, geolocate them, and then determine any movement since the last collection pass, all in under a second. When the AI sees a submarine movement, that insight is directly downlinked to Allied forces as the satellite passes overhead, and the anti-submarine warfare officers are notified in just minutes, empowering them to respond in a way that we've never seen before. As you can tell, we're really excited about Palantir's Metaconstellation, and see it as the software that brings hundreds of satellites to bear on your hardest problems. Whether it's the anti-submarine warfare officer that I just described using it to find submarines or first responders leveraging AI to spot wildfire signs. MetaConstellation is there to empower users.