Palantir's 85% Revenue Growth Still Wasn't Enough — Q2 Tests Whether Anything Is

Palantir reports Q2 2026 results after the close August 3, and the bar is punishing. The stock fell 5.7% after Q1's 85% revenue growth — the market now prices in accelerating hypergrowth, not just growth. Management already raised FY 2026 guidance from 61% to 71% year-over-year. Even holding guidance could disappoint. Adjusted operating margin guidance implies roughly 59%.