Palantir sold $984 million to US companies last quarter, more than to the US government for the first time. Sales jumped 148%.
Palantir Technologies reported third-quarter US government sales of $953 million, up 96%, SiliconANGLE reported.
Total revenue rose 96% to $2.313 billion, the first quarter above $2 billion.
The company closed 212 deals worth at least $1 million, 64 of them worth $10 million or more. Net income more than doubled to $1.128 billion.
One number grew far more slowly. Total contract value, the value of deals signed in the quarter, rose 6% to $2.918 billion, after rising 151% in the same quarter a year earlier.
Palantir raised its full-year guidance to about $8.53 billion and expects US commercial revenue above $3.559 billion, up at least 143%. Chief executive Alex Karp said what he called the "Sovereign AI movement" is creating a split between "haves and have nots". Its shares rose more than 1% in late trading.
Revenue can come from contracts signed earlier, so the two figures run on different clocks. The next quarters will show whether signings pick up or revenue growth slows.
Sources
Our file on Palantir
- 4 Nov
NHS England credits Palantir with helping 137 trusts. Twenty-nine say they are not using it.
- 31 Oct
Celonis says 75% of Germany's top 40 listed firms use its software. Now it offers police a Palantir rival logging every search.
- 30 Oct
Britain's defence ministry paid Palantir £282 million in ten years, the FT found. Its published contracts showed £95.9 million.
- 25 Oct
MPs asked Britain to drop Palantir from NHS data work. Ministers offered a review that could end in a two-year extension.
- 20 Sept
Palantir's £330m NHS contract can be cancelled in February.
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