American software firm Palantir Technologies Inc. widened its losses in the second quarter even after double-digit growth in its top line, the company announced in a statement.
- Net loss widened to $138.6 million from $110.5 million the same quarter last year, with diluted loss per share at $0.07 versus $0.17.
- Total revenue climbed 49% year-on-year to $376 million, and US commercial revenue climbed 90%, as the company closed 62 deals worth at least $1 million during the quarter.
- Palantir added 20 net new customers in the quarter, bringing total customers up 13% versus the previous quarter.
The company expects third-quarter revenue at $385 million and an adjusted free cash flow of more than $300 million. Annual revenue growth is also expected to be at least 30% from 2021 to 2025. PLTR is up 11.36%.