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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.
Palantir
Palantir
Palantir Revenue by Segment
Palantir Revenue by Geographic Location
Revenue by Segment
Commercial Revenue
CapyFin.comGovernment Revenue
CapyFin.comRevenue by Geographic Location
U.S. Commercial Revenue
CapyFin.comU.S. Government Revenue
CapyFin.com 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