Palantir Technologies Inc. · NASDAQ:PLTR
Palantir Technologies — Q4 2022 Earnings Presentation
34 slides from Palantir Technologies's earnings presentation, Feb 13, 2023
Slide 1: FY 2022 Business Update
FY ©2023 Palantir Technologies Inc. 2022 Business Update
Slide 2: Disclaimer Safe Harbor
Disclaimer Safe Harbor This presentation contains “forward-looking” statements within the meaning of the federal securities laws, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but
Slide 3: Q4 2022 Highlights
© 2023 Palantir Technologies Inc. Q4 Business Update Q4 2022 Highlights We achieved GAAP net income profitability for the first time in our company’s history GAAP earnings per share (“EPS”) of $0.01 Revenue grew +18% Y/Y to $509 million in Q4 2022 Our US government (“USG”) revenue grew +22% Y/Y to $
Slide 4: FY 2022 Highlights
© 2023 Palantir Technologies Inc. Q4 Business Update FY 2022 Highlights Our US business grew +32% Y/Y to $1.2 billion in FY 2022 US commercial revenue grew +67% Y/Y in FY 2022 Revenue grew +24% Y/Y to $1.9 billion in FY 2022 Customer count increased +55% Y/Y to 367, up from 237 a year ago Adjusted o
Slide 5: Thank you to our FoundryCon US 2023 speakers
Q4 Business Update Thank you to our FoundryCon US 2023 speakers. © 2023 Palantir Technologies Inc.
Slide 6: Dr. Deborah Birx quote on data analysis
Q4 Business Update We went from that simple sheet to a comprehensive data analysis with data streams from every state, every hospital, every laboratory within a matter of weeks. Dr. Deborah Birx → 2/1/2023 Senior Fellow, George W. Bush Institute © 2023 Palantir Technologies Inc.
Slide 7: Tampa General Hospital CTO on Foundry
Q4 Business Update These analytic applications allow folks to interact with the data, update the data and then write those changes back to the source systems. And that to me is a real differentiator for Foundry. Brian Hammond → 2/1/2023 CTO, Tampa General Hospital © 2023 Palantir Technologies Inc.
Slide 8: Integrity Tool & Mold CEO quote
Q4 Business Update It’s currently the largest investment we’ve made outside of physical infrastructure. But in the end, we've always believed that in order to be the best, you have to partner with the best. Paul DiGiovanni → 2/1/2023 Founder and CEO, Integrity Tool & Mold © 2023 Palantir Technologie
Slide 9: Southern California Edison CIO quote
Q4 Business Update …we’re moving from hardware-defined to software-defined, and that means the potential is unlimited…all these things aren’t sort of being dreamed up. They’re actually happening right now. Todd Inlander → 2/1/2023 CIO, Southern California Edison © 2023 Palantir Technologies Inc.
Slide 10: Products launched at FoundryCon US 2023
Q4 Business Update Products launched at FoundryCon US 2023 Process Mining & Scheduling Foundry Marketplace Automation Suite Primitives Developer Suite © 2023 Palantir Technologies Inc.
Slide 11: Process Mining & Automation Suite
Q4 Business Update —— PROCESS MINING & AUTOMATION SUITE The Process Mining & Automation Suite allows customers to mine complex ➁ business processes, visualize the process in a flow-chart type graph, and conduct drill ➀ down analyses to find and address inefficiencies. ➃ Learn more at: palantir.com/p
Slide 12: Scheduling Primitives
Q4 Business Update —— SCHEDULING PRIMITIVES ANALYTICS WORKFLOWS INTEGRATIONS Scheduling Primitives is № 13.08 № 13.08 Option 1a Decision Made Option 3a Option 1a Decision Made Option 3a the newest application to A+ A+ Option 1 Option 2 Option 3 Option 4 Option 1 Option 2 Option 3 Option 4 ACTION Ont
Slide 13: Foundry Marketplace Developer Suite
Q4 Business Update —— FOUNDRY MARKETPLACE DEVELOPER SUITE The Foundry Marketplace Developer Suite gives customers the ability to create their own “Foundry App Stores” where users can both install apps and assets to their Foundry stack, or publish their apps and assets for distribution to other stack
Slide 14: FY 2022 Financials
FY ©2023 Palantir Technologies Inc. 2022 Financials
Slide 15: Achieving GAAP Net Income Profitability
Q4 Financials —— ACHIEVING GAAP NET INCOME PROFITABILITY Q4 2022 GAAP earnings per share of We achieved GAAP $0.01, up $0.07 Q/Q and $0.09 Y/Y net income profitability for the first time in our GAAP EPS company’s history. $0.05 $0.01 $ $(0.05) $(0.05) $(0.06) $(0.10) $(0.08) $(0.09) Q4 2021 Q1 2022
Slide 16: US Revenue Growth
Q4 Financials —— US REVENUE GROWTH US Revenue Growth US business generated revenue of $1,200M $1.2B $1,161M $1,100M $1,000M 32% for the year ended $900M $879M December 31, 2022. $800M $700M $600M $500M FY 2021 FY 2022 © 2023 Palantir Technologies Inc.
