Palantir reports record Q2 2026 revenue and net income

Palantir Technologies reported record second-quarter 2026 results, achieving revenue of $1.935 billion and a GAAP net income of approximately $1.062 billion. This represents a 55% net margin.

CEO Alex Karp attributed the company’s rapid growth to a non-traditional approach to sales infrastructure. He noted that the US commercial business grew 28% quarter-on-quarter and 149% year-on-year, reaching $764 million. Karp highlighted that these results were achieved with a minuscule and shrinking sales headcount, comparing the efficiency to a company that would typically require 7,000 salespeople to reach similar milestones.

US government revenue reached $809 million in the second quarter, up 90% year-on-year. Total US revenue rose to $1.6 billion, a 115% increase, while global quarterly revenue grew 93% year-on-year. The company’s adjusted earnings per share of 41 cents exceeded the consensus estimate of 35 cents.