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Palantir Technologies(PLTR) - 2024 Q3 - Quarterly Results
PLTRPalantir Technologies(PLTR)2024-11-04 21:07

Revenue Growth - Revenue grew 30% year-over-year and 7% quarter-over-quarter to 726million[3][4]−U.S.revenuegrew44726 million[3][4] - U.S. revenue grew 44% year-over-year and 14% quarter-over-quarter to 499 million, with U.S. commercial revenue up 54% year-over-year to 179millionandU.S.governmentrevenueup40179 million and U.S. government revenue up 40% year-over-year to 320 million[3] - Revenue for Q3 2024 increased to 725.5million,up30725.5 million, up 30% from 558.2 million in Q3 2023[20] - For Q4 2024, the company expects revenue of 767−767-771 million[5] - Full-year 2024 revenue guidance raised to 2.805−2.805-2.809 billion, with U.S. commercial revenue expected to exceed 687million,representingatleast50687 million, representing at least 50% growth[5] Profitability Metrics - GAAP net income of 144 million, representing a 20% margin, and GAAP income from operations of 113million,representinga16113 million, representing a 16% margin[3][4] - Adjusted income from operations of 276 million, representing a 38% margin, and adjusted free cash flow of 435million,representinga60435 million, representing a 60% margin[3][4] - Adjusted operating margin for Q3 2024 improved to 38%, up from 29% in Q3 2023[24] - Adjusted free cash flow for Q3 2024 was 434.5 million, representing a 60% margin, compared to 140.8millionanda25140.8 million and a 25% margin in Q3 2023[25] - Adjusted income from operations for Q3 2024 was 275.5 million, up from 163.3millioninQ32023[24]−AdjustedEBITDAforQ32024increasedto163.3 million in Q3 2023[24] - Adjusted EBITDA for Q3 2024 increased to 283.6 million, up from 171.9millioninQ32023,withamarginof39171.9 million in Q3 2023, with a margin of 39% compared to 31% in the same period last year[26] - Adjusted EBITDA for the nine months ended September 30, 2024, reached 780.1 million, up from 448.8millioninthesameperiodin2023,withamarginof38448.8 million in the same period in 2023, with a margin of 38% compared to 28%[26] Earnings Per Share (EPS) - GAAP EPS grew 100% year-over-year to 0.06, and adjusted EPS grew 43% year-over-year to 0.10[3][4]−Adjustedearningspershare,diluted,forQ32024was0.10[3][4] - Adjusted earnings per share, diluted, for Q3 2024 was 0.10, up from 0.07inQ32023[27]−Adjustedearningspershare,diluted,fortheninemonthsendedSeptember30,2024,was0.07 in Q3 2023[27] - Adjusted earnings per share, diluted, for the nine months ended September 30, 2024, was 0.27, up from 0.17inthesameperiodin2023[27]CashandLiquidity−Cash,cashequivalents,andshort−termU.S.Treasurysecuritiestotaled0.17 in the same period in 2023[27] Cash and Liquidity - Cash, cash equivalents, and short-term U.S. Treasury securities totaled 4.6 billion, with cash from operations of 420million,representinga58420 million, representing a 58% margin[3][4] - Adjusted free cash flow guidance for 2024 raised to over 1 billion, with adjusted income from operations expected to be between 1.054−1.054-1.058 billion[5] - Cash and cash equivalents decreased to 768.7millionasofSeptember30,2024,from768.7 million as of September 30, 2024, from 831.0 million as of December 31, 2023[22] - Net cash provided by operating activities for the nine months ended September 30, 2024, was 693.5million,comparedto693.5 million, compared to 411.0 million in the same period of 2023[23] - Marketable securities increased to 3.80billionasofSeptember30,2024,from3.80 billion as of September 30, 2024, from 2.84 billion as of December 31, 2023[22] Net Income - Net income attributable to common stockholders for Q3 2024 was 143.5million,comparedto143.5 million, compared to 71.5 million in Q3 2023, a 101% increase[20] - Net income attributable to common stockholders for Q3 2024 was 143.5million,upfrom143.5 million, up from 71.5 million in Q3 2023[26] - Net income attributable to common stockholders for the nine months ended September 30, 2024, was 383.2million,upfrom383.2 million, up from 116.4 million in the same period in 2023[26] - Adjusted net income attributable to common stockholders, diluted, for Q3 2024 was 241.6million,upfrom241.6 million, up from 155.0 million in Q3 2023[27] - Adjusted net income attributable to common stockholders, diluted, for the nine months ended September 30, 2024, was 659.9million,upfrom659.9 million, up from 382.0 million in the same period in 2023[27] Customer and Deal Growth - Customer count grew 39% year-over-year and 6% quarter-over-quarter, with 104 deals closed over 1million[3]Stock−BasedCompensation−Stock−basedcompensationforQ32024was1 million[3] Stock-Based Compensation - Stock-based compensation for Q3 2024 was 142.4 million, up from 114.4millioninQ32023[21]−Stock−basedcompensationforQ32024was114.4 million in Q3 2023[21] - Stock-based compensation for Q3 2024 was 142.4 million, up from 114.4millioninQ32023[26]−Stock−basedcompensationfortheninemonthsendedSeptember30,2024,was114.4 million in Q3 2023[26] - Stock-based compensation for the nine months ended September 30, 2024, was 409.8 million, up from 343.3millioninthesameperiodin2023[26]TotalAssets−TotalassetsasofSeptember30,2024,increasedto343.3 million in the same period in 2023[26] Total Assets - Total assets as of September 30, 2024, increased to 5.77 billion, up from $4.52 billion as of December 31, 2023[22]