BioNTech (BNTX), Palantir (PLTR) revenue soars in Q3, raise outlook - Kalkine Media

November 09, 2021 08:52 AM PST | By Versha Jain
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Highlights

  • BioNTech SE (NASDAQ: BNTX) revenue rose to US$6.08 billion covid vaccine sales.

  • Palantir Technologies Inc. (NYSE: PLTR) revenue jumps 36% YoY to US$392 million.

  • Palantir raises outlook for fiscal 2021 after a strong quarterly performance. 

Healthcare company BioNTech SE (NASDAQ: BNTX) and technology company Palantir Technologies Inc. (NYSE: PLTR) on Tuesday reported strong revenue growth in their third quarter, helped by strong sales and favorable business environment.

The BNTX stock traded up at US$246.03, while PLTR stock was up at US$27.84 in the premarket session at 7:06 am ET on Tuesday.

Third-Quarter Highlights

BioNTech SE

The Mainz, Germany-headquartered company posted revenue of €6,087.3 million in the quarter ended September 30, 2021, compared to €67.5 million a year ago. The revenue increase was due to robust global demand for Covid-19 vaccines.

BioNTech’s commercial revenues were €6,040.1 million (euros). The operating profit was €4,723.5 million against a net loss of €186.4 million in the same quarter a year ago. The net income was €3,211.0 million against a net loss of €210.0 in Q3 of 2020. The earnings per share diluted rose to €12.35 against a loss of € (0.88) per share diluted for the Sep quarter of 2020.

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Outlook for Financial Year 2021

The company expects revenue from its covid drug Comirnaty to be upward of between €16 billion and €17 billion for fiscal 2021 on sales of about 2.5 billion doses.

BioNTech delivered over 2 billion doses of Comirnaty as of Nov 2, 2021. After receiving BLA approval from FDA, it obtained an EUA authorization for its covid drug on children.

Currently, its 15 product candidates are undergoing trials. It plans to present the "oncology pipeline" clinical data at the upcoming SITC annual meeting.

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Besides covid vaccines, BioNTech also manufactures drugs for other diseases like cancer. Its current market cap is US$58.8 billion, and its P/E ratio is 12.69. The stock gained 197.60% YTD. 

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Palantir Technologies Inc.

Palantir posted third-quarter revenue of US$392 million, a 36% increase YoY, compared to US$289 million in Q3 of the previous year. Its US commercial revenue increased 103% YoY.

The GAAP net loss was US$102 million compared to US$853 million in the third quarter of the previous year. The earnings per share diluted was US$(0.05) against US$(0.94) in Q3 of 2020. The adjusted net income was US$82 million or adjusted EPS diluted of US$0.04.

The operating loss was US$91.9 million compared to US$848 million a year ago. The adjusted operating income was US$116 million, with an adjusted operating margin of 30%.

The company's cash flow from operation was US$101 million and adjusted free cash flow was US$119 million in the quarter. Palantir added 34 net new customers in the reporting period. Its number of commercial customers increased by 46% QoQ. In addition, Palantir closed 54 deals in the quarter, of which 33 deals were of US$5 million or more and 18 deals were of US$10 million or more. The value of the remaining deals was US$3.6 billion.                                                    

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Fourth-Quarter Outlook

Palantir expects the revenue to be approximately US$418 million and adjusted operating margin to be 22% in Q4.

Outlook for full-year 2021


The revenue is expected to be US$1.527 billion, a 40% growth YoY. Its adjusted free cash flow is expected to be more than US$400 million against US$300 million a year ago.

The Denver, Colorado-based technology company provides solutions to manage large and disparate data sets so that clients gain insights and drive the outcome. In 2008, it released the Gotham Software for defense and government intelligence departments. 

Palantir has a market capitalization of US$50 billion. The stock grew by 13.59% YTD.

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Bottomline

The BioNTech stock is up on upbeat quarterly results. Additionally, it expects significant sales growth after FDA's emergency use authorization for its covid drug. Conversely, Palantir expects an over 30% jump in its annual revenue in the next four years through 2025 from the 2021 level. However, investors must analyze the company fundamentals before investing in stocks.


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