In Q1'26, Palantir Technologies (PLTR) reported operating cash flow of $899M USD and free cash flow of $892M USD, marking a robust quarter with both metrics reaching new highs in the observed period. This latest data point reflects sustained operational efficiency, as free cash flow closely tracks operating cash flow, indicating minimal capital expenditure drag. Over the period from Q2'23 to Q1'26, both operating and free cash flows exhibit a strong upward trend, growing from $90M and $86M respectively in Q2'23 to the current peaks, with an overall compound annual growth rate exceeding 100%. Key inflection points include a surge in Q4'23 to over $300M, followed by consistent acceleration in 2024 and 2025, particularly in Q3'24 ($420M operating) and Q4'25 ($777M operating), underscoring improving profitability and scalability in PLTR's core operations despite minor quarterly fluctuations.