In after-hours trading, Palantir's stock surged 28% after the company reported revenue of $525M, an 18% YoY increase, and forecast profitability by the end of the year.
The number of commercial Palantir customers in the U.S. increased by 50% YoY, from 103 to 155.
- On a GAAP basis, the company announced its second-ever quarter of $17M in positive net profits.
- Palantir anticipates revenue of between $528M and $532M for its second quarter and between $2.19B and $2.24B for the year.
- Big Data Analytics CEO Alex Karp said the company anticipates remaining profitable through the end of the year.
- Furthermore, he added that "Palantir's AI platform, with human oversight to reduce risk, has seen unprecedented demand, with hundreds of conversations already underway with potential customers."