Palantir sees Q4, 2021 revenue ahead of expectations

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Palantir said it expects 2021 revenue growth of about 40% as it closed 54 deals worth more than $1 million in the third quarter.

The enterprise and government analytics company said it expects fourth quarter revenue of $418 million with 2021 revenue growth of 40% to $1.53 billion. Analysts were expecting fourth quarter sales of $401.9 million and $1.51 billion for 2021.

Palantir reported a third quarter net loss of $102.1 million, or 5 cents a share, on revenue of $392 million, up 36% a share. Non-GAAP earnings were 4 cents a share in the third quarter.

Wall Street analysts were expecting Palantir to report third quarter non-GAAP earnings of 4 cents a share on revenue of $385 million.

Palantir said its US commercial revenue was up 103% in the third quarter compared to a year ago. Palantir closed 33 deals worth more than $5 million or more and 18 deals worth $10 million or more. Palantir has two software platforms, Palantir Gotham and Palantir Foundry, and has been working to make its applications more consumable for enterprises.

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Article source: https://www.zdnet.com/article/palantir-sees-q4-2021-revenue-ahead-of-expectations/#ftag=RSSbaffb68