Hot Stock Palantir Technologies Gets Hotter After Q2 Earnings, Q3 Outlook

  • Palantir Technologies Inc PLTR reported second-quarter FY21 revenue growth of 49% year-on-year to $375.6 million, beating the analyst consensus of $353.23 million.
  • Revenue Drivers: U.S. commercial revenue grew 90% Y/Y. Palantir added 20 customers, growing 13% Q/Q. Commercial customer count increased 32% Q/Q.
  • Palantir closed 62 deals of $1 million or more, of which 30 contracts were worth $5 million or more and 21 deals at $10 million or above.
  • Margins: The adjusted operating margin expanded 2,000 bps to 31% as the costs rose 52.5% Y/Y. The adjusted EBITDA margin rose 1,900 bps to 32%.
  • Palantir held $2.4 billion in cash and equivalents and generated $23 million in operating cash flow and $50 million in adjusted free cash flow.
  • Adjusted EPS of $0.04 beat the analyst consensus of $0.03.
  • Outlook: Palantir sees Q3 revenue of $385 million above the analyst consensus of $376 million. It considers an adjusted operating margin of 22%.
  • Palantir raised FY21 adjusted free cash flow outlook to $300 million+ from $150 million+.
  • It continues to see annual revenue growth of 30% or greater for 2021 through 2025.
  • Price Action: PLTR shares traded higher by 9.13% at $24.39 in the premarket session on the last check Thursday.

Posted In: BriefsEarningsLong IdeasNewsGuidanceMoversTechTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.