PLTR · Earnings call · 2026Q3T · Full report
Revenue Concentration Risk
Palantir Technologies Inc. · 2026-11-02 · Importance 57 · Surprise 64 · In source text
Third-quarter trailing 12-month revenue from Palantir’s top 20 customers averaged $146 million per customer, up 76% year over year. U.S. commercial average trailing 12-month revenue per customer grew 88% year over year and 20% sequentially. These figures indicate substantial growth in revenue from existing large customers, alongside the company’s broader customer expansion.
Key facts
- Third-quarter trailing 12-month average revenue from Palantir's top 20 customers rose 76% year-over-year to $146 million per customer.
- Palantir said revenue from strategic commercial contracts was approximately $400,000 in Q3, less than 0.02% of overall revenue; it expected less than $500,000 in Q4 2026 and no further revenue beyond Q4 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | probable | — | Palantir said revenue from strategic commercial contracts was approximately $400,000 in Q3, less than 0.02% of overall revenue; it… |