Palantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024

About this update from Palantir Technologies Inc.

[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nPalantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2024.\n\n\nQ1 2024 Highlights\n\n\n\nGAAP net income of $106 million, representing a 17% margin\n\n\nSixth consecutive quarter of GAAP profitability\n\n\n\n\n\n\nGAAP income from operations of $81 million, representing a 13% margin\n\n\nFifth consecutive quarter of GAAP operating profitability\n\n\n\n\n\n\nGAAP earnings per share (“EPS”) of $0.04\n\n\n\nAdjusted EPS of $0.08\n\n\n\nRevenue grew 21% year-over-year and 4% quarter-over-quarter to $634 million\n\n\n\nUS commercial highlights\n\n\nUS commercial revenue grew 40% year-over-year and 14% quarter-over-quarter to $150 million\n\n\n\nUS commercial customer count grew 69% year-over-year and 19% quarter-over-quarter to 262 customers\n\n\n\nUS commercial remaining deal value (“RDV”) grew 74% year-over-year and 14% quarter-over-quarter\n\n\n\n\n\n\nCommercial revenue grew 27% year-over-year and 5% quarter-over-quarter to $299 million\n\n\n\nGovernment revenue grew 16% year-over-year and 3% quarter-over-quarter to $335 million\n\n\nUS government revenue grew 12% year-over-year and 8% quarter-over-quarter to $257 million\n\n\n\n\n\n\nCustomer count grew 42% year-over-year and 11% quarter-over-quarter\n\n\n\nAdjusted income from operations of $226 million, representing a margin of 36%\n\n\nSixth consecutive quarter of expanding adjusted operating margins\n\n\n\n\n\n\nRule of 40 score of 57%\n\n\n\nCash from operations of $130 million, representing a 20% margin\n\n\n\nAdjusted free cash flow of $149 million, representing a 23% margin\n\n\n\nCash, cash equivalents, and short-term US treasury securities of $3.9 billion\n\n\n\n\n\nQ1 2024 Financial Summary\n\n\n\n\n\n\n\n\n \n\n\n\n(Unaudited)\n\n\n\n\n(Amounts in thousands, except percentages and per share amounts)\n\n\n\n\n\n\nFirst Quarter\n\n\n\n\n\n\n\n\nAmount\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n634,338\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 \n\n\n\n\n\n\n \n\n\n\n\n\n\n21\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\n80,881\n\n\n\...

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