$PLTR · Palantir Technologies Inc.
Palantir reported Q3 FY2026 results with revenue of $2.313B (+96% YoY), GAAP EPS of $0.44, and GAAP net income of $1.128B (49% margin). U.S. commercial revenue hit $984M (+148% YoY), surpassing U.S. government revenue for the first time. The company raised FY2026 revenue guidance to $8.530–$8.534B (~91% growth) and U.S. commercial guidance to >$3.559B (+143%).
- Revenue grew 96% YoY to $2.313B, surpassing $2B quarterly for the first time.
- U.S. commercial revenue grew 148% YoY to $984M, exceeding U.S. government revenue for the first time.
- GAAP operating income reached $1.085B with a 47% margin; adjusted operating margin hit 62%.
- Closed 212 deals of at least $1M, 107 deals of at least $5M, and 64 deals of at least $10M.
- FY2026 revenue guidance raised to $8.530–$8.534B, implying ~91% YoY growth; U.S. commercial guidance raised to >$3.559B (+143%).
Extended-hours trading shows shares at $182.94, up +2.58% vs the regular close of $178.34, reflecting initial positive reaction to the massive revenue beat and guidance raise. The $410B market cap means the bar was high, yet 96% revenue growth and 62% adjusted margins delivered.
Palantir's 96% revenue growth at $2.3B quarterly scale with 62% adjusted margins is virtually unprecedented in enterprise software, and the U.S. commercial business surpassing government marks a structural shift in the revenue base.
Palantir's 96% revenue growth and 62% adjusted operating margin set an extreme benchmark in enterprise AI software, far outpacing peers. The U.S. commercial business overtaking government revenue signals the AIP platform is scaling beyond its traditional defense base.
Forward-looking statement caveats highlight long and unpredictable sales cycles, customer termination-for-convenience provisions that could reduce TCV/RDV realization, and macroeconomic/geopolitical risks including tariffs and trade disruptions.