DENVER, Nov. 7, 2022
/PRNewswire/ -- Palantir Technologies Inc. (NYSE:PLTR) today
announced financial results for the third quarter ended
September 30, 2022.
"We beat expectations for revenue growth this quarter and expect
to have a strong finish to the year, even in the face of the
continued strength of the U.S. dollar," said Alexander C. Karp, Co-Founder and Chief
Executive Officer of Palantir Technologies Inc.
Q3 2022 Highlights
- Revenue grew 22% year-over-year to $478
million
- US revenue grew 31% year-over-year to $297 million
- US commercial revenue grew 53% y/y
- US government revenue grew 23% y/y
- Total contract value ("TCV") closed of $1.3 billion, including US TCV closed of
$1.1 billion
- Customer count grew 66% y/y and 11% q/q
- US commercial customer count increased 124% year-over-year,
from 59 customers in Q3 2021 to 132 customers in Q3 2022
- Loss from operations of $(62)
million, representing a margin of (13)%, up 1,000 basis
points year-over-year
- Adjusted income from operations of $81
million, representing a margin of 17%
- Cash from operations of $47
million, representing a 10% margin
- Adjusted free cash flow ("AFCF") of $37
million, representing an 8% margin
- This marks the 8th consecutive quarter of positive AFCF
Q3 2022 TTM Highlights
- US revenue of $1.11 billion on a
trailing-twelve-month ("TTM") basis, representing a 38% growth rate
y/y
- Government revenue of $1.02
billion on a TTM basis, representing a 20% growth rate y/y
and surpassing the $1 billion mark
for the first time in company history
- Cash from operations of $238
million, representing a 13% margin
- Adjusted free cash flow of $231
million, representing a 13% margin
Q3 2022 Financial Summary
(Amounts in
thousands, except percentages and per share amounts)
|
Third
Quarter
|
Amount
|
Revenue
|
$
477,880
|
|
|
Year-over-year
growth
|
22 %
|
|
|
|
|
|
|
|
Amount
|
|
Margin
|
Loss from
Operations
|
$
(62,191)
|
|
(13) %
|
Adjusted Income from
Operations
|
$
81,250
|
|
17 %
|
Cash from
Operations
|
$
47,066
|
|
10 %
|
Adjusted Free Cash
Flow
|
$
36,560
|
|
8 %
|
Net Loss
|
$
(123,875)
|
|
|
Adjusted Net
Income
|
$
16,075
|
|
|
Adjusted
EBITDA
|
$
87,192
|
|
18 %
|
GAAP Net Loss Per
Share, Diluted
|
$
(0.06)
|
|
|
Adjusted Earnings Per
Share, Diluted
|
$
0.01
|
|
|
Outlook
For full year 2022:
We are reaffirming our revenue guidance of $1.9 - $1.902
billion despite a negative $6
million currency impact since our prior quarter's
guidance.
- Excluding such impact, we would expect full year 2022 revenue
of $1.906 - $1.908 billion.
We are raising our outlook for adjusted income from operations
to between $384 - $386 million.
For Q4 2022:
After factoring in a negative $5
million currency impact since our prior quarter's guidance,
we expect revenue of $503 -
$505 million.
- Excluding such impact, we would expect fourth quarter revenue
of $508 - $510
million.
We expect adjusted income from operations of $78 - $80
million.
CEO Letter
Palantir CEO Alex Karp's
quarterly letter to shareholders is available through Palantir's
website at https://www.palantir.com/q3-2022-letter.
Earnings Webcast
A live public webcast will be held at 6:00 a.m. MT / 8:00 a.m.
ET today to discuss the results for our third quarter ended
September 30, 2022 and financial
outlook. The webcast can be accessed by registering online at
https://palantir.events/palantir-2022-q3. A replay of the webcast
will be available at https://investors.palantir.com following the
event.
An investor presentation, including supplemental financial
information and reconciliations of certain non-GAAP measures to
their nearest comparable GAAP measures, will be available through
Palantir's Investor Relations website at
https://investors.palantir.com.
