Palantir Technologies(PLTR) - 2024 Q3 - Quarterly Results

Revenue Growth - Revenue grew 30% year-over-year and 7% quarter-over-quarter to $726 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 $179 million and U.S. government revenue up 40% year-over-year to $320 million[3] - Revenue for Q3 2024 increased to $725.5 million, up 30% from $558.2 million in Q3 2023[20] - For Q4 2024, the company expects revenue of $767-$771 million[5] - Full-year 2024 revenue guidance raised to $2.805-$2.809 billion, with U.S. commercial revenue expected to exceed $687 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 $113 million, representing a 16% margin[3][4] - Adjusted income from operations of $276 million, representing a 38% margin, and adjusted free cash flow of $435 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 $140.8 million and a 25% margin in Q3 2023[25] - Adjusted income from operations for Q3 2024 was $275.5 million, up from $163.3 million in Q3 2023[24] - Adjusted EBITDA for Q3 2024 increased to $283.6 million, up from $171.9 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 $448.8 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] - Adjusted earnings per share, diluted, for Q3 2024 was $0.10, up from $0.07 in Q3 2023[27] - Adjusted earnings per share, diluted, for the nine months ended September 30, 2024, was $0.27, up from $0.17 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 $420 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-$1.058 billion[5] - Cash and cash equivalents decreased to $768.7 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 $693.5 million, compared to $411.0 million in the same period of 2023[23] - Marketable securities increased to $3.80 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 $143.5 million, compared to $71.5 million in Q3 2023, a 101% increase[20] - Net income attributable to common stockholders for Q3 2024 was $143.5 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 $383.2 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 $241.6 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 $659.9 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 $1 million[3] Stock-Based Compensation - Stock-based compensation for Q3 2024 was $142.4 million, up from $114.4 million in Q3 2023[21] - Stock-based compensation for Q3 2024 was $142.4 million, up from $114.4 million in Q3 2023[26] - Stock-based compensation for the nine months ended September 30, 2024, was $409.8 million, up from $343.3 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]