Palantir Technologies reports Q1 2026 revenue of $1.633 billion, up 85% year over year, with full-year 2026 guidance raised to $7.65 billion–$7.662 billion.

Q1 2026 revenue reached $1.633 billion (85% year-over-year growth, 16% sequential growth), marking the highest revenue growth rate as a public company. U.S. revenue hit $1.282 billion (104% year-over-year), now representing 79% of overall business. U.S. commercial revenue surged $595 million (133% year-over-year); U.S. government revenue rose $687 million (84% year-over-year).

AIP (Artificial Intelligence Platform, Palantir's integrated enterprise AI system that governs and executes agent workflows on structured and unstructured data) drove large-scale contracts and customer expansion: net dollar retention reached 150% (up 1,100 basis points from prior quarter); U.S. commercial customer count rose 42% year-over-year to 615; trailing-twelve-month average revenue per top-20 customer reached $108 million (55% year-over-year increase).

Ship OS (an operational software system deployed with the U.S. Department of the Navy) reduced key manufacturing approval processes from 200 hours to 15 seconds, increased contract review cycle speeds by 57%–73%, and cut monthly material planning time by 94%. Maven Smart System usage doubled over the latest four months and is 4x higher over twelve months.

Full-year 2026 revenue guidance raised to $7.65 billion–$7.662 billion (71% year-over-year increase, 10% increase over previous forecast); adjusted income from operations raised to $4.44 billion–$4.452 billion; U.S. commercial revenue forecasted to exceed $3.224 billion, at least 120% growth.