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Palantir (PLTR) 2021 Q1 Earnings. Should you Buy, Sell or Hold?

 

Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2021.

Q1 2021 Highlights

  • Total revenue grew 49% year-over-year to $341 million
  • US commercial revenue grew 72% year-over-year
  • US government revenue grew 83% year-over-year
  • Cash flow from operations of $117 million, up $404 million year-over-year, and representing a 34% margin
  • Adjusted free cash flow of $151 million, up $441 million year-over-year, and representing a 44% margin
  • GAAP net loss per share, diluted of $(0.07)
  • Adjusted earnings per share, diluted of $0.04

Q1 2021 Financial Summary

(in thousands, except percentages and per share amounts)

First Quarter 2021

Amount

Revenue

$

341,234

Year-over-year growth

49

%

Amount

Margin

Loss from Operations

$

(114,014

)

(33

)%

Adjusted Income from Operations

$

116,583

34

%

Cash Flow from Operations

$

116,881

34

%

Adjusted Free Cash Flow

$

150,975

44

%

Net Loss

$

(123,474

)

Adjusted Net Income

$

82,651

Adjusted EBITDA

$

119,820

GAAP Net Loss Per Share, Diluted

$

(0.07

)

Adjusted Earnings Per Share, Diluted

$

0.04

Outlook

For Q2 2021, we expect:

  • $360 million in revenue, representing year-over-year revenue growth of 43%.
  • Adjusted operating margin of 23%.

For full year 2021, we expect:

  • Adjusted free cash flow in excess of $150 million.

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 for 2021 through 2025.

Palantir Technologies Inc. builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. It offers Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. The company also provides Palantir Foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place. Palantir Technologies Inc. was founded in 2003 and is headquartered in Denver, Colorado.

CWEB Analyst’s have initiated a Strong BUY Rating for  Palantir Technologies Inc. (NYSE:PLTR) and potential upside of $69 in 2021. The fundamentals of the company are to strong and cash on hand has increased compare to previous quarter.   We believe Q2 and Q3 will be the real break for the company with more positive cash flow and new contracts.

PLTR

 

 

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