Author: Leon Hinde

PLTR:NYS shares were more than 30 per cent higher after the company reported big demand for its artificial intelligence technology and gave a higher-than-expected profit outlook for 2024.

Wedbush Securities called Palantir “an undiscovered gem and a core part of our thesis in the AI Revolution just now taking shape across the tech world”. Wedbush said it believes Palantir is on track to be included in the S&P 500.

FY 2023 Highlights

• Revenue grew 17% year-over-year to $2.23 billion
• Commercial revenue grew 20% year-over-year to $1.0 billion
  • US commercial revenue grew 36% year-over-year to $457 million
• Government revenue grew 14% year-over-year to $1.2 billion
• GAAP net income of $210 million, representing a 9% margin
• GAAP income from operations of $120 million, representing a 5% margin
• Cash from operations of $712 million, representing a 32% margin
• Adjusted free cash flow of $731 million, representing a 33% margin
• Adjusted income from operations of $633 million, representing a 28% margin