Palantir's Revenue Rises 96% to $2.3 Billion as Investors' Patience Rests on a Hair Trigger
Palantir Technologies said Monday that third quarter revenue rose 96% year over year to $2.3 billion, surpassing last year’s 63% growth and $1.2 billion in revenue. Chief financial officer David Glazer called it the “highest-ever” reported year-over-year growth rate as well as the highest ever sequential revenue growth rate of 20%. Moreover, quarterly revenue crossed the $2 billion milestone marker for the first time.
TL;DR
- Palantir's third-quarter revenue surged 96% year over year to $2.3 billion, surpassing last year's growth and exceeding analyst expectations.
- The company achieved its highest-ever reported year-over-year growth rate and the highest sequential revenue growth rate of 20%.
- U.S. commercial revenue grew 148% to $984 million, surpassing U.S. government revenue for the first time.
- Palantir raised its full-year revenue forecast to approximately 91% growth and increased its fiscal year 2026 revenue guidance.
- Investor reaction was mixed, with shares showing initial gains followed by a decline after the financial results were released.