# Palantir's U.S. commercial revenue overtakes U.S. government revenue

U.S. commercial revenue pulls ahead even as U.S. government revenue grows 96% year over year.

Published 2026-11-02 by TGOs. Canonical: https://tgos.io/news/2026/11/02/palantirs-u-s-commercial-revenue-overtakes-u-s-government/

In the quarter ended Sept. 30, 2026, Palantir's U.S. commercial revenue overtook its U.S. government revenue.[1] U.S. commercial revenue reached $984 million, compared with $953 million from U.S. government customers.[1] The company called it the first such crossover in its history.[1]

U.S. commercial revenue added $220 million from the previous quarter, compared with U.S. government's $144 million increase.[1] That reversed the government's $45 million lead in the previous quarter.[2]

U.S. commercial contract value moved differently from revenue.[1] Palantir closed $1.463 billion in U.S. commercial total contract value in the third quarter, up 11% year over year.[1] That was down about 31% from the second quarter.[1][2]

U.S. commercial remaining deal value reached $6.517 billion.[1] It grew 4% sequentially, compared with 29% sequential growth in U.S. commercial revenue.[1] Both contract-value measures presume customers exercise all available contract options and no contracts are terminated.[1]

Palantir raised its full-year revenue guidance to $8.530 billion to $8.534 billion.[1] Its previous range was $8.150 billion to $8.158 billion.[2] It also raised U.S. commercial revenue guidance to more than $3.559 billion from more than $3.424 billion.[1][2]

## Why it matters

Palantir's U.S. revenue mix shifted toward commercial customers while U.S. government revenue growth accelerated to 96% year over year from 90% in the second quarter.[1][2] The release provides no comparable U.S. government contract-value figures or government revenue guidance, limiting what the crossover establishes about the future revenue mix.[1]

## Sources

1. Palantir Q3 2026 results, Exhibit 99.1 (Nov. 2, 2026) <https://www.sec.gov/Archives/edgar/data/1321655/000132165526000045/a2026q3ex991pressrelease.htm>
2. Palantir Q2 2026 results, Exhibit 99.1 (Aug. 3, 2026) <https://www.sec.gov/Archives/edgar/data/1321655/000132165526000039/a2026q2ex991pressrelease.htm>