Palantir Technologies has announced a staggering 85% revenue growth for the first quarter of 2026. This is the company’s fastest expansion since it went public in 2020.
On May 4, Palantir reported first-quarter earnings of 33 cents adjusted per share, surpassing the expected 28 cents. Revenue reached $1.63 billion, exceeding analyst expectations of $1.54 billion.
Net income rose to $870.5 million, compared to $214 million a year earlier. This translates to an increase from 8 cents per share to 34 cents.
The company anticipates full-year revenue between $7.650 billion and $7.662 billion, which is above the FactSet estimate of $7.24 billion.
Key statistics:
- Commercial revenue from U.S. clients totaled $595 million, up 133% from last year.
- The number of commercial customers reached 1,007, a rise of 31%.
- Palantir expects adjusted free cash flow between $4.2 billion and $4.4 billion, surpassing the consensus estimate of $4.05 billion.
CEO Alex Karp stated, “Our financial results now demonstrate a level of strength that dwarfs the performance of essentially every software company in history at this scale.” He highlighted the importance of U.S. military operations and AI tools in driving this growth.
Karp emphasized, “The AI revolution is uniquely American,” indicating a competitive landscape among AI model companies.
This rapid growth reflects Palantir’s increasing reliance on government contracts and its expanding commercial customer base.