Palantir reports 96% revenue growth and raises 2026 guidance

Palantir reported third-quarter 2026 revenue of $2.313 billion, up 96% from a year earlier and 20% from the prior quarter, in results furnished with the U.S. Securities and Exchange Commission on November 2. The quarter ended September 30.

The company raised its full-year revenue forecast to $8.530 billion-$8.534 billion, from $8.150 billion-$8.158 billion in its second-quarter business update. It also increased its 2026 U.S. commercial revenue outlook to more than $3.559 billion, or growth of at least 143%, from more than $3.424 billion and at least 134%.

U.S. commercial revenue reached $984 million, up 148% year over year and 29% sequentially. U.S. government revenue was $953 million, up 96% from a year earlier and 18% from the prior quarter. Palantir said U.S. commercial revenue exceeded U.S. government revenue for the first time in its history.

Palantir expects fourth-quarter revenue of $2.649 billion-$2.653 billion. At the $2.651 billion midpoint, revenue would be about 14.6% above the third-quarter result, a slower sequential pace than the 20% reported for the third quarter. The guidance does not establish weaker demand for Palantir’s AI products, and the company does not disclose how much of its growth came specifically from those products.

Palantir reported GAAP operating income of $1.085 billion, equal to a 47% margin, and GAAP net income attributable to common stockholders of $1.128 billion. Adjusted free cash flow was $1.216 billion, a 53% margin. The company identifies its outlook as forward-looking and cautions that actual results may differ materially.