Palantir turned in its first-quarter earnings report on Monday, showing revenues surged 49% year-over-year.- In the company's conference call, CFO David Glazer revealed Palantir accepts
bitcoin as payment and has considered adding the cryptocurrency to its balance sheet. - "The short answer is yes, we're thinking about it...In terms of accepting Bitcoin from our customers, we do accept it," Glazer said.
Palantir released its first-quarter earnings report on Monday and there were a few standout comments in the company's follow-up conference call.
Palantir's chief financial officer and treasurer David Glazer was asked about bitcoin as a payment method and the possibility of adding cryptocurrency to the firm's balance sheet.
Glazer said that not only has Palantir been considering adding bitcoin to its balance sheet, it also accepts the cryptocurrency as a form of payment from customers.
"Thanks for the question. The short answer is yes, we're thinking about it and we're even discussing this early, taking a look at our balance sheet in cash at quarter-end, including $151 million in adjusted free cash flow in Q1. So, it's definitely on the table from a treasury perspective as well as other investments that we look across our business and beyond," Glazer said.
"On the other side of that, in terms of accepting Bitcoin from our customers, we do accept it," the CFO added.
Palantir turned in revenue of $341 million vs. analyst expectations for $332.2 million in the first quarter, while adjusted earnings per share hit $0.04, matching analyst estimates.
The big data company also reaffirmed that it expects annual revenue growth of +30% for the next four years.
The stock traded down 1.79%, recovering from a premarket drop, as of 9:31 a.m. ET on Tuesday.