On August 5, 2024, Palantir Technologies Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a significant revenue growth of 27% year-over-year, reaching $678 million. Notably, the U.S. commercial sector saw a 55% increase in revenue compared to the previous year, contributing $159 million. Palantir's U.S. commercial customer count also surged by 83% year-over-year. Government revenue experienced a 23% year-over-year increase, totaling $371 million. The company closed 27 deals valued over $10 million each and reported a GAAP net income of $134 million, which translates to a 20% margin. Earnings per share (EPS) on a GAAP basis grew by 500% year-over-year to $0.06, while adjusted EPS increased by 80% to $0.09. Palantir ended the quarter with $4.0 billion in cash, cash equivalents...Show More

On August 5, 2024, Palantir Technologies Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a significant revenue growth of 27% year-over-year, reaching $678 million. Notably, the U.S. commercial sector saw a 55% increase in revenue compared to the previous year, contributing $159 million. Palantir's U.S. commercial customer count also surged by 83% year-over-year. Government revenue experienced a 23% year-over-year increase, totaling $371 million. The company closed 27 deals valued over $10 million each and reported a GAAP net income of $134 million, which translates to a 20% margin. Earnings per share (EPS) on a GAAP basis grew by 500% year-over-year to $0.06, while adjusted EPS increased by 80% to $0.09. Palantir ended the quarter with $4.0 billion in cash, cash equivalents, and short-term U.S. treasury securities. The company also raised its full-year revenue guidance to between $2.742 - $2.750 billion and expects adjusted income from operations to be between $966 - $974 million. The CEO's letter and an investor presentation were made available on Palantir's website, and a live webcast was held to discuss the results and financial outlook.