Palantir stock gains on revenue growth and recurring deals

Palantir Technologies Inc. (US69608A1088) remains a market story because its latest reported numbers combine growth, profitability, and recurring demand. The company reported $2.87 billion in revenue for fiscal 2025, up from $2.23 billion in fiscal 2024, while adjusted operating income and free cash flow continued to move higher over the same period.

Revenue crosses $2.8 billion

For fiscal 2025, Palantir reported revenue of $2.87 billion, compared with $2.23 billion in fiscal 2024, a year-over-year increase of about 28.7%. That scale-up matters because the top line is still the clearest proof that its software is moving beyond a narrow customer base.

The same report showed adjusted operating income and free cash flow improving alongside revenue, which is a more useful signal than headline growth alone. Investors usually focus on whether expansion is being converted into cash, not just bookings rhetoric.

Margins and cash matter

Palantir’s fiscal 2025 results also showed that the company is still balancing growth with profitability. Revenue of $2.87 billion and the rise in adjusted operating income indicate that the model is becoming more efficient, while free cash flow remained a central metric in the latest reporting cycle.

That combination is the key comparison: revenue rose 28.7% year over year, while profitability metrics also improved in the same period. The market tends to reward that pairing more than growth alone, especially for a company with a premium valuation profile.

Software demand still defines the case

The product side remains anchored in Palantir’s core platforms for government and commercial users, which are the company’s main growth engines. The latest fiscal 2025 revenue figure of $2.87 billion shows that those platforms are still generating material demand at scale.

That also helps frame the operating comparison against fiscal 2024, when revenue was $2.23 billion. The gap between those two years is large enough to keep Palantir in the discussion even when the market is more selective about software multiples.

Valuation stays tied to execution

Palantir stock closed the latest reporting cycle with valuation scrutiny still tied to execution rather than narrative. Revenue growth of 28.7% in fiscal 2025, plus improving adjusted operating income and free cash flow, gives the market the numbers it needs to judge progress.

Palantir Technologies Inc. trades on Nasdaq under PLTR, and the company’s future reporting will likely be measured against the same mix of growth and cash conversion. For investors, the next read-through will be whether the company can keep scaling revenue without losing that efficiency trend.