Earnings

Palantir shares drop more than 13% after earnings

In this article

Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019.
Charles Platiau | Reuters

Shares of Palantir fell more than 13% on Thursday morning after the company reported mixed earnings results for the fourth quarter.

Here are the key numbers:

  • Earnings per share (EPS): 2 cents, adjusted vs 4 cents estimated, according to a Refinitiv survey of analysts
  • Revenue: $433 million vs $418 million estimated, according to Refinitiv

Palantir said it expects $443 million in revenue in Q1, while analysts had been expecting about $439 million, according to Refinitiv. It continues to expect annual revenue growth of 30% or more through 2025.

It reported a net loss of $156.19 million in the quarter, greater than the $148.34 million net loss it saw in Q4 2020.

The software company, known for its work with government agencies, said it grew government revenue 26% year-over-year and added 34 net new customers in Q4.

It also said it closed 64 deals in the quarter of $1 million or more, including 27 of which were at least $5 million and 19 of which were at least $10 million.

Palantir expanded its commercial business throughout 2021, growing commercial revenue 34% year-over-year to $645 million. U.S. commercial revenue alone grew 102% year-over-year while increasing U.S. commercial customer count 4.7x to 80 customers.

Government revenue grew 47% to $897 million in 2021.

Subscribe to CNBC on YouTube.

WATCH: Palantir CFO describes the seven-year journey to bring the company public

Products You May Like

Articles You May Like

Advice for Handling Retiring During a Financial Downturn
Stocks making the biggest moves after hours: Coinbase, Sweetgreen, Roblox and more
New York Times stock jumps after activist investor ValueAct reveals 6.7% stake
Stocks making the biggest moves midday: Bed Bath & Beyond, AMC, First Solar, Palantir and more
Spirit Airlines posts loss on surge in costs, expects Florida challenges to continue

Leave a Reply

Your email address will not be published.