The data analytics firm reported $1.9 billion in Q2 revenue, driven by 149% U.S. commercial growth and raised guidance.
Palantir Technologies posted a 93% year-over-year increase in second-quarter revenue, reaching $1.9 billion, as demand for its AI-driven solutions accelerated. U.S. commercial revenue jumped 149% to $764 million, outpacing government revenue growth of 90% to $809 million, signaling broadening enterprise adoption.
The company closed 220 deals worth at least $1 million, including 73 deals of $10 million or more, with total contract value rising 49% to $3.4 billion. A Rule of 40 score of 155% underscored strong profitability alongside growth, while raised guidance for revenue, operating income, and free cash flow reflected management confidence.
CEO Alex Karp highlighted “otherworldly” demand for sovereign AI, positioning Palantir as a leader in secure, customer-data-protected AI infrastructure. The results may prompt analysts to reassess price targets amid bullish sentiment.