Dynex Capital Inc
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Financials : Mortgage Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

Dynex Capital, Inc. is an internally managed mortgage real estate investment trust (REIT), which primarily invests in residential and commercial mortgage-backed securities (MBS). The Company's objective is to provide attractive risk-adjusted returns to its shareholders over the long term that are reflective of a leveraged, high quality fixed income portfolio with a focus on capital preservation. The Company seeks to provide returns to its shareholders primarily through the payment of regular dividends and through capital appreciation of its investments. The Company primarily invests in Agency MBS, including residential MBS (RMBS), commercial MBS (CMBS) and CMBS interest-only (IO) securities. The Company also have an investment in non-Agency MBS, which consist mainly of CMBS IO.

Price
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$16.21
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Day's High
16.27
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Today's volume of 292,034 shares is on pace to be much lighter than DX's 10-day average volume of 976,522 shares.

292,034

Palantir Reports Revenue Growth of 31% for Q1 2022, US Commercial Revenue up 136% Y/Y in Q1 2022

7:00 am ET May 9, 2022 (BusinessWire) Print

Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2022.

Q1 2022 Highlights

Total revenue grew 31% year-over-year to $446 million Commercial revenue grew 54% year-over-year US commercial revenue grew 136% year-over-year Government revenue grew 16% year-over-year Customer count grew 86% year-over-year Loss from operations of $(39) million, representing a margin of (9)%, up 2,400 basis points year-over-year and 500 basis points sequentially Adjusted income from operations of $117 million, representing a margin of 26% Cash from operations of $35 million, representing an 8% margin Adjusted free cash flow of $30 million, representing a 7% margin GAAP net loss per share, diluted of $(0.05) Adjusted earnings per share, diluted of $0.02

Q1 2022 Financial Summary

                                                                      First Quarter                                            First Quarter
 (Amounts in thousands, except percentages and per share amounts)
                                                                  -------------------- ---------------------------------------------------------------------------------------
                                                                                                                   Amount
                                                                  --------------------------------------------------------------------------------------------------
                                                                                     $                    $  446,357      
 Revenue
                                                                            31 %                       
 Year-over-year growth
                                                                                                       
  
                                                                         Amount                              Amount                              Margin               Margin
  
                                                                  -------------------- ------------------------------------------------   -------------------- -------------------
                                                                                     $                    $  (39,439 )                                      (9         (9 )%
 Loss from Operations
                                                                                     $                    $  117,390                     26         26 %
 Adjusted Income from Operations
                                                                                     $                    $   35,477                      8          8 %
 Cash Flow from Operations
                                                                                     $                    $   29,786                      7          7 %
 Adjusted Free Cash Flow
                                                                                     $                    $ (101,379 )                       
 Net Loss
                                                                                     $                    $   44,713      
 Adjusted Net Income
                                                                                     $                    $  121,702                     27         27 %
 Adjusted EBITDA
                                                                                     $                    $    (0.05 )                       
 GAAP Net Loss Per Share, Diluted
                                                                                     $                    $     0.02      
 Adjusted Earnings Per Share, Diluted
----------------------------------------------------------------- -------------------- -------------------- -------- -------------------- -------------------- -------------------

Outlook

For Q2 2022:

We are guiding to a base case of $470 million in revenue. There is a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events. We expect adjusted operating margin of 20%.

For full year 2022, we continue to expect:

Adjusted operating margin of 27%.

Per long-term guidance policy, as provided by our Chief Executive Officer, Alex Karp, we continue to expect:

Annual revenue growth of 30% or greater through 2025.

Earnings Webcast

A live public webcast will be held at 6:00 a.m. MT / 8:00 a.m. ET today to discuss the results for our first quarter ended March 31, 2022 and financial outlook. The webcast can be accessed by registering online at https://palantir.events/palantir-2022-q1. A replay of the webcast will be available at https://investors.palantir.com following the event.

An investor presentation, including supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, will be available through Palantir's Investor Relations website at https://investors.palantir.com, as well as a letter from our Chief Executive Officer, which will be available through Palantir's website at https://www.palantir.com.

