- Q2 revenue rose 93% year over year to $1.935 billion, with U.S. commercial revenue up 149% and U.S. government revenue up 90%.
- Palantir raised FY26 revenue guidance above $8.15 billion and reported roughly $1.22 billion of adjusted free cash flow at a 63% margin.
- The Army moved TITAN from prototype to production, awarding Palantir $127 million to lead production and integration of eight initial systems.
- The expanded PwC alliance targets enterprise AI deployment, AI-enabled M&A and ERP modernization, creating a broader commercial distribution channel.
- The core risk remains valuation: Palantir trades at demanding revenue multiples, with more than 80% of recent revenue coming from the U.S.