Palantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024

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Palantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024

Business Wire05-07

DENVER, May 06, 2024--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2024. Q1 2024 Highlights GAAP net income of $106 ...

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(NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2024.\nQ1 2024 Highlights\n\nGAAP net income of $106 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/palantir-reports-revenue-growth-21-200500064.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-07 04:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/palantir-reports-revenue-growth-21-200500064.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DENVER, May 06, 2024--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2024.\nQ1 2024 Highlights\n\nGAAP net income of $106 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/palantir-reports-revenue-growth-21-200500064.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PLTR","symbol_name":"Palantir Technologies Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/palantir-reports-revenue-growth-21-200500064.html","article_id":"2433233037","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/HJd1r5hTWVjGmQXuzoGzfw--~B/aD02MzQ7dz0yNTYwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/9a640fce11ec78bbc1fe792498f17b9a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433233037","pubTimestamp":1715025900,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"DENVER, May 06, 2024----Palantir Technologies Inc.  today announced financial results for the first quarter ended March 31, 2024.GAAP net income of $106 million, representing a 17% margin. GAAP income from operations of $81 million, representing a 13% margin. Revenue grew 21% year-over-year and 4% quarter-over-quarter to $634 million. US commercial revenue grew 40% year-over-year and 14% quarter-over-quarter to $150 million. US commercial customer count grew 69% year-over-year and 19% quarter-over-quarter to 262 customers. US commercial remaining deal value  grew 74% year-over-year and 14% quarter-over-quarter. Commercial revenue grew 27% year-over-year and 5% quarter-over-quarter to $299 million. Government revenue grew 16% year-over-year and 3% quarter-over-quarter to $335 million. US government revenue grew 12% year-over-year and 8% quarter-over-quarter to $257 million. Customer count grew 42% year-over-year and 11% quarter-over-quarter. Adjusted income from operations of $226 milli","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"translate_title":"Palantir报告收入同比增长21%，连续第六个季度实现GAAP盈利能力；Q1 2024年GAAP每股收益0.04美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLTR":1},"content_text":"DENVER, May 06, 2024--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2024.\nQ1 2024 Highlights\n\nGAAP net income of $106 million, representing a 17% margin\n  \nSixth consecutive quarter of GAAP profitability\n\nGAAP income from operations of $81 million, representing a 13% margin\n  \nFifth consecutive quarter of GAAP operating profitability\n\nGAAP earnings per share (\"EPS\") of $0.04\nAdjusted EPS of $0.08\nRevenue grew 21% year-over-year and 4% quarter-over-quarter to $634 million\nUS commercial highlights\n  \nUS commercial revenue grew 40% year-over-year and 14% quarter-over-quarter to $150 million\nUS commercial customer count grew 69% year-over-year and 19% quarter-over-quarter to 262 customers\nUS commercial remaining deal value (\"RDV\") grew 74% year-over-year and 14% quarter-over-quarter\n\nCommercial revenue grew 27% year-over-year and 5% quarter-over-quarter to $299 million\nGovernment revenue grew 16% year-over-year and 3% quarter-over-quarter to $335 million\n  \nUS government revenue grew 12% year-over-year and 8% quarter-over-quarter to $257 million\n\nCustomer count grew 42% year-over-year and 11% quarter-over-quarter\nAdjusted income from operations of $226 million, representing a margin of 36%\n  \nSixth consecutive quarter of expanding adjusted operating margins\n\nRule of 40 score of 