Alex Karp’s company is having its cake and beating Wall Street’s estimates, too. Palantir posted Q1 revenue of $1.63B, up 85% and its fastest growth since the 2020 direct listing. Net income nearly quadrupled to $870.5M, with CEO Karp saying the business is “erupting” as US government and commercial demand for its AI software accelerates.
- US government revenue climbed 84% to $687M, accelerating from 66% growth in Q4 2025, anchored by military and defense AI contracts.
- US commercial revenue surged 133% to $595M, with new deals from Airbus, Bain, General Electric Aerospace, and Stellantis boosting the pipeline.
Copycats and catalysts: Karp told CNBC the US business could double again by 2027, alongside a raised full-year revenue outlook pointing to 71% YoY growth. That momentum is starting to influence the broader AI playbook, with OpenAI and Anthropic moving to adopt its “forward-deployed engineer” approach. Even with the stock down 18% year to date on broader AI software concerns, Karp maintains Palantir is a “juggernaut” producing tangible results.
