DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the fourth quarter and fiscal year ended December 31, 2021.
Q4 2021 Highlights
- Total revenue grew 34% year-over-year to $433 million
- Commercial revenue grew 47% year-over-year
- US commercial revenue grew 132% year-over-year
- Government revenue grew 26% year-over-year
- Added 34 net new customers in Q4 2021
- Loss from operations of $(59) million, representing a margin of (14)%, up 3500 basis points year-over-year and 900 basis points sequentially
- Adjusted income from operations of $124 million, representing a margin of 29%
- Cash from operations of $93 million, representing a 22% margin
- Adjusted free cash flow of $104 million, representing a 24% margin
- Closed 64 deals of $1 million or more, of which:
- 27 deals are $5 million or more
- 19 deals are $10 million or more
- GAAP net loss per share, diluted of $(0.08)
- Adjusted net earnings per share, diluted of $0.02
FY 2021 Highlights
- Total revenue grew 41% year-over-year to $1.54 billion
- US revenue grew 53% year-over-year to $879 million
- Commercial revenue grew 34% year-over year to $645 million
- US commercial revenue grew 102% year-over-year
- Government revenue grew 47% to $897 million
- Commercial customer count tripled to 147 customers year-over-year
- US commercial customer count increased 4.7x to 80 customers year-over-year
- Total net dollar retention of 131%
- US commercial net dollar retention of 150%
- Government net dollar retention of 146%
- Cash from operations of $334 million, representing a 22% margin
- Adjusted free cash flow of $424 million, representing a 28% margin
Q4 and FY 2021 Financial Summary
(Amounts in thousands, except percentages and per share amounts) | Fourth Quarter | Full Year 2021 | |||||||||||
Amount | Amount | ||||||||||||
Revenue | $ | 432,867 | $ | 1,541,889 | |||||||||
Year-over-year growth | 34 | % | 41 | % | |||||||||
Amount | Margin | Amount | Margin | ||||||||||
Loss from operations | $ | (58,943 | ) | (14 | ) % | $ | (411,046 | ) | (27 | ) % | |||
Adjusted income from operations | $ | 124,033 | 29 | % | $ | 473,452 | 31 | % | |||||
Cash flow from operations | $ | 93,427 | 22 | % | $ | 333,851 | 22 | % | |||||
Adjusted free cash flow | $ | 104,196 | 24 | % | $ | 424,127 | 28 | % | |||||
Net loss | $ | (156,188 | ) | $ | (520,379 | ) | |||||||
Adjusted net income | $ | 45,397 | $ | 308,082 | |||||||||
Adjusted EBITDA | $ | 127,873 | 30 | % | $ | 488,349 | 32 | % | |||||
GAAP net loss per share, diluted | $ | (0.08 | ) | $ | (0.27 | ) | |||||||
Adjusted earnings per share, diluted | $ | 0.02 | $ | 0.13 | |||||||||
Outlook
For Q1 2022, we expect:
- $443 million in revenue.
- Adjusted operating margin of 23%.
For full year 2022, we expect:
- Adjusted operating margin of 27%.
Per long-term guidance policy, as provided by our Chief Executive Officer, Alex Karp, we continue to expect:
- Annual revenue growth of 30% or greater through 2025.
