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Palantir Technologies said Monday that third quarter revenue rose 96% year over year to $2.3 billion, surpassing last year\u2019s 63% growth and $1.2 billion in revenue. Chief financial officer David Glazer called it the \u201chighest-ever\u201d 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. <\/p>\n
It raised its full-year revenue forecast to between $8.53 billion and $8.534 billion, roughly 91% growth, from as high as $8.2 billion a quarter ago.\u00a0However, investors didn\u2019t seem swayed immediately. In after-hours trading shares began to climb, rising about 1.5% immediately after the figures were published, before dropping 3.6%.<\/p>\n
In the third quarter, Palantir reported adjusted and GAAP earnings per share of 44 cents. That compares to third quarter 2025, when adjusted EPS was 21 cents and GAAP EPS was 18 cents.\u00a0Analysts were expecting revenue of $2.18 billion and adjusted earnings of 41 cents per share.<\/p>\n
In his quarterly letter to investors, CEO Alex Karp touted the firm\u2019s results, writing \u201cit would be an understatement\u201d to say Palantir\u2019s results in Q3 \u201cwere extraordinary.\u201d He said the company\u2019s growth rate of 96% was \u201cabsolutely striking.\u201d Palantir had guided revenue to roughly $2.16 billion to $2.164 billion.<\/p>\n
Palantir\u2019s quarterly results came after last week\u2019s bloodbath in certain tech stocks, and served as something of a temperature read on the AI trade. Karp made no bones about the change he sees on the horizon and how it could demolish certain sectors.<\/p>\n
\u201cEvery industry in the world\u2014from banks to insurers to hospitals and even once-storied law firms\u2014will either be remade or set briskly aside,\u201d wrote Karp. He continued his aggressive optimism about the company he helped found in 2003 with investor Peter Thiel and others as the quarterly call with analysts got underway.<\/p>\n
Karp said Palantir\u2019s quarterly earnings calls have grown beyond its financial results to serve as \u201cthe focal point of tech, society, and general trends.\u201d He said Palantir\u2019s earnings calls, streamed on YouTube, are \u201cby far the most-watched earnings calls in the world.\u201d<\/p>\n
The software maker has become a bellwether for public market confidence in AI software converting into revenue growth. Its latest financials come days after Alphabet suffered its worst one-day drop on record in its 22-year history as a public company. Disappointing reception to Amazon and Intel last week deepened concerns that relentless spending on AI\u2014which is approaching $2 trillion in two years, according to S&P Global research\u2014is sprinting well ahead of returns for investors. Google parent Alphabet lost $505 billion in market value since it published third-quarter figures last week and Intel\u2019s stock dropped about 29% last week. The Nasdaq Composite fell more than 1% Monday and the benchmark is down 4% over the past five days.\u00a0<\/p>\n
At Palantir, investors keep a gimlet eye on U.S. commercial revenue as evidence that companies as well as governments are willing to pony up for AI software. That business grew 148% to $984 million, compared to $397 million a year ago.\u00a0<\/p>\n
And for the first time, U.S. commercial revenue skipped ahead of U.S. government revenue, clocking in at $984 million versus $953 million. U.S. government revenue grew to $953 million, up 96% from $486 million a year ago.\u00a0<\/p>\n
Meanwhile, total contract value rose 6% to $2.9 billion and U.S. commercial contract value grew 11% to $1.5 billion.\u00a0<\/p>\n
For the current quarter, Palantir forecast revenue of roughly $2.64 billion to $2.65 billion, or about 88% growth at the midpoint. Analysts expected about $2.46 billion. Fiscal year 2026 revenue guidance also rose to 91% year over year growth, and U.S. commercial revenue guidance rose to 143%.<\/p>\n
The backdrop for Palantir is markedly different from its second quarter results in August even though Karp\u2019s tone this quarter is just as ebullient as he was three months ago. This quarter, as last quarter, the $430 billion tech firm\u2019s own quarterly release to investors said its results were \u201ccrushing consensus expectations.\u201d<\/p>\n
Karp maintained the same tone throughout the call and in response to a question for tech bull Dan Ives, said potential clients seek out Palantir because they\u2019re concerned about their intellectual property and getting value from it. He compared it in various ways to types of romantic relationships. He said \u201cwarm leads\u201d now turn quicker into \u201chot leads\u201d the way a first date can progress further romantically. <\/p>\n
It\u2019s a \u201cvery different jam,\u201d said Karp.<\/p>\n
\u201cWe\u2019ve gone from being the most attractive person in the physics department to being the captain of the football team kind of thing,\u201d he continued. \u201cI mean, not that I did that.\u201d<\/p>\n
#Palantirs #revenue #rises #billion #investors #patience #rests #hair #trigger<\/p>\n","protected":false},"excerpt":{"rendered":"
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