Palantir Posts 93 Percent Revenue Jump on AI Platform Demand
Palantir Technologies reported Q2 2026 revenue of $1.935 billion, a 93 percent increase year over year, driven by its Artificial Intelligence Platform. US commercial revenue surged 149 percent to $764 million. The company raised its full-year 2026 revenue guidance to $8.15 billion.
Palantir Technologies reported second-quarter 2026 revenue of $1.935 billion on August 3, 2026, a 93 percent increase from the same period in 2025, driven by surging demand for its Artificial Intelligence Platform.
The results beat Wall Street's consensus estimate of about $1.81 billion. US commercial revenue grew 149 percent year over year and 28 percent quarter over quarter to $764 million. The remaining deal value for the US commercial segment rose 124 percent year over year to $6.238 billion.
US government revenue grew 90 percent year over year to $809 million. The company reported GAAP net income of $1.062 billion, a 55 percent margin. Adjusted earnings per share came in at $0.41, beating the consensus estimate of $0.35. Palantir's "Rule of 40" score, which combines revenue growth and operating margin, reached 155 percent.
Following the results, Palantir raised its full-year 2026 revenue guidance to $8.150 to $8.158 billion, up from prior estimates of about $7.65 to $7.66 billion. The company raised its US commercial revenue guidance to exceed $3.424 billion, representing at least 134 percent growth for the year.
Palantir shares surged 12 percent immediately after the announcement. The stock had been trading down roughly 30 percent year to date before the report, reflecting broader concerns about AI valuations and competition.
CEO Alex Karp described the broader AI industry as entering a "sovereign AI revolution." The company raised its adjusted income from operations guidance to $4.889 to $4.897 billion and its adjusted free cash flow guidance to $4.5 to $4.7 billion.
