Palantir Technologies Inc. (NYSE: PLTR) shares fell in the premarket on Monday after the company forecasted second-quarter revenue below Wall Street expectations, indicating slowing sales growth. However, the company beat analysts’ revenue estimates in the first quarter of the fiscal year 2022.
The company anticipates second-quarter revenue of $470 million, representing a year-over-year increase of only 25%, compared to a 49 percent increase the previous year. Analysts predicted revenue of $483.9 million on average.
Furthermore, Palantir anticipates an adjusted operating margin of 20% for the current quarter, down from 31% last year.
At the time of writing, PLTR stock was trading at $7.72, a 18.51% loss.
Reported vs. Expected
EPS – a loss of $0.05 per share vs. $0.04 expected.
Revenue – $446.4 Million vs. $443.4 Million expected.
Q1 2022 Financial Highlights
- Total revenue grew 31% year-over-year to $446 million
- Commercial revenue grew 54% year-over-year.
- US commercial revenue grew 136% year-over-year.
- Government revenue grew 16% year-over-year.
- Customer count grew 86% year-over-year.
- Loss from operations of $(39) million, representing a margin of (9)%, up 2,400 basis points year-over-year and 500 basis points sequentially.
- Adjusted income from operations of $117 million, representing a margin of 26%.
- Cash from operations of $35 million, representing an 8% margin.
- Adjusted free cash flow of $30 million, representing a 7% margin.
- GAAP net loss per share, diluted of $(0.05).
- Adjusted earnings per share, diluted of $0.02.
Palantir Technologies’ most recent quarterly earnings report was on February 17th, 2022. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. The company’s revenue for the quarter was $432.90 million, compared to analysts’ expectations of $418.07 million. When compared to the same quarter last year, its quarterly revenue increased by 34.4%. Over the last year, Palantir Technologies has generated $0.27 earnings per share ($0.27 diluted earnings per share).