Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2020
- Current Ratio since 2020
- Debt to Equity since 2020
- Analysis of Debt
- Aggregate Accruals
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Palantir Technologies Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Revenue and Cost of Revenue
- The revenue percentage remains constant at 100% across all periods, serving as the base for relative analysis of other items. The cost of revenue shows a declining trend overall, decreasing from around -21.72% in early 2021 to a low of approximately -17.86% by late 2022, before slightly rising again to about -19.22% by mid-2025. This suggests an improvement in direct cost management over the period with some fluctuation.
- Gross Profit
- Gross profit as a percentage of revenue demonstrates a general increasing trend. Starting near 78.28% in Q1 2021, it rises to above 80% by late 2023 and remains close to that level through to mid-2025, indicating enhanced profitability at the gross margin level likely aided by cost of revenue improvements and stable revenue recognition.
- Operating Expenses
- Operating expenses, which aggregate sales and marketing, research and development, and general and administrative expenses, show a significant reduction over time. From a very high combined ratio exceeding -111% in Q1 2021, the expenses decline persistently to roughly -54% by mid-2025. This reflects a stronger operational leverage and better cost control initiatives within the company.
- Sales and Marketing Expenses
- Sales and marketing expenses decrease steadily from around -39.88% at the start of 2021 to approximately -24.29% in mid-2025, suggesting a strategic reduction in customer acquisition or promotional expenditures relative to revenue, possibly due to improved operational efficiency or shifting marketing strategies.
- Research and Development Expenses
- Research and development costs also trend downward, moving from roughly -28.86% in early 2021 to about -13.45% by mid-2025. This gradual decline may indicate a move toward cost efficiencies in product development or a shift in investment focus.
- General and Administrative Expenses
- General and administrative expenses show a notable decline over the period, from near -42.95% in early 2021 to an estimated -16.20% approaching mid-2025, demonstrating substantial cost containment in overhead and administrative functions.
- Income (Loss) from Operations
- The operating income metric shows a marked improvement from a significant operating loss of around -33.41% in Q1 2021 to positive territory above 25% by mid-2025. This turnaround reflects the combined effect of rising gross profit margins and decreasing operating expense ratios.
- Interest Income and Expense
- Interest income shows an increasing trend, growing from a negligible 0.11% of revenue to peaks over 7% around late 2023 and remaining steady thereafter. Interest expense remains minimal and declining, close to zero in later periods, indicating a favorable net interest position contributing positively to overall profitability.
- Other Income (Expense), Net
- Other income (expense) demonstrates volatility, with substantial negative values in 2021 and early 2022, but later periods show a moderation and occasional positive values, suggesting variability in non-operational financial activities or one-off items affecting net income.
- Income Before Taxes and Tax Provision
- Income before taxes improves considerably, from significant losses exceeding -35% in early 2021 to positive figures above 30% in 2025. Tax provisions remain relatively small and fluctuating, generally under 1%, reflecting limited tax impact proportionate to earnings.
- Net Income and Attributable Earnings
- Net income follows a trajectory from deep negative percentages near -36% in early 2021 to positive percentages exceeding 32% by mid-2025. The net income attributable to common stockholders mirrors this positive development, indicating strong profitability growth and improved financial health. Minor fluctuations in net income attributable to noncontrolling interests are observed but do not materially affect overall profitability.