Palantir lifts 2026 revenue outlook after 85% Q1 sales growth

Palantir Technologies Inc. reported first-quarter revenue of $1.633 billion, up 85% year over year, and raised its full-year 2026 revenue forecast on strong growth in its U.S. business.

The data analytics sosourcesware company said U.S. revenue rose 104% from a year earlier to $1.282 billion in the quarter ended March 31, 2026. U.S. commercial revenue increased 133% to $595 million.

Following the results, Palantir raised its 2026 revenue guidance to between $7.650 billion and $7.662 billion, which it said implies about 71% year-over-year growth. It also lisourcesed its full-year U.S. commercial revenue guidance to more than $3.224 billion, indicating growth of at least 120%.

Palantir reported GAAP net income of $871 million, a 53% margin, and GAAP earnings per share of $0.34.

The company said it closed 206 deals valued at $1 million or more during the quarter. Total contract value was $2.41 billion, up 61% from the prior year. Adjusted free cash flow was $925 million, representing a 57% margin.