Palantir said on Monday, Nov. 2, that third-quarter revenue rose 96% from a year earlier to $2.313 billion and raised its 2026 revenue guidance to between $8.530 billion and $8.534 billion, according to its earnings release, which it also filed with the SEC as Exhibit 99.1 to a Form 8-K. Palantir labeled the quarterly financial summary unaudited, and the figures below come from the release unless another source is named. The company said quarterly revenue passed $2 billion for the first time.
Palantir said U.S. commercial revenue grew 148% to $984 million and surpassed U.S. government revenue, which grew 96% to $953 million, for the first time. U.S. revenue overall grew 119% to $1.937 billion.
The release reported GAAP income from operations of $1.085 billion, a 47% margin, and adjusted income from operations of $1.427 billion, a 62% margin. Net income attributable to common stockholders was $1.128 billion, compared with $475.6 million a year earlier. Both GAAP and adjusted diluted earnings per share were 44 cents. Adjusted free cash flow was $1.216 billion, and cash, cash equivalents and U.S. Treasury securities totaled $10.4 billion.
Palantir said it closed total contract value of $2.918 billion, up 6%, and that U.S. commercial remaining deal value was $6.517 billion, up 79%. It closed 212 deals of at least $1 million and 64 of at least $10 million.
CNBC reported that adjusted earnings of 44 cents compared with 41 cents expected and revenue of $2.31 billion compared with $2.18 billion expected, in a comparison with LSEG estimates.
For the fourth quarter, Palantir guided to revenue of $2.649 billion to $2.653 billion and adjusted income from operations of $1.640 billion to $1.644 billion. Reuters said the revenue range is above the $2.46 billion analyst average compiled by LSEG.
For 2026, Palantir said it expects U.S. commercial revenue in excess of $3.559 billion, a growth rate of at least 143%, adjusted income from operations of $5.245 billion to $5.249 billion, and adjusted free cash flow of $4.8 billion to $5.0 billion. It said it continues to expect GAAP operating income and net income in each quarter of the year. Reuters said the new revenue range compares with a prior range of $8.150 billion to $8.158 billion.
“We have now essentially doubled our entire business since the same quarter last year,” CEO Alex Karp said in his letter to shareholders.
Related coverage: Palantir, Nvidia and Booz Allen were restricting or threatening to curb use of Anthropic and OpenAI frontier models, Reuters reported in September.
Sources
- Palantir Investor Relations: 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 (November 2, 2026; read in full)
- SEC EDGAR: Palantir Form 8-K, Exhibit 99.1 press release, filed November 2, 2026 (accession 0001321655-26-000045; figures cross-checked)
- Palantir: Q3 2026 Letter to Shareholders, Alex Karp (November 2, 2026; read in full)
- Reuters via CNA: Palantir expects quarterly revenue above estimates on AI demand (November 2, 2026; read in full)
- CNBC, Samantha Subin: Palantir reports booming U.S. commercial revenue growth, topping government for first time (November 2, 2026, 4:09 PM ET; read in full)
- AI Tech Daily: Palantir, Nvidia, and Booz curb Anthropic and OpenAI frontier models