Forward-Looking Statements

This press release and statements on our earnings webcast contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product development, distribution, and pricing, expected benefits of and applications for our software platforms, business strategy and plans (including strategy and plans relating to our sales and marketing efforts, sales force, partnerships, and customers), investments in our business, market trends and market size, opportunities (including growth opportunities), our expectations regarding our recent and potential investments in, and commercial contracts with, various entities, including special purpose acquisition companies and other privately-held or publicly-traded companies, and positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Words such as "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to risks detailed in our filings with the Securities and Exchange Commission (the "SEC"), including in our annual report on Form 10-K for the fiscal year ended December 31, 2021 and other filings and reports that we may file from time to time with the SEC, including our quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2022. In particular, the following factors, among others, could cause our results to differ materially from those expressed or implied by such forward-looking statements: our ability to successfully execute our business and growth strategy; the sufficiency of our cash and cash equivalents to meet our liquidity needs; the demand for our platforms in general; our ability to increase our number of new customers and revenue generated from customers; our ability to realize some or all of the total contract value of customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; our long and unpredictable sales cycle; our ability to successfully grow our direct sales force and to successfully execute our channel sales and other strategic initiatives with third parties; our ability to retain and expand our customer base; the fluctuation of our results of operations and our key business measures on a quarterly basis in future periods; the seasonality of our business; the implementation process for our platforms, which may be complex and lengthy; our ability to successfully develop and deploy new technologies to address the needs of our existing or prospective customers; our ability to make our platforms easier to install and consume; our ability to maintain and enhance our brand and reputation; our ability to maintain and enhance our culture as our business grows; news or social media coverage about us, including but not limited to coverage that presents, or relies on, inaccurate, misleading, incomplete, or otherwise damaging information; the impact of recent or future global macroeconomic and geopolitical events, such as Russia's invasion of Ukraine, on the business and operations of our company or of our existing or prospective customers and partners; and any breach or access to customer or third-party data.

The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Past performance is not necessarily indicative of future results.

Additional Definitions

For the purpose of this press release and our earnings webcast, the value of deals closed and total contract value (TCV) closed each reflect the total value of contracts that have been entered into with, or awarded by, our government and commercial customers.

The value of deals closed and TCV closed include existing contractual obligations and presume the exercise of all contract options available to our customers and no termination of contracts; however, the majority of our contracts are subject to termination provisions, including for convenience, and there can be no guarantee that contracts are not terminated or that contract options will be exercised.

Non-GAAP Financial Measures

This press release and the accompanying tables contain the non-GAAP financial measures adjusted income from operations, which excludes stock-based compensation and related employer payroll taxes; adjusted operating margin; adjusted free cash flow; adjusted free cash flow margin; adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"); adjusted EBITDA margin; adjusted net income; and adjusted earnings per share ("EPS"), diluted.

We believe these non-GAAP financial measures and other metrics described in this press release help us evaluate our business, identify trends affecting Palantir's business, formulate business plans and financial projections, and make strategic decisions. We exclude stock-based compensation, which is a non-cash expense, from these non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information regarding operational performance and provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team. We exclude employer payroll taxes related to stock-based compensation, as it is difficult to predict and outside of Palantir's control. Our definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Further, these metrics have certain limitations, as they do not include the impact of certain expenses that are reflected in our consolidated statements of operations. For example, adjusted free cash flow does not reflect our future contractual commitments or the total increase or decrease in our cash balances for a given period. Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP.

We compensate for these limitations by providing a reconciliation of each of these non-GAAP measures to the most comparable GAAP measure. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measure.

A reconciliation table of the most comparable GAAP financial measure to each non-GAAP financial measure used in this press release is included at the end of this release. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, reconciling items that may be incurred in the future such as stock-based compensation and related employer payroll taxes, the effect of which may be significant.

Available Information

Palantir uses its Investor Relations website at https://investors.palantir.com as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Palantir's Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, and webcasts.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

                                                                                                                    
                                                                                                                              Palantir Technologies Inc.
                                                                                                                    Condensed Consolidated Statements of Operations
                                                                                                                       (in thousands, except per share amounts)
                                                                                                                                      (unaudited)
                                                                                                                                                                        
