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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)  

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