Palantir Technologies Inc (PLTR) reported financial results for the third quarter after the market close on Monday. Here's a rundown of the report.

Palantir Q3 Highlights

Palantir posted third-quarter revenue of $2.31 billion, beating analyst estimates of $2.18 billion. The AI software company reported adjusted earnings of 44 cents per share for the quarter, beating estimates of 41 cents per share, according to market data.

Total revenue was up 96% year-over-year in the quarter as U.S. revenue grew 119% year-over-year to $1.94 billion. U.S. Commercial revenue increased 148% year-over-year to $984 million and U.S. Government revenue jumped 96% year-over-year to $953 million. Palantir noted that its Rule of 40 score is now at 158%.

"The Sovereign AI movement is imposing the most dramatic dichotomy between haves and have-nots that I have witnessed in 30 years of business. Every institution — government and commercial — is rapidly being forced, voluntarily or not, into one of these two categories," said Alex Karp, co-founder and CEO of Palantir.

Palantir said it closed 212 deals worth over $1 million during the quarter, 107 deals worth at least $5 million and 64 deals worth at least $10 million.

Palantir generated $1.21 billion in cash from operations and $1.22 billion in adjusted free cash flow in the quarter. Palantir ended the period with approximately $10.4 billion of cash, cash equivalents and short-term U.S. Treasury securities.

"It would be an understatement to say that our results this past quarter were extraordinary," Karp added.

What's Next For Palantir?

Palantir expects fourth-quarter revenue to be in the range of $2.649 billion to $2.653 billion, versus estimates of $2.46 billion.

The company raised its full-year 2026 revenue guidance from a range of $8.15 billion to $8.16 billion to a new range of $8.53 billion to $8.534 billion versus estimates of $8.20 billion.

Palantir also guided for full-year U.S. Commercial revenue growth of at least 143%, up from prior guidance of at least 134%, and adjusted free cash flow of $4.8 billion to $5 billion, up from prior guidance of $4.5 billion to $4.7 billion.

Palantir management will further discuss the quarter on an earnings call at 5 p.m. ET.

PLTR Stock Climbs After Earnings

PLTR Price Action: Palantir shares were up 1.59% in after-hours Monday, trading at $181.18 at the time of publication, according to market data.