Palantir Technologies Inc. (Palantir) has announced its financial results for Quarter 2 ended June 30, 2026, reporting a revenue of $1.9 billion, compared with $1.0 billion during the same period last year. Net income stood at $1.1 billion while Earnings Per Share (EPS) came in at $0.41.
Quarter 2, 2026 Financial Overview
| 3 Months to June 30,2026 | 3 Months to June 30, 2025 | % Change | |
| Revenue | $1,935,464,000 | $1,003,697,000 | 92.8% |
| Operating Income | $912,004,000 | $269,317,000 | 238.6% |
| Income Before Taxes | $1,081,345,000 | $332,168,000 | 225.5% |
| Net Income | $1,061,890,000 | $326,727,000 | 225.0% |
| EPS | $0.41 | $0.13 | 215.4% |
Expanding revenue
The total revenue grew by 92.8% year-on-year to $1.9 billion. The US market is the major driver of revenue growth. The revenue from the US jumped 114.9% to close at $1.6 billion at the end of quarter 2, 2026 while other markets outside the US posted a revenue of $362 million, representing a 33.1% year-on-year increase. The US generated 81.3% of the total revenue made in the 2nd quarter of 2026 compared to the corresponding period of the previous year when it produced 72.9% of total revenue.
Profitability
Profit margins have improved owing to cost savings as the company’s revenue rose faster than its costs. The gross profit doubled to $1.6 billion in just one year. Operating income, income before tax and net income rose by 238.6%, 225.5% and 225% respectively. The company’s operating income margin, as a result, moved to 47.1% in the second quarter of 2026 from 26.8% in quarter 2 of the previous year. Income before tax margin and net income margin increased to 55.9% and 54.9% respectively.
Strong cash position and balance sheet
Palantir generated $2.12 billion in operating cash flow and $2.09 billion in free cash flow in the first half of 2026. Its balance sheet remained strong with total debt accounting for 2.1% of total equity and 1.8% of total assets as at June 30 2026. The company is cash rich with cash and cash equivalents at the end of June 2026 standing at $2 billion.
Management forecast
| Full Year 2026 | |
| Revenue | $8.150 – $8.158 billion |
| U.S. commercial revenue | Greater than $3.424 billion |
| Adjusted income from operations | $4.5 – $4.7 billion |
The company raised its outlook for the year, reflecting stronger expectations regarding market conditions. It raised its revenue guidance for 2026 full year to between $8.150 and $8.158 billion, representing 82% year-on-year increase. U.S. commercial revenue is expected to exceed $3.424 billion, delivering at least 134% year-on-year growth. Adjusted income from operations is estimated between $4.5 billion and $4.7 billion at the end of the 2026 fiscal year.
ABOUT PALANTIR TECHNOLOGIES INC.
PALANTIR is a software company that assists its customers to make better decisions by providing platforms for analysis of real-world data.
