Palantir Q3 Revenue Hits $2.3B, Up 96%, as US Commercial Overtakes Government Business
shashib · x · 2026-11-06
Palantir reported $2.3B in Q3 revenue, up 96% year-over-year, with CEO Alex Karp noting the business has "essentially doubled" since last year, driven by "ravenous" demand for sovereign AI.
- 212 deals of at least $1M closed in the quarter
- US commercial revenue reached $984M (vs $397M a year ago), surpassing US government revenue ($953M) for the first time
- 47% GAAP operating margin
The concern: AI contracts are getting shorter—buyers want proof before committing. Whether Karp can convert rapid growth into long-term customer commitments is the real test ahead.
Related event: Palantir Q3 Revenue Soars 96% as US Commercial Tops Government(2 posts)→
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