Palantir (PLTR) revenue and profit, from its SEC filings
Every figure below is as Palantir Technologies Inc. filed it with the U.S. Securities and Exchange Commission in its annual (10-K) and quarterly (10-Q) reports. Latest filing: 10-Q filed August 4, 2026.
In short
Palantir builds data-analysis software platforms — Gotham, Foundry and its AI Platform (AIP) — used by government agencies and by commercial companies.
It is a much smaller company than the others on these pages, and for most of its history it reported losses. The filed figures below show when that changed.
Revenue went from $1.54B in fiscal 2021 to $4.48B in fiscal 2025 — growth of 30.5% a year on average.
In fiscal 2025 it was 56.2% higher than the year before.
Palantir kept 36.3% of its revenue as net profit in fiscal 2025, against −33.7% in fiscal 2021.
Free cash flow — operating cash flow minus capital expenditure — was $2.10B, more than its net income.
In its latest quarter (Q2 FY2026, to June 30, 2026) revenue was $1.94B, 92.8% more than a year earlier.
Revenue and profit by year
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| FY2025 to December 31, 2025 | $4.48B | $3.69B | $1.41B | $1.63B | 36.3% | $2.10B | — | $1.42B |
| FY2024 to December 31, 2024 | $2.87B | $2.30B | $310M | $462M | 16.1% | $1.14B | — | $2.10B |
| FY2023 to December 31, 2023 | $2.23B | $1.79B | $120M | $210M | 9.4% | $697M | — | $831M |
| FY2022 to December 31, 2022 | $1.91B | $1.50B | −$161M | −$374M | −19.6% | $184M | — | $2.60B |
| FY2021 to December 31, 2021 | $1.54B | $1.20B | −$411M | −$520M | −33.7% | $321M | $0 | $2.29B |
The latest quarters
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 to June 30, 2026 | $1.94B | $1.64B | $912M | $1.06B | 54.9% | $1.20B | — | $2.03B |
| Q1 FY2026 to March 31, 2026 | $1.63B | $1.42B | $754M | $871M | 53.3% | $892M | — | $2.29B |
| Q4 FY2025 to December 31, 2025 | $1.41B | $1.19B | $575M | $609M | 43.3% | $764M | — | $1.42B |
| Q3 FY2025 to September 30, 2025 | $1.18B | $974M | $393M | $476M | 40.3% | $501M | — | $1.62B |
| Q2 FY2025 to June 30, 2025 | $1.00B | $811M | $269M | $327M | 32.6% | $532M | — | $930M |
A quarter is taken as filed where the report states it; otherwise it is the year-to-date figure minus the one before it, which is how the fourth quarter (never filed on its own) is found.
What to watch in Palantir's statements
- Whether net income stays positive, and how much of it comes from interest on its cash rather than from the business.
- Revenue growth, split in its reports between government and commercial customers.
- Free cash flow against net income, since much of its cost is paid in shares rather than cash.
How to read these figures
- Revenue vs profit — why the top line and the bottom line tell different stories.
- Reading an earnings report — where these figures come from each quarter.
- How to read a company — what to look at first.
- P/E and its traps — and why this page shows no P/E: it needs the share price, which our licences keep inside the app.
Source: the company's filings with the U.S. Securities and Exchange Commission (EDGAR). Free cash flow is operating cash flow minus capital expenditure; total debt adds long-term debt (current and non-current), commercial paper and short-term borrowings, each as filed. A dash means the company did not file that line for the period. No share price, market value or estimate appears here: those are licensed market data, shown to members in the app.
Other companies
Questions
What was Palantir's revenue in fiscal 2025?
Palantir reported revenue of $4.48B for fiscal 2025, the year that ended on December 31, 2025, in its annual report (10-K) filed with the SEC.
Is Palantir profitable?
Yes. It reported net income of $1.63B in fiscal 2025, a net margin of 36.3% — 36 cents kept as profit from every dollar of revenue.
Has Palantir made a profit every year?
Not in every one of the 5 fiscal years shown: it reported a net loss in fiscal 2021, fiscal 2022, and a profit in the others.
What is Palantir's profit margin?
In fiscal 2025 its gross margin was 82.4% (revenue minus the direct cost of what it sold) and its net margin 36.3% (what was left after every cost, interest and tax).
How much debt does Palantir have?
Its filings for fiscal 2025 report no debt line; cash and cash equivalents were $1.42B.
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