Stock Analysis on Net
Stock Analysis on Net

Palantir Technologies Inc. (NASDAQ:PLTR)

$24.99

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Palantir Technologies Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Palantir Technologies Inc., consolidated income statement

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue
Cost of revenue
Gross profit
Sales and marketing
Research and development
General and administrative
Operating expenses
Income (loss) from operations
Interest income
Interest expense
Other income (expense), net
Income (loss) before (provision for) benefit from income taxes
(Provision for) benefit from income taxes
Net income (loss)
Net income attributable to noncontrolling interests
Net income (loss) attributable to common stockholders

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Revenue Trends
The revenues have shown a consistent upward trend over the five-year period, increasing from approximately 1.09 billion in 2020 to 2.87 billion in 2024. This represents a significant expansion in the company's top line.
Cost of Revenue and Gross Profit
Costs of revenue have fluctuated but generally increased in absolute terms, moving from about 353 million in 2020 to nearly 566 million in 2024. Despite this rise, gross profit has improved significantly, rising from 740 million in 2020 to nearly 2.3 billion in 2024. This indicates effective management of production costs relative to revenue growth.
Operating Expenses
Operating expenses, which include sales and marketing, research and development, and general and administrative costs, have shown varying trends. Sales and marketing expenses decreased from 684 million in 2020 to 615 million in 2021, followed by an increasing trend to 888 million by 2024. Research and development costs sharply declined from 561 million in 2020 to 388 million in 2021, then gradually increased to 508 million by 2024. General and administrative expenses decreased steadily from 669 million in 2020 to 524 million in 2023 before rising again to 593 million in 2024. Despite fluctuations in individual components, total operating expenses decreased from 1.91 billion in 2020 to approximately 1.61 billion in 2021, then increased gradually to nearly 1.99 billion in 2024.
Operating Income (Loss)
The company's operating results improved markedly during the period. The operating loss narrowed from about 1.17 billion in 2020 to 161 million in 2022, transitioning to operating income in 2023 with 120 million and further increasing to 310 million in 2024. This shift to profitability at operational level signifies enhanced operational efficiency or improved revenue quality.
Interest and Other Income (Expense)
Interest income showed a notable increase from 4.7 million in 2020 to nearly 197 million in 2024, which contributed positively to pre-tax income. Interest expense remained relatively low and stable. Other income (expense) exhibited volatility with significant net expenses particularly in 2021 and 2022, which negatively impacted overall income before taxes.
Income Before Taxes and Tax Provision
Income before taxes showed a similar pattern to operating income, moving from a loss of approximately 1.18 billion in 2020 to a positive figure of 489 million in 2024. Income tax provisions remained relatively small in comparison to pre-tax income, fluctuating between a benefit of 13 million and a provision of around 21 million over the years.
Net Income
Net losses narrowed significantly over the period and turned positive beginning in 2023. The net loss in 2020 was about 1.17 billion, decreasing to a loss of 371 million in 2022 before achieving net income of 217 million in 2023 and 468 million in 2024. Net income attributable to common stockholders follows the same pattern, reflecting strong improvement in profitability.
Noncontrolling Interests
Losses attributable to noncontrolling interests increased from nil presence in earlier years to losses of 7.5 million and 5.7 million in 2023 and 2024 respectively, indicating growing minority interests in the company’s operations.