Palantir 10-Q: Q3 Revenue $2.31B (+96%), Diluted EPS $0.44, $4.9B Backlog
PLTR sits 56% above its 52-week low of $106.37.
Summary
Palantir's Q3 10-Q confirms $2.31B revenue (+96% Y/Y), $0.44 diluted EPS and $4.9B remaining performance obligations, with $10.4B of cash and Treasuries and no debt. It also discloses a $5.6B ten-year cloud commitment and new insider 10b5-1 plans, including CEO sales of up to 7.08M shares.
Key Events · Earnings and Guidance · PLTR
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Q3 Revenue $2.31B, Up 96%
Revenue rose to $2,313,411 thousand from $1,181,092 thousand a year earlier; commercial revenue grew 113% and government 81%.
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Diluted EPS $0.44, Net Income $1.13B
Net income attributable to common stockholders was $1,128,012 thousand, or $0.47 basic and $0.44 diluted per share, versus $0.18 diluted a year ago.
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Backlog $4.9B, 44% Within 12 Months
Remaining performance obligations were $4.9 billion as of September 30, 2026, with roughly 44% expected to be recognized as revenue over the next 12 months.
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$5.6B Ten-Year Cloud Commitment
A March 2026 amendment to a third-party cloud services agreement commits at least $5.6 billion over ten years through February 29, 2036, with annual minimums of $268 million to $979 million.
Analysis · PLTR · Technology
The headline numbers were already out via the 2026-11-02 8-K, but the full 10-Q fills in the quality of the quarter: diluted EPS of $0.44 on $1.13B net income, a 73% contribution margin, and $4.9B of remaining performance obligations (44% expected to convert to revenue within 12 months). It also discloses a $5.6B ten-year cloud hosting commitment through February 2036 — a large fixed cost that only pays off if the current growth rate holds. Liquidity is $10.4B in cash and Treasuries with no debt, so there is no financing risk. The one item worth flagging for holders: new 10b5-1 plans adopted in the quarter let the CEO sell up to 7,080,177 shares through June 2027, while a Thiel-linked entity can buy up to 4,000,000 — a pre-planned distribution overhang against a pre-planned purchase.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 40.9% of the 1143 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.37%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PLTR was trading at $165.56 on NASDAQ in the Technology sector, with a market capitalization of approximately $428.6B. The 52-week trading range was $106.37 to $212.94. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.