Palantir Technologies Inc. Files 10-Q for Q1 2024

TL;DR

<b>Palantir Technologies Inc. submitted its Q1 2024 10-Q filing on May 7, 2024.</b>

AI Summary

Palantir Technologies Inc. (PLTR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Palantir Technologies Inc. filed its 10-Q report for the quarterly period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The filing was submitted on May 7, 2024. The company's principal business address is in Denver, Colorado.

Why It Matters

For investors and stakeholders tracking Palantir Technologies Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Palantir Technologies Inc. for the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks and opportunities.

Risk Assessment

Risk Level: — Palantir Technologies Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains detailed financial information but does not usually include significant new strategic announcements or material events that would drastically alter the risk profile.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Palantir's performance and outlook for the remainder of 2024.

Key Numbers

• 2024-03-31 — Quarter End Date (Period of report)
• 2024-05-07 — Filing Date (Date of submission)
• 12/31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Palantir Technologies Inc. (company) — Filer name
• PLTR (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filing date
• Denver, CO (location) — Business address

FAQ

Industry Context

Palantir Technologies Inc. operates in the software industry, providing data analytics and artificial intelligence platforms.

Regulatory Implications

As a publicly traded company, Palantir Technologies Inc. is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Examine any disclosed risk factors or legal proceedings that may impact the company's future operations.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date Palantir Technologies Inc. submitted its 10-Q filing.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, following the company's previous filings, including its 2023 annual report (10-K) and prior quarterly reports.

Key Financial Figures

• $0.001 — stered Class A Common Stock, par value $0.001 per share PLTR New York Stock Exchange

Filing Documents

• pltr-20240331.htm (10-Q) — 1499KB
• a2024q1exhibit311.htm (EX-31.1) — 12KB
• a2024q1exhibit312.htm (EX-31.2) — 12KB
• a2024q1exhibit321.htm (EX-32.1) — 9KB
• 0001321655-24-000071.txt (&nbsp;) — 7059KB
• pltr-20240331.xsd (EX-101.SCH) — 44KB
• pltr-20240331_cal.xml (EX-101.CAL) — 68KB
• pltr-20240331_def.xml (EX-101.DEF) — 246KB
• pltr-20240331_lab.xml (EX-101.LAB) — 622KB
• pltr-20240331_pre.xml (EX-101.PRE) — 437KB
• pltr-20240331_htm.xml (XML) — 824KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 87 Item 3. Defaults Upon Senior Securities 87 Item 4. Mine Safety Disclosures 87 Item 5. Other Information 87 Item 6. Exhibits 88 2 Table of contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Palantir Technologies Inc. Condensed Consolidated Balance Sheets (in thousands, except per share amounts) (unaudited) As of March 31, 2024 As of December 31, 2023 Assets Current assets: Cash and cash equivalents $ 520,388 $ 831,047 Marketable securities 3,347,512 2,843,132 Accounts receivable, net 486,986 364,784 Prepaid expenses and other current assets 81,178 99,655 Total current assets 4,436,064 4,138,618 Property and equipment, net 46,906 47,758 Operating lease right-of-use assets 173,707 182,863 Other assets 150,402 153,186 Total assets $ 4,807,079 $ 4,522,425 Liabilities and Equity Current liabilities: Accounts payable $ 35,634 $ 12,122 Accrued liabilities 206,034 222,991 Deferred revenue 237,195 246,901 Customer deposits 217,634 209,828 Operating lease liabilities 54,056 54,176 Total current liabilities 750,553 746,018 Deferred revenue, noncurrent 20,722 28,047 Customer deposits, noncurrent 1,651 1,477 Operating lease liabilities, noncurrent 163,013 175,216 Other noncurrent liabilities 9,968 10,702 Total liabilities 945,907 961,460 Commitments and Contingencies (Note 7) Stockholders' equity: Common stock, $ 0.001 par value: 20,000,000 Class A shares authorized as of March 31, 2024 and December 31, 2023; 2,130,393 and 2,096,982 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively; 2,700,000 Class B shares authorized as of March 31, 2024 and December 31, 2023; 95,565 and 102,141 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively; and 1,005 Class F shares authorized, issued, and outstanding as of March 31, 2024 and December 31, 2023 2,227 2,200 Additional paid-in capital 9,322,803 9,122,173 Accumulated other comprehensive income (loss), net ( 5,720 ) 801 Accumulated deficit ( 5,544,083 ) ( 5,649,613 ) Total stockholders' equity 3,775,227 3,475,561 Noncontrolling interests 85,945 85,404 Total equity 3,861,172 3,56

View Full Filing

View this 10-Q filing on SEC EDGAR