Palantir Q3 revenue up 96%, enterprise contracts get shorter
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Palantir reported its Q3 2026 financial results, with revenue up 96% year over year to $2.31 billion, surpassing $2 billion for the first time. US commercial revenue was $984 million, exceeding US government revenue of $953 million for the first time. However, the total value of US enterprise contracts in the quarter was $1.46 billion, below the record $2.13 billion in the previous quarter. CEO Alex Karp said enterprise customers are signing faster, with shorter contract terms, and are also more willing to cancel contracts. The company still raised its full-year US commercial revenue guidance to more than $3.559 billion, corresponding to growth of at least 143%.
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Palantir reported third-quarter revenue of $2.31 billion, up 96% year over year and above analysts' $2.18 billion expectation, with adjusted earnings per share of $0.44 versus $0.41 expected, and U.S. commercial revenue surpassed U.S. government revenue for the first time. However, U.S. enterprise total contract value fell to $1.46 billion from a record $2.13 billion the prior quarter, and CEO Alex Karp said enterprises are signing shorter-duration contracts that Palantir aims to expand later. Palantir raised its full-year U.S. commercial revenue guidance to more than $3.559 billion, at least 143% growth.
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