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 million

• Customer 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.