Palantir Reports Q3 2026 Results: Revenue Surges 96% YoY to $2.31B, Raises FY26 Guidance
Palantir Technologies Inc.
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Filing Summary
Palantir Technologies Inc. (NYSE/NASDAQ: PLTR) — Form 8-K (Q3 2026 Earnings Release)
• Revenue: $2.313B (+96% YoY, +20% QoQ), surpassing $2B in quarterly revenue for the first time. • U.S. Commercial Growth: Grew 148% YoY to $984M, exceeding U.S. government revenue ($953M) for the first time. • Operating Income: GAAP Income from Operations of $1.085B (47% margin); Adjusted Operating Income of $1.427B (62% margin). • Net Income & EPS: GAAP Net Income of $1.128B; Diluted GAAP EPS of $0.44; Adjusted Diluted EPS of $0.44. • Cash Generation: Operating cash flow of $1.205B (52% margin); Adjusted Free Cash Flow of $1.216B (53% margin). • Full-Year 2026 Guidance Raised: Revenue raised to $8.530B–$8.534B; U.S. Commercial revenue expected to exceed $3.559B (≥143% growth).
Comprehensive Analysis
Executive Summary
On November 2, 2026, Palantir Technologies Inc. filed a Current Report on Form 8-K under Items 2.02 and 7.01, reporting financial results for the third quarter ended September 30, 2026. The company delivered exceptional operational results driven by accelerating adoption of its Artificial Intelligence Platform (AIP) and Sovereign AI initiatives, achieving a historic milestone where U.S. commercial revenue surpassed U.S. government revenue.
Key Financial Highlights (Q3 2026)
- Consolidated Revenue: Reached $2.313 billion, up 96% year-over-year and 20% quarter-over-quarter, crossing the $2 billion quarterly threshold for the first time.
- U.S. Business Performance:
- Aggregate U.S. revenue expanded 119% YoY to $1.937 billion.
- U.S. commercial revenue increased 148% YoY and 29% QoQ to $984 million.
- U.S. government revenue grew 96% YoY and 18% QoQ to $953 million.
- Profitability & Margins:
- GAAP Operating Income was $1.085 billion (47% operating margin).
- Adjusted Operating Income totaled $1.427 billion (62% operating margin).
- GAAP Net Income attributable to common stockholders stood at $1.128 billion (49% net margin).
- Rule of 40 score reached 158%.
- Cash Flow & Balance Sheet:
- Cash from operations reached $1.205 billion (52% margin).
- Adjusted Free Cash Flow came in at $1.216 billion (53% margin).
- Total cash, cash equivalents, and U.S. Treasury securities stood at $10.4 billion.
- Deal Activity: Closed Total Contract Value (TCV) of $2.918 billion, including 212 deals of at least $1 million and 64 deals of at least $10 million. U.S. commercial Remaining Deal Value (RDV) expanded 79% YoY to $6.517 billion.
Guidance & Outlook
- Q4 2026 Outlook: Revenue anticipated between $2.649 billion and $2.653 billion; adjusted operating income anticipated between $1.640 billion and $1.644 billion.
- Full Year 2026 Guidance (Raised):
- Revenue guidance increased to $8.530 billion–$8.534 billion (approx. 91% YoY growth).
- U.S. commercial revenue guidance raised to >$3.559 billion (growth of at least 143% YoY).
- Adjusted operating income guidance lifted to $5.245 billion–$5.249 billion.
- Adjusted free cash flow guidance raised to $4.8 billion–$5.0 billion.
Market & Trading Significance
This release carries high trading significance given substantial beats and significant guidance revisions across core top-line and cash flow metrics, highlighting continued hyper-growth in commercial enterprise AI monetization.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.