Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the third quarter ended September 30, 2021.
Q3 2021 Highlights
- Total revenue grew 36% year-over-year to $392 million
- Added 34 net new customers in Q3
- Commercial customer count grew 46% quarter-over-quarter
- US commercial revenue grew 103% year-over-year
- Cash flow from operations of $101 million, representing a 26% margin
- Adjusted free cash flow of $119 million, representing a 30% margin
- Closed 54 deals of $1 million or more, of which:
- Total remaining deal value grew 50% year-over-year to $3.6 billion
- GAAP net loss per share, diluted of $(0.05)
- Adjusted earnings per share, diluted of $0.04
Q1-Q3 2021 Highlights
- Total revenue grew 44% year-over-year to $1.1 billion
- Commercial customer count increased 135% since December 31, 2020
- Cash flow from operations of $240 million, representing a 22% margin
- Adjusted free cash flow of $320 million, representing a 29% margin
Q3 2021 Financial Summary
Outlook
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.
Palantir shares once rose nearly 5% in premarket trading.