Forward-Looking Statements
This press release and statements on our earnings webcast
contain "forward-looking statements" within the meaning of the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
regarding our financial outlook, product development, distribution,
and pricing, expected benefits of and applications for our software
platforms, business strategy, and plans (including strategy and
plans relating to our sales and marketing efforts, sales force,
partnerships, and customers), investments in our business, market
trends and market size, opportunities (including growth
opportunities), our expectations regarding our recent and potential
investments in, and commercial contracts with, various entities,
including special purpose acquisition companies and other
privately-held or publicly-traded companies, our expectations
regarding macroeconomic events and foreign currency fluctuations,
and positioning. These forward-looking statements are made as of
the date they were first issued and were based on current
expectations, estimates, forecasts, and projections as well as the
beliefs and assumptions of management. Words such as "guidance,"
"expect," "anticipate," "should," "believe," "hope," "target,"
"project," "plan," "goals," "estimate," "potential," "predict,"
"may," "will," "might," "could," "intend," "shall," and variations
of these terms or the negative of these terms and similar
expressions are intended to identify these forward-looking
statements. Forward-looking statements are subject to a number of
risks and uncertainties, many of which involve factors or
circumstances that are beyond our control. Our actual results could
differ materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to
risks detailed in our filings with the Securities and Exchange
Commission (the "SEC"), including in our annual report on Form 10-K
for the fiscal year ended December 31,
2021 and other filings and reports that we may file from
time to time with the SEC, including our quarterly report on Form
10-Q for the fiscal quarter ended September
30, 2022. In particular, the following factors, among
others, could cause our results to differ materially from those
expressed or implied by such forward-looking statements: our
ability to successfully execute our business and growth strategy;
the sufficiency of our cash and cash equivalents to meet our
liquidity needs; the demand for our platforms in general; our
ability to increase our number of new customers and revenue
generated from customers; our ability to realize some or all of the
total contract value of customer contracts as revenue, including
any contractual options available to customers or contractual
periods that are subject to termination for convenience provisions;
our long and unpredictable sales cycle; our ability to successfully
grow our direct sales force and to successfully execute our channel
sales and other strategic initiatives with third parties; our
ability to retain and expand our customer base; the fluctuation of
our results of operations and our key business measures on a
quarterly basis in future periods; the seasonality of our business;
the implementation process for our platforms, which may be complex
and lengthy; our ability to successfully develop and deploy new
technologies to address the needs of our existing or prospective
customers; our ability to make our platforms easier to install and
consume; our ability to maintain and enhance our brand and
reputation; our ability to maintain and enhance our culture as our
business grows; news or social media coverage about us, including
but not limited to coverage that presents, or relies on,
inaccurate, misleading, incomplete, or otherwise damaging
information; the impact of recent or future global macroeconomic
and geopolitical events, such as Russia's invasion of Ukraine, foreign currency fluctuations, or
rising inflation or interest rates in the U.S. and in other
countries, on the business and operations of our company or of our
existing or prospective customers and partners; and any breach or
access to customer or third-party data.
The forward-looking statements included in this press release
represent our views as of the date of this press release. We
anticipate that subsequent events and developments will cause our
views to change. We undertake no intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise. These forward-looking
statements should not be relied upon as representing our views as
of any date subsequent to the date of this press release. Past
performance is not necessarily indicative of future results.
Additional Definitions
For the purpose of this press release and our earnings webcast,
the value of deals closed and TCV closed each reflect the total
contract value of contracts that have been entered into with, or
awarded by, our government and commercial customers.
The value of deals closed and TCV closed include existing
contractual obligations and presume the exercise of all contract
options available to our customers and no termination of contracts;
however, the majority of our contracts are subject to termination
provisions, including for convenience, and there can be no
guarantee that contracts are not terminated or that contract
options will be exercised.
Non-GAAP Financial Measures
This press release and the accompanying tables contain the
non-GAAP financial measures adjusted income from operations, which
excludes stock-based compensation and related employer payroll
taxes; adjusted operating margin; adjusted free cash flow; adjusted
free cash flow margin; adjusted earnings before interest, taxes,
depreciation, and amortization ("adjusted EBITDA"); adjusted EBITDA
margin; adjusted net income; and adjusted earnings per share
("EPS"), diluted.
