Palantir's third-quarter government revenue rose 81% from a year earlier to $1.146 billion. In the same quarter, the Army awarded the company a prime agreement to produce TITAN systems. Trefis reported both figures on Nov. 5. Yahoo Finance carries the same Trefis piece.
The commercial side is where the numbers split. U.S. commercial bookings rose 11% from a year earlier. U.S. commercial revenue climbed 148%. Over 12 months, management said U.S. commercial bookings rose 62% to $6.114 billion.
On the Nov. 2 earnings call, management said several eight-figure Sovereign AI deals signed in the quarter were shorter than usual. It tied the shorter terms to customers adopting early Sovereign AI tools quickly. Management also said it expects those contracts to grow longer and larger over time. Trefis does not say Palantir has disputed its reading.
Guidance: fourth-quarter revenue of $2.65 billion, against $1.41 billion a year earlier. Trefis puts that at about 88% growth, below the third quarter's 96%. Management raised its full-year revenue guide to $8.53 billion from $8.15 billion in August.
Trefis says Palantir ended September with $10.3 billion more in cash and short-term investments than debt. It also holds $4.9 billion of signed revenue not yet earned. The stock trades at 56.7 times sales, against 3.2 for the S&P 500, Trefis says.
The next number to watch is U.S. commercial bookings, due in February 2027.