Palantir Technologies Inc (NASDAQ:PLTR) reported third-quarter financial results after the market close on Monday. Here’s a rundown of the report.
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Q3 Highlights: Palantir reported revenue of $1.18 billion for the third quarter, beating analyst estimates of $1.09 billion. The AI software company reported third-quarter adjusted earnings of 21 cents per share, beating analyst estimates of 17 cents per share, according to Benzinga Pro.
Total revenue was up 63% year-over-year in the quarter as U.S. revenue grew 77% year-over-year to $883 million. U.S. Commercial revenue increased 121% year-over-year to $397 million and U.S. Government revenue jumped 52% year-over-year to $486 million.
Palantir's customer count grew 45% year-over-year and 7% on a quarter-over-quarter basis. The company said it closed 204 deals worth over $1 million during the quarter, 91 deals worth at least $5 million and 53 deals worth at least $10 million.
Palantir generated $508 million in cash from operations and $540 million in adjusted free cash flow in the quarter. Palantir ended the period with approximately $6.4 billion of cash, cash equivalents and short-term U.S. treasury securities.
“114% — our Rule of 40 score! These results make undeniable the transformational impact of using AIP to compound AI leverage,” said Alex Karp, co-founder and CEO of Palantir.
What’s Next: Palantir expects fourth-quarter revenue to be in the range of $1.327 billion to $1.331 billion versus estimates of $1.19 billion.
“We are yet again announcing the highest sequential quarterly revenue growth guide in our company’s history, representing 61% year-over-year growth,” Karp said.
Palantir also raised its full-year guidance. The company now expects full-year 2025 revenue of $4.396 billion to $4.4 billion, up from prior guidance of $4.14 billion to $4.15 billion. Analysts are forecasting full-year revenue of $4.17 billion.
Palantir raised its U.S. commercial revenue guidance, adjusted income from operations guidance and adjusted free cash flow guidance for 2025. The company noted that it continues to expect positive GAAP operating income and net income in each quarter this year.
Palantir executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
PLTR Price Action: Palantir shares initially surged on the report. The stock was trading approximately flat in after-hours at $207.01 at the time of publication on Monday, according to Benzinga Pro.
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