(May 11) Palantir Technologies Inc. today announced financial results for the first quarter ended March 31, 2021.
- Palantir Technologies : Q1 Non-GAAP EPS of $0.04 in-line; GAAP EPS of -$0.07beats by $0.01.
- Revenue of $341M (+48.7% Y/Y)beats by $8.69M.
- Q1 adjusted operating margin of 34% vs. a guidance of 23%.
- Cash flow from operations of $117 million, up $404 million year-over-year, and representing a 34% margin
- Adjusted free cash flow of $151 million, up $441 million year-over-year, and representing a 44% margin.
- For Q2 2021, PLTR expects $360 million in revenue (consensus: $342.89M) and Adjusted operating margin of 23%.
Palantir stock falls nearly 5% premarket after Q1 results.
Q1 2021 Highlights
- Total revenue grew 49% year-over-year to $341 million
- US commercial revenue grew 72% year-over-year
- US government revenue grew 83% year-over-year
- Cash flow from operations of $117 million, up $404 million year-over-year, and representing a 34% margin
- Adjusted free cash flow of $151 million, up $441 million year-over-year, and representing a 44% margin
- GAAP net loss per share, diluted of $(0.07)
- Adjusted earnings per share, diluted of $0.04
Outlook
For Q2 2021, we expect:
- $360 million in revenue, representing year-over-year revenue growth of 43%.
- Adjusted operating margin of 23%.
For full year 2021, we expect:
- Adjusted free cash flow in excess of $150 million.
Per long-term guidance policy, as provided by our Chief Executive Officer,Alex Karp, we continue to expect:
- Annual revenue growth of 30% or greater for 2021 through 2025.