We believe these non-GAAP financial measures and other metrics
described in this press release help us evaluate our business,
identify trends affecting Palantir's business, formulate business
plans and financial projections, and make strategic decisions. We
exclude stock-based compensation, which is a non-cash expense, from
these non-GAAP financial measures because we believe that excluding
this item provides meaningful supplemental information regarding
operational performance and provides useful information to
investors and others in understanding and evaluating our operating
results in the same manner as our management team. We exclude
employer payroll taxes related to stock-based compensation as it is
difficult to predict and outside of Palantir's control.
Our definitions may differ from the definitions used by other
companies and therefore comparability may be limited. In addition,
other companies may not publish these or similar metrics. Further,
these metrics have certain limitations as they do not include the
impact of certain expenses that are reflected in our consolidated
statements of operations. For example, adjusted free cash flow does
not reflect our future contractual commitments or the total
increase or decrease in our cash balances for a given period. Thus,
our non-GAAP financial measures should be considered in addition
to, not as a substitute for, or in isolation from, measures
prepared in accordance with GAAP.
We compensate for these limitations by providing a
reconciliation of each of these non-GAAP measures to the most
comparable GAAP measure. We encourage investors and others to
review our business, results of operations, and financial
information in their entirety, not to rely on any single financial
measure, and to view these non-GAAP measures in conjunction with
the most directly comparable GAAP financial measure.
A reconciliation table of the most comparable GAAP financial
measure to each non-GAAP financial measure used in this press
release is included at the end of this release. A reconciliation of
non-GAAP guidance measures to corresponding GAAP measures is not
available on a forward-looking basis without unreasonable effort
due to the uncertainty regarding, and the potential variability of,
reconciling items that may be incurred in the future, such as
stock-based compensation and related employer payroll taxes, the
effect of which may be significant.
For the purpose of this press release and our earnings webcast,
we have estimated the impact of foreign currency rates as a result
of the general strengthening of the U.S. Dollar ("USD") during the
current period and as anticipated for the remainder of fiscal year
2022, by applying (i) the difference between the currency rates in
effect for the initial month of the current period and the currency
rates in effect or anticipated to be in effect for each subsequent
month during the impacted period to (ii) the actual or projected
revenue associated with each month during the impacted period.
Available Information
Palantir uses its Investor Relations website at
https://investors.palantir.com as a means of disclosing material
non-public information and for complying with its disclosure
obligations under Regulation FD. Accordingly, investors should
monitor Palantir's Investor Relations website, in addition to
following our press releases, SEC filings, public conference calls,
and webcasts.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional
information is available at https://www.palantir.com.
Contact
Investor Relations
investors@palantir.com
Media
media@palantir.com
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,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Revenue
|
$
477,880
|
|
$
392,146
|
|
$ 1,397,247
|
|
$ 1,109,022
|
Cost of revenue
(1)
|
107,611
|
|
86,804
|
|
304,238
|
|
251,841
|
