Palantir Revenue Jumps 96% as Contract Value Growth Slows

Palantir Technologies’ third-quarter revenue nearly doubled to $2.313 billion, while total contract value growth slowed to 6% year over year, highlighting a divergence between sales and contract growth.

The results cover the quarter ended Sept. 30 and were announced Nov. 2. Revenue increased 96% from a year earlier. Within the U.S. commercial segment, sales totaled $984 million, advancing 148% year over year and 29% from the second quarter.

The quarter’s total contract value (TCV) came to $2.918 billion, an increase of 6% from a year earlier. That annual growth rate had been 49% in the second quarter, when TCV was $3.37 billion. U.S. commercial TCV reached $1.463 billion, down from $2.13 billion in the prior quarter. Its year-over-year growth eased to 11% from 153%.

TCV estimates the potential lifetime value of contracts when they are signed. The calculation assumes customers exercise available options and keep contracts in force, although most Palantir contracts include termination provisions.

Palantir raised its 2026 revenue forecast to a range of $8.530 billion to $8.534 billion. The company also projected more than $3.559 billion in U.S. commercial revenue for the year, which would represent growth of at least 143%.

The reported figures show different growth rates for sales and contract value in both the overall business and its U.S. commercial segment. Overall revenue grew 96% year over year as TCV increased 6%; U.S. commercial revenue rose 148% while that segment’s TCV grew 11%.