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December 2022
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November 2021
Exhibit 99.1
Palantir Reports Revenue Growth of 41% for FY 2021, US Commercial Revenue up 102% Y/Y in FY 2021
2/17/2022
DENVER (BUSINESS WIRE) Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the fourth quarter and fiscal year ended December 31, 2021.
Q4 2021 Highlights
| Total revenue grew 34% year-over-year to $433 million |
| Commercial revenue grew 47% year-over-year |
| US commercial revenue grew 132% year-over-year |
| Government revenue grew 26% year-over-year |
| Added 34 net new customers in Q4 2021 |
| Loss from operations of $(59) million, representing a margin of (14)%, up 3500 basis points year-over-year and 900 basis points sequentially |
| Adjusted income from operations of $124 million, representing a margin of 29% |
| Cash from operations of $93 million, representing a 22% margin |
| Adjusted free cash flow of $104 million, representing a 24% margin |
| Closed 64 deals of $1 million or more, of which: |
| 27 deals are $5 million or more |
| 19 deals are $10 million or more |
| GAAP net loss per share, diluted of $(0.08) |
| Adjusted net earnings per share, diluted of $0.02 |
FY 2021 Highlights
| Total revenue grew 41% year-over-year to $1.54 billion |
| US revenue grew 53% year-over-year to $879 million |
| Commercial revenue grew 34% year-over year to $645 million |
| US commercial revenue grew 102% year-over-year |
| Government revenue grew 47% to $897 million |
| Commercial customer count tripled to 147 customers year-over-year |
| US commercial customer count increased 4.7x to 80 customers year-over-year |
| Total net dollar retention of 131% |
| US commercial net dollar retention of 150% |
| Government net dollar retention of 146% |
| Cash from operations of $334 million, representing a 22% margin |
| Adjusted free cash flow of $424 million, representing a 28% margin |
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Palantir Technologies Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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The decrease in expenses was primarily due to a decrease in stock-based compensation non-recurring Interest Income Interest income decreased by $3.1 million for the year ended December 31, 2021 compared to 2020 primarily due to a reduction in U.S. interest rates on interest earned from our cash, cash equivalents, and restricted cash.
We define a customer in the Scale phase as any customer from which we recognized more than $100,000 in revenue in a calendar year and whose account had a positive contribution margin during the year at issue, as determined as of the end of the year.
In 2020, we generated $20.3 million in revenue from customers that were in the Expand phase as of the end of that year, with a contribution margin of (159)%.
In addition to the investments we have made in our platforms, we plan to continue to expand our ability to sell our subscriptions globally by investing in resources to address the business needs of local markets, including, increasing our sales and marketing functions and activities, expanding our ecosystem of service partners to support local deployments, and investing in personnel to support our growing customer base and product offerings.
In this phase, we operate at a loss, as measured by contribution margin, in order to drive future revenue growth and margin expansion.
Revenue associated with Palantir Cloud...Read more
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Interest Expense Interest expense decreased...Read more
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In this third phase, after...Read more
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Scale As customer accounts mature,...Read more
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Palantir Technologies Inc. provided additional information to their SEC Filing as exhibits
Ticker: PLTR
CIK: 1321655
Form Type: 10-K Annual Report
Accession Number: 0001193125-22-050913
Submitted to the SEC: Thu Feb 24 2022 6:20:34 AM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Prepackaged Software