Palantir Technologies Inc (NYSE:PLTR) shares are trading lower by 10.5% at $12.50 during Thursday's pre-market session after the company reported worse-than-expected fourth-quarter EPS results.
Palantir Technologies reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 4 cents. The company reported quarterly sales of $432.87 million which beat the analyst consensus estimate of $417.69 million by 4%. This is a 34% increase over sales of $322.09 million in the same period last year.
Among the highlights for FY21, Palantir says total revenue grew 41% year-over-year to $1.54 billion, US revenue grew 53% year-over-year to $879 million and commercial revenue grew 34% year-over year to $645 million. For first-quarter 2022 Palantir expects $443 million in revenue.
Palantir provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes. Founded in 2003, Palantir released its Gotham software platform in 2008, which focuses on the government intelligence and defense sectors. Palantir expanded into various commercial markets with its Foundry software platform in 2016 with the intent of becoming the data operating system for companies and industries. The Denver company had 125 customers as of its initial public offering and roughly splits its revenue between commercial and government customers.
Palantir has a 52-week high of $30.19 and a 52-week low of $11.75.
