Palantir reported $1.94 billion in second-quarter 2026 revenue, up 93% year over year, while U.S. commercial revenue reached $764 million, up 149%. The company raised full-year revenue guidance to $8.150 billion-$8.158 billion, signaling that its fastest expansion and strongest enterprise AI spending remain concentrated in the U.S. market.
Palantir reported $1.94 billion in revenue for the second quarter of 2026, up 93% from a year earlier, as its U.S. commercial business more than doubled. The August 3 results cover the quarter ended June 30 and pair rapid top-line growth with higher full-year guidance.
The quarter in numbers
Palantir's business update reported $764 million in U.S. commercial revenue, an increase of 149% year over year and 28% from the prior quarter. U.S. government revenue rose 90% year over year to $809 million, bringing total U.S. revenue to $1.57 billion.
CNBC, comparing the release with LSEG estimates, reported adjusted earnings of 41 cents per share versus 35 cents expected and revenue of $1.94 billion versus $1.80 billion expected. The company also reported $1.07 billion in quarterly net income, compared with about $329 million a year earlier.
Palantir calculated a 155% Rule of 40 score by combining its 93% revenue growth rate with a 62% adjusted operating margin. That is a company-defined non-GAAP comparison; Palantir notes that other companies may calculate the measure differently.
Guidance moves higher
Management now expects full-year 2026 revenue of $8.150 billion to $8.158 billion. It also forecasts U.S. commercial revenue above $3.424 billion, representing growth of at least 134%. For the third quarter, the company guided to revenue of $2.160 billion to $2.164 billion.
Those figures are forecasts, not completed results. They nevertheless show that Palantir expects the U.S. commercial segment to remain its fastest-growing major business through the rest of 2026.
What the results show
For data and AI leaders, the most useful signal is the pace at which commercial spending is converting into reported software revenue. Palantir's results point to strong demand for operational data and AI platforms, but aggregate earnings do not show which individual deployments created that growth or whether customers achieved comparable outcomes. The next test is whether the company can sustain the expansion while broadening it beyond its unusually strong U.S. base.
Key Points #
- 1Second-quarter revenue rose 93% year over year to $1.94 billion.
- 2U.S. commercial revenue increased 149% to $764 million, while U.S. government revenue rose 90% to $809 million.
- 3Palantir raised full-year 2026 revenue guidance to $8.150 billion-$8.158 billion and expects U.S. commercial revenue above $3.424 billion.
Scoring Rationale #
A current earnings release from a major AI software company shows unusually rapid U.S. commercial growth and materially higher full-year guidance, offering a measurable signal of enterprise AI spending.
Sources #
Primary source and supporting public references used for this report.
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