                                                                                                                                                                   Three Months Ended March 31,
                                                                                                                                                         ----------------------------------------------------------------------------------------------------------------------
                                                                                                                                           2022                                                  2021
                                                                                                                                                         -------------------------------------------------                        -------------------------------------------------
Revenue                                                                                                                                                $                    $   446,357                      $                    $   341,234  
Cost of revenue (1)                                                                                                                        94,403          74,111  
                                                                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Gross profit                                                                                                                              351,954         267,123  
Operating expenses:                                                                                                                                                       
                                                                                                                                          160,485         136,097  
    Sales and marketing (1)
                                                                                                                                           88,601          98,471  
    Research and development (1)
                                                                                                                                          142,307         146,569  
    General and administrative (1)
                                                                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
                                                                                                                                          391,393         381,137  
        Total operating expenses
                                                                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Loss from operations                                                                                                                      (39,439 )                         (114,014 )
                                                                                                                                              547             376  
    Interest income
                                                                                                                                             (594 )                           (1,840 )
    Interest expense
                                                                                                                                          (59,870 )                           (4,894 )
    Other income (expense), net
                                                                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Loss before provision for income taxes                                                                                                    (99,356 )                         (120,372 )
Provision for income taxes                                                                                                                  2,023           3,102  
                                                                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Net loss                                                                                                                                               $                    $  (101,379 )                                       $                    $  (123,474 )
                                                                                                                                    ==================== ==================== ========= ==================== ==================== ==================== ========= ====================
Net loss per share attributable to common stockholders, basic                                                                                          $                    $     (0.05 )                                       $                    $     (0.07 )
                                                                                                                                    ==================== ==================== ========= ==================== ==================== ==================== ========= ====================
Net loss per share attributable to common stockholders, diluted                                                                                        $                    $     (0.05 )                                       $                    $     (0.07 )
                                                                                                                                    ==================== ==================== ========= ==================== ==================== ==================== ========= ====================
Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, basic     2,036,307       1,821,158  
                                                                                                                                    ==================== ==================== ========= ==================== ==================== ==================== ========= ====================
________________
    (1) Includes stock-based compensation expense as follows (in thousands):
                        Three Months Ended March 31,                                                Three Months Ended March 31,
                                           ---------------------------- --------------------------------------------------------------------------------------------------------------------
                                    2022                                    2022                                                 2021
                                           ---------------------------- ------------------------------------------------                        ------------------------------------------------
                                                                      $                    $   11,677                      $                    $   15,977  
            Cost of revenue
                                                         49,272         57,286  
            Sales and marketing
                                                         26,905         37,874  
            Research and development
                                                         61,469         82,594  
            General and administrative
                                           ---------------------------- -------------------- -------- -------------------- -------------------- -------------------- -------- --------------------
                                                                      $                    $  149,323                      $                    $  193,731  
            Total stock-based compensation
                                           ============================ ==================== ======== ==================== ==================== ==================== ======== ====================
                                                                                                Palantir Technologies Inc.
                                                                                           Condensed Consolidated Balance Sheets
                                                                                                      (in thousands)
                                                                                                        (unaudited)
                                                                                                          
                                                                        As of March 31,                                      As of December 31,
                                                                                           --------------------------------------------------                        --------------------------------------------------
                                                                             2022                                                   2021
                                                                                           --------------------------------------------------                        --------------------------------------------------
Assets                                                                                                       
Current assets:                                                                                              
                                                                                         $                    $  2,269,411                      $                    $  2,290,674  
    Cash and cash equivalents
                                                                              33,804           36,628  
    Restricted cash
                                                                             256,554          190,923  
    Accounts receivable
                                                                             252,563          234,153  
    Marketable securities
                                                                             115,042          110,872  
    Prepaid expenses and other current assets
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                           2,927,374        2,863,250  
        Total current assets
Property and equipment, net                                                   41,866           31,304  
Restricted cash, noncurrent                                                   29,222           39,612  
Operating lease right-of-use assets                                          224,888          216,898  
Other assets                                                                  95,829           96,386  
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Total assets                                                                             $                    $  3,319,179                      $                    $  3,247,450  
                                                                      ==================== ==================== ========== ==================== ==================== ==================== ========== ====================
Liabilities and Stockholders' Equity                                                                         
Current liabilities:                                                                                         
                                                                                         $                    $     27,454                      $                    $     74,907  
    Accounts payable
                                                                             150,176          155,806  
    Accrued liabilities
                                                                             218,521          227,816  
    Deferred revenue
                                                                             232,908          161,605  
    Customer deposits
                                                                              40,045           39,927  
    Operating lease liabilities
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                             669,104          660,061  
        Total current liabilities
Deferred revenue, noncurrent                                                  33,244           40,217  
Customer deposits, noncurrent                                                 22,276           33,699  
Operating lease liabilities, noncurrent                                      227,617          220,146  
Other noncurrent liabilities                                                   2,192            2,297  
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Total liabilities                                                            954,433          956,420  
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Stockholders' equity:                                                             
                                                                               2,046            2,027  
    Common stock
                                                                           7,953,856        7,777,085  
    Additional paid-in capital
                                                                              (4,044 )                            (2,349 )
    Accumulated other comprehensive loss
                                                                          (5,587,112 )                        (5,485,733 )
    Accumulated deficit
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Total stockholders' equity                      2,364,746        2,291,030  
                                                                      -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Total liabilities and stockholders' equity                    $                    $  3,319,179                      $                    $  3,247,450  
                                                                      ==================== ==================== ========== ==================== ==================== ==================== ========== ====================
                                                                                                        Palantir Technologies Inc.
                                                                                              Condensed Consolidated Statements of Cash Flows
                                                                                                              (in thousands)
                                                                                                                (unaudited)
                                                                                                                           