57%\nCash from operations of $130 million, representing a 20% margin\nAdjusted free cash flow of $149 million, representing a 23% margin\nCash, cash equivalents, and short-term US treasury securities of $3.9 billion\n\n\n\n\nQ1 2024 Financial Summary\n\n\n\n \n\n\n(Unaudited)(Amounts in thousands, except percentages and per share amounts)\nFirst Quarter\n\n\nAmount\n\n\nRevenue\n\n\n$\n634,338\n\n\n\nYear-over-year growth\n\n\n\n21\n%\n\n\n\n\n\n\n\n\n\nAmount\n\nMargin\n\n\nIncome from Operations\n$\n80,881\n\n\n\n13\n%\n\n\nAdjusted Income from Operations\n$\n226,458\n\n\n\n36\n%\n\n\nCash from Operations\n$\n129,579\n\n\n\n20\n%\n\n\nAdjusted Free Cash Flow\n$\n148,634\n\n\n\n23\n%\n\n\nNet Income Attributable to Common Stockholders\n$\n105,530\n\n\n\n17\n%\n\n\nAdjusted Net Income Attributable to Common Stockholders\n$\n196,937\n\n\n\n\n\nAdjusted EBITDA\n$\n234,896\n\n\n\n37\n%\n\n\nGAAP EPS, Diluted\n$\n0.04\n\n\n\n\n\nAdjusted EPS, Diluted\n$\n0.08\n\n\n\n\n\n\nOutlook\nFor Q2 2024, we expect:\n\nRevenue of between $649 – $653 million.\nAdjusted income from operations of between $209 – $213 million.\n\nFor full year 2024:\n\nWe are raising our revenue guidance to between $2.677 – $2.689 billion.\nWe are raising our US commercial revenue guidance to in excess of $661 million, representing a growth rate of at least 45%.\nWe are raising our adjusted income from operations guidance to between $868 – $880 million.\nWe continue to expect adjusted free cash flow of between $800 million – $1 billion.\nAnd we continue to expect GAAP operating income and net income in each quarter of this year.\n\nCEO Letter\nPalantir CEO Alex Karp’s quarterly letter is available through Palantir’s website at https://www.palantir.com/newsroom/letters.\nEarnings Webcast\nA live public webcast will be held at 3:00 PM MT / 5:00 PM ET today to discuss the results for our first quarter ended March 31, 2024 and financial outlook. The webcast can be accessed by registering online at https://palantir.events/palantir-earnings-q1-2024. A replay of the webcast will be available at https://investors.palantir.com following the event.\nAn investor presentation, including supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, will be available through Palantir’s Investor Relations website at https://investors.palantir.com.\nForward-Looking Statements\nThis press release and statements on our earnings webcast contain \"forward-looking statements\" within the meaning of the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product development and related timing, distribution, and pricing, expected benefits of and applications for our software platforms, business strategy, and plans (including strategy and plans relating to our Artificial Intelligence Platform (\"AIP\"), sales and marketing efforts, sales force, partnerships, and customers), investments in our business, market trends and market size, opportunities (including growth opportunities), our expectations regarding our existing and potential investments in, and commercial contracts with, various entities, our expectations regarding macroeconomic events, our expectations regarding potential eligibility or inclusion in market indices, our expectations regarding our share repurchase program, and positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Words such as \"guidance,\" \"expect,\" \"anticipate,\" \"should,\" \"believe,\" \"hope,\" \"target,\" \"project,\" \"plan,\" \"goals,\" \"estimate,\" \"potential,\" \"predict,\" \"may,\" \"will,\" \"might,\" \"could,\" \"intend,\" \"shall,\" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to risks detailed in our filings with the Securities and Exchange Commission (the \"SEC\"), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other filings and reports that we may file from time to time with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. In particular, the following factors, among others, could cause our results to differ materially from those expressed or implied by such forward-looking statements: our ability to successfully execute our business and growth strategy; the