Palantir Technologies Inc
PLTR
$181.76 2.16%
Exchange: NASDAQ | Sector: Technology | Industry: Software Infrastructure
Q3 2023
Published: Nov 3, 2023

Earnings Highlights

  • Revenue of $558.16M up 16.8% year-over-year
  • EPS of $0.03 decreased by 155.4% from previous year
  • Gross margin of 80.7%
  • Net income of 71.51M
  • "'Our U.S. commercial business accelerated last quarter... growing 33% year-over-year.'" - Ryan Taylor
PLTR
Palantir Technologies Inc

Executive Summary

Palantir Technologies Inc (PLTR) reported a robust performance for Q3 2023, achieving a revenue of $558 million, reflecting a 17% year-over-year growth. The company marked its fourth consecutive quarter of GAAP profitability, a first on a trailing twelve-month basis, with net income reported at $72 million, representing a 13% net profit margin. The U.S. commercial business experienced a significant acceleration, growing by 33% year-over-year and 13% sequentially, driven by heightened demand for AI-driven solutions. This quarter's results underscore Palantir's commitment to innovation, particularly with its Artificial Intelligence Platform (AIP), which has rapidly transformed customer engagements and expanded its market footprint. Management is optimistic about maintaining revenue momentum into Q4 and beyond, projecting revenue between $599 million and $603 million, supported by strong demand across both government and commercial sectors.

Key Performance Indicators

Revenue
Increasing
558.16M
QoQ: 4.66% | YoY: 16.80%
Gross Profit
Increasing
450.24M
80.66% margin
QoQ: 5.59% | YoY: 21.60%
Operating Income
Decreasing
39.98M
QoQ: 296.89% | YoY: -164.29%
Net Income
Decreasing
71.51M
QoQ: 154.22% | YoY: -157.72%
EPS
Decreasing
0.03
QoQ: 150.76% | YoY: -155.44%

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
Q3 2023 558.16 0.03 +16.8% View