Palantir reported Q2 revenue of $1.935 billion, a 93% year-over-year increase, comfortably beating analyst expectations of $1.801 billion. Shares popped roughly 13% in after-hours trading. GAAP net income landed at $1.062 billion, or $0.41 per share, with a 55% net income margin. The US commercial business surged 149% year-over-year to $764 million, driven by 220 contracts worth $1 million or more each. The company raised its full-year 2026 revenue guidance to $8.150-$8.158 billion, representing roughly 82% growth. Palantir ended the quarter with $9.2 billion in cash and continues to expand its Foundry for Crypto product for cryptocurrency firms.
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