Palantir Technologies Inc.PLTR

Palantir Technologies Inc. Earnings Per Share Disclosure

10-KFiled Feb 17, 20262 min read
Earnings Per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted earnings per share attributable to common stockholders (in thousands, except per share amounts):
As of December 31,
202520242023
Numerator
Net income attributable to common stockholders for diluted earnings per share$1,625,033 $462,190 $209,825 
Denominator
Weighted-average shares used in computing earnings per share:
Basic2,369,612 2,250,163 2,147,446 
Effect of dilutive shares195,585 200,655 150,481 
Diluted2,565,197 2,450,818 2,297,927 
Earnings per share
Earnings per share attributable to common stockholders:
Basic$0.69 $0.21 $0.10 
Diluted$0.63 $0.19 $0.09 
Diluted earnings per share is calculated using our weighted-average shares of outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. There were outstanding potentially dilutive common stock equivalents for stock options and RSUs combined of 1.1 million and 175.2 million for the years ended December 31, 2025 and 2023, respectively, which were excluded from the computation of diluted earnings per share attributable to common stockholders due to their antidilutive effect. There were no outstanding potentially dilutive common stock equivalents for stock options or RSUs for the year ended December 31, 2024.
As of December 31, 2025 and 2024, the Company had 11.3 million and 6.4 million Time-Vesting SARs outstanding, respectively, of which the maximum number of potentially dilutive shares of Class A common stock upon vesting would be the fraction that equals the maximum appreciation divided by the Company’s Class A common stock price at that time. No Time-Vesting SARs were outstanding as of December 31, 2023.

Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 18, 2025
2023Feb 20, 2024

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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