Palantir's Q3 revenue rose 96% year over year to $2.31 billion, beating management's forecast of $2.16 billion to $2.164 billion and the $2.18 billion analyst consensus, marking the 13th straight quarter of accelerating growth. Adjusted EPS was $0.44, above the $0.41 consensus. U.S. commercial revenue surged 148% to $984 million, and net revenue retention rose to 165% from 157% in Q2. Palantir guided Q4 revenue to $2.649 billion to $2.653 billion, implying 88% growth at the midpoint, and raised full-year revenue guidance to $8.53 billion to $8.534 billion. Despite these results the stock dipped and is down more than 15% over the past year, trading at 33.5 times 2027 forward sales estimates, and the author says the valuation would look much less expensive if revenue keeps accelerating.
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