Palantir Technologies Inc. (PLTR) stock — is it a good business?

Palantir Technologies Inc. (PLTR) stock — is it a good business? — InspectStocks

Just reported

Q3 2026 results

From Palantir Technologies's results release of November 2, 2026; its quarterly report has since been filed.

Revenue
Actual
$2.31B
+96% y/y
+20% q/q
Guided
$2.16B
midpoint
Above guide+7.0%
EPS, GAAP
Actual
$0.44
+144% y/y
+7.3% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$1.08B
+176% y/y
+19% q/q
Guided
—
No guide given

Company outlook

Q4 2026

Revenue$2.649B – $2.653B+88% y/y First given
Operating income, adjusted$1.64B – $1.644BFirst given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

How it makes money

Government customer contracts52%
Commercial customer contracts48%

Shares of revenue are estimates for six months ended June 30, 2026, not figures from a filing.

Competes with

What it sells4

Gotham
Software that brings together information from different sources, including sensors, to help defense and intelligence users understand events, plan missions, and coordinate operations.
Foundry
Software that helps organizations bring their data together, analyze it, and build applications and workflows for everyday operations.
Apollo
Software for delivering software updates, security changes, and configuration updates across cloud services, customers’ own computers, and other environments.
Artificial Intelligence Platform (AIP)
Software that connects artificial intelligence models to an organization’s data and work processes, with tools for building automated tasks and controlling how the models are used.

Who buys it4

U.S. and other government agencies that buy software for defense, intelligence, and other government work, often through separately contracted departments or agencies.
Commercial businesses that buy software to organize data and support work across their operations; the company reports customers in many industries.
Defense personnel, intelligence analysts, and military organizations using software for situational awareness and mission planning.
Workers and analysts in industries such as utilities, automotive manufacturing, oil and gas, and pharmaceuticals, who use the software for operational tasks.

What it stands on, and what could break it

What the business leans on

1Palantir relies on computing services from third parties, including Amazon Web Services and Microsoft, for some customer systems and software operations.
2AIP connects to large language models provided by other companies or hosted by customers, so access to and compatibility with those models matters.
3A meaningful portion of revenue comes from government customers, whose purchasing can depend on budgets, contract awards, procurement rules, and required security clearances.
4The company’s contracts often involve customer-specific setup and support, and some customers can terminate contracts for convenience.

What could go wrong

1A relatively small number of customers account for a substantial portion of revenue; if major customers do not renew, expand, or continue their contracts, revenue could fall.
2Government sales can be affected by budget changes, delays in contract awards, shifts in spending priorities, procurement rules, and requirements for employee and facility security clearances.
3Palantir’s software can be complex to implement, and failures in its software, security, privacy controls, or artificial intelligence features could disrupt customer operations, harm its reputation, or lead to lost business or legal claims.

Full financial statements →

About Palantir Technologies Inc.

Palantir makes four main software products: Gotham for defense and intelligence work, Foundry for organizing data and building workflows, Apollo for delivering software updates across different computing environments, and the Artificial Intelligence Platform (AIP) for using artificial intelligence with an organization’s data and processes. Customers can combine these products, which are designed to work with data the customer already has access to. Contracts can include software access, continuing support and maintenance, and services such as configuration, training, and data modeling.

Head office: Denver, Colorado, United States
Founded: 2003
Employees: 4,429 (December 31, 2025, high)
Listed on: Nasdaq
Financial year ends: December 31

Built from Palantir Technologies Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From Palantir Technologies's results release of November 2, 2026; its quarterly report has since been filed.

Revenue
Actual
$2.31B
+96% y/y
+20% q/q
Guided
$2.16B
midpoint
Above guide+7.0%
EPS, GAAP
Actual
$0.44
+144% y/y
+7.3% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$1.08B
+176% y/y
+19% q/q
Guided
—
No guide given

Company outlook

Q4 2026

Revenue$2.649B – $2.653B+88% y/y First given
Operating income, adjusted$1.64B – $1.644BFirst given

Keep exploring

The themes Palantir Technologies is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Software Infrastructure

Graded A or B and worth $2B or more: A first, then the largest.

All 158 graded companies in its industry

Grade rose recently in Technology

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises

How it makes money

Government customer contracts52%
Commercial customer contracts48%

Shares of revenue are estimates for six months ended June 30, 2026, not figures from a filing.

Competes with

What it sells4

Gotham
Software that brings together information from different sources, including sensors, to help defense and intelligence users understand events, plan missions, and coordinate operations.
Foundry
Software that helps organizations bring their data together, analyze it, and build applications and workflows for everyday operations.
Apollo
Software for delivering software updates, security changes, and configuration updates across cloud services, customers’ own computers, and other environments.
Artificial Intelligence Platform (AIP)
Software that connects artificial intelligence models to an organization’s data and work processes, with tools for building automated tasks and controlling how the models are used.

Who buys it4

U.S. and other government agencies that buy software for defense, intelligence, and other government work, often through separately contracted departments or agencies.
Commercial businesses that buy software to organize data and support work across their operations; the company reports customers in many industries.
Defense personnel, intelligence analysts, and military organizations using software for situational awareness and mission planning.
Workers and analysts in industries such as utilities, automotive manufacturing, oil and gas, and pharmaceuticals, who use the software for operational tasks.

What it stands on, and what could break it

What the business leans on

1Palantir relies on computing services from third parties, including Amazon Web Services and Microsoft, for some customer systems and software operations.
2AIP connects to large language models provided by other companies or hosted by customers, so access to and compatibility with those models matters.
3A meaningful portion of revenue comes from government customers, whose purchasing can depend on budgets, contract awards, procurement rules, and required security clearances.
4The company’s contracts often involve customer-specific setup and support, and some customers can terminate contracts for convenience.

What could go wrong

1A relatively small number of customers account for a substantial portion of revenue; if major customers do not renew, expand, or continue their contracts, revenue could fall.
2Government sales can be affected by budget changes, delays in contract awards, shifts in spending priorities, procurement rules, and requirements for employee and facility security clearances.
3Palantir’s software can be complex to implement, and failures in its software, security, privacy controls, or artificial intelligence features could disrupt customer operations, harm its reputation, or lead to lost business or legal claims.

Full financial statements →

About Palantir Technologies Inc.

Head office: Denver, Colorado, United States
Founded: 2003
Employees: 4,429 (December 31, 2025, high)
Listed on: Nasdaq
Financial year ends: December 31

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells4

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Palantir Technologies Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Software Infrastructure

Grade rose recently in Technology

How it makes money

Competes with

What it sells4

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Palantir Technologies Inc.

Palantir Technologies Inc.

Keep exploring

The theme it is part of

Highest-graded in Software Infrastructure

Grade rose recently in Technology

Data & AI software

Growth & cash — 5 of 5

Business trend

Share price and grade over time

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells4

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Palantir Technologies Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Software Infrastructure

Grade rose recently in Technology

How it makes money

Competes with

What it sells4

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Palantir Technologies Inc.

Palantir Technologies Inc.

Past performance

Keep exploring

The theme it is part of

Highest-graded in Software Infrastructure

Grade rose recently in Technology

Data & AI software

Growth & cash — 5 of 5

Business trend

Share price and grade over time