Palantir reports 47% revenue growth for 2020

Palantir Technologies Inc has reported that it generated $1.1 billion in revenue, up 47%, in 2020.

The company’s average revenue per customer was $7.9 million, up 41% year-over-year while its average revenue from top 20 customers was $33.2 million, up 34% year-over-year.

The report also has it that the number of customers generating more than $1 million in annual revenue grew 32% year-over-year while The number of customers generating more than $5 million in annual revenue grew 54% year-over-year.

In Q4 2020, Palantir generated $322 million in revenue, up 40% year-over-year though it incurred a loss from operations of $156.6 million, which includes $241.8 million in stock-based compensation and $18.9 million in related employer payroll taxes.

After adjusting for stock-based compensation and related employer payroll taxes, Palantir’s income from operations was $104.1 million.

In Q4 2020, Palantir signed 21 contracts each worth $5 million or more in total contract value, including 12 contracts each worth $10 million or more in total contract value.

For full year 2021, Palantir continues to expects a year-over-year revenue growth of greater than 30%. For Q1 2021, it expects a year-over-year revenue growth of 45%.

Share: