Palantir Technologies Inc PLTR chairman Alexander Karp said at the company Third Quarter Results call that the Peter Thiel-founded companies forecasts an even more challenging macro environment than that which has prevailed over the past two decades.

Why it matters: Karp said: “We have predicted an even more challenging macro environment over the last 20 years.” He said Palantir’s products are built for a “disconnected world.”

The CEO compared the company’s products to prepping — the practice of preparing for a potential catastrophic disaster — and its tools on the conference call.

“We are a prepper company. We prepared for it, it’s like – [preppers] have their backpack and a gun. We have [Palantir Gotham], GAIA, Foundry and $2.4 billion in the bank and no debt. This is our company,” he said.

See also: How to invest in artificial intelligence

Why it matters: Karp said Palantir is prepared, emphasizing that it has eight quarters of free cash flow and no debt.

In what appears to be a slightly veiled excavation of the Metaverse, which is often described as a hybrid of virtual and augmented realities, Karp said, “We didn’t live in the Metasphere. We lived in this world as we thought it would be – and essentially we were.

On Monday, Palantir reported third-quarter earnings per share of 1 cent, missing the Street consensus of 2 cents data from Benzinga.

price action: Palantir shares fell 11.5% to $7.02 in Thursday’s after-hours session after closing 0.85% higher at $7.08 in the regular session Data from Benzinga Pro.

Continue reading: Palantir Plunges Near All-Time Lows: Here’s Why a Bounce Is Likely