Palantir Reports Its Third Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.01 in Q2 2023

About this update from Palantir Technologies Inc.

[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nPalantir Technologies Inc. (NYSE:PLTR) today announced financial results for the second quarter ended June 30, 2023.\n\n\nQ2 2023 Highlights\n\n\n\nGAAP net income of $28 million\n\n\nThird consecutive quarter of GAAP profitability\n\n\n\n\n\n\nGAAP income from operations of $10 million, representing a 2% margin\n\n\nSecond consecutive quarter of GAAP operating profitability\n\n\n\n\n\n\nGAAP earnings per share (“EPS”) of $0.01\n\n\n\nAdjusted EPS of $0.05\n\n\n\nRevenue grew 13% year-over-year to $533 million\n\n\n\nCommercial revenue grew 10% year-over-year to $232 million\n\n\nUS commercial revenue grew 20% year-over-year to $103 million\n\n\n\n\n\n\nGovernment revenue grew 15% year-over-year to $302 million\n\n\nInternational government revenue grew 31% year-over-year to $76 million\n\n\n\n\n\n\nCustomer count grew 38% year-over-year and 8% quarter-over-quarter\n\n\nUS commercial customer count increased 35% year-over-year, from 119 customers in Q2 2022 to 161 customers in Q2 2023\n\n\n\n\n\n\nAdjusted income from operations of $135 million, representing a margin of 25%\n\n\n\nCash from operations of $90 million, representing a 17% margin\n\n\n\nAdjusted free cash flow of $96 million, representing a 18% margin\n\n\n\nCash, cash equivalents, and short-term U.S. treasury securities of $3.1 billion\n\n\n\nH1 2023 Highlights\n\n\n\nRevenue of $1.1 billion\n\n\n\nGAAP net income of $45 million, representing a 4% margin\n\n\n\nGAAP income from operations of $14 million, representing a 1% margin\n\n\n\nAdjusted income from operations of $260 million, representing a 25% margin\n\n\n\nCash from operations of $278 million, representing a 26% margin\n\n\n\nAdjusted free cash flow of $285 million, representing a 27% margin\n\n\n\nQ2 2023 Financial Summary\n\n\n\n\n(Amounts in thousands, except percentages and per share amounts)\n\n\n\n\n\n\n\nSecond Quarter\n\n\n\n\n\n\n\n\n\nAmount\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n533,317\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nYear-over-year growth\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n13\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nAmount\n\n\n\n\n\n\n \n\n\n\n\n\n\nMargin\n\n\n\n\n\n\n\n\nIncome from Operations\n\n\n\n\n\n\n\n$\n\n\n\n\n\...

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