Palantir Technologies posted Q1 2026 revenue of $1.63 billion, up 85% year over year, and raised its full-year guidance to as much as $7.66 billion.
Q1 Revenue Breakout
The data analytics firm reported the figures after Monday's close, marking its fastest top-line growth since the company went public through a direct listing in 2020.
US revenue doubled to $1.282 billion, a 104% jump. US commercial sales rose 133% to $595M, while government work climbed 84% to $687M.
GAAP net income reached $871M, a 53% margin. The firm closed 206 deals worth $1M or more, and total contract value hit $2.41B, up 61%.
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Karp Lifts Outlook
Chief Executive Alex Karp placed Palantir alongside semiconductor leaders, naming Nvidia, Micron and SK Hynix as peers in the AI buildout. The company's Rule of 40 score reached 145%.
Management lifted FY 2026 revenue guidance to a range of $7.65B to $7.66B, implying 71% growth, ten points above its prior outlook. US commercial guidance moved above $3.224B, while adjusted free cash flow projections climbed to between $4.2B and $4.4B.
The reaction stayed mixed. Shares slipped about 2.5% in after-hours trading as investors weighed the print against valuation concerns.
PLTR has lost roughly 18% in 2026 and sits more than 30% below its November 2025 peak of $207.18. The stock has cleared the EPS consensus for ten straight quarters, yet last quarter's beat was met with an 11.6% next-day decline, a pattern that continues to shape post-earnings trading.
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