Record-breaking Performance

Palantir Technologies Inc. witnessed an unprecedented surge in its stock price, climbing 27% to a historic high. This remarkable achievement was fueled by the company's robust fourth-quarter results, which showcased a significant 36% increase in annual revenue to $828 million, exceeding market expectations.

Financial Highlights

The company's net income saw a 10% rise to $79 million, with earnings per share (EPS) standing at $0.03. A notable driver behind this growth was the US revenue, which escalated by 38% to $1.90 billion. This was propelled by a 54% surge in US commercial revenue and a 30% increase in government contracts.

A New Era of Growth

CEO Alexander Karp, in his letter to shareholders, emphasized that Palantir has embarked on a "new phase" of growth. He highlighted the company's momentum across various sectors, both commercial and governmental, as unparalleled. "The advancements we are witnessing are not just incremental but represent a significant leap forward for our business," Karp stated.

At 9:51 am ET, Palantir's shares were trading at $106.88, marking a new all-time high.