                                                                                                                      Three Months Ended March 31,
                                                                                                         ---------------------------------------------------------------------------------------------------------------------------
                                                                                           2022                                                    2021
                                                                                                         -------------------------------------------------                        ------------------------------------------------------
Operating activities                                                                                                      
Net loss                                                                                               $                    $  (101,379 )                                       $                    $       (123,474 )
                                                                                                                          
    Adjustments to reconcile net loss to net cash provided by operating activities:
                                                                                            4,312                3,237  
        Depreciation and amortization
                                                                                          149,323              193,731  
        Stock-based compensation
                                                                                               (3 )                                 1,846  
        Deferred income taxes
                                                                                           10,142                6,477  
        Non-cash operating lease expense
                                                                                           62,843       --  
        Unrealized and realized (gain) loss from marketable securities, net
                                                                                           (2,751 )                                   771  
        Other operating activities
                                                                                                                          
        Changes in operating assets and liabilities:
                                                                                          (65,867 )                                 4,480  
            Accounts receivable
                                                                                           (4,320 )                                (9,753 )
            Prepaid expenses and other current assets
                                                                                            2,891               (6,711 )
            Other assets
                                                                                          (47,404 )                                    51  
            Accounts payable
                                                                                           (5,334 )                                44,488  
            Accrued liabilities
                                                                                          (16,335 )                               (11,952 )
            Deferred revenue, current and noncurrent
                                                                                           59,822               20,825  
            Customer deposits, current and noncurrent
                                                                                          (10,388 )                                (7,132 )
            Operating lease liabilities, current and noncurrent
                                                                                              (75 )                                    (3 )
            Other noncurrent liabilities
                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
Net cash provided by operating activities                                                  35,477              116,881  
Investing activities                                                                                                      
Purchases of property and equipment                                                       (15,215 )                                  (708 )
Purchases of marketable securities                                                        (89,500 )                        --  
Proceeds from sales of marketable securities                                                8,247       --  
                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
Net cash used in investing activities                                                     (96,468 )                                  (708 )
Financing activities                                                                                                      
Proceeds from the exercise of common stock options                                         27,225              208,860  
Other financing activities                                                                     16               (2,506 )
                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
Net cash provided by financing activities                                                  27,241              206,354  
Effect of foreign exchange on cash, cash equivalents, and restricted cash                    (727 )                                (2,197 )
                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
Net increase (decrease) in cash, cash equivalents, and restricted cash                    (34,477 )                               320,330  
Cash, cash equivalents, and restricted cash - beginning of period                       2,366,914            2,128,146  
                                                                                    -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------

Palantir Technologies Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited)

Non-GAAP Reconciliations

Adjusted Income from Operations and Adjusted Operating Margin (in thousands, except percentages)
                                                        
