Palantir Technologies Inc.

Q2 FY26Software

Palantir Technologies Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹143

Market cap₹3.4L Cr

P/E153.5

Updated29 May 2026

Read4 min read

What the Q2 FY26 call signalled

3 of 3 strong

RevenueRank 1

MarginRank 1

Order bookYes

Not discussed on this call: capex, fundraise.

The short version

- Palantir expects full year 2026 revenue between $7.650 billion and $7.662 billion, up from previous guidance, representing approximately 71% growth year-over-year. - U.S. - Q2 2026 revenue guidance: $1.797 billion to $1.801 billion - Q2 2026 adjusted operating income guidance: $1.063 billion to $1.067 billion - Full year 2026 revenue guidance raised to $7.650 billion to $7.662 billion - U.S.

From Palantir Technologies Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Rank 1

Palantir expects full year 2026 revenue between $7.650 billion and $7.662 billion, up from previous guidance, representing approximately 71% growth year-over-year.
U.S. commercial revenue guidance raised to exceed $3.224 billion, indicating at least 120% growth.
Q2 2026 revenue forecasted between $1.797 billion and $1.801 billion.
Adjusted income from operations expected between $4.440 billion and $4.452 billion for 2026.
Adjusted free cash flow projected between $4.2 billion and $4.4 billion for the full year.
Customer count grew 31% year-over-year, with demand especially strong in the U.S. leading to inability to meet all demand.
Total remaining deal value increased 98% year-over-year to $11.8 billion, showing accelerating bookings and future revenue.
Net dollar retention of 150%, reflecting strong expandability within current customers.
Company plans to sustain investments in AI platform and talent while aiming for sustained GAAP profitability.

Profitability & Margins

Q2 2026 revenue guidance: $1.797 billion to $1.801 billion
Q2 2026 adjusted operating income guidance: $1.063 billion to $1.067 billion
Full year 2026 revenue guidance raised to $7.650 billion to $7.662 billion
U.S. commercial revenue expected to exceed $3.224 billion with at least 120% growth
Full year 2026 adjusted income from operations raised to $4.440 billion to $4.452 billion
Adjusted free cash flow guidance raised to $4.2 billion to $4.4 billion
GAAP operating income and net income expected each quarter in 2026
Rule of 40 score expected to remain high; recently at 145% for Q1 2026
CEO emphasizes capacity limits: aiming for 100% U.S. growth this year and possibly next, but constrained by current limits

See what Palantir Technologies Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The provided transcript from the earnings call does not explicitly mention current or future capital expenditures (capex), capital investments, or strategic investments. The discussion primarily focuses on: - Revenue growth, AI platform deployment, and product development (e.g., Foundry, Apollo, AIP). - Talent acquisition, particularly neurodivergent individuals. - Growth in U.S. commercial and government sectors. - Increasing demand for AI-driven solutions and software platforms. - The focus on transforming industries and defense capabilities. No direct details or figures regarding capital investment or strategic investment plans are disclosed within these pages.

Fundraising & Capital Structure

The transcript from the provided pages of the Palantir earnings call does not mention any current or future plans for fundraising through debt or equity. Key financial highlights include: - Strong cash flow generation: $899 million cash from operations and $925 million adjusted free cash flow in Q1. - Ended quarter with $8 billion in cash, cash equivalents, and short-term U.S. treasury securities. - Raised full-year 2026 revenue and income guidance, highlighting strong financial performance. - No statements or guidance on issuing new debt or equity financing were disclosed in the Q&A or prepared remarks. Therefore, based on the available information, Palantir does not indicate any plans for new fundraising through debt or equity at this time.

See what Palantir Technologies Inc. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Total remaining deal value at the end of Q1 is $11.8 billion, up 98% year-over-year and 6% sequentially.
Remaining performance obligations (RPO) amount to $4.5 billion, growing 134% year-over-year and 9% sequentially.
Q1 U.S. commercial TCV bookings were $1.3 billion, a 42% increase year-over-year.
Over the past 12 months, U.S. commercial TCV bookings totaled $4.7 billion, a 115% increase from the prior 12 months.
Q1 government TCV bookings reached $2.4 billion, up 61% year-over-year with 135% growth on a dollar-weighted duration basis.
The company experienced net dollar retention of 150%, up 1100 basis points from last quarter, driven by expansions and new customers.

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Frequently Asked Questions

What were Palantir Technologies Inc. Q2 FY26 results?

What is Palantir Technologies Inc. share price analysis?

Palantir Technologies Inc. currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 153.5 with a market cap of $343,631. Investors should review the full earnings analysis for detailed insights.

Is Palantir Technologies Inc. planning capital expenditure?

The provided transcript from the earnings call does not explicitly mention current or future capital expenditures (capex), capital investments, or strategic investments.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.