Palantir Technologies Inc. (PLTR) Stock: Q2 Revenue Jumps 93% as US Commercial Sales Accelerate 149%

TLDR

Table of Contents

Palantir stock jumps 14.85% overnight after a standout second-quarter report
Q2 revenue climbs 93% to $1.94 billion as US demand fuels rapid business growth
US commercial sales soar 149% while government revenue rises 90% year over year
Palantir posts a 62% adjusted operating margin and $1.22 billion free cash flow
Raised 2026 guidance targets revenue above $8.15 billion and stronger profits

Palantir Technologies reported sharp second-quarter growth as demand expanded across its commercial and government businesses. Revenue reached $1.94 billion, rising 93% from the same period last year. The results pushed Palantir stock 14.85% higher overnight to $144.31 after a 2.10% closing gain.

Palantir Technologies Inc., PLTR

Palantir Revenue Growth Strengthens in Q2

Palantir generated 19% sequential revenue growth during the second quarter. US revenue climbed 115% annually and 23% quarterly to $1.57 billion. Palantir builds data platforms that support operational decisions for commercial clients and government agencies worldwide.

GAAP operating income reached $912 million, producing a 47% margin during the quarter. Adjusted operating income totaled $1.19 billion, with the margin increasing to 62%. Meanwhile, GAAP net income reached $1.06 billion, equal to a 55% margin.

Diluted GAAP earnings reached $0.41 per share, matching adjusted earnings for the period. Cash from operations totaled $1.22 billion, representing a 63% margin. Adjusted free cash flow also reached $1.22 billion, reflecting continued strength in cash generation.

US Commercial and Government Sales Expand

US commercial revenue increased 149% annually and 28% quarterly to $764 million. US government revenue rose 90% annually and 18% quarterly to $809 million. Those gains showed balanced expansion across Palantir’s main domestic business segments.

The company closed 220 contracts worth at least $1 million during the quarter. It also secured 98 contracts above $5 million and 73 contracts exceeding $10 million. Total contract value reached $3.37 billion, representing 49% annual growth.

US commercial contract value set a company record at $2.13 billion. That figure increased 153% from the same quarter last year. Remaining US commercial deal value reached $6.24 billion, rising 124% annually and 27% quarterly.

Palantir Raises Full Year Guidance

Palantir expects third-quarter revenue between $2.16 billion and $2.164 billion. Adjusted operating income should range from $1.292 billion to $1.296 billion. The forecast points to continued growth after the company’s strong second-quarter performance.

For 2026, Palantir raised revenue guidance to between $8.15 billion and $8.158 billion. It expects US commercial revenue above $3.424 billion, representing growth of at least 134%. Adjusted operating income should reach between $4.889 billion and $4.897 billion.

The company also increased adjusted free cash flow guidance to between $4.5 billion and $4.7 billion. Palantir expects positive GAAP operating income and net income during every remaining quarter. The company ended June with $9.2 billion in cash and short-term Treasury securities.

✨ Limited Time Offer