Palantir Technologies Inc. topped revenue expectations Tuesday morning while offering a better-than-expected top-line forecast for the current quarter, but shares fell in premarket trading after the company also delivered a widening net loss.
The data integration and software company reported a fiscal first-quarter net loss of $123 million, or 7 cents a share, compared with a loss of $54 million, or 10 cents a share, a year earlier.
After adjusting for stock-based compensation, Palantir PLTR,
Shares were down 6.4% in premarket trading Tuesday.
Palantir’s revenue for the quarter rose to $341 million from $229 million a year prior, while analysts tracked by FactSet were projecting $332 million.
For the fiscal second-quarter, Palantir anticipates revenue of $360 million, whereas the FactSet consensus calls for $344 million. The company also expects an adjusted operating margin of 23%.
The company continues to project annual revenue growth of at least 30% for 2021 through 2025.
Shares have fallen 44% over the past three months as the S&P 500 SPX,
