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Source: Bro Crock, Shutterstock
Summary
- The data analytic firm went public on NYSE in September 2021 through a direct listing.
- Palantir’s revenue in 2020 rose 47 percent year-over-year to US$1.09 billion.
- The Denver-based company anticipates its first quarter 2021 revenue to grow to 45 percent.
Data analytic firm Palantir Technologies Inc. (NYSE:PLTR) made its Wall Street debut last year and saw its share price grow as much as 350 percent since the listing.
The Denver-based company was founded in 2003. It makes software for counterterrorism operations and data analytic platforms for companies.
The company developed Palantir Gotham platform for customers in government agencies and intelligence sector, while it supports commercial customers through the Foundry platform.
Gotham is used by the U.S. defense agencies and its allies to investigate potential threats including terrorist attacks. In 2017, Palantir teamed up with Airbus and launched aviation data platform Skywise.
Palantir started trading on the New York Stock Exchange (NYSE) after going public via direct listing on September 30 last year. The shares, which started trading at US$10, rallied over 133 percent to close at US$23.34 on April 12.
In January 2021, the stock hit its 52-week high of US$45.
Source: Refinitiv, Palantir stock performance since September 2020.
Here, we explore how the company financials during 2020 and what it is anticipating the coming year.
Palantir Financials
Palantir reported a 47 percent year-over-year (YoY) growth in its revenue to US$1.09 billion during the year ended Dec. 31 from US$742.6 million in 2019.
Government contracts accounted for 56 percent of its revenue while the remaining came from commercial segments. The company made 52 percent of its revenue from customers in the U.S.
Palantir’s average revenue per customer rose 41 percent during the year to US$7.9 million from US$5.6 million in the year-ago period.
Income from operations was US$189.9 million in 2020, up from losses from operations of US$334.5 million in 2019.
Palantir’s direct research and development expense in 2020 increased to US$560.7 million from US$305.6 million in 2019.
Source: Pixabay
For the full year 2021, the company projects its revenue to grow more than 30 percent YoY. In the first quarter ended March 31, Palantir forecasted the revenue to increase by 45 percent YoY.
Meanwhile, the revenue is anticipated to reach US$4 billion by 2025 with a 30 percent annual growth rate in five years.