sufficiency of our cash and cash equivalents to meet our liquidity needs; the demand for our platforms, product offerings, and services in general; our ability to increase our number of new customers and revenue generated from customers; our ability to realize some or all of the total contract value of customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; our long and unpredictable sales cycle; our ability to successfully execute our channel sales and other strategic initiatives with third parties; our ability to retain and expand our customer base; the fluctuation of our results of operations and our key business measures on a quarterly basis in future periods; the seasonality of our business; the implementation process for our platforms, which may be complex and lengthy; our ability to successfully develop and deploy new technologies to address the needs of our existing or prospective customers; our ability to make our platforms and product offerings easier to install, consume, and use; our ability to maintain and enhance our brand and reputation; our ability to maintain and enhance our culture as our business grows and as we pursue our business and financial goals; news or social media coverage about us, including but not limited to coverage that presents, or relies on, inaccurate, misleading, incomplete, or otherwise damaging information; the impact of recent or future global macroeconomic and geopolitical events, such as the ongoing Russia-Ukraine and Israel conflicts, heightened interest rates, monetary policy changes, or foreign currency fluctuations, on the business and operations of our company or of our existing or prospective customers and partners; issues raised by the use of artificial intelligence on our platforms; and any breach or access to our or customer or third-party data.\nThe forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Past performance is not necessarily indicative of future results.\nAdditional Definitions\nFor the purpose of this press release, our earnings webcast, and our CEO’s letter:\n\nTotal contract value (\"TCV\") is the total potential lifetime value of contracts entered into with, or awarded by, our customers at the time of contract execution and remaining deal value (\"RDV\") is the total remaining value of contracts as of the end of the reporting period. Except as noted below, TCV and RDV each presume the exercise of all contract options available to our customers and no termination of contracts. However, the majority of our contracts are subject to termination provisions, including for convenience, and there can be no guarantee that contracts are not terminated or that contract options will be exercised. Further, RDV may exclude all or some portion of the value of certain commercial contracts as a result of our ongoing assessments of customers’ financial condition, including the consideration of such customers’ ability and intention to pay, and whether such contracts continue to meet the criteria for revenue recognition, among other factors.\n\n\nRemaining performance obligations (\"RPO\") reflect the total values of contracts that have been entered into with, or awarded by, our customers, and represent non-cancelable contracted revenue that has not yet been recognized, which includes deferred revenue and, in certain instances, amounts that will be invoiced. We have elected the practical expedient, as permitted under Accounting Standards Codification 606—Revenue from Contracts with Customers, to not disclose remaining performance obligations for contracts with original terms of twelve months or less.\n\n\nThe term \"Strategic Commercial Contracts\" is as defined in our annual report on Form 10-K for the fiscal year ended December 31, 2023.\n\n\nThe term \"Rule of 40\" refers to the sum of our revenue growth rate year-over-year and our adjusted operating margin for each of the periods presented.