Palantir nearly doubles revenue in Q3 2026 as U.S. commercial tops government

Palantir Technologies reported its third-quarter 2026 results on November 2, 2026, for the period ended September 30. Revenue reached $2.313 billion, up 96% year over year and 20% sequentially — the company's first quarter above $2 billion.

The most significant milestone was the shift in the U.S. revenue mix. U.S. commercial revenue rose 148% year over year to $984 million, surpassing U.S. government revenue for the first time; government revenue grew 96% to $953 million. Total U.S. revenue rose 119% to $1.937 billion.

Net income attributable to common stockholders was $1.128 billion, more than double the roughly $476 million reported a year earlier. Adjusted earnings per share were $0.44, above the $0.41 consensus, just as revenue beat the $2.18 billion consensus. Adjusted operating income was $1.427 billion, a 62% margin.

In a shareholder letter, CEO Alex Karp described the pace of expansion as unmatched in recent software AI history — a company statement, not an independent market measurement. The cautious note is on the other side of the report: total contract value signed in the quarter was $2.92 billion, up only 6% year over year, well below the pace of recognized revenue.

Looking ahead, Palantir raised its guidance: it expects revenue of $2.649 billion to $2.653 billion in the fourth quarter of 2026 and $8.530 billion to $8.534 billion for the full year, implying about 91% growth. U.S. commercial revenue for 2026 is expected to exceed $3.559 billion, growth of at least 143%. These are company projections, subject to risks and contract closings.

Image credit: Palantir Technologies logo, via Reuters-Yonhap / Seoul Economic Daily.

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Transparency: this article was produced with the assistance of artificial intelligence, based on cross-checking public posts and the internet sources cited below. Readers are advised to consult the original sources to confirm the data.

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