Palantir Technologies

PLTR · Information Technology · Market cap $291B

Q1 FY26 Mar 31, 2026 reported May 5, 2026

Revenue$1.6B +85% year over year

Gross profit$1.4B

Operating profit$0.8B

Net profit$0.9B 53% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	1.6	100%	+85%
United States	1.3	81%
Rest of world	0.2	12%
United Kingdom	0.1	6%
Cost of revenue	−0.2	12%
Gross profit	1.4	87% margin	+6pp
Research & development	−0.2	10%	−5pp
Sales & marketing	−0.3	20%	−7pp
G&A	−0.2	11%	−7pp
Operating profit	0.8	46% margin	+26pp
Net profit	0.9	53%	+29pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.4	100%	+70%
Government Operating	0.7	50%	+60%
Commercial	0.7	50%	+82%
Cost of revenue	−0.2	14%
Gross profit	1.2	85% margin	+6pp
Research & development	−0.1	10%	−11pp
Sales & marketing	−0.3	21%	−13pp
G&A	−0.2	12%	−10pp
Operating profit	0.6	41% margin	+40pp
Net profit	0.6	43%	+34pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.2	100%	+63%
Government Operating	0.6	50%	+55%
Commercial	0.5	42%	+73%
Cost of revenue	−0.2	17%
Gross profit	1	82% margin	+3pp
Research & development	−0.1	12%	−4pp
Sales & marketing	−0.3	23%	−6pp
G&A	−0.2	14%	−5pp
Operating profit	0.4	33% margin	+18pp
Net profit	0.5	40%	+20pp

All figures in billions of U.S. dollars, for Q3 FY24 (period ends Sep 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	0.7	100%	+30%
Government Operating	0.4	57%	+33%
Commercial	0.3	43%	+27%
Cost of revenue	−0.1	14%
Gross profit	0.6	80% margin	−1pp
Research & development	−0.1	16%	−3pp
Sales & marketing	−0.2	29%	−3pp
G&A	−0.1	19%	−4pp
Operating profit	0.1	16% margin	+8pp
Net profit	0.1	20%	+7pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 31, 2026	May 5, 2026	$1.6B	+85%	50%	$0.9B	53%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 17, 2026	$1.4B	+70%	43%	$0.6B	43%
Q3 FY25	Jul 1 – Sep 30, 2025	Nov 4, 2025	$1.2B	+63%	33%	$0.5B	40%
Q3 FY24	Jul 1 – Sep 30, 2024	Nov 5, 2024	$0.7B	+30%	14%	$0.1B	20%