Gross profit
|
370,269
|
|
305,342
|
|
1,093,009
|
|
857,181
|
Operating
expenses:
|
|
|
|
|
|
|
|
Sales and marketing
(1)
|
182,918
|
|
153,443
|
|
512,278
|
|
451,919
|
Research and
development (1)
|
100,863
|
|
94,316
|
|
277,635
|
|
303,311
|
General and
administrative (1)
|
148,679
|
|
149,524
|
|
446,471
|
|
454,054
|
Total operating
expenses
|
432,460
|
|
397,283
|
|
1,236,384
|
|
1,209,284
|
Loss from
operations
|
(62,191)
|
|
(91,941)
|
|
(143,375)
|
|
(352,103)
|
Interest
income
|
5,540
|
|
379
|
|
7,559
|
|
1,127
|
Interest
expense
|
(1,082)
|
|
(609)
|
|
(2,346)
|
|
(3,039)
|
Other income (expense),
net
|
(65,046)
|
|
(8,528)
|
|
(260,714)
|
|
(11,297)
|
Loss before provision
for (benefit from) income taxes
|
(122,779)
|
|
(100,699)
|
|
(398,876)
|
|
(365,312)
|
Provision for (benefit
from) income taxes
|
1,096
|
|
1,438
|
|
5,707
|
|
(1,121)
|
Net loss
|
$
(123,875)
|
|
$
(102,137)
|
|
$
(404,583)
|
|
$
(364,191)
|
Net loss per share
attributable to common stockholders, basic
|
$
(0.06)
|
|
$
(0.05)
|
|
$
(0.20)
|
|
$
(0.19)
|
Net loss per share
attributable to common stockholders, diluted
|
$
(0.06)
|
|
$
(0.05)
|
|
$
(0.20)
|
|
$
(0.19)
|
Weighted-average shares
of common stock outstanding used in computing net loss per share
attributable to common stockholders, basic
|
2,073,265
|
|
1,964,395
|
|
2,054,926
|
|
1,893,911
|
Weighted-average shares
of common stock outstanding used in computing net loss per share
attributable to common stockholders, diluted
|
2,073,265
|
|
1,964,395
|
|
2,054,926
|
|
1,893,911
|
—————
|
(1) Includes stock-based compensation
expense as follows (in thousands):
|
|
Three Months Ended
September
30,
|
|
Nine Months Ended
September
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Cost of
revenue
|
$
10,525
|
|
$
14,860
|
|
$
33,413
|
|
$
54,866
|
Sales and
marketing
|
48,824
|
|
57,124
|
|
147,501
|
|
186,418
|
Research and
development
|
25,113
|
|
34,472
|
|
76,996
|
|
122,976
|
General and
administrative
|
55,846
|
|
78,379
|
|
177,490
|
|
247,048
|
Total stock-based
compensation
|
$
140,308
|
|
$
184,835
|
|
$
435,400
|
|
$
611,308
|
Palantir Technologies
Inc.
|
Condensed Consolidated
Balance Sheets
|
(in thousands)
|
(unaudited)
|
|
|
As of September
30,
|
|
As of December
31,
|
|
2022
|
|
2021
|
Assets
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
2,411,290
|
|
$
2,290,674
|
Restricted
cash
|
20,557
|
|
36,628
|
Accounts receivable,
net
|
343,264
|
|
190,923
|
Marketable
securities
|
57,342
|
|
234,153
|
Prepaid expenses and
other current assets
|
114,157
|
|
110,872
|
Total current
assets
|
2,946,610
|
|
2,863,250
|
Property and equipment,
net
|
57,822
|
|
31,304
|
Restricted cash,
noncurrent
|
20,902
|
|
39,612
|
Operating lease
right-of-use assets
|
199,359
|
|
216,898
|
Other assets
|
94,142
|
|
96,386
|
Total assets
|
$
3,318,835
|
|
$
3,247,450
|
Liabilities and
Stockholders' Equity
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts
payable
|
$
59,507
|
|
$
74,907
|
Accrued
liabilities
|
164,697
|
|
155,806
|
Deferred
revenue
|
189,771
|
|
227,816
|
Customer
deposits
|
234,142
|
|
161,605
|
Operating lease
liabilities
|
40,233
|
|
39,927
|
Total current
liabilities
|
688,350
|
|
660,061
|
Deferred revenue,
noncurrent
|
31,383
|
|
40,217
|
Customer deposits,
noncurrent
|
5,533
|
|
33,699
|
Operating lease
liabilities, noncurrent
|
204,903
|
|
220,146
|
Other noncurrent
liabilities
|
2,051
|
|
2,297
|
Total
liabilities
|
932,220
|
|
956,420
|
Stockholders'
equity:
|
|
|
|
Common stock
|
2,080
|
|
2,027
|
Additional paid-in
capital
|
8,284,686
|
|
7,777,085
|
Accumulated other
comprehensive loss
|
(9,835)
|
|
(2,349)
|
Accumulated
deficit
|
(5,890,316)
|
|
(5,485,733)
|
Total stockholders'
equity
|
2,386,615
|
|
2,291,030
|
Total liabilities and
stockholders' equity
|
$
3,318,835
|
|
$
3,247,450
|
Palantir Technologies
Inc.
