"Palantir Technologies ( NYSE: PLTR) reports after the close. The setup is clear. The company exited last quarter with its first billion-dollar quarter and a Rule of 40 score of 94, reflecting powerful growth paired with expanding profitability. Momentum is concentrated in the United States where commercial demand for Palantir's AIP platform is inflecting and government programs continue to scale. Management raised full-year revenue guidance and highlighted unprecedented bookings across both segments, setting a high bar into tonight's print."
"U.S. Commercial acceleration and mix. Segment grew 93% year over year and 20% sequentially, lifting U.S. to 73% of company revenue. Watch whether growth remains above 80% and if U.S. commercial mix continues to rise. AIP as a platform, not a point product. Management says enterprises are re-platforming on AIP for 10x faster time to value. Evidence would include larger TCV, shorter sales-to-production cycles, and wider AIP module adoption."
Palantir reported Q2 FY2025 revenue of $1.0037 billion and normalized EPS of $0.16, exceeding estimates by +6.82% on revenue and +14.29% on EPS. U.S. Commercial revenue grew 93% year over year and 20% sequentially, representing 73% of company revenue and driving momentum. AIP is being positioned as a re-platforming solution, promising 10x faster time to value with larger TCVs, shorter sales-to-production cycles, and broader module adoption. U.S. government revenue increased 53% with multi-billion awards and significant Space Force orders. Bookings hit record levels with $2.3 billion TCV, $684 million ACV, 128% NDR, and $7.1 billion remaining deal value. Profitability remains strong with a 46% adjusted operating margin and 57% adjusted FCF margin, and guidance reflects continued margin discipline.
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