Palantir Reports Revenue Growth of 27% Year-Over-Year and Raises Full Year Revenue Guidance; Record GAAP EPS of $0.06 in Q2 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 second quarter ended June 30, 2024.\n\n\nQ2 2024 Highlights\n\n\n\nRevenue grew 27% year-over-year and 7% quarter-over-quarter to $678 million\n\n\n\nUS commercial highlights\n\n\nUS commercial revenue grew 55% year-over-year and 6% quarter-over-quarter to $159 million\n\n\n\nUS commercial customer count grew 83% year-over-year and 13% quarter-over-quarter to 295 customers\n\n\n\nUS commercial remaining deal value (“RDV”) grew 103% year-over-year and 11% quarter-over-quarter\n\n\n\n\n\n\nUS government revenue grew 24% year-over-year and 8% quarter-over-quarter to $278 million\n\n\n\nCommercial revenue grew 33% year-over-year and 3% quarter-over-quarter to $307 million\n\n\n\nGovernment revenue grew 23% year-over-year and 11% quarter-over-quarter to $371 million\n\n\n\nClosed 27 deals over $10 million\n\n\n\nCustomer count grew 41% year-over-year and 7% quarter-over-quarter\n\n\n\nGAAP net income of $134 million, representing a 20% margin\n\n\n\nGAAP income from operations of $105 million, representing a 16% margin\n\n\n\nAdjusted income from operations of $254 million, representing a margin of 37%\n\n\n\nRule of 40 score of 64%\n\n\n\nGAAP earnings per share (“EPS”) grew 500% year-over-year to $0.06\n\n\n\nAdjusted EPS grew 80% year-over-year to $0.09\n\n\n\nCash, cash equivalents, and short-term US treasury securities of $4.0 billion\n\n\n\nCash from operations of $144 million, representing a 21% margin\n\n\n\nAdjusted free cash flow of $149 million, representing a 22% margin\n\n\n\nQ2 2024 Financial Summary\n\n\n\n\n(Unaudited)\n\n\n\n\n(Amounts in thousands, except percentages and per share amounts)\n\n\n\n\n\n\n\nSecond Quarter\n\n\n\n\n\n\n\n\n\nAmount\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n\n678,134\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\n27\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$\n\n\n\n\n\n\n105,339\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n16\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted Income from Operations\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n253,567\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\...

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