Record-Breaking Performance

Palantir Technologies Inc. witnessed its shares skyrocketing by an impressive 27.64% to an all-time high of $106.88 at 9:51 am ET on Tuesday. This surge was fueled by the company's robust fourth-quarter results, which showcased a significant 36% annual revenue increase to $828 million, exceeding market expectations.

Financial Highlights

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

CEO's Vision

Alexander Karp, the CEO of Palantir, emphasized the company's momentum in a letter to shareholders. He articulated that Palantir is entering a "new phase" of growth, marked by unprecedented advancements across both commercial and government sectors. "This is not an incremental advance or marginal acceleration of our business. This is a new phase. And the momentum we are seeing across sectors, both commercial and government, is unlike anything that has come before," Karp stated.