Palantir reports $687 million in U.S. government revenue for Q1 2026, up 84% year-over-year, and lifts full-year guidance to 71% growth.
Palantir Technologies (NASDAQ: PLTR) posted $687 million in U.S. government revenue for the first quarter of 2026, an 84% year-over-year increase. The company raised its full-year revenue guidance to 71% growth, targeting roughly $7.2 billion for fiscal 2026.
The quarter saw 206 deals worth at least $1 million, including 72 deals over $5 million and 47 over $10 million. Adjusted operating income reached $984 million at a 60% margin. Growth was driven by its Gotham, Foundry, and Artificial Intelligence Platform (AIP) products.
Management attributed the strong performance to expanding adoption of its AI infrastructure among governments and large enterprises, positioning Palantir as a potential long-term leader in enterprise AI solutions.