Palantir Revenue Surges as $13.1B Backlog Builds and Guidance Rises
Palantir reported Q2 2026 revenue rising 93% year over year to $1.935B, with operating margin expanding from 27% to 47% and net income margin reaching 55%. Management raised full-year revenue guidance to $8.15B–$8.16B, pointing to backlog conversion, while bookings grew 153% and Rackspace partnerships aim to reduce delivery bottlenecks amid prior market punishment for a mistake it says it never committed.