Equities

Palantir now brings in more revenue from US companies than from the US government

U.S. commercial revenue jumped 148% to $984 million, topping U.S. government revenue for the first time, and Palantir raised its full-year outlook.

By Marcus Rodriguez · Nov 2, 2026, 11:40 PM EST

Why it matters: Palantir's U.S. growth now leans on corporate customers as much as on the U.S. government, and it raised its full-year revenue and U.S. commercial forecasts.

For information only, not investment advice. Prices delayed.

Tickers: PLTR

Palantir ($PLTR) now brings in more revenue from American companies than from the American government. U.S. commercial revenue grew 148% from a year earlier to $984 million in the third quarter, passing U.S. government revenue of $953 million for the first time, the company said Monday.

That's a big change for a company long known for its government work. Government revenue didn't stall, either: it grew 96%. And according to CNBC, Palantir's U.S. commercial revenue has more than quintupled over the past two years.

Total revenue rose 96% to $2.313 billion, the first quarter above $2 billion. Net income more than doubled to $1.13 billion, or 44 cents a share, from about $476 million a year earlier, CNBC reported.

Palantir raised its full-year revenue forecast to between $8.530 billion and $8.534 billion and now expects U.S. commercial revenue above $3.559 billion, growth of at least 143%. Three months ago, it had forecast $3.42 billion. It expects fourth-quarter revenue of $2.649 billion to $2.653 billion.

Palantir's boss didn't undersell it. "I don't believe anyone's had consistent results like this in the history of software AI, ever," CEO Alex Karp told CNBC's Seema Mody in an interview. Karp added that the business is succeeding without salespeople.

Tags: earnings · guidance · ai