\n\nNon-GAAP Financial Measures\nThis press release and the accompanying tables, as well as our earnings webcast and our CEO’s letter, contain the non-GAAP financial measures adjusted income from operations, which excludes stock-based compensation and related employer payroll taxes; adjusted operating margin; adjusted free cash flow; adjusted free cash flow margin; adjusted earnings before interest, taxes, depreciation, and amortization (\"adjusted EBITDA\"); adjusted EBITDA margin; adjusted net income attributable to common stockholders; and adjusted EPS, diluted.\nWe believe these non-GAAP financial measures and other metrics described in this press release help us evaluate our business, identify trends affecting Palantir’s business, formulate business plans and financial projections, and make strategic decisions. We exclude stock-based compensation, which is a non-cash expense, from these non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information regarding operational performance and provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team. We exclude employer payroll taxes related to stock-based compensation as it is difficult to predict and outside of Palantir’s control.\nOur definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Further, these metrics have certain limitations as they do not include the impact of certain expenses that are reflected in our consolidated statements of operations. For example, adjusted free cash flow does not reflect our future contractual commitments or the total increase or decrease in our cash balances for a given period. Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP.\nWe compensate for these limitations by providing a reconciliation of each of these non-GAAP measures to the most comparable GAAP measure. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measure.\nA reconciliation table of the most comparable GAAP financial measure to each non-GAAP financial measure used in this press release is included at the end of this release. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, reconciling items that may be incurred in the future, such as stock-based compensation and related employer payroll taxes, the effect of which may be significant.\nAvailable Information\nPalantir uses its Investor Relations website at https://investors.palantir.com as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Palantir’s Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, and webcasts.\nAbout Palantir Technologies Inc.\nFoundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.\n\n\n\nPalantir Technologies Inc.Condensed Consolidated Statements of Operations(in thousands, except per share amounts)(unaudited)\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nRevenue\n$\n634,338\n\n\n$\n525,186\n\n\n\nCost of revenue (1)\n\n116,256\n\n\n\n107,645\n\n\n\nGross profit\n\n518,082\n\n\n\n417,541\n\n\n\nOperating expenses:\n\n\n\n\n\nSales and marketing (1)\n\n193,177\n\n\n\n187,093\n\n\n\nResearch and development (1)\n\n110,040\n\n\n\n90,100\n\n\n\nGeneral and administrative (1)\n\n133,984\n\n\n\n136,233\n\n\n\nTotal operating expenses\n\n437,201\n\n\n\n413,426\n\n\n\nIncome from operations\n\n80,881\n\n\n\n4,115\n\n\n\nInterest income\n\n43,352\n\n\n\n20,853\n\n\n\nOther income (expense), net\n\n(13,507\n)\n\n\n(4,136\n)\n\n\nIncome before provision for income taxes\n\n110,726\n\n\n\n20,832\n\n\n\nProvision for income taxes\n\n4,655\n\n\n\n1,681\n\n\n\nNet income\n\n106,071\n\n\n\n19,151\n\n\n\nLess: Net income attributable to noncontrolling interests\n\n541\n\n\n\n2,349\n\n\n\nNet income attributable to common stockholders\n$\n105,530\n\n\n$\n16,802\n\n\n\nNet earnings per share attributable to common stockholders, basic\n$\n0.05\n\n\n$\n0.01\n\n\n\nNet earnings per share attributable to common stockholders, diluted\n$\n0.04\n\n\n$\n0.01\n\n\n\nWeighted-average shares of common stock outstanding used in computing net earnings per share attributable to common stockholders, basic\n\n2,213,545\n\n\n\n2,107,780\n\n\n\nWeighted-average shares of common stock outstanding used in computing net earnings per share attributable to common stockholders, diluted\n\n2,400,107\n\n\n\n2,217,439\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(1)\n\nIncludes stock-based compensation expense as follows (in