Palantir Q3 revenue skyrockets 96% to $2.31B
Key points
- Palantir reported third-quarter revenue of $2.313 billion, up 96% year over year, marking its first quarter above $2 billion.
- U.S. commercial revenue increased 148% to $984 million, surpassing U.S. government revenue for the first time.
- GAAP net income reached $1.128 billion, representing a 49% margin, while adjusted free cash flow totalled $1.216 billion.
Palantir Technologies (NASDAQ:PLTR) reported third-quarter 2026 revenue of $2.313 billion, up 96% year over year, as U.S. commercial sales surpassed government revenue for the first time.
U.S. revenue increased 119% to $1.937 billion, including a 148% rise in commercial revenue to $984 million and a 96% increase in government revenue to $953 million.
GAAP operating income reached $1.085 billion, representing a 47% margin, while GAAP net income increased to $1.128 billion, equivalent to a 49% margin, and adjusted free cash flow reached $1.216 billion.
Palantir closed 212 deals worth at least $1 million each and reported total contract value of $2.918 billion, up 6% year over year.
U.S. commercial remaining deal value increased 79% to $6.517 billion, while the company secured $1.463 billion in U.S. commercial contract value, up 11% from the previous year.
Palantir provides data analytics and artificial intelligence software through platforms including Foundry, Gotham and its Artificial Intelligence Platform (AIP), serving government agencies and commercial customers.
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