*The growth was boosted by more Govt clients spending on Covid-19 (FDA & NHS England) and the US Army
2a/ $PLTR - Commercial Clients
- It was $482M grew 22% YoY
- This experienced slow-down, as we saw only 4% growth YoY in Qtr-4 (Many of the new contracts were not recognized)
- The US Commercial part of the business is growing the fastest as FY 2020 - 107% growth YoY
Cont'd
2b/ $PLTR Commercial
- They signed lots of new commercial clients that were NOT RECOGNIZED YET - signed almost 21 Contracts (12 were worth 10M+; 9 were 5M+);
- Smaller sizes are growing faster with over 50% growth
- The IBM Partnership with scale this number further in 2021
3a/Let's talk $PLTR Clients:
- Finished the year recognizing Total customers of 125;
- Top 20-customer concentration risk is decreasing by (6%)
Although, they are generating more as
- Avg. Revenue of Top 20 Customers:
- FY 2020: $24M -> $33M (34% Growth)
Contd
3b/ $PLTR :
- Avg. Rev. Per Customer (ARPU): From: Q3 2019: 4.2M -> Q3-2020: 5.8M (38% G) -> FY 2020: 7.9M (41% G)
- $42M from new customers
- Important, they are upselling and retaining high net-dollar retention as they don't 'always' need to attract new clients to grow Revs
4/ $PLTR Contribution margins - measure of efficiency in selling and delivering software to clients (Revs - cost)
- FY 2020 improved: 21% -> 54%.
- They are improving the way they set up new clients
- Led Gross margins up 81%
- This has always been important for scale & for $PLTR
5/ $PLTR - Contract Value - Why Q4 looks weaker:
- RPO (Remaining performance obligations) it represents the non-cancelable contracted revs that has not yet been recognized.
- Overall RPO was Up 114% YoY – I suspect this will be recognized in Q1-2021 across 2021 and years out
5a) $PLTR Contract value are increasing & big
- $2.8B CV as of Dec. 31, 2020, up 24% YoY and the length are extending out - this is both good for long-T shareholders, but bad for ST.
- Overall 49% Growth YoY
- Also in 2020 meaning more people are testing out PLTR’s products
6/ $PLTR My personal takes & future expectations:
• $PLTR Guides for $4B in 2025 revenue and 30% growth in 2021 is just being conservative
• In 2020, $PLTR was primarily focused on helping with Covid clients as Covid was a surprise.
• Best kept secret ->
7/ My thoughts:
- In 2020, $PLTR could not focus much on the commercial side + businesses were not spending aggressively until yet they got clarity
- Lots of revenue will be recognized in 2021- this Qtr is deceptive, but expect growth in 21 as they've guided for Q1- 47% Growth
8/ $PLTR
- The best part is that we will see more from the commercial since they are less than <5% penetrated - only at 8/100 Fortune and 36/300 Global corporations
- Expect more from the Launched partnership with IBM - they will benefit from the scale of IBM’s 2,500 Sales team
9/ $PLTR Stock Performance:
- Expiry lock-up happens this week where 4/5th of shares will be sold including those of Peter Thiel & execs
- This presents a buying opportunity b'cos from Feb 25, the stock will heal
- Expect to hear more partnerships as Foundry 21 is launched
10/ The future of big data and analytics to drive significant business performance is huge! We are still in the early innings!
Thanks for reading!
Kindly help to share! What did I miss? Any Q? Open to feedback $ long $PLTR!
Leading Canadian provider of cloud-based software solutions designed to improve efficiency within the Legal tech industry holds a MONOPOLY.. yes extremely rare.
Q2-2021 (3-mths) Revenues grew $33M (96% YoY)
Cont'd below..
$DND $DND.TO
Financials:
- For the 6-months ended 2020 with $55M (63% YoY)
- Guidance for June 30, 2022: Revenue of over $340M (> +100% Growth) *includes acquisition of DoProcess*
Most of their acquisitions are being integrated earlier than expected
Adj. EBITDA $200M (below)
$DND $DND.TO
Managements goal:
They are focused on dominating the legal and real-state tech platform markets within Canada, the UK & Australia.
Hence, the strategy is to continue:
- Acquisitions to capture competitors
• Broaden and expand customer base
• Innovate platforms
- Rev of $89M vs Exp $75M Exp. (16% beat)
- 146% Growth YoY (58% organic growth as MP reps $31M
- EPS: $0.21 vs Exp $0.17 (23% beat) - 425% earnings growth
Cont'd - Hope you find helpful! - 🙌
1b/ Financials $APPS:
- GP expansion – 166% – due to content
- GM 43% - content media, apps business based on revenue mix is driving margin expansion
- Ops. margin expanded by 23.2%.
- Adj. EBITDA up by 302% Y/Y to $22.51M; and margin expanded by 25.4%
- FCF keeps improving
2a/
- Overall International revenue is gradually representing a much higher share than US
- Revenue Per Device (RPD Growth) which is key metric is growing - nearly 70% growth in Int'l
- Int'l supply revenue for media grew 200% YoY
- Primarily from partners such as Samsung, Xaomi
Digital Turbine, a platform provider for building apps, enabling content discovery and mobile digital ads
Why I'm bullish L-T: 1/ They have a strong competitive position within the mobile operator-advertiser niche for android devices.
Cont'd -
2/ $APPS Growth Pillars:
- SingleTap is a new product where a user can automatically download an app in a single-tap without visiting the actual app
- Mobile Posse: Product that goes natively on a phone and includes news, sports, ads etc.
- 5G roll-out and Increased phone ads
3/ $APPS software is installed on over 450M+ phones, and this total is increasing by 20M phones per month
$APPS is increasingly building additional revenue streams, such as providing content for carriers such as Sprint
Major clients include Samsung, AT&T, Verizon, Uber.
Amidst the noise, I took a weekend to learn and listen to one of the best investors of our time I have admired @altcap!
Founder of $AGC SPAC and one of the earliest Investors in $ZG $SNOW.
Below are a few things I learned: THREAD 👇
Background:
He started out as a securities lawyer and graduated from Harvard MBA. Founded a couple starts-ups early.
In 08' - He founded Altimeter Capital, where they focus on investing in companies in the tech sector. They manage both public and private growth equity funds.
Since 2011, holding an equal-weight portfolio of his fund’s top-20 13F positions would have generated Avg. annual returns of 30%.
Brad was one of the best earliest investors that identified potentials of
$FB, $ZG , $UBER $EXPE ,Bytedance, $PDD
Before any of them became big!