Palantir reported fourth-quarter revenue of $1.41 billion, representing 70% year-over-year growth and topping consensus estimates by approximately $80 million. Adjusted earnings per share of $0.25 exceeded the $0.23 forecast, driven by both commercial and government demand. U.S. commercial revenue soared 137% year-over-year, while U.S. government revenue grew 66%, underscoring the company’s expanding footprint across mission-critical analytics applications.

At the end of Q4, Palantir’s contract backlog stood at $4.21 billion, up 143% from a year ago, and billings increased by 91%. Net revenue retention reached 139%, reflecting strong upsell activity within existing accounts. Management highlighted that high engagement levels in the U.S. market have led to deliberate pacing of product rollouts to allied nations, emphasizing strategic prioritization of key domestic contracts.

For Q1 fiscal 2026, Palantir projects revenue between $1.532 billion and $1.536 billion, well above street estimates, and full-year guidance targets $7.182 billion to $7.198 billion, implying roughly 60% annual growth. The company reinforced its position in national security workflows through a potential software deal worth up to $10 billion with the U.S. Army and a $448 million agreement with the Navy to accelerate shipbuilding analytics, positioning Palantir for sustained momentum as AI adoption intensifies across defense and commercial sectors.