Hot Stock Palantir Technologies Gets Hotter After Q2 Earnings, Q3 Outlook

Benzinga2021-08-12
  • Palantir Technologies Inc (NYSE:PLTR) reported second-quarter FY21 revenue growth of 49% year-on-year to $375.6 million, beating the analyst consensus of $353.23 million.
  • Revenue Drivers: U.S. commercial revenue grew 90% Y/Y. Palantir added 20 customers, growing 13% Q/Q. Commercial customer count increased 32% Q/Q.
  • Palantir closed 62 deals of $1 million or more, of which 30 contracts were worth $5 million or more and 21 deals at $10 million or above.
  • Margins: The adjusted operating margin expanded 2,000 bps to 31% as the costs rose 52.5% Y/Y. The adjusted EBITDA margin rose 1,900 bps to 32%.
  • Palantir held $2.4 billion in cash and equivalents and generated $23 million in operating cash flow and $50 million in adjusted free cash flow.
  • Adjusted EPS of $0.04 beat the analyst consensus of $0.03.
  • Outlook: Palantir sees Q3 revenue of $385 million above the analyst consensus of $376 million. It considers an adjusted operating margin of 22%.
  • Palantir raised FY21 adjusted free cash flow outlook to $300 million+ from $150 million+.
  • It continues to see annual revenue growth of 30% or greater for 2021 through 2025.
  • Price Action: PLTR shares traded higher by 9.13% at $24.39 in the premarket session on the last check Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • XiaoMing95
    2021-08-13
    XiaoMing95
    Comment and like
  • QArmieeQ
    2021-08-13
    QArmieeQ
    Yes!
  • akw
    2021-08-13
    akw
    Great results
  • Mccoy
    2021-08-13
    Mccoy
    Gaining strength. I prefer a marathon than a sprint for Palantir. Slow and easy wins the race. 
  • Roykhor77
    2021-08-13
    Roykhor77
    And then it crashes again ?
  • egbloper
    2021-08-13
    egbloper
    The next Amazon?
    • Mythology
      Cooool
    • Weewin
      More like A hybrid of Google and softbank/tencenT - Tech monopoly and conGlomerate in one
    • Roykhor77
      Like!
Leave a comment
48