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Palantir Reports Revenue Growth of 26% Y/Y for Q2 2022, US Commercial Revenue Up 120% Y/Y in Q2 2022
DENVER–(BUSINESS WIRE)– Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the second quarter ended June 30, 2022.
Q2 2022 Highlights
- Revenue grew 26% year-over-year to $473 million
- US revenue grew 45% year-over-year to $290 million
- Commercial revenue grew 46% year-over-year
- US commercial revenue grew 120% year-over-year
- US government revenue grew 27% year-over-year
- US commercial customer count increased 250% year-over-year, from 34 customers in Q2 2021 to 119 customers in Q2 2022
- Total contract value (“TCV”) closed of $792 million, including US TCV closed of $588 million
- Loss from operations of $(42) million, representing a margin of (9)%, up 3,000 basis points year-over-year
- Adjusted income from operations of $108 million, representing a margin of 23%
- Cash from operations of $62 million, representing a 13% margin
- Adjusted free cash flow of $61 million, representing a 13% margin
Q2 2022 TTM Highlights
- US revenue of $1.04 billion on a trailing-twelve-months (“TTM”) basis
- Cash from operations of $292 million, representing a 17% margin
- Adjusted free cash flow of $314 million, representing an 18% margin
Q2 2022 Financial Summary
| (Amounts in thousands, except percentages and per share amounts) | Second Quarter | |||||
| Amount | ||||||
| Revenue | $ | 473,010 | ||||
| Year-over-year growth | 26 | % | ||||
| Amount | Margin | |||||
| Loss from Operations | $ | (41,745 | ) | (9 | )% | |
| Adjusted Income from Operations | $ | 107,849 | 23 | % | ||
| Cash from Operations | $ | 62,431 | 13 | % | ||
| Adjusted Free Cash Flow | $ | 60,906 | 13 | % | ||
| Net Loss | $ | (179,329 | ) | |||
| Adjusted Net Income | $ | (21,120 | ) | |||
| Adjusted EBITDA | $ | 112,744 | 24 | % | ||
| GAAP Net Loss Per Share, Diluted | $ | (0.09 | ) | |||
| Adjusted Loss Per Share, Diluted | $ | (0.01 | ) |
