U.S. Commercial Overtakes Government at Palantir

Palantir Perspectives · Nov 9, 2026 · 6m

Palantir just pulled off a first: U.S. commercial sales outpaced its government business, helping to fuel a near-doubling in both revenue and profits. The stakes? Commercial contracts tend to move faster, which could mean a new era of growth—if those headline numbers hold up. But underneath the sprint, contract bookings tell a murkier story, rising just 6% from a year ago and even falling quarter-over-quarter, as big deals got shorter. The company’s “Sovereign AI” pitch—letting customers own their own AI models—drove some eye-popping expansion in the U.S. But with international sales lagging…