Palantir (PLTR.US) shares fell briefly 14% in premarket after the software company grew revenue more quickly than anticipated in the fourth quarter, however earnings figures disappointed investors.
- Adjusted for stock-based compensation and other expenses, earnings came in at 2 cents a share, while markets expected earnings of 4 cents a share, according to FactSet. Net loss came to $156 million, with the diluted loss per share at $0.08.
- Company's revenue increased 34% to $432.9 million from $322.1 million a year earlier. Analysts surveyed by FactSet expected $417.7 million.
- For the full year 2021, revenue stood at $1.5 billion, growing 41% compared to 2020, with net loss at $520 million and loss per share at $0.27.
- Government business rose 47% to $897 million, while commercial business expanded 34% to $645 million.
- For the current quarter Palantir expects revenue in the region of $443 and an adjusted operating margin of 23%. For the full fiscal year, plans to achieve an adjusted operating margin of 27%, with a long-term outlook of annual revenue growth of 30% or greater through 2025.
- However, many analysts are concerned over the company's reliance on large contracts with small number of customers, including its dependence on government contracts, which make its revenue flow uncertain.
Palantir (PLTR.US) stock plunged 14.00% in premarket after the release of quarterly figures, however buyers managed to erase some losses. Currently the price is testing the lower limit of the triangle formation. Source: xStation5
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