Palantir Q4 Earnings: Revenue Beat, EPS In Line, Continued GAAP Profitability Ahead And More

Palantir Technologies Inc PLTR reported fourth-quarter financial results after the market close on Monday. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Palantir said fourth-quarter revenue increased 20% year-over-year to $608 million, which beat the consensus estimate of $602.41 million, according to Benzinga Pro.

Commercial revenue grew 32% year-over-year, driven by a 70% year-over-year increase in U.S. commercial revenue. Government revenue climbed 11% year-over-year.

Palantir reported quarterly adjusted earnings of 8 cents per share, which was in line with analyst estimates. Palantir has now met or exceeded analyst estimates on both the top and bottom line in four of the last five quarters. Monday’s results mark the company’s fifth consecutive quarter of GAAP profitability.

Palantir’s customer count grew 35% year-over-year during the quarter. U.S. commercial customer count increased 55% year-over-year to 221 customers.

Palantir ended the quarter with cash, equivalents and short-term U.S. treasury securities of $3.7 billion.

Outlook: Palantir expects first-quarter revenue to be between $612 million and $616 million versus estimates of $617.21 million. First-quarter adjusted income from operations is expected to be between $196 million and $200 million.

Full-year 2024 revenue is expected to be between $2.652 billion and $2.668 billion. Full-year adjusted income from operations is expected to be between $834 million and $850 million. The company also guided for GAAP net income in each quarter of 2024.

Management will hold a conference call to discuss these results at 5 p.m. ET.

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PLTR Price Action: Palantir shares were up 15.2% after hours at $19.21 at the time of publication, according to Benzinga Pro.

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