Palantir Technologies Inc. (PLTR) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 3, 2025 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Ana Soro

Good afternoon. I'm Ana Soro from Palantir's Finance Team, and I'd like to welcome you to our Fourth 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 first quarter and fiscal 2025 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

2024 was nothing short of incredible for Palantir. Our momentum accelerated through year end, closing out 2024 with exceptional Q4 results, including an extraordinary top-line beat and outperformance led by our U.S. business.

Revenue grew 14% sequentially and 36% year-over-year in Q4 and 29% year-over-year for the full-year. The AI revolution continues, transforming industries and redefining how organizations operate. AI is a pivotal component in driving innovation and efficiency, something companies need to embrace or fall behind.

With the proliferation of AI models, the raw AI labor supply is exploding. While everyone else is focused on the model supply side, we're transforming AI into a measurable stream of high-value finished goods and services. The result, the rapid emergence of quantified exceptionalism for organizations able to unlock the potential of these commoditized models through AIP. A byproduct of our incredible progress, our Rule of 40 score increased to 81 in the fourth quarter. It's a substantial leap to deploy LLMs into production with real impact.