Palantir Technologies Inc. (PLTR) said Nov. 2 that third-quarter total revenue rose 96% to $2.31 billion from $1.18 billion a year earlier, above the range it forecast in August, as U.S. commercial sales jumped 148%. The software company raised its 2026 revenue forecast to $8.530 billion to $8.534 billion.
Key points
U.S. commercial revenue rose to $984 million and passed U.S. government revenue of $953 million.
Palantir closed 212 deals worth at least $1 million each.
What did Palantir report for the third quarter of 2026?
Revenue in the quarter, which ended Sept. 30, rose 20% from the prior quarter. Palantir had forecast $2.160 billion to $2.164 billion. U.S. revenue rose 119% to $1.94 billion, and U.S. government revenue rose 96%.
Net income attributable to common stockholders rose to $1.13 billion from $476 million. GAAP diluted earnings per share were $0.44, up from $0.18. Adjusted diluted earnings per share, which exclude items including stock-based compensation, were also $0.44.
The adjusted operating margin, which excludes stock-based compensation and related employer payroll taxes, widened to 62% from 51%. Adjusted free cash flow was $1.22 billion.
Chief Executive Alex Karp said in the earnings release, "Our U.S. commercial revenue has surpassed our U.S. government revenue for the first time in our companyโs history."
What does Palantir expect for the fourth quarter and 2026?
Palantir expects fourth-quarter revenue of $2.649 billion to $2.653 billion. The $2.651 billion midpoint would be about 15% above third-quarter revenue.
Its new 2026 revenue range is up from $8.150 billion to $8.158 billion in August. Palantir now expects U.S. commercial revenue of more than $3.559 billion, growth of at least 143%, and adjusted free cash flow of $4.8 billion to $5.0 billion. To see what is coming up for your own stocks, preview earnings for what you own.
Sources: Palantir, third-quarter 2026 earnings release, Nov. 2, 2026; second-quarter 2026 earnings release, Aug. 3, 2026; first-quarter 2026 earnings release, May 4, 2026; fourth-quarter 2025 earnings release, Feb. 2, 2026; and third-quarter 2025 earnings release, Nov. 3, 2025. Fourth-quarter guidance midpoint and its increase over third-quarter revenue calculated by Silvia News.
Silvia News is for information only and is not investment advice.
