Palantir revenue rises 96% as it raises annual forecast
The software company posted $2.3 billion in third-quarter revenue and raised its 2026 forecast to $8.53–$8.534 billion, from a previous upper bound of $8.2 billion.
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The software company posted $2.3 billion in third-quarter revenue and raised its 2026 forecast to $8.53–$8.534 billion, from a previous upper bound of $8.2 billion.
Palantir’s third-quarter 2026 revenue rose 96% from a year earlier to $2.313 billion, up from about $1.2 billion. Net income more than doubled to $1.128 billion from $476 million.
The US company makes software that combines and analyzes data for customers including government agencies and private businesses. Its quarterly revenue passed $2 billion for the first time.
Palantir’s US commercial total contract value was $1.46 billion in the third quarter, down from the preceding quarter, TechCrunch reported. CEO Alex Karp told analysts that customer interactions and deployments were getting faster and contracts were shorter, but could subsequently expand dramatically.
US commercial revenue exceeded US government revenue for the first time. Both grew sharply from a year earlier:
| Customer group | 2026 revenue | Year-earlier revenue | Year-over-year growth |
|---|---|---|---|
| Commercial | $984 million | $397 million | 148% |
| Government | $953 million | $486 million |
The website company says the restructuring is intended to simplify its operations and sharpen its priorities as it prepares for its next phase of growth.
| 96% |
Growth in US commercial total contract value—the potential lifetime value of signed contracts—slowed to 11% year over year from more than 153% in the previous quarter. The value reached about $1.5 billion; total contract value rose 6% to $2.918 billion.
Palantir said it signed multiple eight-figure deals that were shorter than usual as customers adopted initial sovereign superintelligence (SI) capabilities. The company said these capabilities let businesses retain control over their data and how SI is deployed and used.
Palantir co-founder and CEO Alex Karp argued in the earnings release that what he called the “Sovereign AI movement” was creating the starkest divide between haves and have-nots he had seen in 30 years in business.
Chief Financial Officer David Glazer said the year-over-year revenue growth rate and the 20% increase from the previous quarter were both Palantir’s highest ever. Analysts had expected $2.18 billion in revenue and 41 cents in adjusted earnings per share; Palantir’s own revenue forecast was roughly $2.16 billion–$2.164 billion.
| Measure | Third quarter 2026 | Third quarter 2025 |
|---|---|---|
| Adjusted | 44 cents | 21 cents |
| Under generally accepted accounting principles | 44 cents | 18 cents |
In after-hours trading, shares initially rose about 1.5% immediately after the figures were published before falling 3.6%, Fortune said on 2 November.
Fortune described Palantir as a bellwether for public-market confidence that SI software can generate revenue growth. The Nasdaq Composite fell more than 1% on Monday and was down 4% over the previous five days.
Palantir raised its full-year 2026 revenue forecast from $8.150 billion–$8.158 billion to $8.530 billion–$8.534 billion, implying roughly 91% annual growth.
For the fourth quarter, the company forecast revenue of $2.649 billion–$2.653 billion, above analysts’ average estimate of $2.46 billion. Fortune said the forecast implied about 88% annual growth at the midpoint.
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