thousands):\n\n\n\n\n\n\n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n\n\nCost of revenue\n$\n10,416\n\n\n$\n9,177\n\n\n\n\n\nSales and marketing\n\n42,156\n\n\n\n39,535\n\n\n\n\n\nResearch and development\n\n26,874\n\n\n\n19,924\n\n\n\n\n\nGeneral and administrative\n\n46,205\n\n\n\n46,078\n\n\n\n\n\nTotal stock-based compensation\n$\n125,651\n\n\n$\n114,714\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nPalantir Technologies Inc.Condensed Consolidated Balance Sheets(in thousands)(unaudited)\n\n\n\n\n\n \n\n\n\nAs of March 31,\n\nAs of December 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nAssets\n\n\n\n\n\nCurrent assets:\n\n\n\n\n\nCash and cash equivalents\n$\n520,388\n\n\n$\n831,047\n\n\n\nMarketable securities\n\n3,347,512\n\n\n\n2,843,132\n\n\n\nAccounts receivable, net\n\n486,986\n\n\n\n364,784\n\n\n\nPrepaid expenses and other current assets\n\n81,178\n\n\n\n99,655\n\n\n\nTotal current assets\n\n4,436,064\n\n\n\n4,138,618\n\n\n\nProperty and equipment, net\n\n46,906\n\n\n\n47,758\n\n\n\nOperating lease right-of-use assets\n\n173,707\n\n\n\n182,863\n\n\n\nOther assets\n\n150,402\n\n\n\n153,186\n\n\n\nTotal assets\n$\n4,807,079\n\n\n$\n4,522,425\n\n\n\nLiabilities and Equity\n\n\n\n\n\nCurrent liabilities:\n\n\n\n\n\nAccounts payable\n$\n35,634\n\n\n$\n12,122\n\n\n\nAccrued liabilities\n\n206,034\n\n\n\n222,991\n\n\n\nDeferred revenue\n\n237,195\n\n\n\n246,901\n\n\n\nCustomer deposits\n\n217,634\n\n\n\n209,828\n\n\n\nOperating lease liabilities\n\n54,056\n\n\n\n54,176\n\n\n\nTotal current liabilities\n\n750,553\n\n\n\n746,018\n\n\n\nDeferred revenue, noncurrent\n\n20,722\n\n\n\n28,047\n\n\n\nCustomer deposits, noncurrent\n\n1,651\n\n\n\n1,477\n\n\n\nOperating lease liabilities, noncurrent\n\n163,013\n\n\n\n175,216\n\n\n\nOther noncurrent liabilities\n\n9,968\n\n\n\n10,702\n\n\n\nTotal liabilities\n\n945,907\n\n\n\n961,460\n\n\n\nStockholders’ equity:\n\n\n\n\n\nCommon stock\n\n2,227\n\n\n\n2,200\n\n\n\nAdditional paid-in capital\n\n9,322,803\n\n\n\n9,122,173\n\n\n\nAccumulated other comprehensive income (loss), net\n\n(5,720\n)\n\n\n801\n\n\n\nAccumulated deficit\n\n(5,544,083\n)\n\n\n(5,649,613\n)\n\n\nTotal stockholders’ equity\n\n3,775,227\n\n\n\n3,475,561\n\n\n\nNoncontrolling interests\n\n85,945\n\n\n\n85,404\n\n\n\nTotal equity\n\n3,861,172\n\n\n\n3,560,965\n\n\n\nTotal liabilities and equity\n$\n4,807,079\n\n\n$\n4,522,425\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nPalantir Technologies Inc.Condensed Consolidated Statements of Cash Flows(in thousands)(unaudited)\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nOperating activities\n\n\n\n\n\nNet income\n$\n106,071\n\n\n$\n19,151\n\n\n\nAdjustments to reconcile net income to net cash provided by operating activities:\n\n\n\n\n\nDepreciation and amortization\n\n8,438\n\n\n\n8,320\n\n\n\nStock-based compensation\n\n125,651\n\n\n\n114,714\n\n\n\nNoncash operating lease expense\n\n12,366\n\n\n\n10,836\n\n\n\nUnrealized and realized (gain) loss from marketable securities, net\n\n12,354\n\n\n\n8,508\n\n\n\nNoncash consideration\n\n(11,907\n)\n\n\n(7,596\n)\n\n\nOther operating activities\n\n(6,774\n)\n\n\n(6,670\n)\n\n\nChanges in operating assets and liabilities:\n\n\n\n\n\nAccounts receivable, net\n\n(121,884\n)\n\n\n2,709\n\n\n\nPrepaid expenses and other current assets\n\n19,399\n\n\n\n1,252\n\n\n\nOther assets\n\n3,525\n\n\n\n(4,551\n)\n\n\nAccounts payable\n\n23,809\n\n\n\n(39,921\n)\n\n\nAccrued liabilities\n\n(19,105\n)\n\n\n4,271\n\n\n\nDeferred revenue, current and noncurrent\n\n(14,802\n)\n\n\n43,238\n\n\n\nCustomer deposits, current and noncurrent\n\n7,953\n\n\n\n43,631\n\n\n\nOperating lease liabilities, current and noncurrent\n\n(15,482\n)\n\n\n(10,536\n)\n\n\nOther noncurrent liabilities\n\n(33\n)\n\n\n20\n\n\n\nNet cash provided by operating activities\n\n129,579\n\n\n\n187,376\n\n\n\nInvesting activities\n\n\n\n\n\nPurchases of property and equipment\n\n(2,664\n)\n\n\n(4,755\n)\n\n\nPurchases of marketable securities\n\n(1,260,327\n)\n\n\n(2,310,367\n)\n\n\nProceeds from sales and redemption of marketable securities\n\n751,746\n\n\n\n709,459\n\n\n\nProceeds from sales