Palantir Technologies Inc. has announced a remarkable 39% growth in revenues, reaching $634.3 million in the latest quarter compared to the same period last year. The increase is a positive indicator of the company’s performance with its commercial sector as well as its government contracting work. Palantir’s CEO, Alex Karp, attributed the company’s success to a “tectonic shift” in artificial intelligence adoption and emphasized that the firm is now the “operating system for the modern enterprise in the era of AI.”
During this period, Palantir closed 139 deals that each exceeded $1 million, with 51 of those deals surpassing $5 million. The company has even had its U.S. revenues grow 55% in the second quarter, up to $628 million, cementing their already iron grip on the domestic market.
Palantir provided an upbeat projection, promising that their earnings would soon grow. They even see NASA’s overall U.S. commercial revenues exceeding their $1.178 billion projection for this year. The company raised its full-year revenue outlook to between $3.89 billion and $3.90 billion, reflecting confidence in ongoing demand for its services.
As for the commercial segment, that had a strong boost as well, with revenues ballooning 71% YoY to $255 million. Sales in the government segment surged 45% to $373 million. Karp pointed to the booming success in this space as an example. He chalked it up largely to the increasing adoption of Palantir’s wares by the U.S. defense establishment.
Not only did Palantir grow revenues, but it posted a more than 1650% jump in net income. The joint venture generated net income of about $214 million, or 8 cents per share, versus about $105.5 million, or 4 cents per share, in the year-ago quarter. The company is expecting adjusted income from operations to come in between $1.711 billion and $1.723 billion.
Palantir increased its guidance for adjusted free cash flow for the year. Those estimates have moved upward, first to $1.6 billion and then to $1.8 billion. The firm projected revenues for the next quarter to fall between $934 million and $938 million.
For most of 2025, tech stocks have been a contentious battlefield. Palantir’s shares have shown incredible strength during a turbulent market.
Karp concluded with a powerful statement about the company’s trajectory: “We believe our results are indicative of a revolution sweeping across our business and industry.”