Highlights:

  • Palantir’s U.S. commercial revenue grew 137% YoY in Q4 2025, reaching USD 507M.
  • Total revenue for Q4 2025 increased 70% YoY to USD 1.407B.
  • FY 2026 guidance projects revenue growth of 61% YoY and U.S. commercial growth of 115%.

Palantir Technologies Inc (NASDAQ:PLTR) reported sharp year-over-year growth in U.S. commercial revenue during Q4 2025, alongside elevated total revenue expansion. The company also issued FY 2026 revenue guidance indicating continued acceleration in U.S. commercial activity. Profitability metrics, cash generation, and contract values showed material increases across both quarterly and full-year periods.

Q4 2025 Revenue Performance
Palantir recorded total revenue of USD 1.407B for the fourth quarter of 2025, representing a year-over-year increase of 70% and a quarter-over-quarter rise of 19%. U.S. revenue reached USD 1.076B, reflecting 93% year-over-year growth and 22% sequential growth. Within this, U.S. commercial revenue increased 137% year-over-year and 28% quarter-over-quarter to USD 507M, while U.S. government revenue grew 66% year-over-year and 17% quarter-over-quarter to USD 570M.

Contract Activity and Customer Expansion
During the quarter, Palantir closed 180 deals valued at USD 1M or more, including 84 deals exceeding USD 5M and 61 deals above USD 10M. Total contract value closed during Q4 reached USD 4.262B, up 138% year-over-year. U.S. commercial total contract value stood at USD 1.344B, marking a 67% year-over-year increase. U.S. commercial remaining deal value rose to USD 4.38B, reflecting 145% year-over-year growth and 21% quarter-over-quarter growth. Customer count increased 34% year-over-year and 5% sequentially.

Profitability and Cash Flow Metrics
For Q4 2025, GAAP income from operations totaled USD 575M, representing a margin of 41%. Adjusted income from operations reached USD 798M, with a margin of 57%. GAAP net income amounted to USD 609M, translating into a 43% margin. Cash from operations was USD 777M, representing 55% of revenue, while adjusted free cash flow totaled USD 791M, reflecting a 56% margin. GAAP diluted earnings per share were USD 0.24, while adjusted diluted earnings per share were USD 0.25.

FY 2025 Financial Overview
For the full year 2025, Palantir reported total revenue of USD 4.475B, up 56% year-over-year. U.S. revenue increased 75% year-over-year to USD 3.32B, with U.S. commercial revenue rising 109% to USD 1.465B and U.S. government revenue growing 55% to USD 1.855B. GAAP net income for the year was USD 1.625B, representing a 36% margin, while adjusted net income totaled USD 1.916B. Cash from operations reached USD 2.134B, and adjusted free cash flow amounted to USD 2.27B.

FY 2026 Outlook
For the first quarter of 2026, Palantir expects revenue between USD 1.532B and USD 1.536B, with adjusted income from operations ranging from USD 870M to USD 874M. For the full year 2026, the company forecasts revenue between USD 7.182B and USD 7.198B.

U.S. commercial revenue is expected to exceed USD 3.144B, reflecting growth of at least 115%. Adjusted income from operations is projected between USD 4.126B and USD 4.142B, while adjusted free cash flow is expected to range between USD 3.925B and USD 4.125B.

Stock Performance
Palantir Technologies Inc. shares closed at USD 147.78 on 2 February, rising 0.81% for the session.