Original title: big data Analytics Co., Ltd. Palantir revenue in the first quarter increased by 49% year on year, but net loss doubled compared with the same period last year.
May 12, according to foreign media reports, big data analysis company Palantir, released its first-quarter results on Tuesday local time. Its revenue in this quarter increased by 49% compared with the same period last year, but it failed to turn a profit from the same period last year, and its net loss expanded, more than double that of the same period last year.
Palantir reported revenue of $341 million in the first quarter of this year, up $112 million from $229 million in the same period last year, or 48.9% year-on-year.
Palantir's gross profit also rose sharply in the quarter, reporting $267 million, compared with $165 million in the same period last year, up 61.8% from a year earlier and exceeding revenue growth of 48.9%.
However, while revenue increased significantly, Palantir's operating expenses also increased significantly, with marketing expenditure reaching $136 million in the first quarter, compared with $98.653 million in the same period last year; R & D expenditure also increased from $65.8 million to $98.471 million; and management expenses reached $147 million in the first quarter, doubling from $70.765 million in the same period last year.
In the first quarter, Palantir's total operating expenses reached $381 million, compared with $235 million in the same period last year, an increase of 62.13% year-on-year.
Operating expenses increased significantly, and Palantir's operating loss widened to $114 million in the first quarter of last year, up from $70.185 million in the first quarter of last year.
Palantir's net loss also widened significantly in the first quarter. The results showed a net loss of $123 million for the quarter, an increase of $69.2 million from $54.274 million in the first quarter of last year and a year-on-year increase of 127 per cent.