Palantir Reports Its Third Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.01 in Q2 2023

About this update from Palantir Technologies Inc.

DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the second quarter ended June 30, 2023. Q2 2023 Highlights GAAP net income of $28 million Third consecutive quarter of GAAP profitability GAAP income from operations of $10 million, representing a 2% margin Second consecutive quarter of GAAP operating profitability GAAP earnings per share (“EPS”) of $0.01 Adjusted EPS of $0.05 Revenue grew 13% year-over-year to $533 million Commercial revenue grew 10% year-over-year to $232 million US commercial revenue grew 20% year-over-year to $103 million Government revenue grew 15% year-over-year to $302 million International government revenue grew 31% year-over-year to $76 million Customer count grew 38% year-over-year and 8% quarter-over-quarter US commercial customer count increased 35% year-over-year, from 119 customers in Q2 2022 to 161 customers in Q2 2023 Adjusted income from operations of $135 million, representing a margin of 25% Cash from operations of $90 million, representing a 17% margin Adjusted free cash flow of $96 million, representing a 18% margin Cash, cash equivalents, and short-term U.S. treasury securities of $3.1 billion H1 2023 Highlights Revenue of $1.1 billion GAAP net income of $45 million, representing a 4% margin GAAP income from operations of $14 million, representing a 1% margin Adjusted income from operations of $260 million, representing a 25% margin Cash from operations of $278 million, representing a 26% margin Adjusted free cash flow of $285 million, representing a 27% margin Q2 2023 Financial Summary (Amounts in thousands, except percentages and per share amounts) Second Quarter Amount Revenue $ 533,317 Year-over-year growth 13 % Amount Margin Income from Operations $ 10,074 2 % Adjusted Income from Operations $ 135,035 25 % Cash from Operations $ 90,192 17 % Adjusted Free Cash Flow $ 96,028 18 % Net Income Attributable to Common Stockholders $ 28,127 Adjusted Net Income Attributable to Common Stockholders $ 119,549 Adjusted EBITDA $ 143,434 27 % GAAP EPS, Diluted $ 0.01 Adjusted EPS, Diluted $ 0.05 Outlook For Q3 2023, we expect: Revenue of between $553 - $557 million. Adjusted income from operations of $135 - $139 million. GAAP net income. For full year 2023: We are raising our revenue guidance to in excess of $2.212 billion. We are raising our adjusted income from operations ...

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