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Palantir Reports Revenue Growth of 47% for Full Year 2020, Expects Q1 2021 Revenue Growth of 45%
DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE: PLTR): Summary $1.1 billion in revenue for full year 2020, up 47% year-over-year $322 million in
About this update from Palantir Technologies Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nPalantir Technologies Inc. (NYSE: PLTR):\n\nSummary\n\n\n$1.1 billion in revenue for full year 2020, up 47% year-over-year\n\n\n$322 million in revenue for Q4 2020, up 40% year-over-year\n\n\nNew contracts in Q4 2020 include Rio Tinto, PG&E, bp, U.S. Army, U.S. Air Force, FDA, and NHS\n\n\nExpects Q1 2021 revenue growth of 45% year-over-year\n\n\nFull Year 2020 Financial Results \n\nIn 2020, we generated $1.1 billion in revenue, up 47% year-over-year.\n\nOur average revenue per customer was $7.9 million, up 41% year-over-year. Our average revenue from our top 20 customers was $33.2 million, up 34% year-over-year.\n\nThe number of customers generating more than $1 million in annual revenue grew 32% year-over-year. The number of customers generating more than $5 million in annual revenue grew 54% year-over-year. The number of customers generating more than $10 million in annual revenue grew 50% year-over-year.\n\nQ4 2020 Financial Results \n\nIn Q4 2020, we generated $322 million in revenue, up 40% year-over-year.\n\nWe incurred a loss from operations of $156.6 million, which includes $241.8 million in stock-based compensation and $18.9 million in related employer payroll taxes.\n\nOur income from operations was $104.1 million, after adjusting for stock-based compensation and related employer payroll taxes.\n\nIn Q4 2020, we signed 21 contracts each worth $5 million or more in total contract value, including 12 contracts each worth $10 million or more in total contract value.\n\nOutlook \n\nFor full year 2021, we continue to expect:\n\n\nYear-over-year revenue growth of greater than 30%.\n\n\nFor Q1 2021, we expect:\n\n\nYear-over-year revenue growth of 45%.\n\n\nAdjusted operating margin of 23%.\n\n\nEarnings Webcast \n\nA public webcast will be held at 6:00 a.m. MT / 8:00 a.m. ET today to discuss the results for our fourth quarter and fiscal year ended December 31, 2020 and financial outlook. The live public call can be accessed by registering online at https://event.on24.com/wcc/r/2947836/5C123DA27C8C4F9CBFBC27AC3FEABE81. Following the call, a replay will be available at (888) 869-1189 or (706) 643-5902 until midnight (ET) on February 23, 2021.\n\nA slide presentation including supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measure...