                                             Three Months Ended March 31,                                                  Three Months Ended March 31,
                                                                ---------------------------- ------------------------------------------------------------------------------------------------------------------------
                                                         2022                                     2022                                                   2021
                                                                ---------------------------- --------------------------------------------------                        --------------------------------------------------
Loss from operations                                                                       $                    $    (39,439 )                                         $   (114,014 )
Add: stock-based compensation                                                  149,323          193,731  
Add: employer payroll taxes related to stock-based compensation                  7,506           36,866  
                                                                ---------------------------- -------------------- ---------- --------------------                      -------------------- ---------- --------------------
Adjusted income from operations                                                            $                    $    117,390                        $    116,583  
                                                                ============================ ==================== ========== ====================                      ==================== ========== ====================
Adjusted operating margin                                                           26 %                                34 %
Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin (in thousands, except percentages)
                                                                 
                                                      Three Months Ended March 31,                                                  Three Months Ended March 31,
                                                                         ---------------------------- ------------------------------------------------------------------------------------------------------------------------
                                                                  2022                                     2022                                                   2021
                                                                         ---------------------------- --------------------------------------------------                        --------------------------------------------------
Net cash provided by operating activities                                                           $                    $     35,477                        $    116,881  
Cash paid for employer payroll taxes related to stock-based compensation                  9,524           34,802  
Less: purchases of property and equipment                                               (15,215 )                              (708 )
                                                                         ---------------------------- -------------------- ---------- --------------------                      -------------------- ---------- --------------------
Adjusted free cash flow                                                                             $                    $     29,786                        $    150,975  
                                                                         ============================ ==================== ========== ====================                      ==================== ========== ====================
Adjusted free cash flow margin                                                                7 %                                44 %
Adjusted EBITDA (in thousands)
                                                        
                                             Three Months Ended March 31,                                                Three Months Ended March 31,
                                                                ---------------------------- --------------------------------------------------------------------------------------------------------------------
                                                         2022                                    2022                                                 2021
                                                                ---------------------------- ------------------------------------------------                        ------------------------------------------------
Net loss                                                                                   $                    $ (101,379 )                                         $ (123,474 )
Less: interest income                                                           (547 )                            (376 )
Add: interest expense                                                            594          1,840  
Add: other (income) expense, net                                              59,870          4,894  
Add: provision for income taxes                                                2,023          3,102  
Add: depreciation and amortization                                             4,312          3,237  
Add: stock-based compensation                                                149,323        193,731  
Add: employer payroll taxes related to stock-based compensation                7,506         36,866  
                                                                ---------------------------- -------------------- -------- --------------------                      -------------------- -------- --------------------
Adjusted EBITDA                                                                            $                    $  121,702                        $  119,820  
                                                                ============================ ==================== ======== ====================                      ==================== ======== ====================
Adjusted Earnings Per Share, Diluted (in thousands, except per share amounts)
                                                                                    
                                                                         Three Months Ended March 31,                                                 Three Months Ended March 31,
                                                                                            ---------------------------- ----------------------------------------------------------------------------------------------------------------------
                                                                                     2022                                     2022                                                  2021
                                                                                            ---------------------------- -------------------------------------------------                        -------------------------------------------------
Net loss                                                                                                               $                    $  (101,379 )                                         $  (123,474 )
Add: stock-based compensation                                                                             149,323         193,731  
Add: employer payroll taxes related to stock-based compensation                                             7,506          36,866  
Less: income tax effect related to adjustments (1)                                                        (10,737 )                          (24,472 )
                                                                                            ---------------------------- -------------------- --------- --------------------                      -------------------- --------- --------------------
Adjusted net income attributable to common stockholders, diluted                                                       $                    $    44,713                        $    82,651  
                                                                                            ============================ ==================== ========= ====================                      ==================== ========= ====================
Weighted-average shares used in computing GAAP net loss per share, diluted                              2,036,307       1,821,158  
                                                                                            ============================ ==================== ========= ====================                      ==================== ========= ====================
Adjusted weighted-average shares used in computing adjusted earnings per share, diluted (2)             2,209,310       2,330,865  
                                                                                            ============================ ==================== ========= ====================                      ==================== ========= ====================
________________
(1)   Income tax effect is based on long-term estimated annual effective tax rates of 22.2% for the periods ended 2022 and 2021. Income tax effect is based on long-term estimated annual effective tax rates of 22.2% for the periods ended 2022 and 2021.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005192/en/

SOURCE: Palantir Technologies Inc.

Investor Relations 
Rodney Nelson
investors@palantir.com 

Media 
Lisa Gordon
media@palantir.com
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