PALANTIR TECHNOLOGIES Reports Record Earnings for FY2023 Q2
August 24, 2023
🌥️Earnings Overview
On August 7th 2023, PALANTIR TECHNOLOGIES ($NYSE:PLTR) revealed their financial report for the second quarter of FY2023, ending June 30th 2023. Total revenue for the quarter was USD 533.3 million, representing a 12.8% year-on-year growth. Net income stood at USD 28.1 million, surging 115.7% compared to the same period in the previous year.
Price History
On Monday, PALANTIR TECHNOLOGIES reported their financials for fiscal year 2023’s second quarter. The company reported a record of earnings that exceeded analyst expectations. Their stock opened at $18.2 and closed at $18.0, which was a 1.2% decrease from its last closing price of $18.2. The company attributed the improved performance to their increased investments in software development and engineering teams, which has allowed them to introduce new products and solutions to the market.
Additionally, they have been able to increase their customer base by expanding into new markets. They also highlighted the successful launch of their latest product, Palantir Foundry, which has been well-received in the industry. The company plans to continue to invest in software development and engineering teams in order to stay ahead of the competition and to develop new products and services that will help them remain at the forefront of their industry. With such strong financial performance in the second quarter, PALANTIR TECHNOLOGIES is well-positioned for continued success in the coming quarters and fiscal years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Palantir Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 2.05k | -48.07 | -2.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Palantir Technologies. More…
| Operations | Investing | Financing |
| 403.4 | -1.9k | 154.81 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Palantir Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.98k | 945.13 | 1.37 |
Key Ratios Snapshot
Some of the financial key ratios for Palantir Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.4% | – | -1.4% |
| FCF Margin | ROE | ROA |
| 18.4% | -0.6% | -0.5% |
Analysis
GoodWhale recently conducted an analysis of the wellbeing of PALANTIR TECHNOLOGIES. After our assessment, it was determined that PALANTIR TECHNOLOGIES is a medium risk investment in terms of financial and business aspects. We were able to detect three risk warnings in the income sheet, balance sheet, and cashflow statement. If you would like to learn more about the specific risks we have identified, please register with us. Our team will help you to better understand the financial data associated with this particular company. More…
Peers
There is a lot of competition between Palantir Technologies Inc and its competitors: Snowflake Inc, Splunk Inc, Alteryx Inc. All of these companies are fighting for a piece of the market share in the data analytics industry.
– Snowflake Inc ($NYSE:SNOW)
Snowflake is a cloud-based data warehousing company. Its market cap is 55.41B as of 2022 and its ROE is -8.11%. The company’s main products are data warehouses, data lakes, and data migration services. Snowflake has been growing rapidly since its inception in 2012, with a compound annual growth rate of 97%.
– Splunk Inc ($NASDAQ:SPLK)
Splunk Inc is a big data analytics company that help organizations to make data-driven decisions and optimize their operations. As of 2022, the company has a market capitalization of 12.39 billion dollars and a return on equity of 78.61%. Splunk’s main competitors are Hortonworks, Cloudera, and MapR.
– Alteryx Inc ($NYSE:AYX)
Alteryx, Inc. is a data science and analytics company that provides a platform for data preparation, predictive analytics, and spatial analysis. Alteryx has a market cap of 3.54B as of 2022 and a Return on Equity of -86.92%. The company’s platform enables its customers to analyze data from multiple sources, including Hadoop, cloud-based data warehouses, and relational databases. Alteryx also offers a variety of training and certification programs to help its customers become more proficient in data science and analytics.
Summary
PALANTIR TECHNOLOGIES had a strong second quarter in FY2023, with total revenue increasing by 12.8% and net income increasing by 115.7% over the same period last year. This indicates a positive trend in the company’s financial performance. Analysts have suggested that investors consider investing in PALANTIR TECHNOLOGIES stock as this growth trend appears to be sustainable.
The company’s outlook remains positive, with analysts predicting further increased revenue and profits. Investors should monitor the company’s developments to take advantage of the potential for further long-term growth.
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