Slide 17: US Business Performance
Q4 Financials —— US BUSINESS PERFORMANCE US Commercial Revenue Growth US Government Revenue Growth $350M $335M $1,000M $826M $300M $800M 67% 22% $250M $678M $201M $600M $200M $150M $400M $100M $200M $50M FY 2021 FY 2022 FY 2021 FY 2022 © 2023 Palantir Technologies Inc.
Slide 18: Segment Growth
Q4 Financials —— SEGMENT GROWTH Government Revenue Growth Commercial Revenue Growth $1,200M $900M $834M $1,072M $800M $1,000M 19% 29% $897M $700M $645M $800M $600M $500M $600M $400M $400M $300M $200M $200M $100M FY 2021 FY 2022 FY 2021 FY 2022 © 2023 Palantir Technologies Inc.
Slide 19: Total Revenue Growth
Q4 Financials —— TOTAL REVENUE GROWTH FY 2022 revenue grew 24% We ended FY 2022 year-over-year to $1.9B with net dollar retention of 115%. $2.0B $1.9B $1.8B 24% $1.5B $1.5B $1.3B $1.0B $0.8B $0.5B $0.3B Net dollar retention is calculated as (a) revenue for the current year attributable to the custom
Slide 20: Customer Count
Q4 Financials —— CUSTOMER COUNT We added 30 net new customers Our total customer in Q4 2022, with total customers count grew 55% up 9% quarter-over-quarter year-over-year in Q4. 400 55% 367 350 337 304 9% 300 11% 277 10% 250 237 17% 200 150 100 50 TTM ENDED TTM ENDED TTM ENDED TTM ENDED TTM ENDED DE
Slide 21: Commercial Customer Count and Average TTM Revenue per Top 20 Customer
Q4 Financials —— COMMERCIAL CUSTOMER COUNT AND AVERAGE TTM REVENUE PER TOP 20 CUSTOMER Commercial Customer Count Average TTM Revenue per Top 20 Customer 300 260 $49M $50M 250 228 $44M 13% 203 $40M 200 184 $30M 150 147 $20M 100 50 $10M TTM ENDED TTM ENDED TTM ENDED TTM ENDED TTM ENDED FY 2021 FY 2022
Slide 22: Deals Closed & Billings
Q4 Financials —— DEALS CLOSED & BILLINGS Deals Closed Billings 1200 $2.0B $1.8B $1.8B 976 1000 $1.5B 21% $1.5B 800 61% $1.3B 605 600 $1.0B $0.8B 400 $0.5B 200 $0.3B FY 2021 FY 2022 FY 2021 FY 2022 Billings is defined as revenue plus the change in contract liabilities for the period presented. © 2023
Slide 23: Deals Closed
Q4 Financials —— DEALS CLOSED © 2023 Palantir Technologies Inc. The value of deals closed reflects the total contract value of contracts that have been entered into with, or awarded by, our government and commercial customers and includes existing contractual obligations and unexercised contract opt
Slide 24: Adjusted Gross Margin
Q4 Financials —— ADJUSTED GROSS MARGIN ADJ. GROSS MARGIN 82% 81% 81% 80% Q1 2022 Q2 2022 Q3 2022 Q4 2022 © 2023 Palantir Technologies Inc. Adjusted gross margin excludes stock-based compensation. Please see the appendix for the reconciliation of this non-GAAP financial measure to the most directly c
Slide 25: Adjusted Free Cash Flow and Cash from Operations
Q4 Financials —— ADJUSTED FREE CASH FLOW AND CASH FROM OPERATIONS FY 2022 Adjusted Free Cash We ended 2022 with Flow and Cash from Operations $2.6B in cash and no debt. $250M $200M $203M $224M $150M As of December 31, 2022, we maintained total undrawn commitments under our $100M credit facility of $
