Palantir Technologies Inc. (PLTR) Earnings
Palantir Technologies Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.35. PLTR has beaten EPS estimates in 8 of its last 9 reported quarters (average surprise +17.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $0.28 | $0.33 | +19.0% | $1.6B | +5.9% |
| Feb 2, 2026 | $0.23 | $0.25 | +8.6% | $1.4B | +4.9% |
| Feb 3, 2025 | $0.11 | $0.14 | +27.3% | $828M | -4.8% |
| Nov 2, 2023 | $0.06 | $0.07 | +16.7% | $558M | +0.5% |
| Feb 13, 2023 | $0.03 | $0.04 | +50.3% | $509M | +1.2% |
| Feb 17, 2022 | $0.04 | $0.02 | -44.1% | $433M | +3.6% |
| Aug 12, 2021 | $0.04 | $0.04 | +13.0% | $376M | +6.6% |
| Feb 16, 2021 | $0.02 | $0.07 | +190.3% | $322M | +0.0% |
| Nov 12, 2020 | $0.02 | $0.09 | +359.2% | $289M | -55.6% |
| Sep 30, 2020 | — | $-0.12 | — | $252M | — |
| Mar 30, 2019 | — | $-0.25 | — | $161M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 4, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Ryan Taylor noted 85% year-over-year revenue growth, 16% sequential growth, U.S. business now 79% of total revenue with over 100% year-over-year growth, Rule of 40 score climbed to 145. Highlighted work with companies like Motor, Freedom Mortgage, GE Aerospace, Ondas, World View, and the Department of War. - Shyam Sankar discussed how AIP workflows utilize more tokens, Jevons' paradox, and the need for a no-slop zone. Talked about work in U.S. government including Maven, Ship OS, and Apollo. - David A. Glazer highlighted outstanding first quarter results, raised full-year 2026 revenue guidance midpoint to $7.656 billion, adjusted gross margin 88%, adjusted income from operations $984 million with 60% operating margin. - Alexander C. Karp emphasized the company's unique position, growth in U.S. and commercial segments, and the importance of product and execution.
Guidance
- For Q2 2026, expect revenue of between $1.797 billion and $1.801 billion and adjusted income from operations of between $1.063 billion and $1.067 billion. - For full year 2026, raise revenue guidance to between $7.65 billion and $7.662 billion, U.S. Commercial revenue guidance to in excess of $3.224 billion (at least 120% growth), Adjusted Income from Operations guidance to between $4.44 billion and $4.452 billion, adjusted free cash flow guidance to between $4.2 billion and $4.4 billion, and continue to expect GAAP operating income and net income in each quarter of this year.
Segment performance
In the first quarter, total revenue grew 85% year-over-year and 16% sequentially to $1.633 billion. U.S. business was 79% of total revenue, growing 104% year-over-year and 19% sequentially. Commercial segment: First quarter commercial revenue grew 95% year-over-year and 14% sequentially to $774 million. U.S. commercial revenue grew 133% year-over-year and 18% sequentially to $595 million. Government segment: First quarter Government revenue grew 76% year-over-year and 18% sequentially to $858 million. U.S. Government revenue grew 84% year-over-year and 21% sequentially to $687 million.
Analyst Q&A
Q: How does Palantir Technologies Inc. expect to navigate an environment where AI is pressuring software companies' capabilities?
A: Shyam Sankar said it's a tailwind, counter-positioned against legacy thin software and AI slop, focused on enterprise autonomy and ontology. Alexander C. Karp added almost every example of AI producing results in U.S. is by Palantir. -
Q: How to balance between going after government deals and commercial deals?
A: Alexander C. Karp said prioritize U.S. warfighters over everything else, highly monogamous, and Ryan Taylor mentioned driving by customers understanding load-bearing context. -
Q: About AI labs getting into enterprise, talent, and defense growth in election year?
A: Alexander C. Karp talked about talent being a battle, Shyam Sankar discussed defense work and AI lab challenges, and Alexander C. Karp added on defense and AI lab enterprise.