Palantir stock down 19% on weak revenue guidance, earnings miss

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Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019.

Charles Platiau | Reuters

Shares of Palantir plunged more than 19% Monday after the company issued a weaker-than-expected revenue outlook and missed on the bottom line in its first-quarter results.

Here are the key numbers:

  • Earnings per share (EPS): 2 cents adj. vs 4 cents expected, according to a Refinitiv survey of analysts
  • Revenue: $446 million vs $443 million expected, per Refinitiv

Palantir said it expects $470 million in revenue in the current quarter, which is below analyst expectations of $483.7 million, per FactSet. The software company, known for its work with the government, said there is a “wide range of potential upside” to its guidance “including those driven by our role in responding to developing geopolitical events.”

It reported a net loss of $101.38 million for the quarter, an improvement from the $156.19 million of the fourth quarter of 2021.

For the full year 2022, it continues to expect an adjusted operating margin of 27%. It also anticipates annual revenue growth of 30% or greater through 2025.

Revenue for the quarter increased 31% year-over-year to $446 million. Commercial revenue for the period was up 54% compared to the same quarter a year ago, while government revenue gained 16%. The company’s customer count grew 86% year over year.

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