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FY2026 Q2
Повышен
Отчётный звонок Palantir Technologies Inc.
Вывод Buzzberg
U.S.
Palantir reported a blowout Q2 with 93% revenue growth, driven by 149% growth in U.S. commercial, and raised its full-year guidance significantly. Management positioned itself as the winner in the 'sovereign AI' movement, contrasting its approach with 'token maxing' competitors. Q2 revenue grew 93% YoY to $1.935B, with U.S. commercial growing 149% YoY.
Вывод Buzzberg U.S. Palantir reported a blowout Q2 with 93% revenue growth, driven by 149% growth in U.S. commercial, and raised its full-year guidance significantly. Management positioned itself as the winner in the 'sovereign AI' movement, contrasting its approach with 'token maxing' competitors. Q2 revenue grew 93% YoY to $1.935B, with U.S. commercial growing 149% YoY. Читать полный анализСвернуть анализ
Palantir reported a blowout Q2 with 93% revenue growth, driven by 149% growth in U.S. commercial, and raised its full-year guidance significantly. Management positioned itself as the winner in the 'sovereign AI' movement, contrasting its approach with 'token maxing' competitors. Q2 revenue grew 93% YoY to $1.935B, with U.S. commercial growing 149% YoY.
- Company raised full-year revenue guidance to $8.154B (from ~$7.4B), citing massive demand for sovereign AI.
- U.S. commercial TCV bookings hit a record $2.132B, up 153% YoY.
- Rule of Forty score is 155, with adjusted free cash flow margin of 63%.
Выручка$1.9355B+19% к/к
US_COMMERCIAL Выручка$0.764B+28% к/к
EPS$0.41+24% к/к
Валовая маржа84.66%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Guidance
Management raises full-year revenue guidance by 11 points
AI
Sovereign AI is core strategy, driven by customer demand
Показать ещё 3 тезиса
AI
Post-training models can beat frontier benchmarks
Competition
AIP wins bake-off against frontier lab
Demand
Net dollar retention reaches 157%
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $1.9355B | +19% к/к |
| US_COMMERCIAL Выручка | $0.764B | +28% к/к |
| EPS | $0.41 | +24% к/к |
| Валовая маржа | 84.66% | Факт |
| Операционная маржа | 47.12% | Факт |
| Свободный денежный поток | $1.2016B | +35% к/к |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Свободный денежный поток | FY2026 | $4.5B–$4.7B | $4.6B | Повышен |
| Операционная маржа | FY2026 | $4.889B–$4.897B | $4.893B | Повышен |
| Выручка | FY2026 | $8.15B–$8.158B | $8.154B | Повышен |
| ВыручкаUS_COMMERCIAL | FY2026 | $3.424B | $3.424B | Повышен |
AI, капзатраты и спрос
Оценка менеджмента
Upbeat
Management's tone is highly bullish, repeatedly emphasizing record results, unprecedented demand, and a transformative shift to sovereign AI, with language like 'astonishing' and 'revolutionary change.'
Оценка AI от менеджмента
Management positions AIP as the definitive enterprise AI platform for sovereign AI, where customers own their data, logic, and models. They emphasize real economic value over token consumption, with examples of post-training beating frontier benchmarks and winning bake-offs against labs. Demand is surging as U.S. commercial revenue grows 149%, with customers converting to multi-year deals and expa
Инвестиции и мощности
Management discusses a cost increase from taking on cloud hosting for a government customer, which they believe will enable faster time-to-value and expand future workflows. They continue investing in technical hiring and R&D to support the AI platform and sovereign AI efforts, with expenses ramping in Q3.
все упомянутые компании ниже: 3
Компаниис момента звонка
Партнёры
ANDURIL
Партнёры
Alex Karp
Indirect mention of a partnership approach in defense tech, which is a core part of Anduril's business, suggesting a collaborative or competitive dynamic.
Доказательства
“We've seen this in the defense tech stuff. And Shyam, you know, like the approach to defense tech where we partner with people.”
Партнёры
Alex Karp
Palantir found that a 'vanilla' Nemotron Ultra model without post-training outperformed Frontier models on five production tasks, challenging the assumption that frontier labs are always best. — This suggests that for specific enterprise tasks, smaller or open-weight models can be superior, potentially reducing the need to rely on frontier labs and shifting value to the orchestration layer (Palantir) and hardware (NVIDIA).
Доказательства
“We built a partnership with NVIDIA. We're expanding our application layer.”
Инвестиции
Инвестиции
Dave Glazer
Palantir's investment in SpaceX is contributing positively to its earnings, though the impact is small.
Доказательства
“Unrealized gains from our holdings in SpaceX resulted in a $0.03 tailwind to GAAP EPS...”
Внешние сигналы
Альфа цепочки поставок · 2с момента звонка
Palantir found that a 'vanilla' Nemotron Ultra model without post-training outperformed Frontier models on five production tasks, challenging the assumption that frontier labs are always best.
Доказательства
“Within 24 hours of bringing Nemotron Ultra into our stacks, we found five production tasks where a standard Nemotron Ultra model without post-training beat Frontier models.”
Palantir's U.S. commercial TCV bookings reached $2.132 billion, nearly $800 million above its prior record, indicating a massive, accelerating demand inflection.
Доказательства
“We close $2.132 billion of U.S. commercial TCV bookings, representing growth of 153% year-over-year and 81% sequentially, nearly $800 million above our prior highest U.S. commercial bookings quarter.”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 3. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.