Palantir Reports Revenue Growth of 70% Y/Y; Issues FY 2026 Revenue Guidance of 61% Y/Y

“Palantir’s Rule of 40 score is now an incredible 127%. Last quarter, our U.S. revenue grew 93% year-over-year and U.S. commercial revenue grew 137% year-over-year. We are also announcing a 2026 revenue growth guide of 61% year-over-year. We are an n of 1, and these numbers prove it. Palantir is alone in choosing to exclusively focus on scaling the operational leverage made possible by the rapid advancements of AI models, a trend that we first called ‘commodity cognition’ well before others started repeating it,” said Alex C. Karp, Co-Founder and Chief Executive Officer of Palantir Technologies.

Q4 2025 Highlights

* U.S. revenue grew 93% year-over-year and 22% quarter-over-quarter to $1.076 billion
* U.S. commercial revenue grew 137% year-over-year and 28% quarter-over-quarter to $507 million
* U.S. government revenue grew 66% year-over-year and 17% quarter-over-quarter to $570 million
* Revenue grew 70% year-over-year and 19% quarter-over-quarter to $1.407 billion
* Closed 180 deals of at least $1 million, 84 deals of at least $5 million, and 61 deals of at least $10 million
* Closed a record-setting $4.262 billion of total contract value (“TCV”), up 138% year-over-year
* Closed a record-setting $1.344 billion of U.S. commercial TCV, up 67% year-over-year
* U.S. commercial remaining deal value (“RDV”) of $4.38 billion, up 145% year-over-year and 21% quarter-over-quarter
* Customer count grew 34% year-over-year and 5% quarter-over-quarter
* GAAP income from operations of $575 million, representing a 41% margin
* Adjusted income from operations of $798 million, representing a 57% margin
* Rule of 40 score of 127%
* GAAP net income of $609 million, representing a 43% margin
* Cash from operations of $777 million, representing a 55% margin
* Adjusted free cash flow of $791 million, representing a 56% margin
* GAAP earnings per share (“EPS”) of $0.24
* Adjusted EPS of $0.25
* Cash, cash equivalents, and short-term U.S. Treasury securities of $7.2 billion

FY 2025 Highlights

* U.S. revenue grew 75% year-over-year to $3.320 billion
* U.S. commercial revenue grew 109% year-over-year to $1.465 billion
* U.S. government revenue grew 55% year-over-year to $1.855 billion
* Revenue grew 56% year-over-year to $4.475 billion
* Cash from operations of $2.134 billion, representing a 48% margin
* Adjusted free cash flow of $2.270 billion, representing a 51% margin
* GAAP net income of $1.625 billion, representing a 36% margin
* GAAP income from operations of $1.414 billion, representing a 32% margin
* Adjusted income from operations of $2.254 billion, representing a 50% margin