Palantir Posts Record Q2 2026 Growth, Raises Full-Year Guidance

On August 3, 2026, Palantir Technologies Inc. (NASDAQ: PLTR) stunned investors with a second‑quarter performance that left every metric on a high‑score card. Revenue leapt 93 percent year‑over‑year to $1.935 billion, while U.S. commercial revenue exploded 149 percent to $764 million and U.S. government revenue jumped 90 percent to $809 million.

The company closed 220 contracts worth at least $1 million, 98 contracts worth at least $5 million, and 73 contracts worth at least $10 million. Total contract value (TCV) for the quarter hit $3.373 billion, up 49 percent from the same period last year. U.S. commercial TCV was a staggering $2.132 billion, a 153 percent increase. Remaining deal value (RDV) stood at $6.238 billion, up 124 percent year‑over‑year.

Operating performance mirrored the revenue surge. GAAP income from operations reached $912 million, translating to a 47 percent margin. Adjusted income from operations climbed to $1.194 billion, a 62 percent margin, while net income attributable to common shareholders hit $1.062 billion—a 55 percent margin. Cash from operations was $1.216 billion, and the company reported $9.2 billion in cash, cash equivalents, and short‑term U.S. Treasury securities.

Palantir’s “Rule of 40” score—a metric that adds revenue growth and adjusted operating margin—shot up to 155 percent, the highest ever for the firm and well beyond the 40 percent benchmark many SaaS companies use.

CEO Alex Karp highlighted the company’s focus on “AI sovereignty” as the engine behind the uptick. He emphasized that Palantir is uniquely positioned to convert data tokens into real economic value while protecting customers’ competitive advantage from becoming training data for future models.

With the Q2 data in hand, Palantir raised its full‑year 2026 guidance. Revenue is now expected to fall between $8.150 billion and $8.158 billion, up from the prior estimate of $7.73 billion. U.S. commercial revenue guidance is now projected to exceed $3.424 billion, implying a growth rate of at least 134 percent. Adjusted income from operations guidance is now $4.889 billion to $4.897 billion, and adjusted free cash flow guidance is $4.5 billion to $4.7 billion.

For Q3, Palantir expects revenue of $2.160 billion to $2.164 billion and adjusted income from operations of $1.292 billion to $1.296 billion.

Palantir’s portfolio spans government, commercial, and enterprise markets. Its platforms—Gotham, Foundry, Apollo, and the newer Artificial Intelligence Platform (AIP)—serve U.S. intelligence agencies, state and local governments, and private firms such as Morgan Stanley, Merck, and Airbus. The uptick in U.S. commercial revenue reflects growing adoption of its data‑integration and analytics solutions across the private sector.

These results arrive amid heightened industry focus on AI sovereignty, a policy trend that urges governments and firms to keep data, models, and infrastructure under their control. Palantir’s emphasis on keeping customer data on‑premises or under the customer’s control aligns closely with that narrative.

Palantir’s earnings webcast, held at 5:00 PM ET on August 3, 2026, was available for live viewing and replay on the company’s investor relations website. The company also released a quarterly letter from CEO Alex Karp on its website.

In short, Palantir’s Q2 2026 results show record growth in both revenue and deal value, strong profitability, and a significant upward revision of its full‑year outlook. The company’s focus on AI sovereignty and its expanding commercial customer base appear to be the key drivers of its continued success.