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Palantir Tops $1 Billion in Quarterly Revenue and Lifts Full-Year Outlook

Driven by its AI platform, Palantir achieved 48 percent revenue growth, projecting $4.14–$4.15 billion in 2025 sales.

Image
FILE - In this Wednesday, May 15, 2019, file photo, Palantir CEO Alex Karp arrives for the Tech for Good summit in Paris. (AP Photo/Thibault Camus, File)
The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann/File Photo

Overview

  • Palantir posted $1.004 billion in revenue for Q2, marking its first quarterly total above $1 billion and a 48 percent year-over-year increase.
  • U.S. commercial sales jumped 93 percent to $306 million, while government revenue grew 53 percent to $426 million in the quarter.
  • The company closed 157 contracts worth more than $1 million, including 42 deals over $10 million, and exited Q2 with approximately $6 billion in cash and short-term securities.
  • Management raised the full-year revenue guidance to $4.14–$4.15 billion for 2025, up from its prior outlook of $3.89–$3.90 billion.
  • Palantir’s stock surged to all-time highs in premarket and after-hours trading as investors welcomed the AI-driven performance and a potential $10 billion U.S. Army engagement.