Palantir reports 85% year-over-year revenue growth and raises full-year guidance to 71%, but valuation multiples remain steep compared to Nvidia.

Palantir Technologies reported Q1 2026 revenue up 85% year over year, with U.S. revenue rising 104% to $1.28 billion and U.S. commercial segment surging 133% to $595 million. The company raised full-year 2026 revenue guidance from 61% growth to 71%, now expecting roughly $7.66 billion in revenue at the midpoint.

The company achieved 11 consecutive quarters of accelerating growth and reported net income of roughly $871 million in Q1 2026 (up from roughly $218 million a year earlier), with adjusted operating income hitting $984 million at a 60% margin.

Despite comparable year-over-year growth to Nvidia (which posted 73% revenue growth in its most recent fiscal quarter), Palantir trades at a price-to-earnings ratio near 150 and price-to-sales ratio close to 67, versus Nvidia's price-to-earnings ratio of about 41 and price-to-sales ratio close to 23.