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Mar 31, 2024
Palantir Q1 2024 Earnings Report
Palantir reported revenue growth and achieved its sixth consecutive quarter of GAAP profitability.
Key Takeaways
Palantir's Q1 2024 showed strong performance with a 21% year-over-year revenue increase, reaching $634 million. The company achieved GAAP profitability for the sixth consecutive quarter, with a net income of $106 million and EPS of $0.04. US commercial sector was a key driver, growing 40% year-over-year.
GAAP net income was $106 million, a 17% margin, marking the sixth consecutive quarter of GAAP profitability.
Revenue increased by 21% year-over-year to $634 million.
US commercial revenue grew by 40% year-over-year to $150 million.
Adjusted income from operations was $226 million, representing a 36% margin.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Palantir anticipates revenue between $649 - $653 million for Q2 2024 and has raised its full year 2024 revenue guidance to $2.677 - $2.689 billion. They also raised US commercial revenue guidance to in excess of $661 million and adjusted income from operations guidance to between $868 – $880 million.
Positive Outlook
- Q2 2024 revenue is expected to be between $649 - $653 million.
- Full year 2024 revenue guidance is raised to between $2.677 – $2.689 billion.
- US commercial revenue guidance is raised to in excess of $661 million, representing a growth rate of at least 45%.
- Adjusted income from operations guidance is raised to between $868 – $880 million.
- The company expects GAAP operating income and net income in each quarter of this year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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