Palantir Technologies Inc. engineers and deploys advanced software platforms primarily for the intelligence community, supporting counterterrorism investigations and operations across the United ...
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Est. EPS $1.59 · Revenue $8.17B · 20 analysts
Est. EPS $2.28 · Revenue $12.22B · 20 analysts
Est. EPS $0.97 · Revenue $4.99B · 8 analysts
Est. EPS $1.07 · Revenue $5.52B · 13 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $4.5B | +56.2% | +18.6% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $1.6B | +251.6% | +22.0% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +82.4% | +2.6% | -2.4% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +31.6% | +191.7% | +2.0% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +36.3% | +125.1% | +2.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $2.1B | +84.1% | +34.7% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +46.9% | +17.9% | +13.7% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 3.1% | -35.1% | -13.8% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 7.11x | +19.3% | +4.7% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $8.9B | +40.4% | +14.5% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.63 vs 0.72 | -11.9% | 0.41 vs 0.97 | -57.7% |
| Revenue Surprise | $4.5B vs $4.4B | +2.4% | $1.9B vs $5.0B | -61.2% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Buckley Jeffrey | officer: See Remarks | Class A Common Stock | D | 1,250 | $174.29 |
| Aug 20, 2026 | Buckley Jeffrey | officer: See Remarks | Class A Common Stock | D | 58 | $172.65 |
| Aug 20, 2026 | Buckley Jeffrey | officer: See Remarks | Class A Common Stock | D | 100 | $173.79 |
| Aug 20, 2026 | Buckley Jeffrey | officer: See Remarks | Class A Common Stock | D | 1,565 | $174.85 |
| Aug 20, 2026 | Buckley Jeffrey | officer: See Remarks | Class A Common Stock | D | 325 | $175.42 |
Ana Soro: Good afternoon. I'm Ana Soro from Palantir's finance team, and I'd like to welcome you to our second quarter 2026 earnings call. We'll be discussing the results announced in our press release issued after the market closed and posted on our Investor Relations website. During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our third quarter and fiscal 2026 results, management's expectations for our future financial and operational performance and other statements regarding our plans, prospects and expectations. These statements are not promises or guarantees and are subject to risks and uncertainties, which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed after the market closed today and in our SEC filings. We undertake no obligation to update forward-looking statements, except as required by law. Further, during the course of today's call, we will refer to certain adjusted financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from GAAP measures. Additional information about these non-GAAP measures, including reconciliation of non-GAAP to comparable GAAP measures, is included in our press release and investor presentation provided today. Our press release, investor presentation and other earnings materials are available on our Investor Relations website at investors.palantir.com. Over the course of the call, we will refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated. Joining me on today's call are Alex Karp, Chief Executive Officer; Shyam Sankar, Chief Technology Officer; Dave Glazer, Chief Financial Officer; and Ryan Taylor, Chief Revenue Officer and Chief Legal Officer. I'll now turn it over to Ryan to start the call. Ryan Taylor: Our Q2 results are unprecedented, but entirely unsurprising as the abrupt market shift in LLMs that we've been warning you about for years is now here. We delivered 93% year-over-year revenue growth, our highest ever. The story of this quarter is, once again, our U.S. business. It now comprises over 81% of total revenue and grew 115% year-over-year and 23% sequentially. Our U.S. commercial revenue growth accelerated to 149% year-over-year and 28% sequentially. And our U.S. government revenue grew a remarkable 90% year-over-year and 18% sequentially. These top line results are accompanied by a Rule of 40 score of 155% and $1.22 billion of adjusted free cash flow. We closed 220 deals worth $1 million or more, of which 98 deals were worth $5 million or more and 73 deals were worth $10 million or more, record highs across the board. These results are a clear indication of the profound value we've unlocked both for and with our customers who dared …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Alexander C. Karp | Co-Founder, Chief Executive Officer & Director | USD 8,623,000 | — | 1967 | Active |
Shyam Sankar | Chief Technology Officer & Executive Vice President | USD 1,209,250 | Male | 1983 | Active |
Stephen Andrew Cohen | Co-Founder, President, Secretary & Director | USD 1,003,995 | Male | 1984 | Active |
David A. Glazer | Chief Financial Officer & Treasurer | USD 486,735 | Male | 1985 | Active |
Ryan D. Taylor | Chief Revenue Officer & Chief Legal Officer | USD 479,460 | Male | 1983 | Active |
Kevin Kawasaki | Head of Business Development | — | — | — | Active |
David MacNaughton | President of Palantir Canada | — | Male | 1950 | Active |
Jeffrey Buckley | Chief Accounting Officer | — | Male | 1984 | Active |
Joseph Lonsdale | Co-Founder | — | Male | 1983 | Active |
Peter Andreas Thiel | Co-Founder & Chairman | — | Male | 1967 | Active |
Palantir specializes in artificial intelligence to assist organizations in decision-making. Tesla is ramping up its robotaxi fleet and developing humanoid robots.
Palantir delivered 93% revenue growth while U.S. commercial revenue surged 149%, demonstrating exceptional monetization beyond customer acquisition. Net dollar retention reached 157% as U.S. commercial TCV jumped 153%, signaling deeper and longer customer commitments. Adjusted operating margin reached 62%, and free cash flow margin hit 63%, despite adjusted expenses increasing 37% year-over-year.
Palantir Technologies Inc.'s Q2 earnings beat and raise reinforces accelerating AI monetization and deeper wallet share expansion across its government and commercial installed base. Model commoditization is becoming PLTR's AI advantage. Rising multi-model adoption is expected to drive incremental enterprise demand for AIP to manage agentic workload deployments within a unified and secured environment. The emerging opportunity is complemented by Palantir's high margin, low capex model, reinforcing the outsized FCF flywheel without the rising capital intensity experienced by comparable peers.
Palantir experienced a significant 40% decline since my bearish call last September, but has now found strong support. I see recent price action and Q2 earnings as the beginning of a new upcycle for Palantir, signaling a potential reversal in sentiment. The company is seeing huge growth on limited costs, and is adding cash to its balance sheet, while short sellers took a hit.
Palantir Technologies TodayPLTRPalantir Technologies$173.18 +0.63 (+0.37%) As of 10:20 AM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$106.37▼$207.52P/E Ratio147.78Price Target$192.19Add to WatchlistMichael Burry is at it again.
