• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Palantir reported its third quarter results with over 30% growth in revenue

by Ayush Bansal
November 10, 2021 - Updated On December 15, 2021
in Business, Markets
Reading Time: 18 mins read
0
Palantir makes its Market Debut
TwitterWhatsappLinkedin

Palantir, a software maker of analytic tools for government and large corporations reported its third quarter ended on September 30, 2021, on Tuesday. That beat analyst expectations on revenue and met earnings estimates.

The Revenue grew over 35 per cent from last third quarter, which was $289 million compared to this corresponding quarter, which is $392 million. That’s a slowdown from two consecutive quarters of 49% year-over-year growth, but the company also provided a strong outlook for the current quarter. Palantir said it expects revenue for the fourth quarter to come in at $418 million, beating current Refinitiv estimates of $402 million.

Palantir added 34 net new customers in the third quarter and closed 33 deals worth $5 million or more and 18 deals valued at $10 million or more.

The cost of revenue decreased from $149 million to $86 million in the respective third quarter of 2020 and 2021 respective year.

Therefore, the gross profit is doubled from $140 million to $300 million from last quarter to this corresponding quarter.

Palantir
Credits: Palantir

In this quarter, the company also narrow its losses massively from the loss of $853 million to the loss of $102 million in the third quarter of 2020 and 2021 respectively.

During the quarter, U.S. commercial revenue grew 103% year over year and its commercial customer count was up 46% from the previous quarter, Palantir said. The company reported government revenue of $218 million.

The earning per share is dragged down in negative 5 cents per share from 94 cents per share.

Future Outlook (Q4)

For Q4 2021, we expect:

  • $418 million in revenue.
  • Adjusted operating margin of 22%.

For full-year 2021:

  • We expect revenue growth of 40% to $1.527 billion.
  • We are raising our outlook for adjusted free cash flow to in excess of $400 million, up from in excess of $300 million.

Per long-term guidance policy, as provided by our Chief Executive Officer, Alex Karp, we continue to expect:

  • Annual revenue growth of 30% or greater for 2021 through 2025.

 

Financial Statement:

 

You might also like

Ferrero Nears $3 Billion Deal to Acquire WK Kellogg, Stock Jumps After-Hours

Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

Deepinder Goyal Joins NCR’s Elite with Rs 52.3 Cr Apartment at DLF Camellias

Palantir Technologies Inc.

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2021

2020

2021

2020

Revenue

$

392,146

$

289,366

$

1,109,022

$

770,582

Cost of revenue (1)

86,804

149,340

251,841

282,044

Gross profit

305,342

140,026

857,181

488,538

Operating expenses:

Sales and marketing (1)

153,443

334,911

451,919

536,082

Research and development (1)

94,316

313,915

303,311

466,530

General and administrative (1)

149,524

338,977

454,054

503,033

Total operating expenses

397,283

987,803

1,209,284

1,505,645

Loss from operations

(91,941

)

(847,777

)

(352,103

)

(1,017,107

)

Interest income

379

494

1,127

4,312

Interest expense

(609

)

(2,085

)

(3,039

)

(12,325

)

Change in fair value of warrants

—

(9,201

)

—

811

Other income (expense), net

(8,528

)

(3,293

)

(11,297

)

1,218

Loss before provision (benefit) for income taxes

(100,699

)

(861,862

)

(365,312

)

(1,023,091

)

Provision (benefit) for income taxes

1,438

(8,543

)

(1,121

)

(5,043

)

Net loss

$

(102,137

)

$

(853,319

)

$

(364,191

)

$

(1,018,048

)

Net loss per share attributable to common stockholders, basic

$

(0.05

)

$

(0.94

)

$

(0.19

)

$

(1.43

)

Net loss per share attributable to common stockholders, diluted

$

(0.05

)

$

(0.94

)

$

(0.19

)

$

(1.43

)

Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, basic

1,964,395

905,462

1,893,911

713,879

Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, diluted

1,964,395

905,462

1,893,911

716,027

Tags: #Q3_earningsEarningsNYSEPalantir Technologies
Tweet54SendShare15
Previous Post

Workhorse reported its third quarter results, record loss

Next Post

NIO Inc. Reports Third Quarter 2021 Financial Results

Ayush Bansal

Recommended For You

Ferrero Nears $3 Billion Deal to Acquire WK Kellogg, Stock Jumps After-Hours

by Rounak Majumdar
July 10, 2025
0
Ferrero Nears $3 Billion Deal to Acquire WK Kellogg, Stock Jumps After-Hours

The renowned cereal producer WK Kellogg is going to be acquired by Ferrero, a $3.1 billion transaction, according to reports that caused its shares to soar after hours....

Read more

Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

by Rounak Majumdar
July 10, 2025
0
Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

Manipal Hospitals, one of India’s largest private healthcare providers, has announced its decision to acquire Pune-based Sahyadri Hospitals for approximately ₹6,400 crore. With this historic agreement, Manipal expands...

Read more

Deepinder Goyal Joins NCR’s Elite with Rs 52.3 Cr Apartment at DLF Camellias

by Ishaan Negi
July 10, 2025
0
Zomato Expands ESOPs, Grants 4.17 Crore Stock Options Worth ₹903.82 Cr

In a move that signals not just success but a clear stamp of entry into India’s ultra-luxury real estate club, Zomato founder and CEO Deepinder Goyal has purchased...

Read more
Next Post
China’s Nio affected by chip shortage, forecasts cut sales

NIO Inc. Reports Third Quarter 2021 Financial Results

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?