OpenNashEarnings

Software · Nasdaq: PLTR

Palantir earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 1 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Palantir's Q3 2026 revenue grew 96% year-over-year to $2.313 billion, with U.S. commercial revenue up 148% to $984 million and GAAP net income of $1.128 billion.

Palantir's third-quarter revenue grew 96% from a year ago to $2.313 billion, its first quarter above $2 billion. U.S. commercial revenue grew 148% to $984 million and passed U.S. government revenue for the first time. GAAP income from operations was $1.085 billion, a 47% margin, and GAAP net income was $1.128 billion. Cash from operations was $1.205 billion, and the company ended the quarter with $10.4 billion in cash, cash equivalents and U.S. Treasury securities.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗

Quarters

KPI history

Revenue$2.3B+95.9% y/yQ3 2026
Q4 2024: $827.5M (worked out from the annual figure)Q4 ’24$827.5MQ1 2025: $883.9MQ1 ’25$883.9MQ2 2025: $1.0BQ2 ’25$1.0BQ3 2025: $1.2BQ3 ’25$1.2BQ4 2025: $1.4B (worked out from the annual figure)Q4 ’25$1.4BQ1 2026: $1.6BQ1 ’26$1.6BQ2 2026: $1.9BQ2 ’26$1.9BQ3 2026: $2.3BQ3 ’26$2.3B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$827.5M *
Q1 2025$883.9M
Q2 2025$1.0B
Q3 2025$1.2B
Q4 2025$1.4B *
Q1 2026$1.6B
Q2 2026$1.9B
Q3 2026$2.3B
Diluted EPS (GAAP)$0.44+144.4% y/yQ3 2026
Q1 2025: $0.08Q1 ’25$0.08Q2 2025: $0.13Q2 ’25$0.13Q3 2025: $0.18Q3 ’25$0.18Q1 2026: $0.34Q1 ’26$0.34Q2 2026: $0.41Q2 ’26$0.41Q3 2026: $0.44Q3 ’26$0.44
Data
Q1 2025$0.08
Q2 2025$0.13
Q3 2025$0.18
Q1 2026$0.34
Q2 2026$0.41
Q3 2026$0.44

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin46.9%+13.6 pts y/yQ3 2026
Q4 2024: 1.3%Q4 ’241.3%Q1 2025: 19.9%Q1 ’2519.9%Q2 2025: 26.8%Q2 ’2526.8%Q3 2025: 33.3%Q3 ’2533.3%Q4 2025: 40.9%Q4 ’2540.9%Q1 2026: 46.2%Q1 ’2646.2%Q2 2026: 47.1%Q2 ’2647.1%Q3 2026: 46.9%Q3 ’2646.9%
Data
Q4 20241.3%
Q1 202519.9%
Q2 202526.8%
Q3 202533.3%
Q4 202540.9%
Q1 202646.2%
Q2 202647.1%
Q3 202646.9%
Free cash flow$1.2B+138.9% y/yQ3 2026
Q4 2024: $457.2MQ4 ’24$457.2MQ1 2025: $304.1MQ1 ’25$304.1MQ2 2025: $531.6MQ2 ’25$531.6MQ3 2025: $500.9MQ3 ’25$500.9MQ4 2025: $764.0MQ4 ’25$764.0MQ1 2026: $891.8MQ1 ’26$891.8MQ2 2026: $1.2BQ2 ’26$1.2BQ3 2026: $1.2BQ3 ’26$1.2B
Data
Q4 2024$457.2M
Q1 2025$304.1M
Q2 2025$531.6M
Q3 2025$500.9M
Q4 2025$764.0M
Q1 2026$891.8M
Q2 2026$1.2B
Q3 2026$1.2B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$827.5Md$883.9M$1.0B$1.2B$1.4Bd$1.6B$1.9B$2.3B
Gross margin78.9%80.4%80.8%82.4%84.6%86.8%84.7%83.4%
Operating income$11.0Md$176.0M$269.3M$393.3M$575.4Md$754.0M$912.0M$1.1B
Operating margin1.3%19.9%26.8%33.3%40.9%46.2%47.1%46.9%
Net income$79.0Md$214.0M$326.7M$475.6M$608.7Md$870.5M$1.1B$1.1B
Diluted EPS—$0.08$0.13$0.18—$0.34$0.41$0.44
Operating cash flow$460.3Md$310.3M$539.3Md$507.7Md$777.3Md$899.2M$1.2Bd$1.2Bd
Capital expenditure$3.1Md$6.2M$7.6Md$6.8Md$13.3Md$7.4M$14.6Md$8.0Md
Free cash flow$457.2M$304.1M$531.6M$500.9M$764.0M$891.8M$1.2B$1.2B
R&D expense$171.5Md$134.9M$135.0M$144.2M$143.6Md$161.0M$192.5M$219.7M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings