Slide 1: Q3 2022 Business Update
Q3 ©2022 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: Q3 2022 Highlights
©2022 Palantir Technologies Inc. Q3 Business Update Q3 2022 Highlights Revenue grew +22% Y/Y to $478 million in Q3 2022 Our US revenue grew +31% Y/Y to $297 million in Q3 2022 US Commercial revenue grew 53% Y/Y in Q3 2022 Our Government business surpassed the $1 billion revenue mark on a TTM basis C
Slide 4: Thank you to our FoundryCon customer speakers
Q3 Business Update Thank you to our FoundryCon customer speakers. ©2022 Palantir Technologies Inc.
Slide 5: Tyson Foods: over $200 million in value savings
Q3 Business Update We've had about 20 different projects. We've created over $200 million in value savings... That's really hard to beat. Scott Spradley CTO of Tyson Foods ©2022 Palantir Technologies Inc.
Slide 6: Jacobs: dropped 20% at this particular site
Q3 Business Update ...we dropped 20% at this particular site...That's direct money for us...because we have 300 sites. You can do the math. John Rickermann MD of Jacobs ©2022 Palantir Technologies Inc.
Slide 7: Swiss Re: first single use case with 9-digit USD impact
Q3 Business Update First single use case to produce 9-digit USD impact — and now over 1/3 of the company is an active Foundry user. Ian Haycock Group CDO and CITO of Swiss Re Corporate Solutions ©2022 Palantir Technologies Inc.
Slide 8: Lilium: analysis time reduced by a factor of 6x
Q3 Business Update The time to analyze ... we reduced by a factor of 6x. We could fly more often. We could learn faster. Yves Yemsi COO of Lilium ©2022 Palantir Technologies Inc.
Slide 9: Space Systems Command testimonial
Q3 Business Update There are 15,000 souls that would not have been able to be evacuated [from Afghanistan] unless we had that foundation. Colonel Jennifer Krolikowski CIO of Space Systems Command The appearance of any U.S. Department of Defense (DoD) visual information does not imply or constitute D
Slide 10: 25 new supply chain projects and partnerships
Q3 Business Update This year alone, we started 25 new BUSINESS WIRE supply chain projects — including Palantir and Concordance announcements with Concordance, Announce Partnership to Power Micron, and a 5-year, $20 million First, Fully Integrated Medical expansion with Hyundai Heavy Supply Chain Eco
Slide 11: Homes for Ukraine platform powered by Foundry
Q3 Business Update The Homes for Ukraine platform, 100,000+ visa holders have arrived in the UK powered by Foundry, has helped 159,000+ visa applications received, ensure the safe matching and with 137,200 visas issued resettlement of over 100,000 2,000+ users across all local authorities Ukraine re
Slide 12: IL6 Provisional Authorization from DISA
Q3 Business Update IL-6 SAAS One of three companies with IL6 Provisional Authorization from DISA, Accomodates DoD Classified Information alongside Microsoft and Amazon. IL-5 SAAS Accomodates DoD CUI & National Security Systems (NSS) IL-4 SAAS Accomodates DoD Controlled IL-2 SAAS Unclassified Informa
Slide 13: TITAN was on display at AUSA 2022
Q3 Business Update TITAN was on display at AUSA 2022. ©2022 Palantir Technologies Inc.
Slide 14: IDC ranked Palantir No. 1 in worldwide AI software
Q3 Business Update IDC ranked Palantir No. 1 in worldwide AI software by 2021 ...Palantir has demonstrated its clear leadership in AI on market share and revenue, and a global scale from both a market share and revenue perspective and are on a trajectory to continue to do so. Forrester named Palanti
Slide 15: Q3 Financials
Q3 ©2022 Palantir Technologies Inc. 2022 Financials
Slide 16: US business generated TTM revenue of $1.1B
Q3 Financials US business generated Total US Revenue Growth TTM revenue of $1.1B $350M $297M $300M $250M +31% for the period ended $227M September 30, 2022. $200M $150M $100M $50M Q3 2021 Q3 2022 ©2022 Palantir Technologies Inc.
Slide 17: Government business generated TTM revenue of $1.02B
Q3 Financials Government business Government Revenue Growth generated TTM revenue of $1.02B $300M $274M $250M +26% $218M for the period ended $200M September 30, 2022, surpassing the $1B threshold $150M for the first time. $100M $50M Q3 2021 Q3 2022 ©2022 Palantir Technologies Inc.
Slide 18: US Commercial revenue growth of 53%
Q3 Financials US Commercial Total Commercial Revenue Growth revenue growth of 53% $250M $204M $200M $174M +17% year-over-year. $150M $100M $50M Q3 2021 Q3 2022 ©2022 Palantir Technologies Inc.
Slide 19: Net dollar retention of 119%; Q3 revenue grew 22%
Q3 Financials We ended Q3 2022 with Q3 revenue grew by 22% net dollar retention of year-over-year to $478M 119% $500M $478M . +22% $400M $392M $300M $200M $100M Net dollar retention is calculated as (a) revenue for the trailing twelve months as of each period attributable to the customers as counted
Slide 20: Total customer count grew year-over-year
Q3 Financials Our total customer We added 33 net new customers count grew in Q3 2022, with total customers 66% up 11% quarter-over-quarter. 350 337 +66% 304 300 +11% year-over-year. 277 +10% 250 237 +17% 203 200 +17% 150 100 50 TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING
Slide 21: Commercial customer count and average revenue per top 20 customers
©2022 Palantir Technologies Inc. Q3 Financials Commercial Customer Count Average Revenue per Top 20 Customers 250 $50M $48M 228 203 200 $45M 184 +15% $41M 150 147 $40M 115 100 $35M 50 TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE MONTHS TRAILING TWEL
Slide 22: Deals Closed and Billings
©2022 Palantir Technologies Inc. Q3 Financials Deals Closed Billings 300 $600M 273 $509M $500M +47% 200 +63% $400M $347M 167 $300M 100 $200M $100M Q3 2021 Q3 2022 Q3 2021 Q3 2022 Billings is defined as revenue plus the change in contract liabilities for the period presented. Please see the appendix
Slide 23: $4.1B total remaining deal value
©2022 Palantir Technologies Inc. Q3 Financials We ended Q3 2022 with $4.1B Remaining performance obligations in total remaining deal value, grew 43% year-over-year to $1.3B up +14% year-over-year $1.5B $4.5B $1.3B $4.1B +43% $4B $1B +14% $874M $3.6B $3.5B $500M Q3 2021 Q3 2022 Q3 2021 Q3 2022 Total
Slide 24: Adjusted Gross Margins
©2022 Palantir Technologies Inc. Q3 Financials Adjusted Gross Margins Adjusted Gross Margin 82% 83% 81% 81% 80% Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Adjusted gross margin excludes stock-based compensation. Adjusted gross margin is a non-GAAP financial measure. Please see the appendix for the reco
Slide 25: Adjusted Operating Margin
Q3 Financials We are continuing to invest Q3 2022 adjusted operating income in our business to position was $81M, representing a margin of 17%. the company and our Adjusted Operating Margin customers to win. $125M $116M 30% $100M $81M $75M 17% $50M $25M Q3 2021 Q3 2022 Adjusted operating margin excl
Slide 26: $2.4B in cash and no debt
Q3 Financials We ended the third quarter of 2022 Q3 2022 Adjusted Free Cash Flow with $2.4B in cash and no debt. and Cash from Operations $50M $47M As of September 30, 2022, we maintained total undrawn $40M commitments of $950M. $37M $30M $20M $10M ADJUSTED FREE CASH FROM Adjusted free cash flow exc
Slide 27: Total US Revenue Growth and TTM Revenue CAGR
©2022 Palantir Technologies Inc. Q3 Financials Total US Revenue Growth TTM Revenue CAGR of 39% since the start of 2019 $1.25B $2B $1.11B $1.8B $1B +38% $808M $1.5B $750M +39% $1B $500M $743M $500M $250M TRAILING TWELVE MONTHS TRAILING TWELVE MONTHS TRAILING TWELVE MONTHS TRAILING TWELVE MONTHS ENDED
Slide 28: Guidance
©2022 Palantir Technologies Inc. Q3 Financials Guidance FY 2022 Q4 2022 We are reaffirming our revenue guidance of between After factoring in a negative $5 million currency impact since our prior quarter’s guidance, $1.9 billion - $1.902 billion we expect revenue of between despite a negative $6 mil
Slide 29: Appendix A
Q3 ©2022 Palantir Technologies Inc. 2022 Appendix A
Slide 30: 78 deals closed of at least $1 million
©2022 Palantir Technologies Inc. Appendix A During Q3 2022, we closed 78 deals of at least $1 million. 32 19 of which were at of which were at least $5 million. least $10 million.
Slide 31: Commercial Customer Count
Appendix A Commercial Commercial Customer Count Commercial revenue growth year-over-year 250 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 228 37% 47% 54% 46% 17% 203 200 184 147 150 115 100 50 TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE MONTHS ENDED MONTHS ENDED MONTHS
Slide 32: US Commercial share of revenue and customer count
Appendix A US Commercial US Commercial (%) of Overall Revenue US Commercial revenue growth year-over-year 20% 18% Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 103% 132% 136% 120% 53% 15% US Commercial Customer Count 150 132 10% 11% 119 103 100 80 59 5% 50 TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE T
Slide 33: Government TTM Revenue per Customer
Appendix A Government Government TTM Revenue per Customer Government revenue growth year-over-year $10M $10M $9M Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 34% 26% 16% 13% 26% $6M $5M $4M TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE TRAILING TWELVE MONTHS ENDED MONTHS ENDED MONTHS ENDED MONTHS ENDED
Slide 34: Appendix B
Q3 ©2022 Palantir Technologies Inc. 2022 Appendix B
Slide 35: Reconciliation to Adjusted Free Cash Flow and Margin
©2022 Palantir Technologies Inc. Appendix B Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin Adjusted free cash flow margin is calculated as adjusted free cash flow divided by revenue ($ THOUSANDS) Q3 2021 Q3 2022 Cash Flow from Oper
Slide 36: Reconciliation of Gross Profit to Adjusted Gross Profit
©2022 Palantir Technologies Inc. Appendix B 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) Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Gross
Slide 37: Reconciliation to Adjusted Operating Income and Margin
©2022 Palantir Technologies Inc. Appendix B Reconciliation of Loss from Operations to Adjusted Operating Income and Adjusted Operating Margin Excluding Stock-Based Compensation and Related Employer Payroll Taxes ($ THOUSANDS) Q3 2021 Q3 2022 Loss from Operations $ (91,941) $ (62,191) Add: Stock-Base
Slide 38: Reconciliation to Adjusted Earnings Per Share, Diluted
©2022 Palantir Technologies Inc. Appendix B Reconciliation of GAAP Net Loss Per Share, Diluted to Adjusted Earnings Per Share, Diluted (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Q3 2021 Q3 2022 GAAP Net Loss $ (102,137) $ (123,875) Add / (Less): Stock-Based Compensation 184,835 140,308 Employe
Slide 39: Reconciliation of Revenue to Billings
©2022 Palantir Technologies Inc. Appendix B Reconciliation of Revenue to Billings ($ THOUSANDS) Q3 2021 Q3 2022 Revenue $ 392,146 $ 477,880 Change in Contract Liabilities (45,244) 30,807 Billings $ 346,902 $ 508,687
Slide 40: Reconciliation to Adjusted Expenses
©2022 Palantir Technologies Inc. Appendix B Reconciliation of Cost of Revenue and Total Operating Expenses to Adjusted Expenses ($ THOUSANDS) Q2 2022 Q3 2022 Total Expenses $ 514,755 $ 540,071 Less: Stock-Based Compensation 145,769 140,308 Employer Payroll Taxes Related to Stock-Based Compensation 3
Slide 41: Calculations of Foreign Exchange Rate Impacts
©2022 Palantir Technologies Inc. Appendix B Calculations of Foreign Exchange Rate Impacts Adjusted to exclude the effect of foreign currency rate fluctuations ($ THOUSANDS) Q3 2022 Q4 2022 GUIDANCE MIDPOINT FY 2022 GUIDANCE MIDPOINT Revenue $ 477,880 $ 503,753 $ 1,901,000 Add: Currency Impact [1] 1,