TLDR
- Palantir (PLTR) stock surged over 20% after Q4 2024 earnings, with stock up 500% over the past year
- Q4 revenue reached $827.52M (36% YoY growth), beating estimates of $777.49M
- U.S. commercial revenue increased 64% to $214M, with customer count up 73%
- Company generated $460M in cash from operations with 56% margins in Q4
- Q1 2025 revenue guidance of $858-862M exceeded analyst expectations of $797.85M
Palantir Technologies (PLTR) reported strong fourth-quarter results for 2024, driving its stock price above $100 and marking a 500% increase over the past year. The data analytics company beat Wall Street expectations across key metrics, highlighting growing demand for its artificial intelligence platform.
The company’s fourth-quarter revenue reached $827.52 million, representing a 36% increase compared to the same period last year when it reported $608.35 million. This performance exceeded analyst estimates of $777.49 million and showed a 14% sequential growth from the previous quarter.
In the U.S. commercial sector, Palantir saw remarkable growth with revenue climbing 64% to $214 million. The company’s U.S. commercial customer count grew by 73% year-over-year, now totaling 382 clients. The remaining deal value in this segment increased by 99% to $1.79 billion.

Cash generation showed notable strength in the fourth quarter. Palantir produced $460 million in cash from operations and $517 million in adjusted free cash flow, resulting in margins of 56% and 63% respectively.
Earnings per share for the quarter came in at $0.14, surpassing expectations of $0.11 and showing improvement from $0.08 in the prior period. This marked Palantir’s ninth consecutive quarter of meeting or exceeding earnings estimates.
Looking at full-year results for 2024, Palantir’s total revenue increased by 29% to $2.87 billion, up from $2.22 billion in 2023. Annual earnings saw substantial growth, reaching $0.41 per share compared to $0.08 per share in the previous year.
The company’s artificial intelligence platform (AIP) has gained traction among commercial clients. One example includes a multinational bank that used Palantir’s software to reduce back-office tasks from five days to just minutes.
Rio Tinto, which recently extended its contract with Palantir, reported that the AIP system helped them handle complex data problems that were previously too difficult to manage.
For the first quarter of 2025, Palantir provided revenue guidance between $858-862 million, exceeding analyst consensus of $797.85 million. The company expects full-year 2025 revenue to range from $3.741 billion to $3.757 billion, above the consensus forecast of $3.54 billion.
The company’s full-year cash from operations for 2024 totaled $1.15 billion, with adjusted free cash flow reaching $1.25 billion. These figures translated to margins of 40% and 44% respectively.
Palantir’s commercial growth has been particularly strong in recent quarters. The company’s AIP boot camps, which allow potential customers to test the system, have helped drive contract growth.
The U.S. commercial segment remains a key growth driver for Palantir. With 382 current commercial customers, the company sees room for expansion within this market.
Originally known for government contracts, Palantir has expanded its reach in the commercial sector, particularly through its AIP product released in 2023.
The company’s stock performance in 2024 was notable, as it gained 340% and earned a place in both the S&P 500 and Nasdaq-100 indices.
Current AI market forecasts suggest potential for continued growth, with the market expected to expand from $200 billion today to over $1 trillion by the end of the decade.
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