❗️ The Impossible | Palantir Bullets #77

Q1 Results, First AI Expo, Analysts Updates

Dear readers,

the impossible happened: I met CEO Alex Karp!

This great experience has been possible thanks to Eliano Younes, who managed the partnership with SCSP to deliver a great AI Expo event! I encourage you to follow on X @Elianoayounes.

Thank you Eliano and the Palantir team.

Is there a better way to celebrate than with a steak dinner?

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Editor: Emanuele Marabella

Last week:

• Palantir delivered its Q1 results, which showed continued strength, especially in the US Commercial. In a nutshell:

  • Revenues +21% YoY;

  • US Commercial Revenue +40% YoY;

  • EBIT Adj +56% YoY at 36% Margin;

  • Customer count +42% YoY;

  • Revenue Guidance raised to $650mn for Q2 and $2,7bn for FY24.

Why did the stock drop 20%? I discussed it during Palantir Weekly #119:

• Palantir hosted the first-ever SCSP AI Expo for National Competitiveness in DC as the Main Sponsor. At the booth, Palantir hosted several AIP demos and showcased the Mixed Reality Immersive Command and Control (IC2).

• At the AI Expo, Palantir CTO Shyam Sankar released the opportunity for anyone to sign up and get instant access to Palantir AIP with a credit card (full keynote). The first 400 sign-ups receive $500 free to use (link to sign up). Is Palantir finally opening to the mass market?

• Analysts updated their price targets after the reports. Interestingly, Citi’s Tyler Radke raised the price target to $25 from $20. Before the Q4 results, he was one of the most bearish analysts with a $10 price target. Karped?

Source: TipRanks

Palantweets

Tweet of the week

Karped.

Yours,
Arny

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Disclaimer: The views and opinions expressed above are current as of the date of this document and are subject to change without notice. Materials referenced above will be provided for educational purposes only. None of the above will include investment advice, a recommendation or an offer to sell, or a solicitation of an offer to buy, any securities or investment products