Palantir Technologies 8-K
PositiveEarningsNew guidance
U.S. commercial revenue surged 137% Y/Y, driving Q4 growth; management expects it to more than double again in FY2026.
Filed 2026-02-02 16:06 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Q4 and FY2025 results with Q1 and FY2026 guidance. Revenue grew 70% Y/Y in Q4, led by 137% growth in U.S. commercial revenue; Palantir expects FY2026 revenue growth of 61%.
Key Figures
| Metric | Q4 2025 | Q4 2024 | Y/Y |
|---|---|---|---|
| Revenue | $1.41B | $828M | 70% |
| Income from operations | $575M | $11.0M | 5,110% |
| Adjusted income from operations, non-GAAP | $798M | $373M | 114% |
| Net income attributable to common stockholders | $609M | $79.0M | 670% |
| Adjusted net income attributable to common stockholders, non-GAAP | $648M | — | — |
| Diluted EPS | $0.24 | $0.03 | 700% |
| Adjusted diluted EPS, non-GAAP | $0.25 | — | — |
| Cash from operations | $777M | $460M | 69% |
| Adjusted free cash flow, non-GAAP | $791M | $517M | 53% |
- FY2025 revenue was $4.48B (+56% Y/Y); income from operations was $1.41B (+356%) and net income attributable to common stockholders was $1.63B (+252%). Diluted EPS was $0.63 vs $0.19.
- FY2025 cash from operations was $2.13B (+85%); adjusted free cash flow was $2.27B (+82%). Cash, cash equivalents and short-term U.S. Treasury securities totaled $7.2B at year-end.
- Q4 U.S. revenue rose 93% to $1.076B, including U.S. commercial revenue of $507M (+137%) and U.S. government revenue of $570M (+66%). Total contract value reached $4.262B (+138%); U.S. commercial remaining deal value was $4.38B (+145%).
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q1 2026 | $1.532B-$1.536B | — | — |
| Adjusted income from operations, non-GAAP | Q1 2026 | $870M-$874M | — | — |
| Revenue | FY2026 | $7.182B-$7.198B | — | — |
| U.S. commercial revenue | FY2026 | In excess of $3.144B; growth of at least 115% Y/Y | — | — |
| Adjusted income from operations, non-GAAP | FY2026 | $4.126B-$4.142B | — | — |
| Adjusted free cash flow, non-GAAP | FY2026 | $3.925B-$4.125B | — | — |
| GAAP operating income and net income | Each quarter of FY2026 | Expected in each quarter | — | — |
Investor Takeaways
- Q1 revenue and adjusted income from operations will show whether near-term delivery tracks the company’s ranges.
- FY2026 revenue and U.S. commercial revenue growth are key measures of whether the reported commercial momentum continues; conversion of large contract values into recognized revenue is also worth tracking.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3