In the second quarter of 2026, Palantir's revenue rose 93% to US$1.935 billion, and US commercial revenue rose 149%. On the other side, as of October 13, 2026 its market capitalization was about US$502 billion, roughly 62 times its 2026 revenue guidance. This article covers the opportunity and the risk behind those two numbers.

You will read about Palantir's business, its latest financial results, valuation, risks and catalysts, and how to follow its price through the PLTR token on Mobee. For other tech and AI stocks, read NVIDIA stock and Microsoft stock.

Key Takeaways

• Palantir reported Q2 2026 revenue of US$1.935 billion (up 93%), with US commercial revenue of US$764 million (up 149%) and US government revenue of US$809 million (up 90%).
• 2026 guidance was raised to revenue of US$8.150 billion to US$8.158 billion (growth of 82%). Q3 guidance is US$2.160 billion to US$2.164 billion.
• The main risks: a very high valuation, a share price that is already up about 60% in three months, and about half of revenue coming from governments.
• The PLTR token on Mobee gives economic exposure to the Palantir share price, not ownership of the share itself.
• This article is for information and education only, not a recommendation to buy or sell.

What Does Palantir Sell?

Palantir Technologies sells data analytics and AI software to governments and companies. Its customers include defense and civilian agencies, as well as private companies that use its AI platform to process internal data. According to the Q2 2026 report:

Source: Palantir Q2 2026 earnings release (August 3, 2026) and Futurum (August 2026). Total US revenue was US$1.573 billion (up 115%). International commercial revenue is not reported separately in the sources we read.

Other measures reported by the company: total contract value (TCV) newly signed of US$3.373 billion (up 49%), with US commercial at US$2.132 billion (up 153%). The number of US commercial customers reached 653, and remaining deal value (RDV) was US$13.1 billion (up 83%) according to Futurum. The company also cites a "Rule of 40" of 155%, a company-defined measure that adds growth and margin.

US government and US commercial customers are about 42% and 39% of this quarter's revenue respectively (our calculation), and government revenue in total is about half (US$990 million). That is a source of growth and also a dependency.

Latest Financial Performance

Source: Palantir, August 3, 2026. Adjusted operating income and adjusted free cash flow are company-defined non-GAAP measures; GAAP net income is the standard accounting figure.

Company guidance (all are estimates, not guarantees):

Valuation and Price Movement

As of the October 13, 2026 close, Palantir stock was around US$208.67 with a market capitalization of about US$502 billion. Over the past 52 weeks the price ranged from US$106.37 to US$212.94, and the stock is up about 60% over the last three months. On Mobee, the PLTR token is around Rp3.59 million as of October 22, 2026.

A market capitalization of US$502 billion divided by 2026 revenue guidance of about US$8.15 billion gives roughly 62 times (our calculation). That means the share price already prices in high growth for several years ahead. If growth slows from guidance, the share price could fall sharply even though the business stays healthy. We give no price target or rating.

Risks and Catalysts

Risks

• A very high valuation. Already high expectations make the price vulnerable to results slightly below expectations.
• A rapid rise. The stock is up about 60% in three months, and the price is about 2% below its 52-week high.
• Dependence on governments. About half of revenue comes from governments. Budget or policy changes could affect growth.
• Stock-based compensation. Stock compensation expense was about US$265.2 million in Q2, about 13.7% of revenue, which can lead to dilution.
• Non-GAAP measures. The 62% margin and the "Rule of 40" of 155% are company-adjusted measures; compare them with GAAP net income too.
• Competition. Cloud and software giants such as Microsoft also offer AI platforms for enterprises.

Catalysts

• Q3 2026 results, expected November 2, 2026 according to the calendar we read (not confirmed by the company).
• Whether Q3 revenue reaches guidance of US$2.160 billion to US$2.164 billion.
• Growth in US commercial customers and new contract value.
• New government contracts, both defense and civilian.

Palantir on Mobee: A Tokenized Stock, Not the Share Itself

On Mobee you can trade the PLTR token, a US tokenized stock issued by Ondo that gives economic exposure to the Palantir share price. As of October 22, 2026, one PLTR token on the PLTR/IDR pair is around Rp3.59 million.

What to understand before buying:

• The PLTR token is not Palantir stock. You do not become a registered shareholder and get no voting rights.
• The token is issued by Ondo with certain issuer terms and restrictions. Read the product terms on Mobee before buying.
• The token price tracks its reference share but can differ slightly, especially when the US market is closed. See what time the US market opens.
• There are issuer, custodian, smart contract, and rupiah-US dollar exchange rate risks, and specific OJK rules for tokenized assets are still developing. Further reading: US tokenized stocks vs regular stocks and RWA regulation, tax, and risks in Indonesia.

Because a high valuation makes this stock sensitive to earnings reports, set your amount and risk limit before November 2 (beginner risk management mistakes).

Frequently Asked Questions

What is Palantir (PLTR) stock?

Palantir Technologies is a US software company that sells data analytics and AI platforms to governments and companies. Its shares are listed on the exchange under the ticker PLTR.

How did Palantir perform financially most recently?

In the second quarter of 2026, Palantir reported revenue of US$1.935 billion (up 93%), US commercial revenue up 149%, and GAAP net income of US$1.062 billion. 2026 revenue guidance was raised to about US$8.15 billion.

What is the biggest risk for Palantir stock?

A very high valuation (about 62 times 2026 revenue guidance by our calculation), a rapid price rise, dependence on government revenue, and stock-based compensation expense.

Is buying the PLTR token on Mobee the same as owning Palantir stock?

No. The PLTR token gives economic exposure to the Palantir share price, but it is not the share itself and carries no shareholder voting rights. The token is issued by Ondo with certain terms and restrictions.

When is Palantir's next earnings report?

Q3 2026 results are expected on November 2, 2026 according to the calendar we read, but this is not confirmed by the company. Check Palantir's investor relations site for the official date.

Conclusion

Palantir shows growth rarely seen at a company this size, and its latest guidance raises expectations. But the share price already reflects those expectations, with little room left to disappoint. Use this article to understand the business and its numbers, not as a reason to buy, and remember that the PLTR token on Mobee is not the share itself.

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Disclaimer

This article is for information and education only. It is not investment, legal, or tax advice, nor an invitation to buy or sell any asset. Crypto assets and tokenized real-world assets are high-risk instruments with large volatility. Token values can rise or fall, and you may get back less than you invest. Do your own research and use only funds whose risk you can afford to bear. Mobee is operated by PT CTXG Indonesia Berkarya, which is licensed and supervised by the Indonesian Financial Services Authority (OJK).