PLTR · Palantir Technologies Inc.
10-Q filed 2026-05-05 period 2026-03-31
94 Strong
confidence high · source filing on SEC.gov ↗
- Revenue grew 85% YoY to $1.63 billion, driven by 95% growth in the Commercial segment and 76% growth in the Government segment.
- Palantir expanded its third-party cloud services agreement in March 2026, committing to spend at least $5.6 billion over ten years through 2036.
- Customer concentration in accounts receivable increased, with Customer I accounting for 31% of total receivables as of March 31, 2026, up from 25% at year-end 2025.
Filing Health Score pillars
Profitability 25%
98
Revenue grew 85% YoY to $1.63 billion, while operating margin expanded significantly from 20% to 46% due to strong operating leverage (Results of Operations).
Balance sheet 20%
95
The company has $8.0 billion in cash and marketable securities with zero outstanding debt, and a strong current ratio of 6.9x (Condensed Consolidated Balance Sheets).
Cash generation 20%
97
Operating cash flow of $899.2 million exceeds net income of $876.4 million, representing a high free cash flow margin of 54.6% with minimal capex intensity (Condensed Consolidated Statements of Cash Flows).
Risk flags 20%
85
Risk profile is clean with no going-concern issues, though customer concentration in accounts receivable is notable with Customer I representing 31% of total receivables (Note 2, Concentrations of Credit Risk).
Mgmt signal 15%
95
Management reports exceptional segment momentum, particularly in U.S. commercial revenue which grew 133% YoY, and an increase in overall contribution margin to 73% (Comparison of the Three Months Ended March 31, 2026 and 2025).
Key metrics (Three Months Ended March 31, 2026)
net income: $876,402 thousand
cash and equivalents: $2,291,631 thousand
total debt: $0
shares outstanding: 2,395,892 thousand Class A shares and 100,236 thousand Class B shares
revenue: $1,632,583 thousand
period: Three Months Ended March 31, 2026
operating cash flow: $899,165 thousand
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.