Palantir Technologies (PLTR) Q2 2026: Revenue +92.8%, Operating Margin 47.1%, Full-Year Guidance Raised to +82%
Palantir Technologies' Q2 2026 results redefined the margin profile expected of an AI software company. Quarterly revenue reached $1,935.5 million, up 92.8% year-over-year, marking the first quarter to exceed $1.9 billion (versus Q1 2026 revenue of $1,632.6 million). Operating income came in at $912.0 million (up 238.6%), with operating margin expanding 20.3 percentage points from 26.8% to 47.1%. Diluted EPS was $0.41 (vs. $0.13 in the year-ago quarter). Commercial segment revenue grew 109.8%, outpacing Government segment growth of 79.0%; on a quarterly basis, Commercial segment contribution income surpassed Government for the first time. First-half cumulative free cash flow (FCF) reached $2.093 billion, a 108% conversion rate exceeding net income of $1.942 billion.
In the same earnings release, the company raised its full-year 2026 revenue guidance to $8.15 billion–$8.16 billion (+82% year-over-year) (see Section 5).
