Palantir Technologies earnings: third quarter 2026

Palantir Technologies, which sells software that helps governments and companies make sense of large amounts of data, had a quarter of very fast growth. Sales were $2.313 billion, up 96% on a year ago and above $2 billion for the first time. Earnings per share rose to $0.44 from $0.18. Sales to U.S. businesses grew fastest and now exceed its U.S. government sales. The company turned more than half of its sales into free cash flow, the cash left after running the business and investing in it. It raised its forecasts for the year's sales, profit and cash. The one soft spot was the value of new contracts signed, which grew only 6%. ¹

Against what analysts expected

Analysts expected earnings per share of $0.32 on average, according to Nasdaq's earnings calendar; Palantir's adjusted figure of $0.44 was about 38% higher. ¹²

The strong points

• Sales nearly doubled in a year, rising 96% to $2.313 billion, the first quarter above $2 billion. ¹
• Sales to U.S. businesses jumped 148% to $984 million and, for the first time, overtook its sales to the U.S. government. ¹
• Free cash flow, the cash left after running the business and investing in it, more than doubled to $1.216 billion, 53% of sales. ¹

The weak points

• The value of new contracts signed grew only 6% on a year ago, to $2.918 billion, far slower than sales. ¹
• Money owed by customers nearly doubled since December, to $1.88 billion. ¹

What the company expects

• Palantir raised its sales forecast for 2026 to between $8.530 and $8.534 billion, up from $8.150 to $8.158 billion three months ago. ¹
• It also raised its forecast for adjusted operating profit, the profit from running the business before interest and tax, to between $5.245 and $5.249 billion, from $4.889 to $4.897 billion. ¹

Our verdict on the quarter

A very strong report. Palantir raised its forecasts for the year's sales and profit, earned well above what analysts expected, and nearly doubled its sales, with only slow growth in new contracts signed holding the picture back.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Palantir Technologies's results release, 2 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 3 November 2026. ↩