Earnings Releases·Nov 2, 2026, 4:06 PM ET

Palantir Technologies Inc. — Q3 2026 Earnings Summary

Total revenue grew 96% year-over-year and 20% quarter-over-quarter to $2.313 billion, with U.S. commercial revenue surpassing U.S. government revenue for the first time; GAAP net income was $1.128 billion (49% margin) and adjusted free cash flow was $1.216 billion (53% margin).
Guidance was raised across all metrics, including Q4 2026 revenue ($2.649B–$2.653B) and full-year 2026 revenue ($8.530B–$8.534B), with full-year adjusted free cash flow guidance increased to $4.8B–$5.0B.
The company closed 212 deals of at least $1 million with total contract value of $2.918 billion, while U.S. commercial remaining deal value surged 79% year-over-year to $6.517 billion.
Management highlighted the "Sovereign AI movement" as a primary growth driver, noting that every government and commercial institution is rapidly being forced into adoption categories, creating a strategic dichotomy between adopters and non-adopters.