Palantir Technologies Inc. stock research
FY2023 Q4
Palantir Technologies (PLTR) Gross Margin — Quarter Ended Dec 31, 2023
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Gross margin improved relative to both prior periods, as cost of revenue grew at a slower rate than revenue.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Gross margin improved relative to both prior periods, as cost of revenue grew at a slower rate than revenue.
- The strongest observable driver is the gross margin figure, which improved sequentially and year-over-year, indicating that a larger share of revenue converted to gross profit in the current period.
- Compared to the immediately preceding quarter, revenue was higher, gross profit was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, and gross margin also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
82.1%
Gross profit
$499.7M
Revenue
$608.4M
Cost of revenue
$108.6M
Quarter-over-quarter change
+1.5 pts
Year-over-year change
n/a
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $525.2M | $417.5M | $107.6M | 79.5% |
| Jun 30, 2023 | $533.3M | $426.4M | $106.9M | 80.0% |
| Sep 30, 2023 | $558.2M | $450.2M | $107.9M | 80.7% |
| Dec 31, 2023 | $608.4M | $499.7M | $108.6M | 82.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
+1.5 pts
Year-over-year change
Year-ago quarter unavailable
n/a
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the gross margin figure, which improved sequentially and year-over-year, indicating that a larger share of revenue converted to gross profit in the current period.
Compared to the immediately preceding quarter, revenue was higher, gross profit was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, and gross margin also improved.
Monitor whether the relationship between cost of revenue and revenue continues to support gross margin improvement in future periods.