Key facts
- Palantir forecast fourth-quarter revenue of $2.649 billion to $2.653 billion, above the $2.46 billion analysts' average estimate.
- Third-quarter revenue rose about 96% year-over-year to $2.31 billion, Palantir reported.
- US commercial revenue surpassed government revenue for the first time in the third quarter, Palantir said.
- US commercial total contract value growth slowed to 11% year-over-year in the third quarter from more than 153% in the prior quarter, according to the report.
- Palantir shares fell nearly 3% in extended trading after the report.
Palantir Technologies forecast fourth-quarter revenue of $2.649 billion to $2.653 billion, above the $2.46 billion average estimate from analysts, after third-quarter revenue rose about 96% to $2.31 billion. The company reported the results on Monday, November 2, 2026.
Revenue from commercial clients surpassed government revenue in the US for the first time in the third quarter, which Palantir attributed to rapid adoption of AI software. US commercial total contract value growth slowed to 11% year-over-year in the third quarter, down from more than 153% in the previous quarter, according to the report.
Palantir raised its annual revenue expectations to between $8.530 billion and $8.534 billion. CEO Alex Karp said in a letter to shareholders that the company has essentially doubled its entire business since the same quarter last year.
Shares fell nearly 3% in extended trading. The forecast and the analysts' average estimate were carried in the primary report and were not independently corroborated.