Palantir posted $1.935 billion in Q2 revenue, a 93% jump, and raised its full-year guidance. The US commercial business surged 149%, and shares rose 13% after hours.
Palantir Technologies reported Q2 revenue of $1.935 billion, a 93% increase from a year earlier, beating the analyst consensus of $1.801 billion. Shares rose roughly 13% in after-hours trading Monday.
Net income came in at $1.062 billion, or $0.41 per share, compared with the $0.35 consensus estimate. The net income margin was 55%.
The US commercial division drove the quarter. Revenue from that segment hit $764 million, up 149% year-over-year, the company said in its earnings release. Chief Executive Alex Karp cited strong demand for AI-integrated products across corporate customers.
Palantir closed 220 contracts worth $1 million or more during the quarter. Of those, 98 exceeded $5 million and 73 surpassed $10 million. Total contract value rose 49% to $3.373 billion.
The company raised its full-year 2026 revenue guidance to a range of $8.150 billion to $8.158 billion, implying roughly 82% growth at the midpoint. The US commercial revenue target alone was increased to above $3.424 billion, which would be 134% year-over-year growth if achieved.
Karp highlighted the Rule of 40 score of 155%. The Rule of 40 is a software industry benchmark where a company's revenue growth rate plus profit margin should exceed 40%. Palantir nearly quadrupled that threshold.
Palantir ended the quarter with $9.2 billion in cash, cash equivalents, and short-term US Treasury investments. Adjusted free cash flow margin was 63%.
The company maintains a product called Foundry for Crypto, which provides analytics tools for cryptocurrency firms. The Q2 earnings call did not announce any new major crypto-native integrations.
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