Palantir shares surged more than 15% in extended trading on Monday after the software company posted better-than-expected Q4 FY2022 earnings. Palantir reported $509M in revenue, up 18% YoY. U.S. revenue grew to $302M, up 19% YoY. The company also reported its first positive GAAP net income of $31M.
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- Palantir's Q4 Commercial revenue grew to $215M, up 11% YoY, while government revenue grew to $293M, up 23% YoY.
- Palantir's customer count grew 55% YoY and 9% QoQ.
- Full-year revenue was $1.91B, up 24% YoY; U.S. full-year revenue was $1.16B, up 32% YoY.
- Palantir provides services to several U.S. government entities, including the Central Intelligence Agency.
- Palantir's offerings include software to visualize an army's positions or help companies vet their supply chains.
- Palantir expects Q1 2023 revenue between $503M and $507M and full-year 2023 revenue between $2.18B and $2.23B.
- Palantir shares closed at $7.61 on Monday.