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CLAIM #49473 · Palantir Technologies Inc. (PLTR) · 2023Q2 earnings call · Aug 7, 2023 · due Dec 31, 2023

For the full year, we expect revenue for these customers to be approximately 3% of total full year revenue.

Dave Glazer · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

ew 35% year-over-year and 4% sequentially, marking the 10th consecutive quarter of sequential growth. This highlights the velocity we are seeing in our U.S. commercial business, where we’re driving significant new customer wins and expansions. Our international commercial business grew 4% year-over-year to $129 million and remained flat sequentially. Relative to the U.S., we continue to see more muted growth with European commercial enterprises, although there remain targeted opportunities of growth internationally. Revenue from strategic commercial contracts was $19 million, compared to $33 million in the prior quarter. We expect third quarter revenue to decline to between $14 million to $16 million, and we anticipate fourth quarter revenue from these customers to continue to trend down. For the full year, we expect revenue for these customers to be approximately 3% of total full year revenue. Turning to our government segment. Government revenue grew 15% year-over-year and 4% sequentially to $302 million. U.S. Government revenue grew 10% year-over-year and declined 2% sequentially to $225 million. While we acknowledge that there are uncertainties associated with the timing of contract expansions and renewals, we maintain a strong pipeline of opportunities and remain confident in the growth of our U.S. Government business, particularly as USG TCV bookings grew 111% sequentially. International government revenue grew 31% year-over-year and 29% sequentially to $76 million. The reacceleration in our international government business was driven by our U.K. Government work. While our government business generally sees fluctuations due to the nature of funding and contract cycles, we

Verify independently

SEC filings for PLTR · Claim quote is verbatim from the 2023Q2 earnings call.