Palantir Technologies Inc - Class A
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.07%.
Did PLTR Beat Earnings? Q2 2025 Results
Palantir delivered a landmark quarter in Q2 2025, crossing the $1 billion revenue threshold for the first time and leaving Wall Street's expectations well behind, with revenue of $1.00 billion representing 48.0% year-over-year growth and a 6.84% beat against the $939.47 million consensus. Adjusted EPS of $0.16 topped the $0.14 estimate by 15.52%, while GAAP net income more than doubled from the year-ago period to reach a 33% margin. The primary engine behind the blowout was explosive U.S. commercial momentum, with that segment surging 93% year-over-year to $306 million as Palantir's Artificial Intelligence Platform continued driving rapid enterprise adoption. Contract activity was equally striking, with a record $2.27 billion in total contract value closed during the quarter, up 140% year-over-year. Looking ahead, management raised full-year 2025 revenue guidance to $4.14 to $4.15 billion, implying approximately 45% growth, while projecting Q3 revenue of $1.08 to $1.09 billion, which would mark the highest sequential quarterly revenue growth in company history.
- AI leverage driving accelerating adoption across U.S. commercial and government segments
- U.S. commercial revenue growth of 93% Y/Y driven by AIP adoption
- Record total contract value of $2.27 billion closed in Q2, up 140% Y/Y
- U.S. commercial TCV of $843 million, up 222% Y/Y
- Customer count grew 43% Y/Y and 10% Q/Q
- 157 deals of at least $1 million, 66 deals of at least $5 million, and 42 deals of at least $10 million
“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage. Our Rule of 40 score was 94%, once again obliterating the metric. Year-over-year growth in our U.S. business surged to 68%, and year-over-year growth in U.S. commercial climbed to 93%. We are guiding to the highest sequential quarterly revenue growth in our company's history, representing 50% year-over-year growth.”
Palantir CEO, on the earnings call
Forward Guidance & Outlook
For Q3 2025, Palantir expects revenue of $1.083–$1.087 billion (implying 50% year-over-year growth) and adjusted income from operations of $493–$497 million. For full year 2025, the company raised revenue guidance to $4.142–$4.150 billion (approximately 45% year-over-year growth), raised U.S. commercial revenue guidance to in excess of $1.302 billion (at least 85% growth), raised adjusted income from operations guidance to $1.912–$1.920 billion, and raised adjusted free cash flow guidance to $1.8–$2.0 billion. The company continues to expect GAAP operating income and net income in each quarter of 2025.
PLTR YoY Financials
PLTR Revenue by Segment
PLTR Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.