Palantir Q1 Revenue Soars 85% to $1.63B, Raises FY26 Guide to $7.66B
PLTR•Palantir reported Q1 revenue of $1.633 billion, up 85% year over year, and GAAP net income of $871 million, driven by 133% US commercial growth to $595 million. Management raised full-year 2026 revenue guidance to $7.650–7.662 billion, implying 71% growth and free cash flow of $4.2–4.4 billion.
1. Q1 Revenue and Net Income
Palantir reported Q1 revenue of $1.633 billion, up 85% year over year, with GAAP net income of $871 million. US revenue doubled to $1.282 billion, supported by 133% growth in US commercial to $595 million and 84% growth in the government segment to $687 million.
2. Contract Value and Profitability Metrics
Total contract value reached $2.41 billion, a 61% increase year over year, and the company closed 206 deals valued at $1 million or more. The Rule of 40 score climbed to 145%, reflecting a strong balance of growth and profitability in AI applications.
3. Upwardly Revised FY26 Outlook
Management raised full-year 2026 revenue guidance to between $7.650 and $7.662 billion, up 10 percentage points to imply 71% growth. Adjusted operating income is forecast at $4.440–4.452 billion and free cash flow at $4.2–4.4 billion, with GAAP operating income and net income expected in every quarter.
