Tech

Palantir shares drop more than 15% after earnings

Key Points
  • Shares of Palantir fell more than 15% on Thursday.
  • The software company, known for its work with government agencies, beat revenue estimates but missed earnings expectations for the fourth quarter.
  • Its reported net loss was $156.19 million, wider than the $148.34 million during the year-earlier period.

In this article

Palantir Technologies CEO Alex Karp arrives at the "Tech for Good" Summit in Paris, France May 15, 2019.
Charles Platiau | Reuters

Shares of Palantir fell 15.8% on Thursday after the company reported mixed earnings results for the fourth quarter.

Here are the key numbers:

  • Earnings per share (EPS): 2 cents, adjusted vs. 4 cents estimated, according to a Refinitiv survey of analysts
  • Revenue: $433 million vs. $418 million estimated, according to Refinitiv

Palantir said it expects $443 million in revenue in the first quarter, while analysts had been expecting about $439 million, according to Refinitiv. It continues to expect annual revenue growth of 30% or more through 2025.

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But its reported net loss was $156.19 million, wider than the $148.34 million of the fourth quarter in 2020.

The software company, known for its work with government agencies, said that revenue increased 26% year over year and that it added 34 net new customers in the fourth quarter.

It also said it closed 64 deals in the quarter of $1 million or more, including 27 of which were at least $5 million and 19 of which were at least $10 million.

Palantir expanded its commercial business throughout 2021, with revenue up 34% year over year to $645 million. U.S. commercial revenue alone soared 102% with the customer count jumping 4.7 times to 80. In 2021, government revenue gained 47% to $897 million.

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