Stocks fell more than 9% in the pre-market.
Here are the key figures:
- Earnings per share: 4 cents, adjusted against expected 4 cents, according to Refinitiv analyst survey
- Returned: $ 341 million vs. $ 332.2 million expected, by Refinitiv
Co-founded in 2003 by Peter Thiel, Joe Lonsdale, CEO Alex Karp and others, Palantir has built its business largely on lucrative government deals for its data analysis software. The company said U.S. government revenue increased 83% year over year. It also strengthened its business segment in the quarter, with strong US trading revenue growth, up 72% year-over-year.
The company said the average revenue per customer rose to $ 8.1 million. In its fourth quarter report, the company said average revenue for 2020 was $ 7.9 million. During the last quarter, Palantir had 149 clients. The company first revealed in its prospectus last fall that it had 125 customers in the first half of 2020.
Palantir partially attributed the quarter’s growth to economic recovery in the US and UK, which helped drive business growth.
Palantir said it expects to generate revenue of $ 360 million in the second quarter. That’s more than Refinitiv’s analysts estimate of $ 344.3 million. For the full year, the company forecasts adjusted free cash flow in excess of $ 150 million. The company also reaffirmed that it expects annual revenue growth of 30% or more between 2021 and 2025.
The company went public last September through a direct listing on the New York Stock Exchange with an opening trade of $ 10 per share. The initial price gave Palantir a market cap of $ 16.5 billion, and the company’s value has since skyrocketed. It was worth $ 30.44 billion at Monday’s close.
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