PLTR
Palantir Technologies Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Palantir Technologies Inc..
Coverage
Palantir Is Scoring 139 on the Rule of 40 — and Both Halves Are Still Rising
The Rule of 40 was built as a trade-off: buy growth with margin, or margin with growth. Palantir has spent five quarters refusing the trade. Revenue growth went 17.6% to 84.7% while free-cash-flow margin went 14.5% to 54.6%, and the combined score went 32 to 139 — the fourth-highest on this site, and the only one in the top five built on an operating business rather than a cycle or a balance sheet.
Palantir Reports Tonight, and the Only Number We Can Update Is the One That Was Never the Problem
Palantir reports Q2 2026 tonight. The print settles revenue, the half of our score that was never stale — not the free-cash-flow series stuck at 2024 Q4.
Palantir's Q2: Revenue Up 92.8%, Cash Margin 62%, Rule of 40 of 155
Palantir beat on both lines — $1.935B of revenue against $1.81B expected, $0.41 of GAAP EPS against $0.34 — but the number that matters is that growth accelerated again while free-cash-flow margin also rose, taking its Rule of 40 to 155. Bookings grew faster than revenue and every guidance line went up.
Palantir trending as growth stock post-earnings
Follow-up coverage on strong guidance (61%+ 2026 growth); some bears warn of more selling, but seen as long-term AI play.
Palantir Down 13%
Investors sell amid risk-off in AI/software; profit-taking after run, valuation sensitivity, growth concerns.
Palantir Bearish
Lost key support, grinding lower without capitulation—distribution; longs low quality until 155 reclaimed.
Latest: $1.94B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $289M |
| 2020Q4 | $322M |
| 2021Q1 | $341M |
| 2021Q2 | $376M |
| 2021Q3 | $392M |
| 2021Q4 | $433M |
| 2022Q1 | $446M |
| 2022Q2 | $473M |
| 2022Q3 | $478M |
| 2022Q4 | $509M |
| 2023Q1 | $525M |
| 2023Q2 | $533M |
| 2023Q3 | $558M |
| 2023Q4 | $608M |
| 2024Q1 | $634M |
| 2024Q2 | $678M |
| 2024Q3 | $726M |
| 2024Q4 | $828M |
| 2025Q1 | $884M |
| 2025Q2 | $1.00B |
| 2025Q3 | $1.18B |
| 2025Q4 | $1.41B |
| 2026Q1 | $1.63B |
| 2026Q2 | $1.94B |
Latest: $0.41 (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | -$0.94 |
| 2020Q4 | $0.23 |
| 2021Q1 | -$0.07 |
| 2021Q2 | -$0.07 |
| 2021Q3 | -$0.05 |
| 2021Q4 | -$0.08 |
| 2022Q1 | -$0.05 |
| 2022Q2 | -$0.09 |
| 2022Q3 | -$0.06 |
| 2022Q4 | $0.02 |
| 2023Q1 | $0.01 |
| 2023Q2 | $0.01 |
| 2023Q3 | $0.03 |
| 2023Q4 | $0.04 |
| 2024Q1 | $0.04 |
| 2024Q2 | $0.06 |
| 2024Q3 | $0.06 |
| 2024Q4 | $0.03 |
| 2025Q1 | $0.08 |
| 2025Q2 | $0.13 |
| 2025Q3 | $0.18 |
| 2025Q4 | $0.23 |
| 2026Q1 | $0.34 |
| 2026Q2 | $0.41 |
Latest: 200.0 (2024Q4)
| Period | Value |
|---|---|
| 2022Q1 | 350.0 |
| 2022Q2 | 500.0 |
| 2022Q3 | 300.0 |
| 2022Q4 | 150.0 |
| 2023Q1 | 80.0 |
| 2023Q2 | 75.0 |
| 2023Q3 | 65.0 |
| 2023Q4 | 75.0 |
| 2024Q1 | 90.0 |
| 2024Q2 | 110.0 |
| 2024Q3 | 150.0 |
| 2024Q4 | 200.0 |
Latest: $1.20B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | -$54M |
| 2020Q4 | -$23M |
| 2021Q1 | $116M |
| 2021Q2 | $22M |
| 2021Q3 | $95M |
| 2021Q4 | $88M |
| 2022Q1 | $20M |
| 2022Q2 | $57M |
| 2022Q3 | $33M |
| 2022Q4 | $74M |
| 2023Q1 | $183M |
| 2023Q2 | $86M |
| 2023Q3 | $132M |
| 2023Q4 | $296M |
| 2024Q1 | $127M |
| 2024Q2 | $141M |
| 2024Q3 | $416M |
| 2024Q4 | $457M |
| 2025Q1 | $304M |
| 2025Q2 | $532M |
| 2025Q3 | $501M |
| 2025Q4 | $764M |
| 2026Q1 | $892M |
| 2026Q2 | $1.20B |
Latest: $2,571,057,000.00 (2025Q3)
| Period | Value |
|---|---|
| 2020Q3 | $580,104,846.00 |
| 2021Q1 | $594,363,000.00 |
| 2021Q2 | $640,669,000.00 |
| 2021Q3 | $905,462,000.00 |
| 2022Q1 | $1,821,158,000.00 |
| 2022Q2 | $1,894,606,000.00 |
| 2022Q3 | $1,964,395,000.00 |
| 2023Q1 | $2,036,307,000.00 |
| 2023Q2 | $2,054,799,000.00 |
| 2023Q3 | $2,073,265,000.00 |
| 2024Q1 | $2,217,439,000.00 |
| 2024Q2 | $2,278,155,000.00 |
| 2024Q3 | $2,325,600,000.00 |
| 2025Q1 | $2,552,818,000.00 |
| 2025Q2 | $2,562,912,000.00 |
| 2025Q3 | $2,571,057,000.00 |
Latest: $6.23B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | -$286M |
| 2020Q4 | -$309M |
| 2021Q1 | -$193M |
| 2021Q2 | -$171M |
| 2021Q3 | -$75M |
| 2021Q4 | $12M |
| 2022Q1 | $33M |
| 2022Q2 | $90M |
| 2022Q3 | $122M |
| 2022Q4 | $196M |
| 2023Q1 | $379M |
| 2023Q2 | $465M |
| 2023Q3 | $597M |
| 2023Q4 | $893M |
| 2024Q1 | $1.02B |
| 2024Q2 | $1.16B |
| 2024Q3 | $1.58B |
| 2024Q4 | $2.03B |
| 2025Q1 | $2.34B |
| 2025Q2 | $2.87B |
| 2025Q3 | $3.37B |
| 2025Q4 | $4.13B |
| 2026Q1 | $5.03B |
| 2026Q2 | $6.23B |
Latest results
Company History
Founded on May 6, 2003, by Peter Thiel, Stephen Cohen, Alex Karp, Joe Lonsdale, and Nathan Gettings, initially bankrolled by Thiel to develop data analysis software inspired by PayPal fraud detection.
Thiel funded a prototype; Alex Karp hired as CEO, with In-Q-Tel
Partnered with Thomson Reuters and credited by Vice President Joe Biden for aiding fraud detection.
Raised over $196 million, valued at $9 billion; clients included CIA, DHS, NSA, FBI, linking siloed databases.
Completed IPO on NYSE under ticker PLTR, aiming to become default operating system across the US.
Reported first positive GAAP net income of $31 million in Q1 2023, achieving profitability after ~20 years.
Awarded nearly $1 billion Navy contract.
Added to S&P 500 index, boosting share price; transferred stock listing to Nasdaq.
Key Players
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