Palantir US commercial revenue tops government for first time

Palantir reported third quarter revenue of 2.31 billion dollars, up 96 percent year over year, as US commercial revenue rose 148 percent to 984 million dollars and passed US government revenue for the first time, and the company raised its full year guidance.

Why it matters: The crossover marks the point where Palantir's growth engine shifts from government contracts to commercial AI work, and the raised outlook, to 8.53 billion dollars of 2026 revenue, sets the bar for the rest of the AI software earnings season.

Data as of Palantir third quarter 2026 results and outlook, Form 8-K filed November 2, 2026 (accession 0001321655-26-000045), read in full from the filing's Exhibit 99.1 in this run; results and guidance figures are the company's own. The comparison with LSEG consensus estimates is from CNBC, read in full in this run. Developing item.

Palantir Technologies reported third quarter revenue of 2.313 billion dollars, up 96 percent year over year and the first quarter above 2 billion dollars, with US commercial revenue up 148 percent to 984 million dollars, passing US government revenue, up 96 percent to 953 million dollars, for the first time in the company’s history. GAAP net income was 1.128 billion dollars, with GAAP and adjusted earnings per share both at 0.44 dollars, against LSEG consensus estimates of 0.41 dollars on revenue of 2.18 billion dollars, according to CNBC.

The company raised its full year 2026 revenue guidance to between 8.530 billion and 8.534 billion dollars, with US commercial revenue guidance lifted to in excess of 3.559 billion dollars, and guided fourth quarter revenue to between 2.649 billion and 2.653 billion dollars. It closed 212 deals of at least 1 million dollars in the quarter and held 10.4 billion dollars in cash, cash equivalents and US Treasury securities at September 30.

Palantir US commercial revenue tops government for first time

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