Palantir Technologies Inc. (Palantir) reported a robust financial performance for the quarter ended June 30, 2024, with a 27% year-on-year increase in quarterly revenue, reaching $678.1 million compared to $533.3 million in the same period of 2023. The company's operating income for the quarter was $105.3 million, a significant rise from $10.1 million in the previous year. The adjusted operating income, excluding stock-based compensation, was $253.6 million. Palantir's gross profit for the quarter stood at $549.6 million, with a gross margin of 81%. Over a six-month period, the company's revenue grew by 24% to $1.3 billion, with a gross profit of $1.1 billion and a gross margin of 81%. The company's customer base expanded to 593, including both commercial and government clients, up from 421 in the previous year...Show More

Palantir Technologies Inc. (Palantir) reported a robust financial performance for the quarter ended June 30, 2024, with a 27% year-on-year increase in quarterly revenue, reaching $678.1 million compared to $533.3 million in the same period of 2023. The company's operating income for the quarter was $105.3 million, a significant rise from $10.1 million in the previous year. The adjusted operating income, excluding stock-based compensation, was $253.6 million. Palantir's gross profit for the quarter stood at $549.6 million, with a gross margin of 81%. Over a six-month period, the company's revenue grew by 24% to $1.3 billion, with a gross profit of $1.1 billion and a gross margin of 81%. The company's customer base expanded to 593, including both commercial and government clients, up from 421 in the previous year. Palantir's average revenue from its top twenty customers increased by 9% to $57.3 million. The company's business development has been marked by the introduction of new software platforms, including Apollo and the Artificial Intelligence Platform (AIP), and strategic partnerships, particularly in the defense sector. Palantir's future plans include broadening market access to its software platforms and identifying potential commercial offerings within its existing products. The company also monitors macroeconomic trends and geopolitical tensions, which could impact its business operations and financial results.