November 4, 2024 - $Palantir (PLTR.US)$ shares surged 12.80% to $46.71 in post-market trading on Monday. Palantir reports revenue growth of 30% y/y, U.S. revenue growth of 44% y/y, GAAP EPS of $0.06; raises full year guidance on revenue, U.S. Comm revenue, adj. free cash flow, adj. Op. income above consensus estimates on “AI demand that won’t slow down”.
Q3 2024 Highlights
U.S. revenue grew 44% year-over-year and 14% quarter-over-quarter to $499 million
Revenue grew 30% year-over-year and 7% quarter-over-quarter to $726 million
Closed 104 deals over $1 millionCustomer count grew 39% year-over-year and 6% quarter-over-quarter
GAAP net income of $144 million, representing a 20% margin
GAAP income from operations of $113 million, representing a 16% margin
Adjusted income from operations of $276 million, representing a 38% margin
Rule of 40 score of 68%
GAAP earnings per share (“EPS”) grew 100% year-over-year to $0.06
Adjusted EPS grew 43% year-over-year to $0.10
Cash, cash equivalents, and short-term U.S. Treasury securities of $4.6 billion
Cash from operations of $420 million, representing a 58% margin and $995 million on a trailing twelve month basis
Adjusted free cash flow of $435 million, representing a 60% margin and over $1 billion on a trailing twelve month basis
Q3 2024 Financial Summary
Outlook
For Q4 2024, it expect:
Revenue of between $767 - $771 million.
Adjusted income from operations of between $298 - $302 million.
For full year 2024:
The company is raising its revenue guidance to between $2.805 billion and $2.809 billion.
It is raising its U.S. commercial revenue guidance to in excess of $687 million, representing a growth rate of at least 50%.
The company is raising its adjusted income from operations guidance to between $1.054 billion and $1.058 billion.
It is raising its adjusted free cash flow guidance to in excess of $1 billion.
And it continues to expect GAAP operating income and net income in each quarter of this year.