Slide 26: Adjusted Operating Income and Margin
Q4 Financials —— ADJUSTED OPERATING INCOME AND MARGIN FY 2022 adjusted operating income was We are committed to fiscal $421M, representing a margin of 22% responsibility through ADJUSTED OPERATING MARGIN management of margins while $500M $473M expanding our business. $421M 31% $400M 22% $300M $200M
Slide 27: Guidance
Q4 Financials —— GUIDANCE FY 2023 Q1 2023 For full year 2023, we expect: For first quarter 2023, we expect: Revenue of between Revenue of between $2.180 billion - $2.230 billion. $503 million - $507 million. Adjusted income from operations of between Adjusted income from operations of between $481 m
Slide 28: FY 2022 Appendix
FY ©2023 Palantir Technologies Inc. 2022 Appendix
Slide 29: Reconciliation to Adjusted Free Cash Flow and Margin
Appendix Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin Adjusted free cash flow margin is calculated as adjusted free cash flow divided by revenue ($ THOUSANDS) FY 2021 FY 2022 Cash Flow from Operating Activities $ 333,851 $ 223,73
Slide 30: Reconciliation of Gross Profit to Adjusted Gross Profit
Appendix Reconciliation of Gross Profit to Adjusted Gross Profit and Adjusted Gross Margin Excluding Stock-Based Compensation Adjusted gross margin is calculated as adjusted gross profit divided by revenue ($ THOUSANDS) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Gross Profit $ 351,954 $ 370,786 $ 370,269 $ 404
Slide 31: Reconciliation to Adjusted Operating Income and Margin
Appendix Reconciliation of Loss from Operations to Adjusted Operating Income and Adjusted Operating Margin Excluding Stock-Based Compensation and Related Employer Payroll Taxes ($ THOUSANDS) Q4 2021 Q4 2022 FY 2021 FY 2022 Loss from Operations $ (58,943) $ (17,826) $ (411,046) $ (161,201) Add: Stock
Slide 32: Reconciliation to Adjusted Earnings Per Share, Diluted
Appendix Reconciliation of GAAP Net Income (Loss) Per Share, Diluted to Adjusted Earnings Per Share, Diluted (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Q4 2021 Q4 2022 FY 2021 FY 2022 Net Income (Loss) Attributable to Common Stockholders $ (156,188) $ 30,878 $ (520,379) $ (373,705) Add / (Less
Slide 33: Reconciliation of Revenue to Billings
Appendix Reconciliation of Revenue to Billings ($ THOUSANDS) Q4 2021 Q4 2022 FY 2021 FY 2022 Revenue $ 432,867 $ 508,624 $ 1,541,889 $ 1,905,871 Change in Contract Liabilities (46,927) (121,589) (68,541) (124,097) Billings $ 385,940 $ 387,035 $ 1,473,348 $ 1,781,774 © 2023 Palantir Technologies Inc.
Slide 34: Reconciliation to Adjusted Expenses
Appendix Reconciliation of Cost of Revenue and Total Operating Expenses to Adjusted Expenses ($ THOUSANDS) Q3 2022 Q4 2022 FY 2021 FY 2022 Total Expenses $ 540,071 $ 526,450 $ 1,952,935 $ 2,067,072 Less: Stock-Based Compensation 140,308 129,398 778,215 564,798 Employer Payroll Taxes Related to Stock
Palantir Technologies — Q4 2022 Earnings Presentation on 6ix