Palantir Technologies Inc. (NYSE:PLTR) Q2 2024 Earnings Call Transcript August 5, 2024 5:00 PM ET
Company Participants
Ana Soro - Finance Team
Ryan Taylor - CRO & CLO
Shyam Sankar - CTO
Dave Glazer - CFO
Alex Karp - CEO
Conference Call Participants
Daniel Ives - Wedbush
Mariana Perez Mora - Bank of America
Ana Soro
Good afternoon, I'm Ana Soro from Palantir's Finance Team and I'd like to welcome you to our Second Quarter 2024 Earnings Call. We'll be discussing the results announced in our press release issued after the market closed and posted on our Investor Relations website.
During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our third quarter and fiscal 2024 results, management's expectations for our future financial and operational performance, and other statements regarding our plans, prospects, and expectations. These statements are not promises or guarantees and are subject to risks and uncertainties, which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed after the market closed today and in our SEC filings. We undertake no obligation to update forward-looking statements except as required by law.
Further, during the course of today's call, we will refer to certain adjusted financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from GAAP measures. Additional information about these non-GAAP measures, including reconciliation of non-GAAP to comparable GAAP measures is included in our press release and investor presentation provided today.
Our press release, investor presentation, and other earnings materials are available on our Investor Relations website at investors.palantir.com. Over the course of the call, we will refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated.
Joining me on today's call are Alex Karp, Chief Executive Officer; Shyam Sankar, Chief Technology Officer; Dave Glazer, Chief Financial Officer; and Ryan Taylor, Chief Revenue Officer and Chief Legal Officer.
I'll now turn it over to Ryan to start the call.
Ryan Taylor
We are thrilled to report tremendous results for our business, driven foremost by strong execution in our US commercial business and continued US government business acceleration. Overall revenue growth, excluding strategic commercial contracts, accelerated to 30% year-over-year and 10% sequential in Q2. Our exceptional results are a reflection of a market that is quickly awakening to a reality that our customers have already known, we stand alone in our ability to deliver enterprise AI production impact at scale. We are delivering these results in the face of an unprecedented enterprise AI opportunity.