Palantir earnings: guidance and results
Palantir's next results are expected on November 2, 2026. The one thing to watch is whether revenue keeps pace as hiring and product spending increase.
What has Palantir guided for the year?
The hardest target is American commercial revenue, where sales must more than double. That requires customers to move beyond experimenting with artificial intelligence and pay for broader use in daily operations.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Revenue | Year to Dec 2026 | 8,150,000 | 8,158,000 | Aug 3, 2026 |
| U.S. commercial revenue | Year to Dec 2026 | 3,424,000 | 3,424,000 | Aug 3, 2026 |
| U.S. commercial revenue growth | Year to Dec 2026 | 134.0% | 134.0% | Aug 3, 2026 |
| Adjusted income from operations | Year to Dec 2026 | 4,889,000 | 4,897,000 | Aug 3, 2026 |
| Adjusted free cash flow | Year to Dec 2026 | 4,500,000 | 4,700,000 | Aug 3, 2026 |
Has Palantir kept its past promises?
Management’s promises also have a mixed record. Karp’s 2021 guidance called for annual revenue growth of at least 30% through 2025, but 2023 growth was 17%. A more specific promise held: management expected profitability in every quarter of 2023, and later results established that run under GAAP.
What do Palantir's last eight quarters show?
Revenue reached $1,935.464 million from $1,003.697 million a year earlier. Operating income reached $912.004 million, and operating margin was 47.1%. Operating income is the stronger first test because it measures the software business before investment income and taxes.
| Quarter to Jun 2026 | Quarter to Mar 2026 | Quarter to Dec 2025 | Quarter to Sep 2025 | Quarter to Jun 2025 | Quarter to Mar 2025 | Quarter to Dec 2024 | Quarter to Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,935,464 | 1,632,583 | 1,406,802 | 1,181,092 | 1,003,697 | 883,855 | 827,519 | 725,516 |
| Gross margin (calculated) | 84.7% | 86.8% | 84.6% | 82.4% | 80.8% | 80.4% | 78.9% | 79.8% |
| Operating income | 912,004 | 753,998 | 575,394 | 393,256 | 269,317 | 176,048 | 11,043 | 113,140 |
| Net income | 1,061,890 | 870,527 | 608,676 | 475,599 | 326,727 | 214,031 | 79,009 | 143,525 |
| EPS, diluted | 0.41 | 0.34 | 0.24 | 0.18 | 0.13 | 0.08 | 0.03 | 0.06 |
| Cash from operations | 1,216,167 | 899,165 | 777,295 | 507,664 | 539,251 | 310,263 | 460,327 | 419,772 |
What should I watch in Palantir's next results?
The next quarterly report is the clearest operating checkpoint. An estimated reporting date is November 2, 2026, but Palantir must confirm it. The report will show whether revenue is keeping pace as hiring and product spending increase.