Palantir says it expects 42% revenue growth this year to $1.06 billion


CEO of Palantir Alex Karp leaves the Elysee Palace in Paris, on May 23, 2018 after the “Tech for Good” summit.

Ludovic Marin | AFP | Getty Images

Palantir said in a filing ahead of next week’s public market listing that it expects to record growth this year of 42%, to close 2020 with $1.06 billion in revenue.

The company, which develops software for government agencies and large companies, said adjusted operating income will come in at $121 million, for a margin of 11.5%.

Palantir is taking an unconventional approach to the public market in pursuing a direct listing rather than an IPO. Existing investors can sell up to 20% of their stake to new investors, who now have more financial data to use in assessing the value of the company.

Palantir’s update shows that revenue growth is accelerating from 2019, when the company reported a 25% increase to $742.6 million. For 2021, Palantir said it expects revenue growth of greater than 30%.

Revenue and operating income guidance for this year mark the middle of the provided range. Operating income excludes stock-based compensation and other costs.

As investors analyze Palantir’s business model, one key question is whether the company can dramatically expand its customer base beyond the current number of 125 by relying more on easy-to-use software and less on hefty deployments.

Excluding options and other unvested stock, Palantir reported a fully-diluted share count of 1.92 billion. With an average recent share price on the private market of $9.17, according to the filing, the company is valued at about $17.6 billion.

WATCH: Palantir prepares to go public



Source link

Discover

Sponsor

Latest

2021 Ram 1500 and HD Limited Night Editions are Tall, Dark, and Handsome

If you were disappointed when Ram announced its blacked-out Night Edition package would only be available on Big Horn and Laramie trim levels,...

Russia’s energy minister calls oil at $50 to $55 a barrel in 2021

Russian energy minister Alexander Novak arrives for the 177th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on December 5, 2019.JOE...

Lebanon’s powerhouse Hezbollah hit by backlash after blast

A woman hold a banner shows the name of victims of Beirut Explosion during a protest near the port, on August 11, 2020...

India bans 118 Chinese apps after Ladakh border tension flares up

Photo Illustration of PUBG app with Banned text on an iPad device in Guwahati, India, on Sept. 2, 2020. India has banned more...

Hennessey Velociraptor V8 Ford Bronco announced

Ford has ruled out putting a V8 engine in the 2021 Bronco, so American tuner Hennessey will step in to fill the void....