Palantir shares fell 15% in the premarket due to missed profits

Alex Karp, CEO of Palantir Technologies, arrives at the “Tech for Good” Summit in Paris, France on May 15, 2019.

Carlo Platiau | Reuters

Actions of Palantir plunged more than 15% in the premarket on Monday after the company issued a weaker-than-expected revenue outlook and missed the bottom line in its first quarter results.

Here are the key numbers:

  • Earnings per share (EPS): 2 cents adj. against 4 cents expected, according to a Refinitiv survey of analysts
  • Income: $ 446 million versus $ 443 million expected, by definition

Palantir said it expects $ 470 million in revenue in the current quarter, which is below analyst expectations of $ 483.7 million, for FactSet. The software company, known for its work with the government, said there is “a wide range of potential benefits” in its guidance “including those driven by our role in responding to the development of geopolitical events.”

It recorded a net loss of $ 101.38 million for the quarter, an improvement from $ 156.19 million in the fourth quarter of 2021.

For the full year 2022, it continues to expect an adjusted operating margin of 27%. It also predicts annual revenue growth of 30% or more through 2025.

Revenue for the quarter increased 31% year-over-year to $ 446 million. Commercial revenue for the period increased 54% from the same quarter a year ago, while government revenue increased 16%. The company’s customer base grew 86% year-over-year.

Subscribe to CNBC on YouTube.