Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” summit in Paris, France, May 15, 2019.
Charles Platiau | Reuters
Shares of Palantir plunged more than 15% in premarket Monday after the company issued a weaker-than-expected revenue outlook and missed its first-quarter earnings bottom line.
Here are the key numbers:
- Earnings per share (EPS): 2 hundred adj. vs 4 cents expected, according to a Refinitiv survey of analysts
- Revenue: $446 million vs $443 million expected, per Refinitiv
Palantir said it expects $470 million in revenue for the current quarter, which is lower than analysts’ expectations of $483.7 million, per FactSet. The software company, known for its work with the government, said there is a “wide range of potential benefits” in its guidance “including those driven by our role in responding to developing geopolitical events”.
It reported a net loss of $101.38 million for the quarter, an improvement from $156.19 million in the fourth quarter of 2021.
For the full year 2022, it continues to anticipate an adjusted operating margin of 27%. It also projects annual revenue growth of 30% or more through 2025.
Revenue for the quarter increased 31% year-on-year to $446 million. Commercial revenue for the period increased 54% from the same quarter a year ago, while government revenue increased 16%. The company’s customer base grew 86% year over year.
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