Palantir Shares Close 19% Below Record as Revenue Climbs 96%

Palantir Technologies Inc. (PLTR) shares ended the Nov. 10 session at $168.82, 19% below their $209.05 closing peak from Oct. 9, while third-quarter revenue rose as year-over-year contract value growth slowed.

By Nov. 4, shares had fallen 10% over five days, despite Palantir’s third-quarter results and higher guidance. Third-quarter revenue increased 96% from a year earlier to $2.313 billion. Total contract value was $2.918 billion, down about 13.5% from $3.373 billion in the second quarter. Its year-over-year growth slowed to 6%, from 49% in the prior quarter.

U.S. commercial contract value fell to $1.463 billion from $2.132 billion in Q2. Meanwhile, U.S. commercial revenue rose 29% from the prior quarter to $984 million, exceeding U.S. government revenue of $953 million for the first time.

The measures capture different activity. Contract value counts agreements signed during a quarter, including some customer options that have not been exercised. Revenue reflects services delivered and recognized.

Palantir now expects 2026 revenue of $8.530 billion to $8.534 billion. Its fourth-quarter sales forecast is $2.649 billion to $2.653 billion.