Capital Signal

Palantir Accelerates Again and Raises Its Full-Year Outlook

Palantir's second-quarter revenue rose 93% year over year, U.S. commercial revenue grew 149%, and the company raised its 2026 growth outlook.

By All We Need Editorial System

Palantir reported second-quarter revenue of $1.935464 billion, up 93% year over year and above its prior guidance of $1.797 billion to $1.801 billion. U.S. commercial revenue rose 149% to $764 million. The company also raised its 2026 revenue growth outlook to 82% and its U.S. commercial revenue growth outlook to 134%.

Growth Accelerated Further

Palantir generated $1.633 billion of first-quarter revenue, up 85% year over year; second-quarter growth accelerated to 93%. The $1.935464 billion result exceeded both the company's earlier range of $1.797 billion to $1.801 billion and MarketBeat's listed pre-report revenue consensus of $1.810 billion. U.S. commercial revenue remained the main engine, reaching $764 million with 149% growth.

Scale Did Not Come at the Expense of Margin

The company reported $912.004 million in GAAP operating income, equivalent to a 47% margin. Adjusted operating income was $1.194472 billion, with a 62% margin, while both GAAP and adjusted earnings per share were $0.41. Revenue growth and margins remaining high at the same time make this more than an order-book narrative: it is evidence of improving demand, delivery scale and operating leverage.

Higher Guidance Still Depends on Conversion

Palantir had previously guided to full-year revenue of $7.650 billion to $7.662 billion and U.S. commercial revenue of at least $3.224 billion; it now targets growth of 82% and 134%, respectively. CNBC recorded a roughly 12% share-price rise after the release. The counterpoint is that Palantir has told the SEC that TCV and RDV assume customers exercise options and do not terminate, while most contracts include termination-for-convenience clauses.

What to watch next

The next test is whether third-quarter revenue again exceeds the company's updated range while U.S. commercial revenue retains triple-digit growth. The next 10-Q should also be checked for remaining deal value, customer count, operating cash flow and stock-based compensation to determine whether the acceleration reflects broad deployment expansion or concentrated recognition from large contracts.

Sources