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Palantir Reports Q3 2026 U.S. Comm Revenue Growth of 148% Y/Y and Revenue Growth of 96% Y/Y; Raises FY 2026 Revenue Guidance to 91% Y/Y Growth and U.S. Comm Revenue Guidance to 143% Y/Y, Crushing Cons
Business Wire • • business
Key Points:
- Palantir Technologies reported a 96% year-over-year revenue increase for Q3 2026, reaching $2.313 billion, with U.S. commercial revenue surpassing U.S. government revenue for the first time in company history.
- U.S. commercial revenue grew 148% year-over-year to $984 million, while U.S. government revenue increased 96% to $953 million; total contract value closed was $2.918 billion, up 6% year-over-year.
- The company achieved GAAP net income of $1.128 billion (49% margin) and adjusted income from operations of $1.427 billion (62% margin), with cash and equivalents totaling $10.4 billion.
- Palantir raised its full-year 2026 guidance, expecting revenue between $8.530 and $8.534 billion, U.S. commercial revenue growth of at least 143%, and adjusted free cash flow between $4.8 and $5.0 billion.
- CEO Alex Karp highlighted the "Sovereign AI movement" as a key driver of Palantir's growth, emphasizing the company's AI platform and product suite as central to its transformational value and market positioning.
