Palantir Reports Q4 2024 Revenue Growth of 36% Y/Y, U.S. Revenue Growth of 52% Y/Y; Issues FY 2025 Revenue Guidance of 31% Y/Y Growth.
"We are still in the earliest stages, the beginning of the first act, of a revolution that will play out over years and decades.
And the momentum we are seeing across sectors, both commercial and government, is unlike anything that has come before."
Palantir up 24% after hours
Kindest Regards,
Happy Hunting
Palantir’s performance this last quarter was way ahead of my expectations (I sold out at $45/share).
I do find it interesting that Ex-US was sequentially negative again this quarter, now -3% effect on total revenue growth by my estimation.
Best
Jason
Ok talk about re-acceleration across the board! Virtually all metrics compared favourably QoQ as well as YoY and this was supposed to be the quarter where Palantir was lapping AIP Bootcamp takeoff compares a year back.
Q4 metrics & comparison:-
Revenue growth - accelerated to $827.52M (+36.0% Y/Y) and up 14% QoQ from Q3 Revenue of $725.52M (+30.0% Y/Y)
Commercial revenue growth was 31% YoY to $372m (up from 27% growth to $317m in Q3) and Gov revenue growth 40% YoY to $455m (vs 40% growth to $320m in Q3)
US Commercial revenue growth was 64% to $214m (up from 54% to $179m in Q3) and US Gov revenue growth 45% to $343m (up from Q3’s 40% growth to $320m)
Closed 129 deals of at least $1 million (up from 104 & 96 in prior quarters), 58 deals of at least $5 million (up from 36 and 33 in prior quarters), and 32 deals of at least $10 million (up from 16 and 27 in prior quarters)
Customer count grew 43% year-over-year and 13% quarter-over-quarter (up from 36% growth and 6% sequential in Q3)
US Commercial Total Remaining Deal Value increased 99% YoY and 47% sequentially (up from 73% and 7% sequentially in Q3)
RPO ended Q4 at $1.73bn (up from $1.57bn in Q3)
Net dollar retention was 120% (up from 118% in Q3 and 114% in Q2)
Operating income reached $373m with 45% margin in Q4 vs $276m at 38% margin in Q3
Rule of 40 reached 81 up from 68 in Q3
Only real concerns apart from valuation was the lack of penetration/growth in Europe on the commercial side, the kick up in SBC and the GAAP Net Inc levels after the impact of SBCs and SARs.
As previously shared, I have been trimming Palantir as valuations have become extremely elevated at $55, $61, $85 and $105. This is still a top 5 (>5%) holding for me even after the latest top slicing and the last leg up to $105 was actually a spiffy pop.
The thread on previous Palantir results can be found here for tracking quarterly progress and comparison…
Ant
