Palantir earnings and forecast do not live up to estimates. Arrow down.

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Palantir . techniques

First-quarter results posted weak, along with June quarter guidance that missed Wall Street’s earlier expectations.

Palantir (trading symbol: PLTR) stock fell 20.8% Monday to $7.51. It reached an all-time low of $7.32 during the session. Year-to-date, the stock is down 60%.

Global economic and geopolitical forces appear to be weighing on the company’s near-term future, although Palantir’s well-established relationships with US government defense and intelligence agencies could be as well. Feature In a world rife with geopolitical conflicts.

For the March quarter, Palantir reported revenue of $446.4 million, an increase of 31% over a year ago, and above both company guidance And Wall Street consensus is $443 million.

On an adjusted basis, the data analytics company earned 2 cents per share for the quarter, 2 cents less than the Wall Street consensus. Under GAAP, the company lost 5 cents of its stock. Ebitda’s adjusted earnings, or EBITDA, was $121.7 million, an increase of 27%. Adjusted operating margin was 26%, three points better than the company had expected.

The company said commercial revenue of $205 million, up 54% in the first quarter, including growth of 136% from US customers, ahead of Wall Street expectations of $193 million. Government revenue grew 16% to $242 million, missing analysts’ expectations of $251 million. The company said the number of customers was up 86% from last year.

For the second quarter ending in June, Palantir directed a “base case” of $470 million in revenue, noting that there was a “broad range of potentially positive aspects of our guidance, including those driven by our role in responding to evolving geopolitical events.” Consensus The former called for $484 million in second-quarter revenue.

Palantir reiterated a previous forecast of 27% adjusted operating margins for the full year, and also reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.

Corrections and amplifications:

Palantir expects first-quarter revenue to be $443 million. An earlier version of this article incorrectly stated that the guidance was for $447 million.

Write to Eric J. Savitz at eric.savitz@barrons.com