The company’s total contract value for the third quarter of this year stood at $1.3bn. Credit: Cory Doctorow/Flickr (Creative Commons).

US-based software firm Palantir Technologies has posted a 22% year-on-year (YoY) growth in revenues to $478m in the third quarter (Q3) of 2022.   

The performance was attributed to a sharp rise in revenue primarily in the US market.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Palantir’s adjusted income from operations stood at $81.25m, reflecting a 17% margin.

In the three-month quarter that ended on 30 September 2022, cash from operations increased 10% to $47m.

Adjusted free cash flow was $37m, marking positive performance for the eighth consecutive quarter.

The quarterly adjusted net income was $16m while adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $87m, representing an 18% margin.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The company’s total contract value for the third quarter of this year was $1.3bn. This was driven by growth in the firm’s defence business in the US.

Palantir’s businesses across the US reported a total revenue of $1.11bn on a trailing twelve-month (TTM) basis. The figure represented a 38% jump from $808m reported a year ago.  

Of this, US commercial revenue increased 53% YoY, and government revenue was up 23% from the previous year.

The firm’s commercial customer count in the US market also grew 124% YoY to 132 customers, compared to 59 in Q3 last year.

Palantir Technologies co-founder and chief executive officer Alexander Karp said: “We beat expectations for revenue growth this quarter and expect to have a strong finish to the year, even in the face of the continued strength of the US dollar.

“Our company is emerging as a dominant provider of foundational data platforms, generating approximately half a billion dollars in revenue every quarter.

“We have crossed the billion-dollar mark in the United States market alone, more than doubling our business in two years.”

Despite a negative $6m currency impact, the company reiterated their full-year revenue outlook to be between $1.9bn and $1.902bn.   

It expects adjusted income from operations to be in the range of $384m to $386m.

Army Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Army Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact across the defence sector.

Excellence in Action
Virtualitics has clinched both the Innovation and Business Expansion awards for its Integrated Readiness Optimization (IRO) AI suite, transforming maintenance, sustainment and operational decision-making across the US DoD. Discover how explainable AI and predictive insights are redefining mission readiness, risk management and joint-force efficiency.

Discover the Impact