Summary
Palantir Technologies Inc. reported significant revenue growth of 41% in 2021, reaching $1.5 billion, driven by a substantial 47% increase in government sector revenue and a 34% increase in commercial sector revenue. The company's gross margin improved to 78% (82% excluding stock-based compensation) from 68% in the prior year, indicating enhanced operational efficiency. Despite revenue growth, Palantir continues to incur operating losses, with a net loss of $520.4 million for 2021, although this is an improvement from a $1.17 billion loss in 2020. This is partly due to continued investments in sales, marketing, and research and development, alongside significant stock-based compensation expenses. The company ended 2021 with a strong liquidity position, including $2.3 billion in cash and cash equivalents and an undrawn $400 million revolving credit facility.
Financial Highlights
57 data points| Revenue | $1.54B |
| Cost of Revenue | $339.40M |
| Gross Profit | $1.20B |
| R&D Expenses | $387.49M |
| Operating Expenses | $1.61B |
| Operating Income | -$411.05M |
| Interest Expense | $3.64M |
| Net Income | -$520.38M |
| EPS (Basic) | $-0.27 |
| EPS (Diluted) | $-0.27 |
| Shares Outstanding (Basic) | 1.92B |
| Shares Outstanding (Diluted) | 1.92B |
Key Highlights
- 1Revenue increased by 41% year-over-year to $1.54 billion in 2021.
- 2Gross margin improved significantly to 78% in 2021 from 68% in 2020.
- 3Government sector revenue grew by 47%, while commercial sector revenue increased by 34%.
- 4The company ended 2021 with $2.29 billion in cash and cash equivalents.
- 5Total operating expenses decreased by 16% in 2021 compared to 2020, primarily due to a reduction in stock-based compensation.
- 6Despite improved margins and reduced operating expenses, Palantir reported a net loss of $520.4 million in 2021, though this is a significant improvement from the $1.17 billion net loss in 2020.
- 7Total remaining deal value increased by 35% to $3.8 billion by the end of 2021.