|
Condensed Consolidated
Statements of Cash Flows
|
(in thousands)
|
(unaudited)
|
|
|
Nine Months Ended
September 30,
|
|
2022
|
|
2021
|
Operating
activities
|
|
|
|
Net loss
|
$
(404,583)
|
|
$
(364,191)
|
Adjustments to
reconcile net loss to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
15,149
|
|
11,057
|
Stock-based
compensation
|
435,400
|
|
611,308
|
Deferred income
taxes
|
(31)
|
|
337
|
Non-cash operating
lease expense
|
30,130
|
|
23,417
|
Unrealized and realized
(gain) loss from marketable securities, net
|
260,720
|
|
7,238
|
Other operating
activities
|
2,344
|
|
3,076
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
(154,591)
|
|
(15,412)
|
Prepaid expenses and
other current assets
|
(5,780)
|
|
(7,872)
|
Other
assets
|
10,490
|
|
(7,032)
|
Accounts
payable
|
(15,165)
|
|
1,158
|
Accrued
liabilities
|
(828)
|
|
20,360
|
Deferred revenue,
current and noncurrent
|
(44,912)
|
|
(3,781)
|
Customer deposits,
current and noncurrent
|
44,263
|
|
(16,227)
|
Operating lease
liabilities, current and noncurrent
|
(27,437)
|
|
(22,786)
|
Other noncurrent
liabilities
|
(195)
|
|
(226)
|
Net cash provided by
operating activities
|
144,974
|
|
240,424
|
Investing
activities
|
|
|
|
Purchases of property
and equipment
|
(35,109)
|
|
(6,783)
|
Purchases of marketable
securities
|
(124,500)
|
|
(155,315)
|
Proceeds from sales of
marketable securities
|
36,482
|
|
—
|
Proceeds from
redemption of marketable securities
|
4,619
|
|
—
|
Purchases of
alternative investments
|
—
|
|
(50,941)
|
Other investing
activities
|
—
|
|
(3,000)
|
Net cash used in
investing activities
|
(118,508)
|
|
(216,039)
|
Financing
activities
|
|
|
|
Principal payments on
borrowings
|
—
|
|
(200,000)
|
Proceeds from the
exercise of common stock options
|
72,108
|
|
474,683
|
Other financing
activities
|
(269)
|
|
(401)
|
Net cash provided by
financing activities
|
71,839
|
|
274,282
|
Effect of foreign
exchange on cash, cash equivalents, and restricted cash
|
(12,470)
|
|
(3,638)
|
Net increase in cash,
cash equivalents, and restricted cash
|
85,835
|
|
295,029
|
Cash, cash equivalents,
and restricted cash - beginning of period
|
2,366,914
|
|
2,128,146
|
Cash, cash equivalents,
and restricted cash - end of period
|
$
2,452,749
|
|
$
2,423,175
|
Palantir Technologies Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
Non-GAAP Reconciliations
Adjusted Income from Operations and Adjusted Operating
Margin (in thousands, except percentages)
|
Three Months
Ended
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Loss from
operations
|
$ (62,191)
|
|
$ (91,941)
|
|
$
(143,375)
|
|
$
(352,103)
|
Add: stock-based
compensation
|
140,308
|
|
184,835
|
|
435,400
|
|
611,308
|
Add: employer payroll
taxes related to stock-based compensation
|
3,133
|
|
23,215
|
|
14,464
|
|
90,214
|
Adjusted income from
operations
|
$
81,250
|
|
$ 116,109
|
|
$ 306,489
|
|
$ 349,419
|
Adjusted operating
margin
|
17 %
|
|
30 %
|
|
22 %
|
|
32 %
|
Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin
(in thousands, except percentages)
|
Three Months
Ended
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Net cash provided by
operating activities
|
$
47,066
|
|
$ 100,793
|
|
$ 144,974
|
|
$ 240,424
|
Add: cash paid for
employer payroll taxes related to stock-based
compensation
|
3,930
|
|
23,717
|
|
17,387
|
|
86,289
|
Less: purchases of
property and equipment
|
(14,436)
|
|
(5,377)
