share_log

Palantir Reports Its Fourth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.03

moomoo News ·  Nov 2, 2023 07:20

DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the third quarter ended September 30, 2023.

Q3 2023 Highlights

  • GAAP net income of $72 million, representing a 13% margin

  • GAAP income from operations of $40 million, representing a 7% margin

  • GAAP earnings per share (“EPS”) of $0.03

  • Adjusted EPS of $0.07

  • Revenue grew 17% year-over-year to $558 million

  • Commercial revenue grew 23% year-over-year to $251 million

  • Government revenue grew 12% year-over-year to $308 million

  • Customer count grew 34% year-over-year

  • Adjusted income from operations of $163 million, representing a margin of 29%

  • Cash from operations of $133 million, representing a 24% margin

  • Adjusted free cash flow of $141 million, representing a 25% margin

  • Cash, cash equivalents, and short-term US treasury securities of $3.3 billion

Image source: Business Wire
Image source: Business Wire

Outlook

For Q4 2023, we expect:

  • Revenue of between $599 - $603 million.

  • Adjusted income from operations of $184 - $188 million.

  • GAAP net income.

For full year 2023:

  • We are raising our revenue guidance to between $2.216 - $2.220 billion.

  • We are raising our adjusted income from operations guidance to between $607 - $611 million.

  • We continue to expect GAAP net income in each quarter of this year.

Source: Palantir Reports Its Fourth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.03

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment