Q4 2025 Earnings — Results of Operations, Reg FD Disclosure

U.S. commercial revenue surged 137% year-over-year in Q4 2025 to $507 million, fueling a record $4.26 billion in total contract value closed during the quarter, while full-year 2026 revenue guidance of $7.2 billion (61% growth) and U.S. commercial revenue guidance of 115%+ growth dramatically exceed Wall Street expectations. The combination of accelerating AI-driven demand, a Rule of 40 score of 127%, and $2.3 billion in annual adjusted free cash flow signals Palantir is pulling away from peers and entering a phase of compounding, high-margin hypergrowth.