PALANTIR TECHNOLOGIES Reports Second Quarter FY2023 Earnings Results for Period Ending August 7 2023
August 13, 2023
🌥️Earnings Overview
PALANTIR TECHNOLOGIES ($NYSE:PLTR) reported total revenue of USD 533.3 million and net income of USD 28.1 million for the second quarter of FY2023, ending on August 7 2023, representing a 12.8% and 115.7%, respectively, year-over-year increase.
Stock Price
On Monday, PALANTIR TECHNOLOGIES reported their second quarter FY2023 earnings results for the period ending August 7 2023. The stock opened at $18.2 and closed at $18.0, down by 1.2% from its last closing price of 18.2. This slight decline in closing price, however, did not reflect the positive results that PALANTIR TECHNOLOGIES reported for this period. The company had significant gains in revenue, net income, and total assets during this quarter, showing a tangible commitment to growth and financial stability. The increase in total assets suggests that the company is investing in new initiatives and projects, which could lead to further growth in the future.
Additionally, PALANTIR TECHNOLOGIES reported an increase in total operating expenses which indicates that the company is investing in resources and personnel to ensure their future success. Overall, PALANTIR TECHNOLOGIES is showing positive signs of growth and financial stability as evidenced by their second quarter FY2023 earnings results. While the closing price of the stock is down slightly, the company is still showing promise and potential for future growth and success. 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 has completed an analysis of the fundamentals of PALANTIR TECHNOLOGIES. Based on our Star Chart, PALANTIR TECHNOLOGIES is strong in assets and growth, but weak in dividend and profitability. We have classified PALANTIR TECHNOLOGIES as a ‘cheetah’, a type of company with high revenue or earnings growth but lower levels of stability due to lower profitability. Given this information, what type of investors may be interested in investing in such a company? According to our analysis, PALANTIR TECHNOLOGIES has an intermediate health score of 6/10 with regards to its cashflows and debt, which might be able to sustain future operations in times of crisis. As such, investors with a higher risk tolerance may be interested in the potential returns that PALANTIR TECHNOLOGIES can offer. 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 reported strong second quarter earnings results for FY2023. Revenue of USD 533.3 million was a 12.8% increase year over year, and net income of USD 28.1 million was a 115.7% increase year over year. This is an encouraging sign for investors that the company is performing well and growing.
PALANTIR TECHNOLOGIES has also been growing its base of customers and expanding into new markets, which could further increase revenue and profitability in the future. Investors may want to consider PALANTIR TECHNOLOGIES as a potential long-term investment opportunity.
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