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Benzinga
Benzinga
Business
Anusuya Lahiri

Palantir Technologies Clocks Strong Q4 Revenue Growth, 64 Deals More Than $1M

  • Palantir Technologies Inc (NYSE:PLTRreported fourth-quarter FY21 revenue growth of 34% year-on-year to $432.9 million, beating the consensus of $417.7 million.
  • Revenue Drivers: U.S. commercial revenue grew 132% Y/Y. Palantir added 34 net new customers. 
  • Palantir closed 64 deals of $1 million or more, of which 27 contracts were worth $5 million or more and 19 deals at $10 million or above. 
  • Margins: The adjusted operating margin contracted 300 bps to 29% as costs surged 24.2% Y/Y. The adjusted EBITDA margin declined 300 bps to 30%.
  • Palantir held $2.3 billion in cash and equivalents and generated $93.4 million in operating cash flow.
  • Adjusted EPS of $0.02 missed the consensus of $0.04.
  • Outlook: Palantir sees Q1 FY222 revenue of $443 million above the consensus of $439.2 million. 
  • It reiterated annual revenue growth of 30% or greater for 2021 through 2025.
  • Price Action: PLTR shares traded lower by 7.37% at $12.94 in the premarket session on the last check Thursday.
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