of alternative investments\n\n—\n\n\n\n51,072\n\n\n\nNet cash used in investing activities\n\n(511,245\n)\n\n\n(1,554,591\n)\n\n\nFinancing activities\n\n\n\n\n\nProceeds from the exercise of common stock options\n\n83,840\n\n\n\n25,924\n\n\n\nRepurchases of common stock\n\n(9,000\n)\n\n\n—\n\n\n\nOther financing activities\n\n408\n\n\n\n59\n\n\n\nNet cash provided by financing activities\n\n75,248\n\n\n\n25,983\n\n\n\nEffect of foreign exchange on cash, cash equivalents, and restricted cash\n\n(4,024\n)\n\n\n2,676\n\n\n\nNet decrease in cash, cash equivalents, and restricted cash\n\n(310,442\n)\n\n\n(1,338,556\n)\n\n\nCash, cash equivalents, and restricted cash - beginning of period\n\n850,107\n\n\n\n2,627,335\n\n\n\nCash, cash equivalents, and restricted cash - end of period\n$\n539,665\n\n\n$\n1,288,779\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nPalantir Technologies Inc.Reconciliation of GAAP to Non-GAAP Financial Measures(unaudited)\n\n\n\n \n\n\nNon-GAAP Reconciliations\n\n\n\n\n \n\n\nAdjusted Income from Operations and Adjusted Operating Margin (in thousands, except percentages)\n\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nIncome from operations\n$\n80,881\n\n\n$\n4,115\n\n\n\nAdd: stock-based compensation\n\n125,651\n\n\n\n114,714\n\n\n\nAdd: employer payroll taxes related to stock-based compensation\n\n19,926\n\n\n\n6,285\n\n\n\nAdjusted income from operations\n$\n226,458\n\n\n$\n125,114\n\n\n\nAdjusted operating margin\n\n36\n%\n\n\n24\n%\n\n\n\n\n\n\nAdjusted Free Cash Flow and Adjusted Free Cash Flow Margin (in thousands, except percentages)\n\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet cash provided by operating activities\n$\n129,579\n\n\n$\n187,376\n\n\n\nAdd: cash paid for employer payroll taxes related to stock-based compensation\n\n21,719\n\n\n\n6,276\n\n\n\nLess: purchases of property and equipment\n\n(2,664\n)\n\n\n(4,755\n)\n\n\nAdjusted free cash flow\n$\n148,634\n\n\n$\n188,897\n\n\n\nAdjusted free cash flow margin\n\n23\n%\n\n\n36\n%\n\n\n\n\n\n\nAdjusted EBITDA and Adjusted EBITDA Margin (in thousands, except percentages)\n\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet income attributable to common stockholders\n$\n105,530\n\n\n$\n16,802\n\n\n\nAdd: net income attributable to noncontrolling interests\n\n541\n\n\n\n2,349\n\n\n\nLess: interest income\n\n(43,352\n)\n\n\n(20,853\n)\n\n\nAdd: other (income) expense, net\n\n13,507\n\n\n\n4,136\n\n\n\nAdd: provision for income taxes\n\n4,655\n\n\n\n1,681\n\n\n\nAdd: depreciation and amortization\n\n8,438\n\n\n\n8,320\n\n\n\nAdd: stock-based compensation\n\n125,651\n\n\n\n114,714\n\n\n\nAdd: employer payroll taxes related to stock-based compensation\n\n19,926\n\n\n\n6,285\n\n\n\nAdjusted EBITDA\n$\n234,896\n\n\n$\n133,434\n\n\n\nAdjusted EBITDA margin\n\n37\n%\n\n\n25\n%\n\n\n\n\n\n\nAdjusted Net Income Attributable to Common Stockholders and Adjusted Earnings Per Share, Diluted (in thousands, except per share amounts)\n\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet income attributable to common stockholders\n$\n105,530\n\n\n$\n16,802\n\n\n\nAdd: stock-based compensation\n\n125,651\n\n\n\n114,714\n\n\n\nAdd: employer payroll taxes related to stock-based compensation\n\n19,926\n\n\n\n6,285\n\n\n\nLess: income tax effects and adjustments (1)\n\n(54,170\n)\n\n\n(30,400\n)\n\n\nAdjusted net income attributable to common stockholders\n$\n196,937\n\n\n$\n107,401\n\n\n\nWeighted-average shares used in computing GAAP earnings per share, diluted\n\n2,400,107\n\n\n\n2,217,439\n\n\n\nAdjusted weighted-average shares used in computing adjusted earnings per share, diluted\n\n2,400,107\n\n\n\n2,217,439\n\n\n\nAdjusted earnings per share, diluted\n$\n0.08\n\n\n$\n0.05\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(1)\n\nIncome tax effect is based on a long-term estimated annual effective tax rate of 23.0% for the periods ended 2024 and 2023.\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240505799356/en/\nContacts\nInvestor Relations investors@palantir.com\nMedia media@palantir.com","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}