Palantir Technologies Inc.

Good morning. Welcome to Palantir's third quarter 2022 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 2022 results, 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. 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. Joining me on today's call are Alex Karp, Chief Executive Officer, Shyam Sankar, Chief Operating Officer, Dave Glazer, Chief Financial Officer, Ryan Taylor, Chief Business Affairs and Legal Officer, and Kevin Kawasaki, Global Head of Business Development. To begin today's call, we'll open with a few highlights from FoundryCon, where you'll hear from Alex as well as representatives from Jacobs, Tyson Foods, Lilium, Apache, Swiss Re, and Space Systems Command.

When you build software products, you try to build them based on the way the world is and the way to transform the world into a better place. I don't think that's optimism or pessimism. I think that's transformism. It's how do we take the business and move it from here to here in a very short period of time. By the way, time. Take the timelines, cut them in half. Or divide them by five. And you want transformation goals that fail, but at a high level. So it's like, oh, you need two years to do this? Great. I want to see it done in two months. This will surface all the problems. And you see one of the reasons special operators are special operators is because the timelines are tight, the budgets are actually thinner. Special operations communities operate with less money and less time and more constraints. And then compare the output.

Once we implemented pushing recommendations to the field staff, we dropped 20% at this particular site. It's a small plant, 20%, still $300,000. in our budget that's direct money for us so this is tremendous generated a lot of interest in the company as you can imagine because we have 300 sites you can do the math our value here is that we've had about 20 different projects we've created over 200 million dollars in value