Palantir Q3 revenue jumps 96% to $2.313 billion, US commercial overtakes government

Palantir reported third-quarter 2026 revenue of $2.313 billion on November 2, 2026, up 96% year over year and above the $2.18 billion market estimate, according to digitaltoday.co.kr. Adjusted earnings per share came in at 44 cents, beating the 41-cent estimate.

US commercial revenue reached $984 million, up 148% year over year, exceeding US government revenue of $953 million for the first time in the company's history. US government revenue rose 96%. Net income was $1.128 billion, a 49% net margin.

The company signed 212 deals worth more than $1 million in the quarter, 64 of them above $10 million. Total contract value was $2.918 billion, up 6% year over year, while US commercial remaining deal value reached $6.517 billion, up 79%.

Adjusted operating income was $1.427 billion at a 62% operating margin, and adjusted free cash flow was $1.216 billion. Palantir raised its full-year US commercial revenue outlook to above $3.56 billion from $3.42 billion previously. It guided fourth-quarter revenue at about $2.65 billion and full-year 2026 revenue at about $8.53 billion.

Shares rose more than 1% in after-hours trading following the results. In the prior quarter, Palantir had guided US commercial revenue to $3.42 billion, and US commercial revenue has more than quintupled over the past two years.