Palantir raises full-year revenue outlook after 96% quarterly growth

Palantir announced its financial results on Nov. 2, 2026, reporting revenue of $2.313 billion, up 96% year over year.[1] The company said this was the first quarter in which revenue exceeded $2 billion.[1] CNBC reported revenue of $2.31 billion against an expectation of $2.18 billion, and adjusted earnings per share of 44 cents against an expectation of 41 cents.[2] Palantir raised its full-year revenue guidance to $8.530 billion-$8.534 billion, which it said represents 91% year-over-year growth.[1] It also raised adjusted free cash flow guidance to $4.8 billion-$5.0 billion.[1]

U.S. commercial revenue rose 148% year over year and 29% quarter over quarter to $984 million, Palantir reported.[1] It exceeded U.S. government revenue for the first time in the company’s history.[1] U.S. government revenue was $953 million, up 96% year over year and 18% quarter over quarter.[1] Palantir’s total U.S. revenue reached $1.937 billion, up 119% year over year.[1] The company raised its full-year U.S. commercial revenue guidance to more than $3.559 billion, implying growth of at least 143%; CNBC reported the company described the target as above $3.56 billion.[1][2]

Palantir said it closed 212 deals worth at least $1 million, including 107 worth at least $5 million and 64 worth at least $10 million.[1] Total contract value was $2.918 billion, up 6% year over year, while U.S. commercial remaining deal value rose 79% to $6.517 billion.[1] CNBC reported that investors would look to later quarters for evidence on whether 11% growth in U.S. commercial TCV bookings was a temporary fluctuation or a structural trend.[3] Palantir shares fell about 3% in extended trading after the results.[2] The reported growth therefore sits alongside questions about forward indicators, rather than resolving them.[3]

Palantir lists Foundry, Ontology and its Artificial Intelligence Platform, or AIP, among its products, and says AIP includes ontologized, fine-tuned open-weight models.[1] The company says its products create a self-improvement loop connecting workflows with suitable models and aligning Palantir with its partners.[1] CNBC reported that businesses are adopting more of Palantir’s artificial-intelligence tools.[2] Those statements describe the company’s product approach and reported customer uptake; they do not establish that AI adoption alone caused the quarter’s revenue growth.[1][2]