Palantir forecasts strong quarterly revenue on AI demand
Palantir signage is displayed on a billboard in New York City, US, October 30, 2026. REUTERS/Jeenah Moon
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Nov 2 : Palantir Technologies forecast revenue above estimates for the last three months of the year after topping third-quarter expectations, banking on sustained demand for its data-analytics software from the US government and commercial clients.
The company expects fourth-quarter revenue to be between $2.649 billion and $2.653 billion, it said on Monday, above LSEG-compiled analysts’ average estimate of $2.46 billion.
However, shares fell nearly 3 per cent in extended trading.
“On the negative side, some investors may be disappointed with the US commercial bookings,” William Blair analysts said.
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The growth in US commercial total contract value – the potential lifetime value of signed contracts – slowed to 11 per cent year-over-year in the third quarter, from more than 153 per cent in the previous quarter.
Palantir said it signed multiple eight-figure deals in the quarter that were “shorter in duration than usual” as customers rapidly adopted initial sovereign AI capabilities, which allow enterprises to retain control over their data and how AI is deployed and used.
In the third quarter, revenue from commercial clients surpassed government revenue in the US for the first time, driven by the rapid adoption of AI software to improve operations and safeguard sensitive data.
Palantir, which develops the Maven Smart System used by NATO’s military headquarters and several European armed forces, built its business around government and defense contracts.
Total quarterly revenue jumped about 96 per cent to $2.31 billion, the second straight quarter of 90 per cent growth. Analysts had estimated revenue of $2.18 billion.
US commercial revenue was $984 million, while US government revenue came in at $953 million during the period.
The company reported a total of 1,090 customers in the trailing 12-month period ending September 30, with 904 classified as commercial.
Palantir also raised its annual revenue expectations to between $8.530 billion and $8.534 billion, up from its prior estimates of between $8.150 billion and $8.158 billion.
Source: Reuters
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