Revenue Surged 93% as Palantir Raised Full-Year Guidance
American defense-tech company Palantir reported second-quarter results that exceeded analysts' forecasts. Consequently, the company raised its full-year guidance, and its stock climbed 12% following the announcement.
The American defense-tech company Palantir released its second-quarter results, which exceeded analysts' forecasts, and consequently raised its guidance for the full year. The stock climbed 12% following the announcement.
For the three months in question, revenue surged by 93%, from $1 billion last year to $1.94 billion, while net profit rose to $1.07 billion, or 41 cents per share, from $329 million, or 13 cents per share, in the same period last year.
"Forget the forecasts," said CEO Alex Karp in an interview with CNBC after the results were released. "To my knowledge, no business of our size has ever grown at even half this rate."
The company's primary activity is with the American government and military, and its revenue from government work rose by 90% to $809 million. At the same time, commercial revenue in the US surged by 149% to $764 million. Consequently, the company estimates that for the full year, commercial revenue in the US will stand at more than $3.42 billion, compared to a previous forecast of $3.22 billion. The company also raised its forecast for total revenue to a range of $8.15-$8.16 billion, while the previous forecast stood at $7.65-$7.66 billion.
"It looks like the strong growth will continue for at least another 18 months," said Karp. According to him, the company is benefiting from corporate efforts to keep data secure and avoid transferring everything to AI companies for security reasons. However, given the company's strong ties with the Donald Trump administration, other governments are cutting ties with it, and revenue from foreign customers represented 19% of revenue in the quarter, a decrease from 26% in 2025.
Karp is known as a staunch supporter of Israel, as well as one of the most prominent voices in favor of open-weight AI models and reducing dependence on tokens offered by AI companies. In a call with analysts after the results were published, he reiterated his criticism of AI companies, which he claims dictate how technology is used based on moral considerations alone:
"The way you win in the US is by competing, and our open models will have to become as good as the open models from China."
