Palantir beat earnings and revenue estimates last quarter as United States revenue soared, sending shares up 5.6% after-hours.
Revenue surged 70% year-over-year to US$1.41 billion, passing LSEG estimates of $1.33 billion. Earnings per share were $0.25, up from $0.14 and above estimates of $0.23.
“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,” said Palantir CEO Alex Karp.
“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.”
U.S. revenue was up 93% year-over-year to $1.08 billion, with U.S. commercial revenue rising 137%. U.S. government revenue also increased 66%.
Its income from operations was $798.47 million, growing from just $11 million the prior year.
It closed $4.26 billion in total contract value, up 138%, including 67% growth in the U.S. Total customer count was up 34%.
For 2026's first quarter, it projects revenue of $1.532-1.536 billion and income from operations of $870-874 million.
Last year, it signed a $10 billion software and data contract with the U.S. Army, and partnered with Nvidia to integrate its chip-powered data processing into Palantir’s artificial intelligence offerings.
Palantir also received a UK£240.6 million contract from the United Kingdom’s Ministry of Defence last week, which will see the company provide data analytics products for three years.
Palantir (NASDAQ: PLTR) shares closed 0.8% higher at US$147.78, and rose another 5.6% in after-hours trading. Its market capitalisation is $352.06 billion.
