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Palantir Technologies reported second-quarter fiscal 2026 revenue of $1.935 billion, a 93% increase year-over-year, according to the company's earnings release on Aug.
The result included commercial segment revenue of $945 million, up 90% year-over-year, and US commercial revenue of $1.573 billion, up 115% year-over-year.
Earnings per share came in at $0.41, exceeding the Wall Street consensus of $0.34. The company generated $1.216 billion in cash from operations and held $9.2 billion in cash, equivalents, and short-term U.S.
CEO Alex Karp recently criticized closed-weight AI models in his Q2 letter to shareholders, labeling them part of a "Token Industrial Complex." Karp accused these models of adding no real value, increasing enterprise costs, and potentially stealing intellectual property.
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