Palantir reports booming U.S. commercial revenue growth, topping government for first time
Quarterly results showed U.S. commercial revenue exceeding government revenue, while the company raised its full-year outlook.
TL;DR
- Palantir said third-quarter revenue rose 96% year over year to $2.313 billion, according to its filing and Reuters reporting.
- U.S. commercial revenue reached $984 million, exceeding U.S. government revenue for the first time, the company said.
- The company raised its full-year U.S. commercial revenue guidance to more than $3.559 billion; guidance remains a forecast.
CNBC reported that Palantir's U.S. commercial revenue topped government revenue for the first time. The company's SEC filing reported total third-quarter revenue of $2.313 billion, up 96% year over year. [1] [2]
The filing put U.S. commercial revenue at $984 million for the quarter, up 148% year over year. Reuters also reported that the company raised its full-year U.S. commercial revenue guidance to more than $3.559 billion. [1] [2]
Palantir's release reported $0.44 GAAP earnings per share and lifted its fourth-quarter revenue outlook to $2.649 billion to $2.653 billion. These are company-reported results and guidance; future performance is not established by the quarter. [1] [2] [3]
The shift in revenue mix marks a change in the company's reported balance between commercial and government business. The filing documents the quarter and revised guidance, while the durability of growth and its mix remain to be seen. [1] [2]
Why it matters
The reported crossover is a business-mix milestone for a company historically associated with government contracts. The quarter's figures are confirmed in the filing, but guidance and future growth remain projections.
Editor's note
Results are company-reported and checked against the SEC filing; guidance is not a realized outcome. No investment recommendation is included.