Palantir Technologies Inc (NASDAQ:PLTR) reported financial results for the second quarter after the market close on Monday. Here’s a look at the key details from the AI software company’s report.
Q2 Earnings: Palantir reported second-quarter revenue of $1.004 billion, beating analyst estimates of $939.71 million. The company reported second-quarter adjusted earnings of 16 cents per share, beating analyst estimates of 14 cents per share.
Palantir has now met or exceeded analyst estimates on the top and bottom lines in eight consecutive quarters, according to data from Benzinga Pro.
Total revenue was up 48% year-over-year as U.S. revenue grew 68% year-over-year to $733 million. U.S. Commercial revenue grew 93% year-over-year to $306 million and U.S. Government revenue climbed 53% year-over-year to $426 million.
Palantir’s customer count grew 43% year-over-year and 10% on a quarter-over-quarter basis. The company said it closed 157 deals worth over $1 million during the quarter, 66 deals worth at least $5 million and 42 deals worth at least $10 million.
Palantir generated $539 million in cash from operations and $569 million in adjusted free cash flow in the quarter. Palantir ended the quarter with approximately $6 billion of cash, cash equivalents and short-term U.S. treasury securities.
“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, ” said Alex Karp, co-founder and CEO of Palantir.
“We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50% year-over-year growth.”
Guidance: Palantir expects third-quarter revenue to be in the range of $1.083 billion to $1.087 billion versus Benzinga Pro estimates of $981.1 million.
Palantir also raised its full-year guidance. Palantir now expects full-year 2025 revenue of $4.14 billion to $4.15 billion, up from prior guidance of $3.89 billion to $3.90 billion. Analysts were forecasting full-year revenue of $3.9 billion.
Palantir raised its U.S. commercial revenue guidance, adjusted income from operations guidance and adjusted free cash flow guidance for 2025. The company said it continues to expect positive GAAP operating income and net income in each quarter this year.
Palantir’s management team will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
PLTR Price Action: Palantir shares were up approximately 112% year-to-date heading into Monday's earnings report. Shares were up 3.77% in after-hours, trading at $166.75 at the time of publication, according to Benzinga Pro.
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