# Palantir earned $1bn and booked $15m of tax — it still carries $9bn of tax losses

![Palantir earned $1bn and booked $15m of tax — it still carries $9bn of tax losses](https://aiswingx.com/static/covers/pltr-2026q2_cover.jpg?v=1790004545)

**Q2 10-Q: $1.08bn of pre-tax income taxed at 1.4%. The reason sits in one table of the 10-K's tax note — and one sentence the company added to Note 10 could change reported net income from here**

Palantir Technologies (PLTR) reported $1.08bn of pre-tax income for the second quarter of 2026 and a $15.4m income-tax provision — an effective rate of 1.4%. The 10-Q filed August 4 and the 10-K filed in February explain why, and what it could mean for reported net income from here.

- 종목: PLTR (Palantir Technologies)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-21 15:24 UTC · 업데이트: 2026-09-21 17:05 UTC
- 원문: https://aiswingx.com/p/pltr-2026q2

## 숫자 하나
Q2 2026 pre-tax income $1,081m, tax provision $15.4m → 1.4% effective rate. Federal NOLs about $9.0bn (Dec 31, 2025); valuation allowance on deferred tax assets $3,452m.

## 비유 하나
(구독자 전용)

## 출처 하나
Palantir Technologies Form 10-Q for Q2 2026 (filed 2026-08-04): statement of operations, Note 10 'Income Taxes'; Form 10-K for FY2025 (filed 2026-02-17): Income Taxes note (deferred tax table, NOL paragraph)

## 다음 분기에 볼 것
(구독자 전용)

---

## What happened

Palantir Technologies (PLTR) sells data-analysis software to governments and companies and has ranked among the most widely held U.S. stocks by Korean retail investors for several years.

The 10-Q it filed on August 4 shows second-quarter revenue of **$1,935m**, up 93% from a year earlier, and pre-tax income of **$1,081m**. The income-tax provision was **$15.4m** — **1.4%** of pre-tax income. At the 21% U.S. federal statutory rate the charge would have been $227m. For the first half the figures are $1,970m of pre-tax income and $27.6m of tax, again 1.4%.

The reason is in one paragraph of Note 10 and in the tax note of the 10-K. Why book profit and taxable profit differ so much, and when and how that difference comes back into net income, is the rest of this article.

---

(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

## 수정 이력
- 2026-09-21 15:39 UTC — Reworked the free preview — lead and subhead now stop at the event and the key figure; interpretive paragraphs, the analogy and watch-next lines and interpretive FAQ answers moved to the subscriber section. No figures or sources changed.

## 관련 뉴스
- [Wall Street Just Gave Palantir Its Highest-Ever Price Target, Right When Europe Started Saying No](https://news.google.com/rss/articles/CBMivwFBVV95cUxOSGRyUFpYUE5LSUNRb2xJbUZWdGZ4ZE5qSXUyekJJVW9QTUtJR3BkNktQVnJkVzBzZVN6QkxZNkdkYkI1ek9RaDJYSHIxcmFLYWo3NDJ4d2NFQkEtTzZZUG1CdTFXREVhOFNiUV9ianVGbjhoOVNZTjVVWmtzWkNxUE8tZzF2R0Y3dWRnM3g3SzlzWmJvRFBzTWtVMFNnY2U2VXVtbm9zaENscFpRYVVBZ2V4VmZpVWF6akNnYWY1NA?oc=5) — TIKR.com
- [Prediction: This Will Be Palantir’s Stock Price in a Year (Hint: It Implies Upside)](https://news.google.com/rss/articles/CBMijwFBVV95cUxQNHJiWFc0NkxYUEdHQ3BUeGpkSWFkamxRQUx6N3NVTlpMSnBleDZaaE0zTmlOZUR6YjBHR3N0UllCOGpFcWd6QmFnTFJ2Yk9zdk1acWVWVTUyVjlONGQ4ZmZacm5NWDNNYzdMYXJYUmxKbUNuS18zbVU5OVhqbWhWRnNpQy1KSEhjT1dSSmV3WQ?oc=5) — The Motley Fool
- [Cathie Wood Sells Tech Favorites Palantir and AMD; Buys Archer Aviation Stock for ARK Innovation ETF](https://news.google.com/rss/articles/CBMiyAFBVV95cUxPbU5QaUV1VkpPMl9Ldk9HSmhsbXktaElqb2tnVUVhczk5Umc2cXBObWxwSEZjT05Sb1dqbWhmV3l3ejhCYkZiVG5ZeTgyYkJFbmZUNkJKSjZMUjl6VXVqaE1FSEFZX1V5aEJpdDY0aGY5d0hhS2xIYUh3WE9vaXFYRDdmZU1fUXdiN2lKM05qLWFzMTctMTVjbndHV05ZX0RaMm5JSHdWTFZXUk80STRCZlpDUkhvNHdDR1lZRlowSF9QTlh1WkRnaw?oc=5) — TipRanks

## FAQ

**Q. Where does the 1.4% come from?**

The 10-Q statement of operations: income before provision for income taxes of $1,081.3m and a provision of $15.4m. For the first half the figures are $1,970.0m and $27.6m — also 1.4%.

**Q. Is paying almost no tax a problem?**

No. The company is using losses accumulated in earlier years under current tax law, and both the 10-K and 10-Q disclose it. This article explains how that structure affects reported net income.

**Q. What happens when the valuation allowance is released?**

It is a major accounting event. How net income and the reported tax rate move, and by how much, is explained with the 10-K figures in the subscriber section of this article ('Why it matters').

**Q. Where can I verify these numbers?**

On SEC EDGAR: Palantir's Q2 2026 Form 10-Q (accession 0001321655-26-000041), statement of operations and Note 10; and the FY2025 Form 10-K (accession 0001321655-26-000011), Income Taxes note — deferred tax table and NOL paragraph.