Palantir posts ‘highest-ever’ revenue growth rate of 96% as investors’ patience rests on a hair trigger

Palantir Technologies reported its strongest recorded pace of annual revenue growth in the third quarter, as sales rose to $2.3 billion and crossed the $2 billion mark for the first time.

Revenue growth accelerates

Third-quarter revenue increased 96% from a year earlier, compared with 63% growth and revenue of $1.2 billion in the same period last year. The latest figures represent a significant increase in both the company’s reported growth rate and quarterly sales.

Chief financial officer David Glazer described the result as Palantir’s “highest-ever” year-over-year growth rate. He also said the company recorded its highest sequential revenue growth rate, with quarterly revenue rising 20% from the preceding quarter.

A new sales milestone

The $2.3 billion quarterly total marks the first time Palantir’s revenue has exceeded $2 billion in a quarter. That milestone, alongside the 96% annual increase, highlights the scale of the company’s latest reported expansion.

The results provide investors with a closely watched update on Palantir’s operating momentum. The company’s figures show that revenue growth accelerated from the prior-year comparison while sequential growth reached a record level, according to Glazer.

What the results show

• Third-quarter revenue reached $2.3 billion.
• Revenue rose 96% year over year.
• Sequential revenue growth was 20%.
• Quarterly revenue exceeded $2 billion for the first time.

Palantir’s latest figures establish a new reported benchmark for both annual and sequential revenue growth, while marking a first for quarterly sales above $2 billion.