Palantir could lose $9M in annual sales from Fast Radius. says William Blair

Fast Radius (FSRD), a startup provider of advanced manufacturing services based in Chicago, filed for bankruptcy last week, news that most Palantir Technologies (PLTR) investors missed, William Blair analyst Kamil Mielczarek tells investors in a research note. Fast Radius is one of the 21 publicly traded companies for which Palantir provided PIPE equity funding in connection with the recipients of the funding signing multiyear software license agreements with Palantir, says the analyst. Mielczarek sees the potential that Fast Radius’s estimated $9M annual revenue contribution goes away if the company stops paying Palantir. Beyond Fast Radius, there is the potential for downside pressure if other strategic investments falter, writes the analyst. Mielczarek expects Palantir shares to trend lower over the next 12 months on growth and margin pressure, with potential downside to $5 to $6 per share. The analyst keeps an Underperform rating on the name.