Palantir Technologies Inc
PLTR
$181.76 2.16%
Exchange: NASDAQ | Sector: Technology | Industry: Software Infrastructure
Q1 2024
Published: May 7, 2024

Earnings Highlights

  • Revenue of $634.34M up 20.8% year-over-year
  • EPS of $0.04 increased by 496.3% from previous year
  • Gross margin of 81.7%
  • Net income of 105.53M
  • ""We started the year exceedingly strong with revenue of $634 million, an increase of 21% year-over-year driven by the momentum of AIP..."" - Ryan Taylor
PLTR
Palantir Technologies Inc

Executive Summary

Palantir Technologies Inc (NYSE: PLTR) reported a robust Q1 2024, concluding with a revenue increase of 21% year-over-year to $634 million. This strong growth was propelled primarily by the adoption of its Artificial Intelligence Platform (AIP) and a notable upswing in the U.S. commercial sector. The company demonstrated continued profitability, marking its sixth consecutive quarter of net income, amounting to $106 million, representing significant year-over-year growth of 528%. Management emphasized their commitment to expanding customer engagements and derived value from AI technologies, positioning Palantir favorably against growing competitive pressures in the technology and defense sectors. Furthermore, strategic investments in technology infrastructure and customer relationships are expected to enhance operational scalability and revenue expansion moving forward.

Key Performance Indicators

Revenue
Increasing
634.34M
QoQ: 4.27% | YoY: 20.78%
Gross Profit
Increasing
518.08M
81.67% margin
QoQ: 3.68% | YoY: 24.08%
Operating Income
Increasing
80.88M
QoQ: 22.93% | YoY: 1 865.52%
Net Income
Increasing
105.53M
QoQ: 13.00% | YoY: 528.08%
EPS
Increasing
0.05
QoQ: 11.71% | YoY: 496.25%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 827.52 0.03 +36.0% View
Q3 2024 725.52 0.06 +30.0% View
Q2 2024 678.13 0.06 +27.2% View
Q1 2024 634.34 0.04 +20.8% View
Q4 2023 608.35 0.04 +19.6% View