Palantir Q3 revenue surges 96% year-over-year, beating expectations; US commercial revenue exceeds government revenue for the first time

November 3 — Palantir announced its third-quarter 2026 results, with revenue of $2.313 billion, up 96% year-over-year, beating the market estimate of $2.17 billion. Adjusted earnings per share were $0.44, above the estimate of $0.40. Operating income was $1.08 billion, with an adjusted operating margin of 62%.

U.S. market revenue grew 119% year-over-year and 23% quarter-over-quarter to $1.937 billion. Of that, U.S. commercial revenue grew 148% year-over-year and 29% quarter-over-quarter to $984 million, surpassing U.S. government revenue for the first time. U.S. government revenue grew 96% year-over-year and 18% quarter-over-quarter to $953 million. The company expects fourth-quarter revenue of $2.649 billion to $2.653 billion and raised its full-year revenue outlook to $8.53 billion to $8.534 billion, up from $8.15 billion to $8.16 billion. Full-year U.S. commercial revenue is now expected to exceed $3.559 billion, with growth of at least 143%.