Palantir Technologies Inc. (PLTR) Earnings Call Transcripts

Palantir Technologies Inc.'s Latest Earnings Call - Q2 FY2026

In Q2 2026, Palantir Technologies Inc. reported a remarkable 93% year-over-year revenue growth, reaching $1.935 billion, while adjusted free cash flow soared to $1.22 billion, representing a 63% margin. The U.S. business, which now constitutes over 81% of total revenue, experienced an extraordinary 115% growth year-over-year, with commercial revenue accelerating to 149%. Management raised full-year revenue guidance to between $8.15 billion and $8.158 billion, indicating an 82% growth year-over-year, which could positively impact stock performance as investor confidence strengthens.

Reported metrics

Guidance from management

For Q3 2026, management expects revenue between $2.16 billion and $2.164 billion. Full-year revenue guidance was raised to between $8.15 billion and $8.158 billion, indicating strong growth expectations.

What management said

Yes. I would say like that's -- our whole focus is converting tokens to value. The example Shyam gave -- that's happening across the board in the conversations with customers. That's why they're looking to expand to convert how they position themselves in the industry with us in their industry. And so we're seeing like extreme alignment. It's not about being beholden to one model. It's about bringing the right models...

Well, your support was crucial to getting us this far and crucial to getting us to where we're going to go, which is a much, much, much, larger company. This is one of the most exciting times to be involved in the Palantir mission. We are going to help transform especially this country, but allied countries, both in commercial and government. And the sovereign frame that is we're using as our organizational principle...

What analysts pressed on

Analysts expressed concerns about the sustainability of such high growth rates and the potential for increased competition in the AI space. There were questions regarding how Palantir plans to maintain its competitive edge as more enterprises recognize the importance of data sovereignty.

Main topics on the call

• U.S. Revenue Growth — Palantir's U.S. revenue grew by 115% year-over-year, driven by a 149% increase in U.S. commercial revenue. Management stated, "Our U.S. commercial business accelerated to 149% year-over-year and 28% sequentially."
• Record TCV Bookings — The company closed $2.132 billion in U.S. commercial TCV bookings, reflecting a 153% year-over-year increase. This was described as "nearly $800 million above our prior highest U.S. commercial bookings quarter."
• Adjusted Free Cash Flow — Palantir achieved an adjusted free cash flow of $1.22 billion, marking a 63% margin. This was highlighted as the "highest ever adjusted free cash flow" for the company.
• Increased Guidance — Management raised full-year revenue guidance to between $8.15 billion and $8.158 billion, representing an 82% year-over-year growth. This was noted as "our largest ever full year revenue guidance raise."

Read the full Palantir Technologies Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 27 Palantir Technologies Inc. earnings call transcripts on record, spanning November 12, 2020 to August 3, 2026. Based on this history, Palantir Technologies Inc. reports quarterly. The most recent call on file is dated August 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PLTR

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Software

Calls on record

27

First call

November 12, 2020

Most recent

August 3, 2026

Reporting cadence

quarterly