Palantir Technologies reports 93% revenue growth in its latest quarter, driven by demand for secure AI platforms.
Palantir Technologies (NASDAQ: PLTR) shares have declined 0.5% year-to-date, trailing the Nasdaq Composite’s 14.4% gain. The underperformance stems from the stock’s high valuation rather than weakening demand, as the company’s AI platform continues to expand rapidly.
Revenue growth has accelerated each quarter since mid-2023, with the latest period showing 93% year-over-year growth. U.S. commercial revenue surged 149%, while government revenue rose 90%, reflecting strong adoption of Palantir’s security-focused AI tools among enterprises and agencies.
The company attributes its momentum to its edge in data security, a critical factor as businesses prioritize control over sensitive information. CEO Alex Karp emphasized that customer data remains protected from being used as training data for competing models.