At Palantir ($PLTR) (-1,11%) there has been such a dilution for years, as there are huge stock-based compensations, this dilutes the company so much that the growth looks more minimal.
Take a look for yourself:
Reported operating cash flow: USD 1,335 million
- less share-based compensation (SBC): 722 million dollars
- less interest income: 204 million dollars
= Actual operating cash flow: 409 million US dollars
In addition, 2019 revenue increased by ~300% but only by 50% per share
2019 (TTM at the end of the year): approx. 0,80 $ per share
2024 (for the full year): approx. 1,17 $ per share