|
|
(35,109)
|
|
(6,782)
|
Adjusted free cash
flow
|
$
36,560
|
|
$ 119,133
|
|
$ 127,252
|
|
$ 319,931
|
Adjusted free cash flow
margin
|
8 %
|
|
30 %
|
|
9 %
|
|
29 %
|
Adjusted EBITDA (in thousands)
|
Three Months
Ended
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Net loss
|
$
(123,875)
|
|
$
(102,137)
|
|
$
(404,583)
|
|
$
(364,191)
|
Less: interest
income
|
(5,540)
|
|
(379)
|
|
(7,559)
|
|
(1,127)
|
Add: interest
expense
|
1,082
|
|
609
|
|
2,346
|
|
3,039
|
Add: other (income)
expense, net
|
65,046
|
|
8,528
|
|
260,714
|
|
11,297
|
Add: provision for
(benefit from) income taxes
|
1,096
|
|
1,438
|
|
5,707
|
|
(1,121)
|
Add: depreciation and
amortization
|
5,942
|
|
3,058
|
|
15,149
|
|
11,057
|
Add: stock-based
compensation
|
140,308
|
|
184,835
|
|
435,400
|
|
611,308
|
Add: employer payroll
taxes related to stock-based compensation
|
3,133
|
|
23,215
|
|
14,464
|
|
90,214
|
Adjusted
EBITDA
|
$
87,192
|
|
$
119,167
|
|
$
321,638
|
|
$
360,476
|
Palantir Technologies Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
Adjusted Earnings Per Share, Diluted (in thousands, except
per share amounts)
|
Three Months
Ended
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Net loss
|
$
(123,875)
|
|
$
(102,137)
|
|
$
(404,583)
|
|
$
(364,191)
|
Add: stock-based
compensation
|
140,308
|
|
184,835
|
|
435,400
|
|
611,308
|
Add: employer payroll
taxes related to stock-based compensation
|
3,133
|
|
23,215
|
|
14,464
|
|
90,214
|
Add (less): income tax
effect and adjustments (1)
|
$
(3,491)
|
|
$
(23,834)
|
|
$
(5,613)
|
|
$
(74,647)
|
Adjusted net income
attributable to common stockholders, diluted
|
16,075
|
|
82,079
|
|
39,668
|
|
262,684
|
Weighted-average shares
used in computing GAAP net loss per share, diluted
|
2,073,265
|
|
1,964,395
|
|
2,054,926
|
|
1,893,911
|
Adjusted
weighted-average shares used in computing adjusted earnings per
share, diluted (2)
|
2,142,506
|
|
2,341,270
|
|
2,156,288
|
|
2,329,889
|
Adjusted earnings per
share, diluted
|
$
0.01
|
|
$
0.04
|
|
$
0.02
|
|
$
0.11
|
————
|
(1)
|
Income tax effect is
based on long-term estimated annual effective tax rates of 22.2%
for the periods ended 2022 and 2021.
|
(2)
|
Includes an additional
69 million and 101 million dilutive securities for the
three and nine months ended September 30, 2022, respectively, and
an additional 377 million and 436 million dilutive
securities for the three and nine months ended September 30, 2021,
respectively, that were excluded from a GAAP perspective due to the
Company's net loss position.
|
Calculations of Foreign Exchange Rate Impacts (in
thousands)
|
Three Months
Ended
September
30, 2022
|
|
Three Months
Ended December
31, 2022
(Guidance
Midpoint)
|
|
Fiscal Year
Ended December
31, 2022
(Guidance
Midpoint)
|
Revenue
|
$
477,880
|
|
$
503,753
|
|
$
1,901,000
|
Add: currency impact
(1)
|
1,359
|
|
4,607
|
|
5,966
|
Revenue with currency
impact
|
$
479,239
|
|
$
508,360
|
|
$
1,906,966
|
————
|
(1)
|
The currency impact is
calculated by applying (i) the difference between the currency
rates in effect for the initial month of the current period and the
currency rates in effect or anticipated to be in effect for each
subsequent month of the impacted period to (ii) the actual or
expected revenue associated with such month of the impacted
period.
|
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SOURCE PALANTIR TECHNOLOGIES INC.