Palantir (PLTR) shares rose 0.5% in extended trading on Monday after the enterprise software giant reported third-quarter results and raised its full-year guidance.
For the period ending Sept. 30, Palantir said it earned an adjusted $0.21 per share as revenue rose 63% year-over-year to come in at $1.18B. Included in that was a 77% rise in U.S. revenue to $883M. U.S. commercial revenue grew 121% year-over-year to $397M, while U.S. government revenue grew 52% year-over-year to $486M.
The company closed 204 deals worth at least $1M during the period, including 91 worth at least $5M and 53 worth at least $10M. It closed $2.76B in total contract value during the quarter, up 151% year-over-year, including $1.31B in U.S. commercial contracts.
Customer count grew 45% year-over-year, Palantir added.
Analysts had expected the company to earn an adjusted $0.17 per share on $1.09B in revenue.
“114% – our Rule of 40 score! These results make undeniable the transformational impact of using AIP to compound AI leverage,” said Palantir CEO and co-founder Alex Karp in a statement. “Year-over-year growth in our U.S. business surged to 77%, and year-over-year growth in U.S. commercial climbed to 121%. We are yet again announcing the highest sequential quarterly revenue growth guide in our company’s history, representing 61% year-over-year growth.”
Looking ahead to the fourth-quarter, Palantir said it expects revenue to be between $1.327B and $1.331B, above the $1.19B estimate. Adjusted operating profit is forecast to be between $695M and $699M, above the $574.7M estimate.
For the full-year, Palantir said it now expects revenue to be between $4.396B and $4.4B, up from a previous view of $4.14B to $4.15B, and above the consensus estimate of $4.17B. Adjusted operating profit is forecast to be between $2.15B and $2.16B, up from its prior view forecast between $1.91B and $1.92B. Adjusted free cash flow is now expected to be between $1.9B and $2.1B, compared to a previous range of $1.8B and $2B.
The company will host a conference call at 5 p.m. EST to discuss the results.