Palantir Technologies just filed an 8-K with the SEC covering its Q2 2026 results (quarter ended June 30, 2026), and the headline is simple: it blew past what Wall Street expected and lifted its outlook for the rest of the year. Revenue grew 93% from a year ago to $1.94 billion, and the company raised its full-year guidance — the kind of "beat-and-raise" print that gets a lot of attention.

The numbers

• Revenue: $1.94 billion, up 93% year-over-year — ahead of the roughly $1.81 billion analysts expected, and above Palantir's own prior guide of about $1.80 billion.
• Adjusted EPS: $0.41 vs. roughly $0.34–$0.35 expected — a clear beat. GAAP diluted EPS was also $0.41 (basic $0.44), up from $0.13 a year ago.
• US commercial revenue: $764 million, up 149% YoY — the standout engine, driven by demand for its AI Platform (AIP).
• US government revenue: $809 million, up 90% YoY; total US revenue rose 115% to $1.57 billion.
• Profitability: GAAP net income $1.06 billion (55% margin); adjusted operating margin 62%; "Rule of 40" score of 155%. Adjusted free cash flow was $1.22 billion, and cash plus US Treasuries stood at $9.2 billion.
• Guidance RAISED: full-year 2026 revenue now seen at $8.15–$8.16 billion (~82% growth), US commercial revenue above $3.42 billion (at least 134% growth), and Q3 revenue of about $2.16 billion.

What was filed: an 8-K, item 2.02

An 8-K is the form a US public company uses to tell investors about a material event between its regular quarterly reports — anything important enough that shareholders should know right away. Companies file the full financials later in a 10-Q; the 8-K is the fast heads-up.

Item 2.02 is the specific box that means "Results of Operations and Financial Condition" — in plain English, the earnings release. Palantir's filing also carried Item 7.01 (Regulation FD, a general disclosure item) and Item 9.01 (the exhibits, where the actual press release with the numbers is attached as Exhibit 99.1). So when you see "8-K, item 2.02" from a company after the market closes, it almost always means: the quarterly earnings just dropped.

Why it matters

Palantir sells data and AI software to two very different customers: governments (defense, intelligence, agencies) and large companies. The market's biggest question all year has been whether the commercial side — winning ordinary businesses, not just government contracts — can keep scaling. This quarter's 149% jump in US commercial revenue, plus a raised full-year commercial target of at least 134% growth, is the company's answer that AI-platform demand is broadening, not fading.

A few things to keep in your back pocket when reading a print like this. First, growth this fast is being measured against a smaller base a year ago, so triple-digit percentages naturally cool as the numbers get bigger. Second, GAAP net income of $1.06 billion includes roughly $169 million of non-operating income (interest on its cash pile plus gains on investments) — real money, but not the core software business, so it can flatter the bottom line in any given quarter. Third, Palantir stock has historically traded at a very high valuation, which means expectations are already lofty; a big beat and a healthy stock reaction are two separate things. None of that is a prediction — just context for reading the release rather than the ticker.

Beginner takeaway

Palantir grew revenue 93% and beat both Wall Street's estimate and its own guidance, then raised its outlook for the year — a textbook "beat-and-raise." The engine was US commercial AI demand. Just remember that a strong report and a strong stock move don't always line up, because a lot of good news can already be baked into an expensive stock.

FAQ

What does "beat-and-raise" actually mean? The company reported results above analyst expectations for the just-ended quarter ("beat") and lifted its forecast for future periods ("raise"). Investors usually treat the raise as the more important half, because it's about the future.

Why do GAAP EPS and "adjusted" EPS differ, and why were they both $0.41 here? GAAP follows standard accounting rules; adjusted (non-GAAP) EPS strips out items like stock-based compensation to show underlying operations. They can differ a lot, but this quarter they happened to land at the same $0.41 after Palantir's tax adjustments — a sign the profit was broad-based rather than propped up by one line.

What is the "Rule of 40"? It's a software-industry shorthand: add a company's revenue growth rate and its profit margin, and a healthy result is above 40. Palantir reported 155%, which is exceptionally high — driven by both fast growth and strong margins.

Where can I read the filing myself? On the SEC's free EDGAR system, linked below. The actual numbers live in "Exhibit 99.1," the press release attached to the 8-K.

As of August 3, 2026. Source: official SEC filing — read it directly here. We summarise filings for education and may make errors, so always verify against the official document. Educational content only — not investment advice, not a buy/sell recommendation.