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Palantir revenue jumps 96% as U.S. commercial AI demand overtakes government business

Palantir reported third-quarter 2026 revenue of $2.31 billion, up 96% year over year and 20% sequentially. U.S. commercial revenue rose 148% to $984 million and exceeded U.S. government revenue for the first time, while total U.S. revenue reached $1.94 billion. The company closed 212 deals worth at least $1 million, including 64 worth at least $10 million, and reported record quarterly profit of $1.13 billion. Management raised full-year guidance and presented sovereign and enterprise AI deployments as the central growth engine. These are reported financial results, not a guarantee that every business unit or geography will expand at the same rate.