Palantir Technologies reported financial results that surpassed Wall Street expectations in the third quarter, marking a significant shift in the company’s revenue composition. The data analytics firm disclosed that U.S. commercial revenue exceeded government revenue for the first time, underscoring growing adoption of its artificial intelligence tools across the business sector. The company’s stock declined approximately 3% in extended trading following the announcement.
The company achieved revenue growth that nearly doubled compared to the prior year, reaching over $2 billion for the first time in its history. Net income more than doubled to $1.13 billion, equivalent to 44 cents per share, compared with approximately $476 million or 18 cents per share in the same period last year. U.S. commercial revenue increased 148% to $984 million, while U.S. government revenue rose 96% to $953 million. Over the preceding two years, U.S. commercial revenue has increased more than fivefold.
Palantir adjusted its full-year guidance upward, projecting U.S. commercial revenue in excess of $3.56 billion for 2026, an increase from the previous forecast of $3.42 billion issued in the prior quarter. The company anticipates approximately $2.65 billion in revenue for the fourth quarter and roughly $8.53 billion in revenue for the full year. CEO Alex Karp characterized the company’s performance trajectory as exceptional, stating the business has achieved consistent results without employing traditional sales personnel.
Karp has been vocal regarding artificial intelligence policy matters, advocating for open-weight AI models and expressing concerns about data sovereignty. He reiterated calls for nationalizing AI laboratories, describing it as the most realistic approach to managing liability. The CEO also referenced recent meetings at the White House and emphasized the immediacy of AI’s societal and political implications.
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