Q3 2024 Palantir Technologies Inc Earnings Call Transcript
Key Points
- Palantir Technologies Inc (PLTR) reported a 30% year-over-year revenue growth in Q3, exceeding prior guidance.
- The US business saw a significant 44% year-over-year revenue growth, driven by increased AI demand.
- The company achieved a 38% adjusted operating margin, marking the eighth consecutive quarter of expanding margins.
- Palantir Technologies Inc (PLTR) generated over $1 billion in adjusted free cash flow on a trailing 12-month basis for the first time.
- The company was added to the S&P 500, highlighting its growth, profitability, and market leadership.
- International commercial revenue grew only 3% year over year, with a 7% sequential decline due to headwinds in Europe and the Middle East.
- Revenue from strategic commercial contracts is expected to decline significantly in Q4 2024.
- The company faces challenges in maintaining growth amidst macroeconomic uncertainties.
- Despite strong US growth, international government revenue saw a 5% sequential decline.
- There is a potential risk of accelerated stock-based compensation expenses if market-based vesting criteria are achieved earlier than expected.
Good afternoon. I'm Ana Soro from Palantir's finance team, and I'd like to welcome you to our third-quarter 2024 earnings call. We'll be discussing the results announced in our press release issued after the market closed and posted on our Investor Relations website.
During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our fourth quarter and fiscal 2024 results, management's expectations for our future financial and operational performance, and other statements regarding our plans, prospects, and expectations.
These statements are not promises or guarantees and are subject to risks and uncertainties, which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed after the market closed today and in our SEC filings. We undertake no obligation to update forward-looking statements, except as required by law.
Further, during
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