Palantir delivered revenue growth of 48% in the second quarter as US commercial and government sales surged.
The company also raised its outlook.
Palantir reported second quarter earnings of $327 million, or 13 cents a share, on revenue of $1.004 billion, up 14% from a year ago.
Wall Street was looking for non-GAAP earnings of 14 cents a share on revenue of $939.5 million.
In a shareholder letter, Palantir CEO Alex Karp quoted himself and C.S. Lewis and argued that his company "will become the dominant software company of the future."
By the numbers for the second quarter:
- Palantir reported second quarter US revenue of $733 million, up 68% from a year ago. US commercial revenue was $306 million, up 93% from a year ago. US government revenue was up 53% from a year ago to $426 million.
- The company closed 157 deals of at least $1 million and 66 of at least $5 million.
- Palantir landed 42 deals worth more than $10 million.
- In the quarter, Palantir closed $2.27 billion of total contract value, up 140% from a year ago.
As for the outlook, Palantir projected third quarter revenue of $1.083 billion and $1.087 billion with adjusted income from operations of $493 million to $497 million.
For 2025, Palantir projected revenue between $4.142 billion to $4.15 billion. US commercial revenue for 2025 will top $1.302 billion, up about 85% from a year ago. Adjusted income from operations will be $1.912 billion and $1.92 billion.
