Ann: July 2021 Monthly NTA Statement, page-6

Data analytics company Palantir beat sales expectations and provided upbeat guidance, sending the shares surging higher. Revenue jumped 49% year-on-year to $376 million and easily topped the $352 million consensus estimate. During the quarter, the company said commercial revenue in the US soared 90% year over year, and its commercial customer count increased 32% sequentially.

According to head of business development Kevin Kawasaki, Palantir is on track to more than double its commercial customer base by year-end. Palantir said it inked 30 deals worth $5 million or more and 21 deals worth $10 million or more.

The company’s business has been boosted by the pandemic, as Palantir is working with the Department of Health and Human Services in July to track vaccine production, distribution and administration across the country. The CDC uses its software to track the spread of Covid-19 spread and hospitalizations and will use it to monitor and analyze routine diseases and future potential outbreaks. Palantir forecast thirdquarter revenue to come in at approximately $385 million, above the $376 million analysts were modelling. Adjusted EPS of 4 cents matched expectations.