Palantir Technologies (PLTR) FY2022 results: revenue $1.9 billion, up 23.6% on the year

Palantir Technologies Inc. (PLTR) reported revenue of $1.9 billion for fiscal 2022, the year ended 31 December 2022, up 23.6% on the year before. Net income was -$374 million, and diluted earnings per share $-0.18. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2023.

Revenue

$1.9 billion

+23.6% on the year

FY2018FY2022

Operating margin

-8.5%

-26.7% a year earlier

FY2018FY2022

Net income

-$374 million

FY2018FY2022

Diluted EPS

-$0.18

FY2018FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,906	1,542	1,093	+23.6%
Cost of revenue	409	339	353	+20.4%
Gross profit	1,497	1,202	740	+24.5%
Gross margin	78.6%	78.0%	67.7%
Research and development	360	387	561	-7.2%
Operating income	-161	-411	-1,174
Operating margin	-8.5%	-26.7%	-107.4%
Interest expense	4.1	3.6	14.1	+11.5%
Pre-tax income	-361	-488	-1,179
Income tax	10.1	31.9	-12.6	-68.4%
Net income	-374	-520	-1,166
Net margin	-19.6%	-33.7%	-106.7%
Diluted EPS	-$0.18	-$0.27	-$1.20

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	224	334	-297	-33.0%
Capital expenditure	40.0	12.6	12.2	+217.0%
Free cash flow	184	321	-309	-42.8%
Free cash flow margin	9.6%	20.8%	-28.3%
Cash from investing	-45.4	-398	-14.9
Cash from financing	86.0	307	1,036	-72.0%
Depreciation and amortisation	22.5	14.9	13.9	+51.2%
Share-based compensation	565	778	1,271	-27.4%
Buybacks	0.0	0.0	3.8
Diluted shares, weighted	2,064m	1,924m	979m	+7.3%
Shares outstanding at period end	2,099m	2,027m	1,792m	+3.5%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	2,565	2,291	1,523	+12.0%
Non-controlling interest	77.1	0.0	n/a
Debt	0.0	0.0	198
Operating lease liabilities	204	220	230	-7.2%
Other liabilities	614	736	740	-16.5%
Total liabilities and equity	3,461	3,247	2,691	+6.6%
Fixed assets	69.2	31.3	29.5	+121.0%
Goodwill	37.9	1.9	n/a	+1,929.9%
Intangible assets	35.5	3.8	n/a	+826.5%
Investments	35.1	234	n/a	-85.0%
Cash and equivalents	2,599	2,291	2,011	+13.4%
Receivables	258	191	157	+35.3%
Other assets	427	495	493	-13.8%
Total assets	3,461	3,247	2,691	+6.6%

10-K for the year ended 31 December 2022, filed 21 February 2023: the filing.