Palantir Investors Pull Back After Q4 Print: What You Need To Know

Shares of data analytics software company Palantir Technologies Inc PLTR were retreating to their lowest level since late January in Tuesday's premarket session following the release of fiscal year 2020 fourth-quarter results.

What Happened: Denver-based Palantir reported adjusted earnings of 6 cents per share. Analysts, on average, estimated a profit of 2 cents per share.

The loss from operations stood at $156.6 million, including $241.8 million in stock-based compensation and $18.9 million in related payroll taxes. Excluding these expenses, the company posted income from operations of $104.1 million.

Related Link: Palantir To Debut New Software, Apps At Inaugural Demo Day

Revenue climbed 40% year-over-year to $322 million, exceeding the $300.74-million consensus estimate.

The company said it signed 21 contracts in the fourth quarter, each worth $5 million or more. New contracts signed included those with the U.S. Army, Air Force, FDA, NHS, PG&E Corporation PCG and Rio Tinto plc ADR Common Stock RIO, the company said.

What's Next: Palantir said it expects revenue growth of over 30% for fiscal year 2021, shy of the 32.3% growth the Street is forecasting.

For the first quarter, the company guided to revenue growth of 45% and an adjusted operating margin of 23%.

PLTR Price Action: In premarket trading Tuesday, Palantir shares were slipping 10.22% to $28.65, the lowest level since Jan. 22.

Related Link: Morgan Stanley Downgrades Palantir, Says Risk/Reward Paradigm Shifts Decidedly Negative

Photo courtesy of Palantir.