Palantir Technologies Inc. Q4 FY2023 results: revenue $608 million, up 19.6% on the year

Palantir Technologies Inc. (PLTR) reported revenue of $608 million for Q4 FY2023, the quarter ended 31 December 2023, up 19.6% on the same quarter a year earlier. Net income was $93 million, up 202.5% on the year, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.

Revenue$608 millionup 19.6%

Net income$93 millionup 202.5%

Diluted EPS$0.04

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	608	558	n/a	n/a
Cost of revenue	109	108	n/a	n/a
Gross profit	500	450	n/a	n/a
Gross margin	82.1%	80.7%	n/a
Research and development	109	106	n/a	n/a
Operating income	65.8	40.0	n/a	n/a
Operating margin	10.8%	7.2%	n/a
Interest expense	0.1	0.7	n/a	n/a
Pre-tax income	106	80.0	n/a	n/a
Income tax	9.3	6.5	n/a	n/a
Effective tax rate	8.8%	8.2%	n/a
Net income	93.4	71.5	n/a	n/a
Net margin	15.4%	12.8%	n/a
Diluted EPS	$0.04	$0.03	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. 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 and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	301	133	n/a	n/a
Capital expenditure	4.9	1.6	n/a	n/a
Free cash flow	296	132	n/a	n/a
Free cash flow margin	48.7%	23.6%	n/a
Depreciation and amortisation	8.0	8.7	n/a	n/a
Share-based compensation	133	114	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Diluted shares, weighted	2,298m	2,326m	n/a	n/a
Shares outstanding at period end	2,200m	2,175m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Total assets	4,522	4,193	n/a	n/a
Cash and equivalents	831	1,040	n/a	n/a
Receivables	365	430	n/a	n/a
Operating lease liabilities	175	184	n/a	n/a
Shareholders' equity	3,476	3,190	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	558	608	634	678	726	828	884	1,004	1,181	1,407	1,633	1,935
Cost of revenue	108	109	116	129	147	175	173	193	207	216	216	297
Gross profit	450	500	518	550	579	653	711	811	974	1,191	1,417	1,639
Gross margin	81%	82%	82%	81%	80%	79%	80%	81%	82%	85%	87%	85%
R&D	106	109	110	109	118	172	135	135	144	144	161	193
Operating income	40.0	65.8	80.9	105	113	11.0	176	269	393	575	754	912
Operating margin	7%	11%	13%	16%	16%	1%	20%	27%	33%	41%	46%	47%
Interest expense	0.7	0.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	80.0	106	111	141	157	80.5	223	332	481	621	889	1,081
Tax rate	8%	9%	4%	4%	5%	4%	3%	1%	1%	2%	1%	1%
Net income	71.5	93.4	106	134	144	79.0	214	327	476	609	871	1,062
Net margin	13%	15%	17%	20%	20%	10%	24%	33%	40%	43%	53%	55%
Diluted EPS	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08	$0.13	$0.18	$0.24	$0.34	$0.41
Operating cash flow	133	301	130	144	420	460	310	539	508	777	899	1,216
Capital expenditure	1.6	4.9	2.7	2.9	4.0	3.1	6.2	7.6	6.8	13.3	7.4	14.6
Free cash flow	132	296	127	141	416	457	304	532	501	764	892	1,202
Buybacks	0.0	0.0	9.0	17.7	18.9	18.6	18.0	18.6	19.2	19.2	n/a	n/a
Shares outstanding	2,175m	2,200m	2,227m	2,238m	2,270m	2,339m	2,360m	2,372m	2,383m	2,391m	2,397m	2,403m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 20 February 2024, accession 0001321655-24-000022: the filing on EDGAR. All of Palantir Technologies Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install