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Palantir | 8-K: Palantir Announces Fourth Quarter and Fiscal Year Financial Results and Publishes CEO Letter on Company's Official Website

SEC announcement ·  Feb 6 05:09
Summary by Futu AI
On February 5, 2024, Palantir Technologies Inc. reported its financial results for the fourth quarter and the fiscal year ended December 31, 2023. The company announced a GAAP net income of $93 million, marking its fifth consecutive quarter of GAAP profitability, with a GAAP EPS of $0.04. Revenue increased by 20% year-over-year to $608 million for the quarter, and the full-year revenue grew by 17% to $2.23 billion. Notably, U.S. commercial revenue surged by 70% year-over-year. Palantir also highlighted a strong adjusted income from operations of $209 million, representing a 34% margin, and a robust adjusted free cash flow of $305 million, with a 50% margin. The company's cash, cash equivalents, and short-term U.S. treasury securities stood at $3.7 billion. Looking ahead, Palantir provided guidance for Q1 2024, expecting revenue between $612 - $616 million and adjusted income from operations of $196 - $200 million. For the full year 2024, the company anticipates revenue between $2.652 - $2.668 billion, with U.S. commercial revenue expected to exceed $640 million, and adjusted income from operations between $834 - $850 million.
On February 5, 2024, Palantir Technologies Inc. reported its financial results for the fourth quarter and the fiscal year ended December 31, 2023. The company announced a GAAP net income of $93 million, marking its fifth consecutive quarter of GAAP profitability, with a GAAP EPS of $0.04. Revenue increased by 20% year-over-year to $608 million for the quarter, and the full-year revenue grew by 17% to $2.23 billion. Notably, U.S. commercial revenue surged by 70% year-over-year. Palantir also highlighted a strong adjusted income from operations of $209 million, representing a 34% margin, and a robust adjusted free cash flow of $305 million, with a 50% margin. The company's cash, cash equivalents, and short-term U.S. treasury securities stood at $3.7 billion. Looking ahead, Palantir provided guidance for Q1 2024, expecting revenue between $612 - $616 million and adjusted income from operations of $196 - $200 million. For the full year 2024, the company anticipates revenue between $2.652 - $2.668 billion, with U.S. commercial revenue expected to exceed $640 million, and adjusted income from operations between $834 - $850 million.
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