Palantir's US commercial revenue tops US government revenue for the first time as Q3 sales rise 96%
Revenue was $2.313 billion; US commercial revenue grew 148% to $984 million against $953 million from the US government, and Palantir raised its full-year guidance.
Why it matters
Palantir built its business on government contracts, so a quarter in which US companies pay it more than the US government is a clear marker of enterprise demand for its AI platform. Chief executive Alex Karp tied the growth to what he calls the Sovereign AI movement and to AIP running fine-tuned open-weight models. The results land in a week when investors are questioning AI spending elsewhere. Watch whether the raised guidance holds and whether US commercial stays ahead of government next quarter.
Key facts
- Revenue $2.313 billion, up 96% year over year
- US commercial revenue $984 million, up 148%
- US government revenue $953 million, up 96%
- Quarterly revenue passed $2 billion for the first time
- 212 deals of at least $1 million closed
- Full-year 2026 revenue guided to about $8.53 billion (CNBC)