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Palantiers stock price rose as much as 10% on Wednesday after the company reported its first quarterly profit in nearly five years.
The stock rose as high as $15.94 a share on Wednesday afternoon.
The stock gained 8.6% in the week ending April 15.
Palantier said it expects revenue for the first quarter to be $7.6 million, up $2.5 million from a year ago.
It expects to earn $4.4 million, or $1.7 per share, in the current quarter.
The company said the first-quarter results, which include $5.7 million in revenue, were up 10% over the same period last year.
Palantier was founded in 1982 and is headquartered in Palo Alto, California.
It is a cloud computing company that sells cloud computing services to enterprises, universities and government agencies.
The price of Palanti is driven by its technology, which is used to manage cloud-based data, and by its focus on security, security-oriented computing and customer relationships.
The $1 billion acquisition of Palanti has raised $4 billion in funding from a number of large investors including Andreessen Horowitz, Google Ventures, Union Square Ventures, Andreessen Media, Accel Partners and others.
