PLTR · Full Picture

Palantir Technologies Inc. — the full picture

Earnings window · 2026-08-04 to 2026-11-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Guidance and Outlook · Guidance & outlookPriority 92
    +69.7% revenue; 3 sources (news, press_release, transcript); 7 forward row(s); quote_verified
    Palantir Technologies Inc. management raised its 2026 revenue outlook to about $8.15 billion, an 82% increase over 2025.
  2. Contract Bookings Growth · Demand, orders & backlogPriority 88
    +33.3% revenue; 3 sources (news, press_release, transcript); 2 forward row(s); quote_verified
    U.S. commercial total contract value for Palantir Technologies Inc. was a record $2.132 billion, up 153% year-over-year.
  3. Free Cash Flow and Liquidity · UnclassifiedPriority 82
    +16.8% cash (realized); 3 sources (news, press_release, transcript); 1 forward row(s); quote_verified
    Palantir's CFO said full-year 2026 cash flow was being guided to almost $5 billion.
  4. Margin Expansion · Gross marginPriority 80
    +49.0% revenue (realized); 3 sources (news, press_release, transcript); quote_verified
    GAAP net income margins rose from under 10% to 55% over three quarters.
  5. Revenue Performance and Mix · Revenue growth & mixPriority 75
    3 sources (news, press_release, transcript); 3 forward row(s); quote_verified
    PLTR delivered robust Q2 results: 94% YoY revenue growth, $1.06B GAAP net income, and a 62% adjusted operating margin.
  6. Revenue Concentration Risk · Customers & concentrationPriority 73
    +65.2% revenue (realized); 2 sources (news, transcript); 1 forward row(s); quote_verified
    Third-quarter trailing 12-month average revenue from Palantir's top 20 customers rose 76% year-over-year to $146 million per customer.
  7. Operating Expense Trends · Operating expenses (SG&A)Priority 71
    -15.9% operating_income (realized); 2 sources (press_release, transcript); quote_verified
    Palantir's Q3 adjusted expense was $887 million, up 20% sequentially and 53% year-over-year, primarily due to continued AI platform investment and technical hiring.
  8. Defense AI Demand · Demand, orders & backlogPriority 68
    2 sources (news, transcript); 1 forward row(s); quote_verified
    A ResearchAndMarkets report projects the Global Signals Intelligence (SIGINT) Market to grow from USD 30.4 billion in 2025 to USD 60.9 billion by 2035, and lists Palantir among companies driving demand.
  9. FAA Contract Loss · UnclassifiedPriority 67
    -6.8% revenue; 1 forward row(s); quote_verified
    Palantir Lost an $875 Million Contract.
  10. Commercial Customer Expansion · Capacity & footprint expansionPriority 65
    +3.2% revenue; 2 sources (news, transcript); 5 forward row(s); quote_verified
    Palantir's Q2 2026 revenue was up 94% year-over-year.
  11. Geographic Revenue Commentary · Geographic mixPriority 63
    3 sources (news, press_release, transcript); quote_verified
    Q3 2026 U.S. revenue was $1.937 billion, up 119% year-over-year and 23% quarter-over-quarter.
  12. Market Demand Trends · Demand, orders & backlogPriority 58
    quote_verified
    Palantir CEO Alex Karp said demand for its AI offerings was outpacing its ability to deliver, describing demand as insatiable and growing and the market as much larger than the company could serve.

Threads by pillar

Revenue & Demand Priority 95 · 9 threads

Costs & Margins Priority 85 · 4 threads

Capital & Balance Sheet Priority 53 · 3 threads

Strategy & Portfolio Priority 72 · 10 threads

Legal, Regulatory & Policy Priority 38 · 3 threads

Guidance & Outlook Priority 92 · 1 thread

Macro & Market Conditions Priority 34 · 4 threads

Unclassified Priority 90 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
revenue+100.0%+119.0%+309.2%
liability-0.0%+0.0%—
operating_income——-15.9%
cash——+16.8%