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Palantir CFO: We're Not Primarily Focused on Government Contracts

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Palantir went public via a direct listing on Wednesday, Sept. 30.

The company provides its product to government agencies. It's backed by Silicon Valley venture capitalist Peter Thiel, among others.

Palantir's CFO David Glazer joined TheStreet to discuss going public via a direct listing, the path to profitability, what the next five years looks like, and how they're reaching retail investors.

In a statement last week, Palantir said its share price averaged $9.17 volume-weighted in private sales on Sept. 1. That indicated a valuation of about $19 billion for the company ahead of its listing, Barron’s reported.

For the third quarter, Palantir forecast revenue of $278 million to $280 million, representing year-over-year growth of 46% to 47%.

It predicted non-GAAP operating income of $60 million to $62 million, excluding stock-based compensation, related payroll tax expenses and approximately $54 million of one-time expenses related to the direct listing.

The company also sees non-GAAP operating income of $6 million to $8 million, excluding stock-based compensation and related payroll tax expenses but including the one-time direct listing expenses.

For all of 2020, Palantir estimated revenue at $1.05 billion to $1.06 billion, representing year-over-year growth of 41% to 43%.

Palantir put non-GAAP operating income at $116 million to $126 million, excluding stock-based compensation, related payroll tax expenses and the approximately $54 million of one-time expenses related to the listing.

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